On August 31, JIAXIN INTL RES fell 5.72% in regular trading, trading at HK$63.25/share, with turnover of HK$29.28 million. The decline came as the Diversified Metals & Mining sector experienced broad-based weakness, with major peers including Zijin Mining down 5.17%, CMOC down 4.52%, Wanguo Gold Group down 4.49%, MMG down 3.21%, and Lygend Resource down 2.04%.

The stock had rallied over 5% on August 28 after the U.S. announced restrictions on tungsten scrap exports, which reinforced tungsten's strategic resource status. The current pullback appears linked to sector-wide selling pressure rather than company-specific factors. The company recently reported strong interim results on August 24, with revenue surging 2,039.9% to HK$2.703 billion and net profit of HK$1.584 billion, turning around from a prior-year loss. UBS initiated coverage with a Buy rating and a target price of HK$88.7, citing expected production growth to 11,700 tonnes by 2028 and gross margin expansion to 77%.

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