Shares of JIAXIN INTL RES (03858) climbed more than 7% during morning trading on Thursday. At the time of writing, the stock had risen 6.92% to HK$58.70, with turnover reaching HK$94.02 million.

Zimbabwe has immediately banned the export of antimony and tungsten, a move aimed at encouraging mining companies to undertake more mineral refining and processing operations domestically. This regulatory shift is expected to have significant implications for the global tungsten supply chain.

According to Sinolink Securities, on the supply side, tungsten ore supply elasticity remains limited, with constraints at the mining level continuing to strengthen. On the demand side, downstream sectors such as cemented carbide and tungsten materials are experiencing steady growth. Combined with the strategic resource status of tungsten being increasingly reinforced under export control measures, the central price of tungsten is expected to trend higher.

In the first half of this year, JIAXIN INTL RES generated revenue of HK$2.703 billion, a substantial year-on-year increase of 2,039.9%. The company also recorded a net profit attributable to shareholders of HK$1.538 billion, reversing a year-ago loss. An interim dividend of HK$1.87 per share was declared.

During the period, the group produced more than 4,000 tonnes of 65% scheelite concentrate. The company's financial performance showed notable growth during the period, driven by the increase in tungsten concentrate prices.