Jiaxin International Resources Investment (3858) investor relations material

Executive summary

• Achieved full-capacity commercial production at the Boguty tungsten mine, producing 4,137 tonnes of tungsten concentrate and 2,689 tonnes of tungsten trioxide in H1 2026, with significant revenue growth driven by higher tungsten prices.

• Revenue surged 2,039.9% year-over-year to HK$2,703.0 million for the six months ended 30 June 2026, reflecting the ramp-up of commercial operations and strong market demand.

• Net profit reached HK$1,583.8 million, reversing a net loss of HK$7.0 million in the prior year period.

• Gross profit margin was 73.1%, reflecting strong operational efficiency and favorable market conditions.

• Declared an interim dividend of HK$1.87 per share for H1 2026.

Financial highlights

• Gross profit was HK$1,977.2 million with a gross margin of 73.1% for the six months ended 30 June 2026.

• Administrative expenses decreased 9.6% year-over-year to HK$54.7 million due to the absence of listing expenses.

• Net finance costs dropped to HK$0.1 million, mainly due to increased interest income on deposits.

• Net current assets rose to HK$1,858.1 million as of 30 June 2026, up from HK$734.2 million at year-end 2025.

• Cash and cash equivalents stood at HK$1,459.5 million at period end.

Outlook and guidance

• Plans to integrate an ore sorting system into mining operations by 2027 and increase annual mining and processing capacity to 4.95 Mt.

• Exploring new investment opportunities in non-ferrous metals across Central Asia.

• Actively considering share repurchases, dividend payments, and other capital market actions to enhance shareholder returns.