Jiaxin International Resources Investment Limited reported a sharp turnaround for the six months ended 30 June 2026, driven by ramp-up of its Boguty tungsten mine in Kazakhstan.

Revenue jumped to HK$2.70 billion from HK$126.31 million a year earlier following the commencement of commercial production in April 2025. Gross profit reached HK$1.98 billion, translating into a 73.1% gross margin versus 14.2% in the prior-year period.

The group posted a net profit of HK$1.58 billion, compared with a HK$6.99 million loss in the first half of 2025. Basic earnings per share swung to HK$3.37 from a loss per share of HK$0.02.

Cost of sales rose to HK$725.78 million, reflecting higher output, while administrative expenses fell 9.6% to HK$54.69 million due to the absence of listing-related costs. Net finance charges were virtually neutral at HK$0.13 million, aided by HK$22.29 million in deposit interest income that offset borrowing costs.

Cash generated from operations totaled HK$1.32 billion. Cash and cash equivalents increased to HK$1.46 billion, supplemented by HK$617.55 million in short-term deposits. Total borrowings declined 19.2% to HK$1.02 billion after refinancing euro debt with an RMB loan; the company ended the period in a net cash position, eliminating its previously reported 13% gearing ratio. Net current assets more than doubled to HK$1.86 billion.

The board declared an interim dividend of HK$1.87 per share, with payment slated for 11 November 2026 to shareholders on record as of 17 September 2026.

Operationally, the Boguty mine produced over 4,000 tonnes of 65% scheelite concentrate in the half-year. Management targets integrating an ore-sorting system by 2027 and plans to raise annual mining and processing capacity to 4.95 million tonnes under a memorandum with the Kazakhstan government.

Post-period, Jiaxin International repurchased 150,000 shares on 20–21 July 2026 for approximately HK$6.93 million, to be held as treasury shares.

No significant acquisitions, disposals, or off-balance-sheet arrangements were recorded during the period.