According to the disclosure of the Hong Kong Stock Exchange on August 19th, Jiaxin International Resources Investment has submitted an application for listing to the Hong Kong Stock Exchange, with China International Capital Corporation as the exclusive sponsor.
The company is a tungsten mining company based in Kazakhstan, focusing on the development of the Bakuta tungsten mine (Bakuta tungsten mine project). According to data from Frosst Sullivan, as of June 30, 2024, Bakuta tungsten mine is the fourth largest single tungsten mine in the world, with a mineral resource of 0.23 million tons and the highest ranking in terms of design capacity. It is also the largest developing tungsten concentrate outside of China as of June 30, 2024.
In terms of finance, the company recorded operating losses of 28.181 million yuan (Hong Kong dollars, the same below), 75.09 million yuan, 77.291 million yuan, and 63.399 million yuan for the six months ending on June 30, 2021-2023 and June 30, 2024, respectively. The corresponding losses for the company's equity holders for the year/period were 25.785 million yuan, 93.661 million yuan, 78.92 million yuan, and 63.617 million yuan. The corresponding total amount of outstanding debt for the same period was 0.366 billion yuan, 0.567 billion yuan, 1.652 billion yuan, and 1.608 billion yuan, respectively.