On New Year's Eve, the three major indices of A-shares showed mixed performance, with the Shanghai Composite Index rising over 18% for the year, and the Shenzhen Component Index and ChiNext Index increasing by nearly 30% and 50%, respectively

The central parity rate of the RMB against the US dollar was raised by 60 points today, reported at 7.0288 per US dollar.

The People's Bank of China today (31st) conducted a 528.8 billion RMB (same below) seven-day reverse repurchase operation in the open market, with the operation rate remaining at 1.4%. Today, 26 billion RMB of reverse repos matured, resulting in a net injection of 502.8 billion RMB for the day.

The official manufacturing PMI and RatingDog manufacturing PMI for December in mainland China both rose to 50.1, exceeding expectations.

On the last trading day of 2025, the three major A-share indices opened slightly higher before diverging. The Shanghai Composite Index closed up 3 points or 0.09% at 3,968 points, with a turnover of 829.5 billion RMB. The Shenzhen Component Index closed down 79 points or 0.6% at 13,525 points, with a turnover of 1.22 trillion RMB. The ChiNext Index closed down 39 points or 1.2% at 3,203 points, with a turnover of 543.7 billion RMB. For the entire year of 2025, the three major A-share indices saw the Shanghai Index rise 18.41%, the Shenzhen Component Index increase by 29.87%, and the ChiNext Index surge by 49.57%.

Banking stocks supported the Shanghai Index's steady rise, with Industrial and Commercial Bank of China (601398.SH) and China Construction Bank (601939.SH) rising by 1% and 0.7%, respectively.

Chip stocks softened, with SMIC (688981.SH) and Hua Hong Semiconductor (688347.SH) falling by 2% and 1.9%, respectively. Cambrian (688256.SH) also dropped by 4.3%.

Robot concept stocks showed mixed performance, with Jikai Co., Ltd. (002691.SZ) hitting the daily limit down. Dongjie Intelligent (300486.SZ) fell by 9.2%. Sanhua Intelligent Control (002050.SZ) rose by 5.4%. Wuzhou Xinchun (603667.SH) and Fenglong Co., Ltd. (002931.SZ) both hit the daily limit up.

Zijin Mining (601899.SH) expects its net profit for 2025 to increase by approximately 59% to 62% year-on-year, with its stock price rising by 3.1%. CHALCO's (601600.SH) wholly-owned subsidiary, Chalco Logistics, plans to acquire a 51% stake in Yun Aluminum Logistics for 264 million RMB, with its stock price rising by 1.9%.

Jinjiang Hotels (600754.SH) plans to transfer 100% equity of Shanghai Jichangkun and three other companies, with its stock price rising by 3.8%.

BlueFocus Communication Group (300058.SZ) hit the daily limit up. The stock has again submitted an IPO application in Hong Kong, intending to list on the main board in Hong Kong.

In addition, CATL (300750.SZ) and BYD (002594.SZ) fell by 0.5% and 2%, respectively. Lithium battery stocks generally declined, with LianTe Technology (301205.SZ), Changfei Optical Fiber (601869.SH), and Jinyuan Co., Ltd. (000546.SZ) dropping by 1.5% to 2.6%