<div id="readability-page-1"><div>The RMB central parity against the USD was set at 6.8203, down 19 bps MoM. Based on the demand of primary dealers in open market operations, the PBOC conducted zero seven-day reverse repos today (4th). Meanwhile, RMB101.3 billion of reverse repos matured, resulting in a single-day net liquidity withdrawal of RMB101.3 billion. The three major A-share indices opened 0.7% to 1.2% lower and were down 0.4% to 1.1% by midday.The Shanghai Composite Index closed at 4,066 points at noon, down 17 points or 0.43%, with turnover of RMB798.268 billion. The Shenzhen Component Index fell 71 points or 0.46% to 15,632 points, with turnover of RMB927.43 billion. The ChiNext Index dropped 45 points or 1.1% to 4,077 points, with turnover of RMB433.557 billion.Among bank stocks, ICBC (601398.SH) -0.010 (-0.137%) and CCB (601939.SH) 0.000 (0.000%) each slipped 0.1% and closed flat at midday. Insurers CHINA LIFE (601628.SH) -0.250 (-0.760%) and CHINA PACIFIC INSURANCE (601601.SH) -0.230 (-0.734%) fell 0.8% and 0.7%, respectively. BYD Company (002594.SZ) -1.210 (-1.276%) declined 1.3%, while CONTEMPORARY AMPEREX (300750.SZ) -15.360 (-3.602%) dropped 3.6%.In the chip sector, SMIC (688981.SH) +1.500 (+1.119%) rose 1.1%, and HUA HONG (688347.SH) +13.040 (+5.591%) surged 5.6%. The company will change its stock short name to &#34;HUA HONG HONG LI&#34; starting next Monday (8th). AI chipmaker CAMBRICON (688256.SH) -13.840 (-1.004%) fell 1%. Domestic GPU makers METAX (688802.SH) -27.400 (-3.622%) and MOORE THREADS (688795.SH) -8.860 (-1.327%) dropped 3.6% and 1.3%, respectively. LQKJ (688008.SH) +7.840 (+3.088%) gained 3.1%. Optical fibre maker YANGTZE OPTICAL FIBRE (601869.SH) +16.110 (+3.620%) climbed 3.6%. Memory chipmaker GIGADEVICE (603986.SH) +32.740 (+6.651%) jumped 6.7%.A-share &#34;new stock king&#34; SEMIGHT INSTRUMENTS (688808.SH) +29.600 (+1.477%) rose 1.5% to RMB2,033.6, with a total market capitalization of RMB208.783 billion. KWEICHOW MOUTAI (600519.SH) -3.940 (-0.307%) edged down 0.3% to RMB1,277.97, with a market capitalization of RMB1.6 trillion.BOE A (000725.SZ) +0.560 (+10.018%) hit the daily limit up. The company said its glass-based packaging substrates have been partially delivered for sampling but have not yet generated mass-production revenue.ZTE (000063.SZ) +1.360 (+3.732%) gained 3.7% after partnering with Tencent to launch a WorkBuddy AI cloud PC powered by the Hunyuan large model. (jl/da)(A Shares quote is delayed for at least 15 mins.)</div></div>

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Shanghai and Shenzhen indices slipped 0.4% to 1.1% by midday, with the Shanghai Composite at 4,066 and turnover exceeding RMB1.7 trillion. The PBOC withdrew RMB101.3 billion in net liquidity. In sector performance, HUA HONG surged 5.6%, while BOE A hit the daily limit up. Conversely, BYD and Contemporary Amperex declined over 1%. ZTE rose 3.7% following a partnership with Tencent for an AI cloud PC.

AASTOCKS News

Hua Hong Grace

Shenzhen Index

HUA HONG GRACE

SSE Index

ChiNext

ICBC

China Life

CHINA LIFE

CPIC

BYD COMPANY

BYD Company

CATL

SMIC

Cambricon

MetaX

Moore Threads

Montage Technology

YOFC

GIGADEVICE

Semight

Moutai

TENCENT

Tencent

BYD HK SDR 10to1

BYD Company Limited

BYD COMPANY-R

CATL HK SDR 30to1

SMIC HK SDR 5to1

MONTAGE TECH

ZTE Corporation

TENCENT-R

Tencent HK SDR 10to1

Tencent Holdings Limited

Shanghai and Shenzhen Indices Slip 0.4% to 1.1% at Midday; HUA HONG  Surges Over 5%