The three major indices of the Shanghai and Shenzhen A-shares fluctuated individually throughout the day, with the trading volume in the Shanghai and Shenzhen markets slightly falling to over 2.9 trillion RMB. Vanke rose by over 3%

The central parity rate of the Renminbi against the US dollar was raised by 56 points to 7.0064 per US dollar, reaching a new high since May 18, 2023. The People's Bank of China today (15th) conducted a 179.3 billion Renminbi (the same below) seven-day reverse repurchase operation, with the operation rate remaining at 1.4%. Today, 4 billion reverse repos are maturing, resulting in a net injection of 175.3 billion Renminbi. On the same day, the central bank will conduct a 900 billion Renminbi buyout reverse repurchase operation.

The three major indices of A-shares fell in early trading, with a mixed performance in the afternoon; the Shanghai Composite Index was slightly weak, while the Shenzhen Component and ChiNext rebounded. The main board trading volume in the Shanghai and Shenzhen markets slightly decreased to 2.91 trillion Renminbi. The Shanghai Composite Index fell by 13 points or 0.3% to close at 4,112 points, with a trading volume of 1.18 trillion Renminbi. The Shenzhen Component Index rose by 58 points or 0.4% to close at 14,306 points, with a trading volume of 1.73 trillion Renminbi. The ChiNext Index rose by 18 points or 0.6% to close at 3,367 points, with a trading volume of 841.3 billion Renminbi.

In the banking sector, Industrial and Commercial Bank of China (601398.SH) and China Construction Bank (601939.SH) fell by 0.1% and 0.4%, respectively. CITIC Securities Co., Ltd. (600030.SH) rose by 0.2%, with its performance report indicating a 38.5% year-on-year increase in net profit to 30.051 billion Renminbi last year. CITIC Bank (601998.HK) rose by 0.4%, with its performance report showing a net profit of 70.618 billion Renminbi last year, a year-on-year growth of 2.98%. In the insurance sector, Ping An Insurance (601318.SH) and China Life (601628.SH) rose by 0.6% and fell by 1.5%, respectively.

Vanke proposed four debt restructuring plans, seeking a 3.7 billion Renminbi debt extension, with Vanke A (000002.SZ) rising by 3.4%. China Fortune Land Development (600340.SH) hit the daily limit down, with an expected annual loss of 16 billion to 24 billion Renminbi, which may trigger a delisting risk warning.

Among leading chip stocks, SMIC A (688981.SH) closed flat. Hua Hong Semiconductor (688347.SH) rose by 4.2%. AI chip stock Cambricon (688256.SH) fell by 1.7%. Domestic GPU stocks Muxi Co., Ltd. (688802.SH) and Moore Threads (688795.SH) fell by 2.7% and 1.9%, respectively.

Computing power leasing concept stocks retreated, with Hongjing Technology (301396.SZ), Tongniu Information (300895.SZ), and Zhongfutong (300560.SZ) falling by 4.7%-5.3%.

Sunflower (300111.SZ) hit the daily limit down. Sunflower is under investigation by the China Securities Regulatory Commission for suspected violations of information disclosure laws and regulations. The company stated that its production and operational activities are currently proceeding normally and orderly, and that the investigation will not have a significant impact on its daily production, operations, and management.

WISCO Development (600058.SH) plans to conduct asset swaps with its controlling shareholder and resumed trading with a limit-up. Unisoc (002049.SZ) plans to acquire 100% equity of Ruineng Semiconductor and also resumed trading with a limit-up In addition, Contemporary Amperex Technology Co., Limited (300750.SZ) closed flat. BYD Company Limited (002594.SZ) fell by 0.5%