--- title: "SH Comp Gains 3 Pts at Half-Day; HUA HONG GRACE Surges Over 11%, Innovative Drug Concept Stocks Rally" type: "News" locale: "en" url: "https://longbridge.com/en/news/291751015.md" description: "The Shanghai Composite Index rose 3 points at midday, while the Shenzhen and ChiNext indices declined. HUA HONG GRACE surged over 11% and LONGSYS jumped 12.5% on strong profit forecasts. Innovative drug concept stocks rallied following regulatory support for cell and gene therapy R&D. Conversely, EVE ENERGY fell 2% after announcing plans to reduce its stake in SMOORE INTL." datetime: "2026-07-06T04:05:49.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/291751015.md) - [en](https://longbridge.com/en/news/291751015.md) - [zh-HK](https://longbridge.com/zh-HK/news/291751015.md) generator: "portal-rs" --- # SH Comp Gains 3 Pts at Half-Day; HUA HONG GRACE Surges Over 11%, Innovative Drug Concept Stocks Rally The RMB central parity rate against the USD was set at 6.8066, down 19 bps daily. The PBOC conducted RMB7 billion of seven-day reverse repos and RMB1 trillion of outright reverse repos, while RMB157.5 billion of seven-day reverse repos and RMB800 billion of outright reverse repos matured, resulting in a net withdrawal of RMB49.5 billion on the day. China's three major A-share indices opened 0.4% to 0.8% higher before diverging. The Shanghai Composite Index gained 3 pts or 0.08% at midday to 4,046, with turnover of RMB1.02 trillion. The Shenzhen Component Index fell 55 pts or 0.36% to 15,541, with turnover of RMB1.19 trillion. The ChiNext Index also dropped 20 pts or 0.51% to 3,999, with turnover of RMB550.44 billion. Among Chinese bank stocks, ICBC (601398.SH) 0.000 (0.000%) was flat at RMB7.04, CCB (601939.SH) +0.090 (+0.948%) rose nearly 1%, and CMB (600036.SH) +0.470 (+1.276%) gained 1.3%. Among Chinese insurers, CHINA LIFE (601628.SH) -0.360 (-0.931%) fell 0.9%, while CHINA PACIFIC INSURANCE (601601.SH) -0.100 (-0.337%) slipped 0.3%. In addition, BYD Company (002594.SZ) -0.790 (-0.893%) dropped 0.9%, while CONTEMPORARY AMPEREX (300750.SZ) -2.400 (-0.632%) declined 0.6%. Among chip stocks, SMIC (688981.SH) +6.870 (+4.896%) climbed 4.9%, while HUA HONG GRACE (688347.SH) +32.140 (+11.277%) surged 11.3%. AI chip stock CAMBRICON (688256.SH) +26.980 (+1.994%) rose 2%. Domestic GPU stocks METAX (688802.SH) +4.620 (+0.626%) and MOORE THREADS (688795.SH) +5.200 (+0.808%) gained 0.6% and 0.8%, respectively. LQKJ (688008.SH) +3.500 (+1.312%) rose 1.3%. Optical fibre stock YANGTZE OPTICAL FIBRE (601869.SH) -28.080 (-5.911%) fell 5.9%, while memory chip stock GIGADEVICE (603986.SH) -6.770 (-0.999%) declined 1%. LONGSYS (301308.SZ) +77.240 (+12.498%) , a leading mainland memory storage company, forecast interim net profit growth of up to 744x YoY, sending its shares up 12.5%. The broader memory chip sector also strengthened, with CECPORT (001287.SZ) +2.860 (+9.997%) hitting limit-up and EMPYREAN (301269.SZ) +17.250 (+16.785%) rising 16.8%. Innovative drug concept stocks rallied sharply. Sanyuan Gene rose 13.8%, while OBIO TECHNOLOGY (688238.SH) +0.700 (+12.027%) advanced 12%. The General Department of the National Medical Products Administration publicly sought opinions on the "Announcement on Matters Related to Optimizing the Review and Approval of Cell and Gene Therapy Drugs (Draft for Comment)", mentioning support for clinically value-oriented R&D innovation in cell and gene therapy drugs and inclusion of eligible cell and gene therapy drugs into the 30-day review and approval channel for innovative drug clinical trials. EVE ENERGY (300014.SZ) -1.240 (-2.027%) fell 2% after the company planned to reduce its stake in SMOORE INTL (06969.HK) -0.060 (-0.762%) Short selling $19.69M; Ratio 15.023% by no more than 3.5%. (jl/da)(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-07-03 16:25.) 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