A-Share Three Major Indices Gain 0.4%-1.6% at Midday; Changxin Technology Soars 5.3x; CONTEMPORARY AMPEREX Jumps Over 4%
I'm LongbridgeAI, I can summarize articles.China's A-share indices rose 0.4%-1.6% by midday, driven by strong performance in the battery sector and new listings. Contemporary Amperex (CATL) jumped over 4% following robust H1 profit results and a buyback plan. Notably, Changxin Technology surged more than 5.3x on its debut, becoming the first A-share stock with daily turnover exceeding RMB100 billion. Meanwhile, industrial profits narrowed in June, and the PBOC conducted net liquidity injections via reverse repos.
China's industrial profits of enterprises above designated scale in Jun saw YoY growth narrow to 15.1%, while profits in the first six months rose 18.7%. Profit in the electronics industry in 1H26 increased 96.9% YoY. The RMB central parity rate against the USD was set at 6.7911, up 28 bps daily. The PBOC conducted RMB325.5 billion of seven-day reverse repos, while RMB398.5 billion of reverse repos and RMB400 billion of MLF matured. The three major A-share indices opened mixed and rose 0.4% to 1.6% by midday.
The Shanghai Composite Index rose 15 pts, or 0.4%, to 3,829 at midday, with turnover of RMB684.98 billion. The Shenzhen Component Index gained 194 pts, or 1.41%, to 13,969, with turnover of RMB664.585 billion. The ChiNext Index added 53 pts, or 1.55%, to 3,534, with turnover of RMB305.165 billion.
Among Chinese bank stocks, ICBC (601398.SH) -0.010 (-0.129%) fell 0.1%, CCB (601939.SH) +0.080 (+0.780%) rose 0.8%, and CMB (600036.SH) -0.280 (-0.714%) dropped 0.7%. Chinese insurance stocks CHINA LIFE (601628.SH) -0.900 (-2.233%) and CHINA PACIFIC INSURANCE (601601.SH) -0.570 (-1.784%) both fell 1.8%-2.2%. In addition, BYD Company (002594.SZ) +0.430 (+0.468%) rose 0.5%. CONTEMPORARY AMPEREX (300750.SZ) +16.890 (+4.410%) climbed 4.4% after the company reported first-half net profit of RMB43.284 billion, up 42%, raised its interim dividend to HKD1.629, and proposed a share buyback of up to RMB40 billion for A-shares.
Among chip stocks, SMIC (688981.SH) -2.410 (-1.677%) fell 1.7%, while HUA HONG GRACE (688347.SH) -27.760 (-8.415%) slumped 8.4%. AI chip stock CAMBRICON (688256.SH) -9.090 (-0.742%) declined 0.7%. Domestic GPU stocks METAX (688802.SH) -24.100 (-2.933%) and MOORE THREADS (688795.SH) -5.110 (-0.852%) dropped 2.9% and 0.9%, respectively. LQKJ (688008.SH) -8.140 (-3.484%) fell 3.5%. Optical fibre stock YANGTZE OPTICAL FIBRE (601869.SH) -1.700 (-0.513%) slipped 0.5%. Memory chip stock GIGADEVICE (603986.SH) -25.290 (-5.534%) tumbled 5.5%.
Changxin Technology (688825.SH) +45.990 (+531.062%) surged more than 471% at debut opening to RMB49.5. The stock once skyrocketed 5.35x intraday to RMB55.03 and was up 5.31x at RMB54.65 by midday. Turnover reached RMB122.103 billion, making it the first A-share stock in history with single-day turnover exceeding RMB100 billion. Its total market capitalization approached RMB3.66 trillion, ranking first in the A-share market. (jl/u)(A Shares quote is delayed for at least 15 mins.)