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Shanghai and Shenzhen Markets Open Higher; CATL (300750.SZ) Up Over 2% After Results; Lens Technology (300433.SZ) Gaps Down Nearly 9%
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The central parity of RMB against USD was set at 6.8616, lowered by 34 bps MoM. The People's Bank of China conducted RMB500 million seven-day reverse repurchase operations in the open market today (16th), with the operation rate unchanged at 1.4%. RMB500 million of reverse repos matured today. The three major A-share indices opened higher. The Shanghai Composite Index opened at 4,030 points, up 2 points or 0.07%. The Shenzhen Component Index opened at 14,546 points, up 47 points or 0.3%. The ChiNext Index opened at 3,531 points, up 16 points or 0.5%. Among financial stocks, Industrial and Commercial Bank of China (601398.SH) opened flat. China Construction Bank (601939.SH) opened down 0.1%. China International Capital Corporation (601995.SH) opened up 2.1% after forecasting 1Q26 net profit to increase 65% to 90% YoY. International oil prices fell sharply. CNOOC (600938.SH), PetroChina (601857.SH) and Sinopec (600028.SH) opened down 0.4% to 0.9%. Among oil and gas stocks, Zhongman Petroleum (603619.SH) and Shandong Molong Petroleum Machinery (002490.SZ) opened down 0.5% and 1.9%, respectively. Gold miner Zhaojin Mining (000506.SZ) opened down 2.9%, despite swinging to a profit of RMB187 million in 1Q26. Chip stocks were mixed. SMIC (688981.SH) A-shares opened down 0.4%, while Hua Hong Semiconductor (688347.SH) A-shares opened up 0.2%. AI chipmaker Cambricon (688256.SH) opened up 0.5%. Lens Technology (300433.SZ) gapped down 8.8% after reporting 1Q26 revenue of RMB14.14 billion, down 17.13% YoY, and a net loss attributable to shareholders of RMB150 million, compared with a profit a year earlier. In addition, CATL (300750.SZ) opened up 2.3%. Its 1Q26 profit rose 48.52% YoY to RMB20.738 billion, while revenue increased 52.45% YoY to RMB129.13 billion. CATL plans to invest in establishing a subsidiary, Times Resources Group, to integrate its existing mining assets, with a proposed registered capital of RMB30 billion. Market sources indicated the company is seeking removal from a US Department of Defense list. BYD (002594.SZ) opened up 0.2%. (ta/da) This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. Auto-translated by AI AASTOCKS Financial News |
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