<div id="readability-page-1"><div>Key economic data for Chinas three growth drivers all missed expectations. Fixed Asset Investment for the first four months fell 1.6% YoY, versus expectations for a 1.7% increase. Added Value of Industries Above Designated Scale rose 4.1% YoY in April, below the expected 6% growth. April retail sales increased 0.2% YoY, missing the expected 2% rise. The RMB central parity against the USD was set at 6.8435, down 20 bps MoM. Today (18th), the PBOC conducted RMB1 billion seven-day reverse repo operations in the open market at an unchanged rate of 1.4%. With RMB1 billion maturing, there was zero net injection or withdrawal for the day. The three major A-share indices opened 0.4% to 0.9% lower, briefly turned positive, but reversed again before midday, closing the half-day down 0.2% to 0.5%.The Shanghai Composite Index closed at 4,126 at midday, down 9 points or 0.2%, with turnover of RMB874.851 billion. The Shenzhen Component Index fell 48 points or 0.3% to 15,513, with turnover of RMB1.05 trillion. The ChiNext Index dropped 19 points or 0.5% to 3,909, with turnover of RMB504.716 billion.Among financials, ICBC (601398.SH) -0.020 (-0.276%) and CCB (601939.SH) -0.030 (-0.305%) each slipped 0.3%. CHINA PACIFIC INSURANCE (601601.SH) -0.770 (-2.229%) declined 2.2%. BYD Company (002594.SZ) -1.640 (-1.703%) fell 1.7%. CONTEMPORARY AMPEREX (300750.SZ) -7.270 (-1.716%) dropped 1.7% after announcing cooperation with Xiamen to establish a regional production base for high-performance automotive and energy storage lithium batteries, and to strengthen collaboration in the low-altitude sector.On its 25th trading day since listing, SEMIGHT INSTRUMENTS (688808.SH) +134.600 (+11.504%) sought to become the A-share &#34;New Stock King&#34;. The stock once soared to RMB1,361 and closed the half-day up 11.5% at RMB1,304.6, with turnover of RMB3.53 billion and a total market capitalization of RMB133.939 billion. Incumbent &#34;Stock King&#34; KWEICHOW MOUTAI (600519.SH) -7.930 (-0.595%) slipped 0.6% to RMB1,325.02 at midday, with turnover of RMB3.934 billion and a market capitalization of RMB1.66 trillion.In the chip sector, SMIC (688981.SH) -1.130 (-0.949%) fell nearly 1%, while HUA HONG (688347.SH) -1.620 (-1.079%) declined 1.1%. CAMBRICON (688256.SH) +19.010 (+1.572%) gained 1.6%. Domestic GPU makers METAX (688802.SH) +15.000 (+2.097%) and MOORE THREADS (688795.SH) +38.670 (+5.821%) rose 2.1% and 5.8%, respectively, after the unveiling of a National AI Application Pilot Base (Embodied Intelligence), where 18 leading companies including Unitree, METAX and MOORE THREADS formed a full industry chain alliance. LQKJ (688008.SH) +1.410 (+0.569%) edged up 0.6%. YANGTZE OPTICAL FIBRE (601869.SH) +20.530 (+5.483%) surged 5.5%.Leading domestic DRAM maker Changxin Technology is accelerating its IPO push. According to the Shanghai Stock Exchange website, Changxin Technology has completed updates to its financial reports and renewed its STAR Market IPO prospectus (filing draft), with the review status restored to &#34;Accepted&#34;. Memory chip stock GIGADEVICE (603986.SH) +27.530 (+7.335%) jumped 7.3%. The updated prospectus shows that GIGADEVICE holds a 1.8% stake in Changxin Technology, and its chairman Zhu Yiming also serves as chairman of Changxin Technology.</div></div>

510210

China's three major A-share indices fell 0.2%-0.5% at midday, with key economic data missing expectations. SEMIGHT INSTRUMENTS surged over 11% on its 25th trading day, aiming for 'New Stock King' status. The Shanghai Composite Index closed at 4,126, down 0.2%. Meanwhile, major financial stocks and chip sector stocks experienced declines, while some domestic GPU makers saw gains. Changxin Technology is accelerating its IPO push, with GIGADEVICE's stock rising 7.3%.

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A-Share Three Major Indices Slip 0.2%-0.5% at Midday; SEMIGHT INSTRUMENTS  Surges Over 11% to Vie for "New Stock King"