Midday report: The ChiNext Index hit a four-year high, rising 2.62% in the morning session. The battery and securities sectors all saw gains.

The three major indices all rose in the morning session. By noon, the Shanghai Composite Index was up 0.63%, the Shenzhen Component Index rose 1.74%, the ChiNext Index rose 2.62%, and the CSI 500 Index rose 1.83%. The total market turnover was 1.5131 trillion yuan, an increase of 78 billion yuan from the previous day, with over 4400 stocks rising in the market. In terms of sector themes, the battery, securities, two-wheeler, weight-loss drugs, Inner Mongolia, photovoltaic equipment, education, electric motor, and liquid cooling server sectors were among the top gainers. Precious metals, optical fibers, ports and shipping, and oil and gas exploration and service sectors performed poorly. On the market front, leading brokerage firm Citic Securities reported strong first-quarter results yesterday, boosting the securities sector in the morning session. Citic Securities approached the daily limit at one point, with GF Securities and Huatai Securities following suit. The Ministry of Industry and Information Technology and three other departments emphasized governance of the battery industry to prevent "cutthroat competition," boosting related sectors. Contemporary Amperex Technology Co., Ltd. hit the daily limit, while Xinwanda surged 15%. In addition, innovative drugs, liquid cooling servers, and local stocks in Inner Mongolia all performed well. On the other hand, gold stocks experienced a pullback, with Zhongjin Gold leading the decline. Fiber optic concept stocks gave back some of their gains from the previous day, with Fiberhome Communications and Far Eastone Communications both falling.