Spot gold rallied about $30 intraday, briefly topping $4,040/oz, up 0.98% on the day.

Saudi government: Saudi Arabia's non-oil exports (including re-exports) grew 4.5% year-on-year in April.

Key News 1. Xi Jinping inspects Dezhou, Shandong. 2. The 23rd session of the 14th National People's Congress Standing Committee holds a joint meeting to review the State Council's report on the construction of a unified national market and conduct a special inquiry. 3. Seven departments, including the Ministry of Commerce, announce: Strictly crack down on illegal recycling and dismantling of scrapped motor vehicles, regulate the business operations of scrapped motor vehicle recycling companies, and rectify the illegal sale of scrapped motor vehicle parts. 4. The General Offices of five departments, including the Ministry of Industry and Information Technology, launch pilot projects for independent 5G private networks in the industrial sector. 5. The People's Bank of China (PBOC): On June 25, 2026, the PBOC will conduct a 500 billion yuan Medium-term Lending Facility (MLF) operation with a fixed quantity, interest rate, and multiple price levels, with a one-year term. 6. The PBOC: To better match the short-term liquidity needs of the banking system, the PBOC will increase overnight reverse repurchase operations in its open market operations on June 29 and June 30. Overnight reverse repurchase operations will adopt a fixed interest rate and quantity bidding method. Individual Stock News 1. Changjiang Electronics Technology: Plans to invest 7.8 billion yuan to build a high-end advanced packaging and testing factory. 2. Honghe Technology: Q-cloth has passed downstream customer certification and has mass production capability. 3. Aokang International (2 limit-up days in 4 days): Planning a major asset acquisition; stock suspended. 4. Dongyangguang: Subsidiary plans to sign a 200 million yuan IDC service project procurement contract. 5. Changjiang Electronics Technology (2 limit-up days in 3 days): Plans to invest 7.8 billion yuan to build a high-end advanced packaging and testing factory. 6. *ST Zhisheng: Removal of delisting risk warning from June 26; stock abbreviation changed to "Chuanda Zhisheng". 7. *ST Yushun: Removal of delisting risk warning from June 26; stock abbreviation changed to "Yushun Electronics". 8. Del Future (2 consecutive limit-up days): Current orders mainly consist of sporadic graphene testing business; order volume in 2026 is extremely small. 9. Shiming Technology: Products for M9 level or higher are currently only in the R&D reserve stage and have not yet entered mass production. 10. Ping An Electric (4 limit-up days in 8 trading days): The company's quartz cloth research and development is still in the sample verification stage and has not yet achieved industrial-scale supply. 11. Xiangxin Technology: Plans to acquire a 51% stake in liquid cooling heat dissipation company Coolcore Technology through a combination of cash acquisition and capital increase. 12. Hainan Haiyao (2 consecutive limit-up days): Its innovative anti-liver fibrosis drug, flufenidone capsules, has completed Phase II clinical trials, and Phase III clinical research is progressing as planned. 13. Huaheng Biotechnology: Actual controller and chairman Guo Henghua was criminally detained on suspicion of illegally absorbing public deposits; Fan Yi was elected as chairman.