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RMB Financial News, March 13 — According to a report from the American Columbia Broadcasting System on the 12th, earlier this week, an Iranian vessel sailed "too close" to the U.S. "Lincoln" aircraft carrier, and the U.S. military fired a missile at it and made a direct hit. The current status of the vessel and its crew remains unknown. (Xinhua News Agency)

According to iFinD statistics, as of March 12, a total of 99 stocks in the Shanghai and Shenzhen markets received net margin purchases for 5 consecutive days or more. The stock with the most consecutive days of net margin purchases is Air China, which received net purchases for 13 consecutive trading days; other stocks with relatively many consecutive days of net margin purchases include China Petroleum & Chemical Corporation, Huahong Semiconductor, Sifang Co., Ltd., Kaishan Stock, Yicheng New Energy, Weiten Electric, Shanghai Environment, Tianyuan Stock, etc.

Renmin Finance News March 12 - Hong Kong's Hang Seng Index and Hang Seng Tech Index both fell more than 1%.

People's Finance News, March 13 — The market opened lower but moved higher throughout the session. As of press time, all three major indices have turned positive, with the Shanghai Composite up 0.03%, the Shenzhen Component up 0.36%, and the ChiNext Index up 0.57%. The sectors leading the gains include chemicals, steel, and coal.

U.S. Trade Representative Gier announced that it will launch Section 301 investigations against 16 trading partners, including China and the European Union, to investigate unfair trade practices and may recommend the implementation of unilateral sanctions, demonstrating a strong unilateral tendency.

People's Finance News on March 12 reported that Brent crude oil futures surged 9%, rebounding above $100. WTI crude oil futures expanded gains to 9%.

Renmin Finance News on March 12 reported that Hai'an Group (001233) recently stated in an investor relations activity that among the mines the company serves, tire-related revenue generated from metal ore types is expected to increase significantly in the future.

People Finance News, March 13 — According to information obtained by reporters on the 13th from the China Satellite Navigation System Management Office, to provide better quality services, China will implement in-orbit upgrades to the BeiDou Satellite Navigation System. (Xinhua News Agency)

People Finance News, March 12 - The coal sector surged with volatility, with Yanzhou Coal Mining hitting the daily limit, China Coal Energy and Zhengzhou Coal and Electricity rising over 7%, and Lu'an Environmental Energy and Shaanxi Black Cat rising over 6%.

People's Finance News, March 12 — The ChiNext Index fell more than 1%, while the Shanghai Composite Index rose slightly by 0.13%. The defense industry and electronic components sectors led the declines.

People Finance News, March 13 - The fertilizer concept surged significantly, with Chitian Chemical, Luzhou Tianhua, Kingenta, and others hitting the daily limit up, Chuanjingnuo rising over 17%, Fubon Technology climbing over 11%, while Dongfang Tower, Batian Shares, Qinghai Salt Lake Potash, and others rallied sharply.

RMB Finance News March 13 – The steel sector surged rapidly, with Jiu Gang Hong Xing hitting the daily limit up, followed by gains in Liu Gang Co., Ltd., An Gang Co., Ltd., Hainan Mining, Chongqing Iron and Steel, and Ling Gang Co., Ltd.

People's Financial News, March 13 — Iran's Islamic Revolutionary Guard Corps stated on the 12th local time that in the early morning of that day, the Islamic Revolutionary Guard Corps Navy conducted two waves of precise missile and drone strikes against the headquarters of the U.S. Navy's Fifth Fleet at Mina Salman Port in Bahrain. According to reports, the strikes precisely hit the base's "Lizs" anti-drone system, unmanned surface vessel center, logistics equipment center, fuel storage facilities, and areas where U.S. soldiers were gathered. The operation employed multiple types of destructive drones, cruise missiles, and ballistic missiles. (CCTV News)

People's Finance News, March 13 — The Iranian Armed Forces General Staff issued a statement on March 12 local time, stating that it will make every effort to safeguard national security under the leadership of Iran's Supreme Leader and Commander-in-Chief of the Armed Forces, Mujtaba Khamenei. The statement stated that the Iranian Armed Forces will, under the order of the Supreme Leader, defend the achievements of the Islamic Revolution with a more determined attitude than in the past, and expressed their commitment to defend national interests and security "until the last drop of blood." (CCTV News)

The General Administration of Customs announcement will promote a cross-district return mode for cross-border e-commerce retail export goods, applicable to the "9610 mode." Returned goods can only be returned to the corresponding Customs supervision sites. Enterprises must have standardized operations and functional work areas, and connect with the Customs system. This policy will be implemented as of April 1, 2026.

People Finance News, March 13 — On March 13, the three major indices opened lower across the board, with the Shanghai Composite Index opening down 0.28%, the Shenzhen Component Index opening down 0.51%, and the ChiNext Index opening down 0.63%. In terms of sectors, oil, coal, wind power, industrial gas, and coal chemical concepts opened actively; precious metals, minor metals, communication equipment, semiconductors, CPO, and F5G concepts opened lower.

Recently, the A-share market has shown volatile performance with the three major indices closing slightly lower. Green energy and chemical sectors demonstrated strength, while gas turbine and military-industrial sectors underwent adjustments. Analysis indicates that Middle East geopolitical tensions and earnings disclosures will influence market sentiment, with expectations for continued wide-range volatility in the near term. Investors are advised to focus on sector sentiment indicators and maintain reasonable position control.

Sichuan Chuanfa Low-Altitude Economy Operation Co., Ltd. was recently established with a registered capital of 100 million yuan, involving businesses in general aviation, unmanned aerial vehicle sales, and artificial intelligence. The company is jointly held by multiple enterprises.

# The Narrow Window
An old window frame lets in a complete beam of sunlight.
In this 11 square meter space known as the "Chasing Light Cottage," what has changed is not only the color of the walls, but also the straightened spine and forward-looking eyes of a child. This kind of change is like a quiet breaking through of soil.
In this bustling metropolis of Shanghai, among those old residential neighborhoods forgotten by time, many adolescents in difficult circumstances, like 16-year-old Xiaoyuan (pseudonym), are searching for the strength to grow upward in narrow crevices. And the "Chasing Light Cottage" is the first ray of dawn light cast into that gap.
A Curled Night
Xiaoyuan's home is in an old residential community in Minhang District, Shanghai. The stairwells here are narrow and dark, with wall plaster peeling off in patches here and there. The flaking areas have been filled with newly applied putty, white new marks mixing with yellowed old walls like a patched-up piece of old cloth, the humid and

People's Finance News, March 13: FTSE China A50 Index futures fell 0.43% at the opening.