Market Overview - The Shanghai and Shenzhen stock markets opened lower on June 13, with significant declines observed by midday. The Shanghai Composite Index closed at 3378.01 points, down 0.72%, with a trading volume of approximately 367.1 billion yuan [1] - The Shenzhen Component Index fell 1.15% to 10116.26 points, with a trading volume of about 545.1 billion yuan. The ChiNext Index decreased by 1.14% to 2043.61 points, with a trading volume of around 259.7 billion yuan [1] - The Science and Technology Innovation Board Index dropped 1.35% to 1174.22 points, with a trading volume of approximately 66.1 billion yuan. The North Star 50 Index fell 1.43% to 1404.06 points, with a trading volume of about 24.1 billion yuan [1] Sector Performance - The mining service sector saw significant gains in the morning session, while sectors such as nuclear pollution prevention, precious metals, combustible ice, jewelry, port shipping, aerospace, and gas also experienced notable increases [1] - Conversely, sectors such as beauty care, blind box economy, and AI corpus faced the largest declines [1] Industry Insights - CITIC Securities highlighted that the current high valuations of domestic gold mining stocks have sparked discussions on valuation methods and potential upside. The combination of rising gold prices and increased production capacity is expected to drive the price-to-earnings (PE) ratio higher [2] - The domestic gold mining sector is considered significantly undervalued in terms of cash flow and resources, with potential for revaluation as new valuation methods are adopted [2] - Guotai Junan Securities noted the growing application of unmanned logistics vehicles, primarily in last-mile delivery for express services, with several companies, including startups and established logistics firms, launching their products [2]