PRE-MARKET CHINESE STOCK NEWS: Alibaba (9988 HK) launched a preview of its flagship Qwen3.8-Max model, PBoC benchmark LPRs were maintained for the 14th consecutive month, as expected

Alibaba Group (9988 HK) - Co. launched a preview of its flagship Qwen3.8-Max model, which it said is comparable with leading frontier AI models. (Newswires)

Anta Sports Products (2020 HK) - Co. guided for low-single-digit positive growth in Q2 retail sales for the Anta brand. (Newswires)

Anton Oilfield Services Group (3337 HK) - Co. reported Q2 new orders of CNY 3.1bln, up 3.2% Y/Y, expects oil and gas prices to remain uncertain amid the Middle East conflict and will advance the spin-off listing application for T-ALL Inspection. (Newswires)

China Coal Energy (1898 HK) - Co. reported June coal production of 42.7mln tonnes (prev. 43.4mln tonnes Y/Y). (Newswires)

China Resources Power Holdings (836 HK) - Co. reported June net generation rose 5.1% Y/Y to 19.35TWh. (Newswires)

China Sunshine Paper (2002 HK) - Co. expects H1 net profit to fall 25-40% Y/Y, partly due to higher raw-material prices. (Newswires)

CK Hutchison Holdings (1 HK) - Co.’s AS Watson unit may postpone its IPO due to potential regulatory issues, according to the FT; the Co. declined to comment. (Newswires)

CRRC Corporation (1766 HK) - Controlling shareholder CRRC Group proposed purchasing an additional CNY 150-300mln of the Co.’s A-shares. (Newswires)

Texhong International Group (2678 HK) - Co. H1 (CNY) net rose approximately 75% Y/Y to 812mln. (Newswires)

Xinyi Solar (968 HK) - Co. expects to report a H1 (CNY) net loss of CNY 50.0mln versus net profit of CNY 745.8mln Y/Y, citing lower solar panel installations and impairment provisions. (Dow Jones Newsplus)

Yuexiu Property (123 HK) - Co. expects H1 (CNY) net to fall 90-95% Y/Y to 50-100mln due to lower earnings from joint ventures and weakness in China’s property market.

Moonshot AI - Co. is reportedly considering a Hong Kong listing within the next six months. (Newswires)

Other News

Chinese Loan Prime Rate 1Y 3.00% vs. Exp. 3.00% (Prev. 3.00%)

Chinese Loan Prime Rate 5Y (Jul) 3.50% vs. Exp. 3.50% (Prev. 3.50%)

China’s top leaders are expected to decide on additional stimulus measures this month following a sharp slowdown in Q2 GDP, with leaders expected to focus on speeding up bond issuance at their next Politburo meeting expected to take place during the final week of July. (FT)

China is reportedly accelerating efforts to stabilise its equity market. (Newswires)

China Development Bank issued new loans to support trade stabilisation. (Newswires)

China launched a service consumption festival to boost service consumption during the summer and autumn seasons. (China Economic Net)

China’s Foreign Ministry said it will closely monitor the UK’s nationalisation of British Steel, which was previously owned by Jingye, while it said it will take appropriate measures to safeguard legitimate rights and interests if warranted. (Newswires)

China warned of severe flood risks with the flood control system remaining severe and complex, as the country’s main rain belt shifted south. (Newswires)