PRE-MARKET CHINESE STOCK NEWS: Alibaba bans Claude Code for employees but also gets reprieve from lobbying ban, CATL buys 20% stake in CarbonScope, Chery formally takes Nissan's South African plant

China

Alibaba (9988 HK/BABA) - Co. has reportedly banned employees from using Claude Code from July 10, citing backdoor security risks, Yicai reports. In other news, a US federal judge has ordered the Pentagon to give the Co. a reprieve from a lobbying ban tied to the Pentagon's curbs on Chinese companies. (Yicai/Bloomberg)

Asceltis Pharma (1672 HK) - Co. submits 2 IND applications to the US FDA for obesity treatment. (Asceltis Pharma)

CATL (300750 CN) - Co. has taken a 20% stake in New Zealand’s CarbonScope to develop graphite from wood. (NZHerald)

Chery (9973 HK) - Co. has formally taken over Nissan's (7201 JT) car manufacturing plant in South Africa, with plans to spend millions of dollars upgrading and adding machinery to the plant. (Reuters)

Chuangxin Industries (2788 HK) - Co. sees H1 net income between CNY 2.2-2.4bln, supported by the higher selling price of electrolytic aluminium product and lower finance costs. (Chuangxin Industries)

MMG (1208 HK) - Co. announces that the EU has extended the review of its acquisition of Anglo American’s (AAL LN) nickel business in Brazil, extending the date to October 31st. (MMG)

Shanghai Biren Technology (6082 HK) - Co. plans to raise HKD 7.07bln through a share placement. (Newswires)

Other News

• China released draft amendments to its e-commerce law, changing platform responsibility rules by adding regulatory measures alongside existing penalties.
• Hong Kong is to reportedly launch a gold clearing and settlement system, SCMP reports.