PRE-MARKET CHINESE STOCK NEWS: Alibaba receives approval for spin-off park, CATL plans fund raise, Yuanjie Semiconductor Technology net surges 1153% Y/Y
China
Alibaba (9988 HK / BABA) – Co. launches limited beta of Happyhorse 1.0 video model. In other news, the Co. received approval from the Hong Kong exchange to proceed with a proposed spin-off of a mainland warehouse park. (Alibaba/SCMP)
BYD Co. (1211 HK) - Co. is considering participating in Formula One racing as the sport increases its focus on electric motors. (Nikkei)
CATL (300750 CH / 3750 HK) – Co. is reportedly said to price its Hong Kong share placement at HKD 628.20/shr to raise funds to push into renewables. In other news, the Co. signed a large sodium-ion battery supply contract with an energy storage system provider amid strong demand for power infrastructure. (Bloomberg/SCMP)
China Coal Energy (1898 HK) - Co. Q1 (CNY) net fell 3.3% Y/Y to 3.84bln, rev. fell 10.9% Y/Y to 34.2bln. (Newswires)
China National Chemical Engineering (601117 CH) - Co. FY (CNY) net was -10.8bln vs prelim. -10.0bln and prev. -5.2bln Y/Y, rev. fell to 671.3bln (prev. 701.3bln Y/Y). (Newswires)
COSCO Shipping Energy Transportation (1138 HK) - Co. Q1 (CNY) net fell to 2.17bln (exp. 2.19bln), rev. fell to 7.30bln (exp. 9.11bln). (Newswires)
Foshan Haitian Flavouring & Food Co. (603288 CH) - Co. Q1 (CNY) net was 2.44bln (exp. 2.38bln), rev. was 9.03bln (exp. 9.17bln). (Newswires)
Haier Smart Home (6690 HK) - Co. Q1 (CNY) net fell to 4.65bln (exp. 5.31bln), rev. fell to 73.7bln (exp. 79.1bln). (Newswires)
HSBC (0005 HK) - Co. is reportedly reviewing certain perks which cover school fees for bankers in Hong Kong, as it aims to cut costs, Bloomberg reports, citing people familiar with the matter. Other options include removing the perk for new hires or adjusting overall compensation. No final decision has been made yet, and the review has been ongoing for some time. (Bloomberg)
Jiangsu Yanghe Distillery Co. (002304 CH) - Co. Q1 (CNY) net fell to 2.5bln (prev. 3.6bln Y/Y), rev. fell to 8.20bln (prev. 11.1bln Y/Y). FY (CNY) net fell to 2.21bln (prev. 6.7bln Y/Y), rev. fell to 19.2bln (prev. 29.0bln Y/Y). (Newswires)
Jiangsu Azure Corp. (002245 CH) - Co. FY (CNY) net was 1.29bln (exp. 1.22bln), rev. was 7.83bln (exp. 8.11bln). (Newswires)
Shenzhen Inovance Technology (300124 CH) - Co. FY (CNY) net was 5.05bln vs prelim. 4.97bln–5.40bln and exp. 5.36bln, rev. was 45.1bln (exp. 45.4bln) and guides FY26 net 5.56bln–6.57bln (exp. 6.45bln) and rev. 49.6bln–58.6bln (exp. 54.1bln). (Newswires)
Sungrow Power Supply (300274 CH) - Co. has filed a new application to list in Hong Kong, reviving earlier plans as it seeks offshore funding for overseas expansion. (SCMP)
Tsingtao Brewery (168 HK) - Co. Q1 (CNY) net rose to 1.80bln (exp. 1.68bln), rev. fell to 10.29bln (exp. 10.33bln). (Newswires)
Weichai Power (000338 CH) - Co. FY (CNY) net was 2.25bln (exp. 2.37bln), rev. was 161.4bln (exp. 160.1bln). (Newswires)
Yuanjie Semiconductor Technology (688498 CH) - Co. Q1 (CNY) net rose 1153% Y/Y to 179mln, rev. rose 321% Y/Y to 355mln. (SCMP)
Yunnan Aluminium (000807 CH) - Co. Q1 (CNY) net was 1.11bln (exp. 1.01bln), rev. was 13.1bln (exp. 12.4bln). (Newswires)
China Telecom (0728 HK) downgraded to Hold from Buy at HSBC.
Other News:
- Moody's changes China's outlook to stable from negative, affirms A1 ratings.