PRE-MARKET CHINESE STOCK NEWS: NetEase (9999 HK) will become a dual primary listed company on the Hong Kong Stock Exchange, effective June 30th

Akeso (9926 HK) - Co. entered an exclusive agreement with Arrotex Pharma for the commercialisation of sugemalimab in Australia and New Zealand. (Newswires)

Alibaba (9988 HK) - Ant-backed DSC listed on Nasdaq in China's first cross-border IPO of 2026. (Newswires)

Geely Automobile (175 HK) - India is reportedly set to approve Geely-backed investment as China ties thaw, while the US Commerce Department banned sales of Chinese luxury EV Polestar, which is owned by the Co., from 2027 onwards. (Newswires)

Hengyi Petrochemical (000703 CH) - Co. prelim. H1 (CNY) net rose to 5.50-6.00bln (prev. 227mln Y/Y). (Newswires)

Lenovo Group (992 HK) - Co. targets USD 100bln in annual revenue within one to two years and said it is "well on track", while its CFO outlined net margin goals of above 3% in the near term, above 5% over three to five years and above 8% longer term. (Newswires)

NetEase (9999 HK) - Co. will become a dual primary listed company on the Hong Kong Stock Exchange, effective June 30. (Newswires)

Pacific Textiles Holdings (1382 HK) - Co. FY (HKD) net fell to 87.5mln (prev. 159.4mln Y/Y), rev. fell to 5.01bln (prev. 5.06bln Y/Y). (Newswires)

Powerlong Real Estate Holdings (6110 HK) - Co. prelim. Q1 rev. declined by the low-teens Y/Y. (Newswires)

Sunny Optical Technology (2382 HK) - Co. is seeking a Hong Kong listing for yuan-denominated bonds, with proceeds to be used to refinance existing indebtedness. (Newswires)

DeepSeek - Co. plans to double its workforce after raising more than USD 7.4bln in its first funding round. (WSJ)

Data Recap

• Hong Kong Balance of Trade (HKD)(May) -44.2B vs Exp. -30.0B (Prev. -29.5B)
• Hong Kong Exports YY (May) 40.8% vs Exp. 41.7% (Prev. 42.9%)
• Hong Kong Imports YY (May) 42.0% vs Exp. 40.2% (Prev. 44.4%)