PRE-MARKET CHINESE STOCK NEWS: Sino Biopharma reaches agreement with AstraZeneca, CATL obtains mine permit
China
CATL (300750 CN) - Co. has obtained a safety production permit for its Jianxiawo mine as it clears a key regulatory hurdle to restart production. (Reuters)
China Merchants Securities (600999 CN) - Co. prelim. H1 (CNY) net 10.0-11.0bln (prev. 5.19bln Y/Y). (Newswires)
DeepSeek - Co. is reportedly developing its own AI chip to reduce reliance on Nvidia (NVDA) and Huawei chips, Reuters reports. (Reuters)
InSilico Medicine Cayman TopCo (3696 HK) - The Co.’s AI-discovered drug Rentosertib has entered Phase 3 trial in China for the treatment of pulmonary fibrosis. (Newswires)
Luxshare Precision Industry (002475 CN) - Co. priced its HK listing at HKD 63.28/H-shr, the top end of its marketed range, as it looks to raise about HKD 24.27bln. (Luxshare Precision Industry)
Momenta Global (6880 HK) - Co. says it has priced its HK listing at HKD 295.60/shr, aiming to raise HKD 5.89bln. (Momenta Global)
Sino Biopharmaceutical (1177 HK) - Co. enters exclusive licence agreement with AstraZeneca (AZN LN) for TQC3721. Sino will allow AstraZeneca an exclusive license to develop, manufacture and commercialise TQC3721 outside China. Eligible for USD 200mln upfront, with milestones totalling up to USD 1.9bln. (Sino Biopharmaceutical)
Other News
- Chinese authorities reportedly held meetings with firms such as Alibaba (9988 HK), ByteDance and Z.ai over the past month about potentially restricting overseas access to its most advanced AI models, Reuters reports.
- Zhipu AI is weighing designing its own AI chip as surging demand and US export controls make computing resources a growing constraint, according to The Information.
- The China Securities Regulatory Commission says it is paying close attention to the case brought by Susquehanna International Group against alleged insider traders.
- The PBoC bought 480k troy ounces of gold in June, its biggest purchase since October 2023.