PRE-MARKET CHINESE STOCK NEWS: Tencent sells Kuaishou shares, Luxshare raises HKD 24.3bln, Meituan software becomes open-source

China

CK Hutchison (0001 HK) - Co. confirms that it is initiating the required information and consultation processes in connection with a contemplated change in ownership of Marionnaud. (CK Hutchison)

Great Wall Motor (2333 HK) - Co. has agreed on a new framework with Autoliv (ALV) to expand cooperation across global business growth. (Newswires) 

HSBC (0005 HK) - Co. has reportedly hired 3 senior bankers to its Capital Markets and Advisory team in Saudi Arabia, Reuters reports. (Reuters)

Luxshare Precision Industry (002475 CN) - Co. is said to have raised HKD 24.3bln after telling investors it wants to price shares for its HK listing at the maximum amount, Bloomberg reports. The Co. is planning to price shares at KHD 63.28/shr. (Bloomberg)

Meituan (3690 HK) - Co.'s LongCat-2.0 has been officially open-sourced, and domestic chip manufacturers are collectively adapting to it, The Paper reports. (The Paper)

Shanghai International Port Group (600018 CN) - Co. reports June container throughput +6.1% Y/Y. (Newswires)

Tencent (0700 HK), Kuaishou Technology (1024 HK) - Tencent sold 272.95mln shares of Kuaishou, decreasing the Co.’s shareholding to 9.37% from 15.68%. (Kuaishou) It was previously reported that Tencent was offering a 7.5% stake in Kuaishou, worth as much as USD 1.55bln.

Yunnan Yuntianhua (600096 CN) - Co.’s CFO is to step down, effective immediately. (Newswires)

BYD (002594 CN/0285 HK) downgraded to Sell from Neutral at Goldman Sachs

Other News

• The China Federation of Logistics and Purchasing says China opened 92 new international air cargo routes in H1’26. 
• Hong Kong’s MPF recorded a loss of HKD 24.4bln in June.