PRE-MARKET CHINESE STOCKS NEWS: CK consortium agreed to sell all of its interest in UK Power Networks to French multinational electric utility Engie (ENGI FP) in a deal valued at GBP 10.5bln
CK Group - Consortium involving CK Infrastructure Holdings (1038 HK), CK Asset Holdings (1113 HK) and Power Assets Holdings (6 HK) agreed to sell all of its interest in UK Power Networks to French multinational electric utility Engie (ENGI FP) in a deal worth GBP 10.5bln. (SCMP)
IMAX China Holding Inc. (1970 HK) - Co. FY (USD) net profit 37.7mln (prev. 22.2mln Y/Y), operating profit 47.2mln (prev. 27.5mln Y/Y), revenue 102.3mln (prev. 81.0mln Y/Y). (Newswires)
Minmetals Land Ltd (230 HK) - Co. scheme was sanctioned (without modification) by the court on Wednesday. (Newswires)
Nine Dragons Paper Holdings Ltd (2689 HK) - Co. H1 (CNY) net profit 1.97bln (prelim. 1.95bln-2.05bln), revenue 37.2bln (prev. 33.9bln Y/Y). (Newswires)
Xiaomi (1810 HK) - Co. is doubling down on its five-year plan for core technologies including chips, artificial intelligence and operating systems. (SCMP)
Tech - China's DeepSeek withholds its upcoming model from NVIDIA (NVDA) and AMD (AMD), while it granted early access to Huawei and others in China. (Newswires)
Lithium Stocks - Zimbabwe banned lithium exports. (Newswires)
Data Recap
- Hong Kong CPI Composite YY (Jan) 1.1% vs Exp. 1.2% (Prev. 1.4%)
The CK consortium's sale of its interest in UK Power Networks to Engie for GBP 10.5 billion indicates a significant shift in strategic focus for these firms towards less capital-intensive assets. This deal not only impacts the involved parties but also suggests potential ripple effects in the electric utilities sector, which may see similar future consolidation trends, particularly within the European energy landscape.