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PRE-MARKET CHINESE STOCKS NEWS: Alibaba (9988 HK) and Tencent (700 HK) are in talks to invest in DeepSeek

Alibaba and Tencent's potential investment in DeepSeek signifies a strategic collaboration that could enhance their AI capabilities, aligning with both companies' interests in tech innovation.

Newsquawk StaffPublished On the live feed at — 3 more headlines followed before this page went public
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Members of the Trump administration discussed plans to save Spirit Airlines at a meeting on Tuesday night, according to WSJ citing sources; Commerce Secretary Lutnick argued that rescuing the airline would help the GOP in the midterms

PBoC injects CNY 0.5bln via 7-day reverse repos with the rate at 1.40%

PRE-MARKET CHINESE STOCKS NEWS: Alibaba (9988 HK) and Tencent (700 HK) are in talks to invest in DeepSeek

Microsoft (MSFT) was reportedly considering the purchase of Cursor before the acquisition by SpaceX, according to CNBC

PBoC sets USD/CNY mid-point at 6.8650 vs exp. 6.8294 (Prev. 6.8635)

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Alibaba (9988 HK) - Co. is in talks with Tencent (700 HK) to invest in DeepSeek. (The Information)

Bank of Communications (3328 HK) - Co. has become the exclusive pilot bank for the China-Brazil bond market connectivity scheme. (AA Stocks)

China Mobile (941 HK) - Co. has established a 5G-A super uplink pilot testing base. (AA Stocks)

China Oilfield Services (2883 HK) - Co. Q1 (CNY) net 856mln (prev. 887mln Y/Y), rev. 11.3bln (prev. 10.8bln Y/Y). (Newswires)

China National Chemical Engineering (601117 CH) - Co. Mar (CNY) new contracts 114.9bln. (Newswires)

Chow Tai Fook Jewellery (1929 HK) - Co. Q4 retail sales fell 1.5% Y/Y, mainland China SSS rose 0.2% Y/Y. (Newswires)

Dongfeng Automobile (600006 CH) - Co. FY (CNY) net loss 480mln (prev. 29mln Y/Y), rev. 8.86bln (prev. 10.9bln Y/Y). (Newswires)

Huadian Power International (1071 HK) - Co. Q1 power generation fell 8.4% Y/Y to 59.0TWh. (Newswires)

JD Health (6618 HK) - Co.’s JD Pharmacy unit plans to leverage AI over the next decade to build 100 brands with sales exceeding CNY 10bln and 1,000 products with sales above CNY 100mln. (AA Stocks)

Juneyao Airlines (603885 CH) - Co. FY (CNY) net 1.04bln (exp. 999mln), rev. 22.5bln (exp. 22.3bln). (Newswires)

Lepu Medical Technology (300003 CH) - Co. FY (CNY) net 962mln (exp. 1.09bln), rev. 6.48bln (exp. 6.62bln). (Newswires)

Nanjing Iron & Steel (600282 CH) - Co. Q1 (CNY) net 597mln (prev. 578mln Y/Y), rev. 14.4bln (prev. 14.4bln Y/Y). (Newswires)

NetEase (9999 HK) - Co.’s games unit announced minor protection gaming time limits for the Labor Day holiday. (AA Stocks)

Shanghai Tunnel Engineering (600820 CH) - Co. FY (CNY) net 2.21bln (exp. 2.41bln), rev. 57.9bln (exp. 61.9bln). (Newswires)

Shanxi Xinghuacun Fen Wine Factory (600809 CH) - Co. FY (CNY) net 12.3bln (exp. 12.2bln), rev. 38.7bln (exp. 37.1bln). (Newswires)

Yifeng Pharmacy (603939 CH) - Co. FY (CNY) net 1.68bln (exp. 1.69bln), rev. 24.4bln (exp. 24.5bln); Q1 net 500mln (prev. 450mln Y/Y), rev. 6.09bln (exp. 6.41bln). (Newswires)

Li Auto (2015 HK) - Raised to Neutral from Underperform, price target HKD 70 by Exane BNP Paribas.

Context

This move may stimulate investor interest in the Chinese tech sector, reflecting a broader trend of consolidation and investment in AI and digital platforms in Asia.

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