PRE-MARKET CHINESE STOCKS NEWS: Alibaba (9988 HK) secured preliminary injunction from a US federal judge preventing the government from denying Pentagon contracts to companies solely because they conduct business with lobbying firms representing Aliba

Alibaba Group (9988 HK) - Co. secured a preliminary injunction from a US federal judge preventing the government from denying Pentagon contracts to companies solely because they or their affiliates conduct business with lobbying firms representing Alibaba. (Nikkei/Reuters)

ASMPT (522 HK) - Co. Q3 (HKD) net 689.7mln (exp. 564.8mln; prev. loss 270mln Y/Y), rev. 5.25bln (prev. 3.66bln Y/Y), adjusted gross margin 42.9% (prev. 37.7% Y/Y), guides Q4 rev. HKD 630-730mln and bookings below Q3's record level; Co. said larger HBM capability-driven investments are being delayed as customers reassess costs and technical requirements, while TCB bookings reached a record amid strong AI data centre demand. (Newswires)

Asia Cement (China) Holdings (743 HK) - Co. 9M (CNY) net loss 301mln (prev. profit 146mln Y/Y), rev. 3.33bln (prev. 3.73bln Y/Y). (Newswires)

Baoshan Iron & Steel (600019 CH) - Co. Q3 (CNY) net fell 30.0% Y/Y to 2.17bln, rev. rose 4.8% Y/Y to 84.9bln. (Newswires)

China Communications Construction (1800 HK) - Co. 9M (CNY) value of new contracts fell 12.6% Y/Y to 1.17tln. (Newswires)

China Railway Signal & Communication (3969 HK) - Co. Q3 (CNY) adjusted net fell 10.9% Y/Y to 547mln, rev. fell 1.8% Y/Y to 6.95bln. (Newswires)

Chongqing Fuling Zhacai (002507 CH) - Co. Q3 (CNY) net fell 11.8% Y/Y to 205mln, rev. rose 2.4% Y/Y to 702mln. (Newswires)

Daqin Railway (601006 CH) - Co. Q3 (CNY) net 1.57bln (prev. 2.11bln Y/Y), rev. 18.6bln (prev. 19.8bln Y/Y). (Newswires)

Datang International Power Generation (991 HK) - Co. 9M on-grid power generation rose 1.2% Y/Y to 209GWh. (Newswires)

Ferretti (9638 HK) - Co. cut FY26 profit guidance to EUR 174-185mln while reaffirming full-year revenue guidance, with reported profitability declining to 14.7% from 16% and Q3 revenue rebounding 13.6% following a 5.6% decline in H1. (Newswires)

HKBN (1310 HK) - Co. FY26 (HKD) net 317mln (prev. 207mln Y/Y), rev. 11.8bln (prev. 11.1bln Y/Y). (Newswires)

Hualan Biological Engineering (002007 CH) - Co. Q3 (CNY) net fell 82.4% Y/Y to 47.2mln, rev. fell 35.8% Y/Y to 1.02bln. (Newswires)

Huaneng Power International (902 HK) - Co. Q3 (CNY) adjusted net fell 77.8% Y/Y to 1.24bln, rev. fell 3.3% Y/Y to 58.9bln. (Newswires)

Jiangsu Expressway (177 HK) - Co. Q3 (CNY) net fell 4.5% Y/Y to 1.35bln, rev. rose 70.7% Y/Y to 6.10bln. (Newswires)

Meituan (3690 HK) - Co. priced CNY 4.5bln of 2.50% senior notes due 2031 and CNY 3.5bln of 3.10% senior notes due 2036, raising a combined CNY 8bln before fees and expenses. (Newswires)

Pop Mart (9992 HK) - Co. guides Q3 rev. to fall 45-50% Y/Y, with revenue from operations in China also declining. (Newswires)

Sands China (1928 HK) - Co. priced USD 1bln of senior notes due 2032 and 2034 at 99.851% and 99.954% of principal, respectively, with proceeds to be used to redeem its outstanding USD 700mln 2.30% notes due 2027. (Newswires)

Shanghai Fosun Pharmaceutical (2196 HK) - Co. Q3 (CNY) net rose 15.2% Y/Y to 946mln, rev. rose 1.4% Y/Y to 10.0bln. (Newswires)

Sinotrans (598 HK) - Co. Q3 (CNY) net rose 29.9% Y/Y to 951mln, rev. rose 4.2% Y/Y to 25.5bln. (Newswires)

Tongling Nonferrous Metals (000630 CH) - Co. Q3 (CNY) net 2.05bln (prev. 333mln Y/Y), rev. 62.8bln (prev. 45.8bln Y/Y). (Newswires)

WH Group (288 HK) - Co. 9M (USD) net 1.02bln (prev. 1.17bln Y/Y), rev. 20.6bln (prev. 20.5bln Y/Y), pork sales rose to 3.06mln tonnes (prev. 2.97mln tonnes Y/Y). (Newswires)

The lead item sits in the well-worn genre of US-China friction over Chinese firms' access to US government contracts, where lobbying and procurement restriction clauses have been a recurring battleground. Courts granting preliminary injunctions in this space typically signal that the restriction as drafted overreaches statutory authority, and such rulings have historically produced narrow procedural wins rather than durable resolutions, since agencies tend to redraft rather than abandon the underlying objective. The distinction worth drawing is between a judicial check on process and any change in the strategic trajectory: precedent in comparable disputes is that the policy pressure re-emerges through amended rules or new legislation. The follow-ons are whether the government appeals, whether the injunction's scope widens or narrows at full hearing, and any parallel measures targeting the company through other channels. The rest of the tape is a routine Q3 batch: weakness concentrated in power generation, cement and steel consistent with the construction and industrial cycle, ASMPT flagging delayed HBM investment decisions even as AI-linked bookings hold, and Pop Mart guiding to a sharp revenue decline, with Meituan and Sands China both active in debt markets on refinancing and terming-out.