PRE-MARKET CHINESE STOCKS NEWS: Automaker sales updates

China Coal Energy (1898 HK) - Co.'s coal mine in Shanxi reportedly collapsed, resulting in four fatalities, while the accident occurred on April 1st. (Newswires)

Chery Automobile (9973 HK) - Co. reported March total vehicle sales rose 15% Y/Y to 228.5k units, while Q1 total vehicle sales fell 3.1% Y/Y to 566.1k units. (Newswires)

BYD Co. (1211 HK) - Co. reported March vehicle unit sales of 300.2k units (prev. 377.4k Y/Y). (Newswires)

Geely Automobile (175 HK) - Co. reported March vehicle unit sales were flat Y/Y at 233k units. (Newswires)

Great Wall Motor (601633 CN) - Co. reported March vehicle production rose 22.8% Y/Y to 122.9k units, while sales rose 8.4% Y/Y to 106.2k units. (Newswires)

SAIC Motor (600104 CN) - Co. FY25 (CNY) net 10.1bln (Exp. 10.9bln, guided 9-11bln), rev. 646.2bln (Exp. 673.5bln), while it guided initial FY26 (CNY) rev. above 700.0bln and vehicle unit sales above 5mln. (Newswires)

Seres Group (601127 CN) - Co. reported March vehicle unit sales rose 11.7% Y/Y to 27.5k units, while Q1 total vehicle sales rose 29.4% Y/Y to 88.4k units. (Newswires)

Sihuan Pharmaceutical (460 HK) - Co. signed a strategic collaboration agreement with Biocytogen to conduct innovative drug R&D. (Newswires)

Zhipu (2513 HK) – Co. releases GLM-5V-Turbo model. (Newswires)

Other News

Chinese Premier Li urged for the acceleration of energy structure adjustment. (Newswires)

China said it will target financial resources more precisely toward tech innovation areas, while the PBoC, MIIT, NFRA, and CSRC held a meeting to advance tech finance cooperation. China added that it will enrich financial products tailored to high-tech sectors and urged boosting financial services for innovations, according to a statement. (Newswires)

China is to purchase frozen pork for state reserves again and the NDRC vowed to boost the pork stockpile for a stable market. (Newswires)

Goldman Sachs abandoned its call for the PBoC to cut key rate by 10bps in 2026, but maintains call for a 50bps RRR cut this year. (Newswires)

Data Recap

Hong Kong Retail Sales Value Y/Y (Feb) 19.3% vs. Exp. 12.2% (Prev. 5.5%)
Hong Kong Retail Sales Volume Y/Y (Feb) 17.5% vs. Exp. 8.9% (Prev. 3.4%)