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PRE-MARKET CHINESE STOCKS NEWS: China Evergrande New Energy Vehicle Group (708 HK) reports H1 (CNY) net 185.72mln; FY25 (CNY) net loss 891mln, FY24 (CNY) net 6.27bln

The Evergrande NEV print is the lead item, and the sequence matters: a small positive half-year net figure sitting against a full-year loss, with the prior-year comparison having swung from a large profit to a loss.

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PRE-MARKET CHINESE STOCKS NEWS: China Evergrande New Energy Vehicle Group (708 HK) reports H1 (CNY) net 185.72mln; FY25 (CNY) net loss 891mln, FY24 (CNY) net 6.27bln

PBoC sets USD/CNY mid-point at 6.7580 vs Exp. 6.7241 (prev. 6.7628)

Hong Kong Monetary Authority Chief Executive Eddie Yue says HKD may gradually ease after carry trade activity

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China Evergrande New Energy Vehicle Group (708 HK) - Co. reports H1 (CNY) net 185.72mln; FY25 (CNY) net loss 891mln, FY24 (CNY) net 6.27bln. (Newswires)

Prudential (2378 HK) - UBS Group AG crossed the 5% voting-rights threshold in the Co. and holds 5.118% including financial instruments. (Newswires)

Z.AI (2513 HK) - Co. reportedly raised its end-2026 ARR target by 25% to USD 3bln. (Newswires)

Zijin Mining Group (2899 HK) - Co.’s wholly owned subsidiary Zijin Xiamen Equity entered into a partnership agreement with Xiamen Puquan, Kunkun Investment and other partners to participate as a limited partner in the Shidai Shenyuan Fund. (Newswires)

HKMA

HKMA raised its base rate by 25bps to 4.25%, as expected, as the central bank moves in lockstep with the Fed to defend the USD/HKD peg.

Other News

US Treasury Secretary Bessent said the US is open to discussing shared risks with China in upcoming AI talks this weekend. (Newswires)

The US has identified Mexico and China as major drug transit countries. (Newswires)

China will promote cooperation on SMR technology, strengthen joint training of professionals and use multilateral platforms to broaden international collaboration, CAEA Director Shan Zhongde said. (Newswires)

Context

Numbers of this kind from distressed property-linked vehicle names have historically been driven more by one-off items, impairments and restructuring accounting than by underlying volumes, so the mix between operating and non-operating lines is the first thing to scrutinise when the filing details arrive. The broader pre-market bundle is characteristic of the Asian session: a mechanical HKMA move in lockstep with the Fed, which by design transmits nothing new to the HKD peg, and a series of single-name corporate items, the UBS threshold crossing in Prudential and the Zijin fund participation, that tend to matter for the individual names rather than the tape. The US-China AI talks headline fits the recurring pattern where such dialogues set tone for risk sentiment ahead of the session rather than delivering substance on the day. The follow-ons are the detailed Evergrande NEV filing, any read-across to the distressed China property complex, and headlines from the weekend AI discussions.

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