PRE-MARKET CHINESE STOCKS NEWS: China's Commerce Ministry called on the US to abandon unilateral tariffs, while it will adjust countermeasures and monitor US actions

Antengene (6996 HK) - Co. announced a clinical collaboration with Junshi Biosciences (1877 HK) to explore the synergistic potential of ATG-037 (oral CD73 inhibitor) in combination with JS207. (Newswires)

Cathay Pacific (293 HK) - Co. reported Jan load factor fell 1.5ppts Y/Y to 84.9%, passenger traffic rose 12.3% Y/Y and capacity rose 14.3% Y/Y. (Newswires)

Chow Tai Fook (1929 HK) - Co. plans to hike prices of gold products sold in mainland China stores by mid-March. (AA Stocks)

Dawning Information Industry (603019 CN) - Co. reported prelim FY (CNY) net 2.11bln vs exp. 2.42bln, rev. 15.0bln vs exp. 14.6bln. (Newswires)

Han's Laser Technology Industry Group (002008 CN) - Co. plans to invest USD 150mln in Southeast Asia and establish an overseas operations centre. (Newswires)

Lenovo (992 HK) - US Appeals Court denied the petition from Intel (INTC) and Lenovo (992 HK) for writ of mandamus, challenging the denial of their request for institution of inter-parties review of USTA Technology patent. (Newswires)

Tencent (700 HK) - Co. has launched a new AI product “GameBoss”, positioned as a 24-hour AI gaming assistant. (AA Stocks)

XPeng (9868 HK) - Co. CEO targets doubling overseas sales this year and aims for overseas markets to contribute more than 70% of profit by 2030. (AA Stocks)

Tech

Key Chinese provinces are to raise technology spending in 2026 budget reports, including Guangdong, Zhejiang and Hainan. (China Securities Journal)

China aims to boost output of relatively advanced chips to 100k wafers in 1-2 years and has set a target of adding an additional 500k wafers of capacity by 2030. (Nikkei)

US Commerce Department official understands that no NVIDIA (NVDA) H200s have been sold to China yet. (Newswires)

Chinese drone maker DJI filed a lawsuit against the US FCC in the 9th Circuit Court of Appeals challenging a decision to ban imports of foreign-made new products and critical components. (Nikkei)

Hong Kong budget is speculated to include funding for tech hub and aerospace sector incentives. (SCMP)

Trade

China's Commerce Ministry called on the US to abandon unilateral tariffs, while it will adjust countermeasures and monitor US actions. MOFCOM also said it is willing to hold a 6th round of trade talks with the US. (Newswires)

US State Department officials said the US wants a stable relationship with China, but does not trust Beijing. (Newswires)

German Chancellor Merz said decoupling from China would hamper economic opportunities, while he added it is crucial that Sino-German competition is fair and transparent. (Newswires)

Other News

PBoC announced it will conduct a CNY 600bln one-year MLF operation via fixed-quantity, rate-bidding and multiple-price auction. (AA Stocks)

China state TV reported that the number of Lunar New Year holiday travellers and spending hit an all-time high. (Newswires)