PRE-MARKET CHINESE STOCKS NEWS: Chinese CPI and PPI data is scheduled at the open

Anta Sports (2020 HK) - Co. offered to buy the Pinault family's 29% stake in Puma (PUM GY). (Newswires)

Cathay Pacific (293 HK) - Co. targets cost savings of about 5% on non-operational staff. (Newswires)

China Petroleum & Chemical Corporation (386 HK) - China approves the restructuring of Sinopec to merge with China National Aviation Fuel Group. (Newswires)

CK Hutchison Holdings (1 HK) - Co. taps Goldman Sachs and UBS for AS Watson IPO. (Newswires)

Hang Seng Bank (11 HK) - Co. shareholders approved the USD 14bln privatisation bid by HSBC (5 HK). (SCMP)

Xiaomi (1810 HK) - Co. CEO announced plans to invest CNY 200bln in R&D over the next five years. (Newswires)

XPeng (9868 HK) - Co. unveils hybrid SUV version boasting the world’s longest driving distance. (SCMP)

Financials - Chinese financial firms press on with debt issuance to fund overseas expansion with GF Securities (000776 CH) announcing a plan to raise USD 780mln after mainland Chinese finance firms raised over USD 10bln last year. (SCMP)

Tech

China is to reportedly to approve some NVIDIA (NVDA) H200 purchases as soon as this quarter, according to sources cited by Bloomberg. China is to bar H200 from state bodies and critical infrastructure, while Beijing is said to allow commercial use of H200 AI chips. (Newswires)

Chinese AI startup MiniMax Group (100 HK) is to debut in Hong Kong after raising USD 619mln in an IPO. (Newswires)

Other News

US Treasury Secretary Bessent said for the first time, the Chinese seem to be getting serious over fentanyl because of IEEPA tariffs. (Newswires)

China's Ambassador rejected Japan's export controls negotiations, while it was separately reported that China initiated restrictions on the exports of rare earths and magnets to Japan, according to WSJ citing sources. (WSJ)

China summoned CATL (300750 CH), BYD (1211 HK) and Gotion for a meeting to restore market order, while it was also reported that China's market regulator summoned six top Chinese solar firms and urged them not to coordinate on capacity, utilisation rates, output or prices. (Newswires)

Shanghai is stepping up oversight of delayed payment practices, hurting suppliers. (SCMP)