PRE-MARKET CHINESE STOCKS NEWS: DeepSeek released its V4.1-Flash and said it outperforms its flagship V4-Pro

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China unveils its 15th five-year plan for new energy vehicle industry development

Anthropic report cited by a source on X stated that Houthi weapon cell use Claude for missile programming and Houthis attempted to develop missiles using AI generated code

PRE-MARKET CHINESE STOCKS NEWS: DeepSeek released its V4.1-Flash and said it outperforms its flagship V4-Pro

PBoC injects CNY 4bln via 7-day reverse repos with rate kept at 1.40%

PBoC sets USD/CNY mid-point at 6.7743 vs Exp. 6.7174 (prev. 6.7766)

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China CSSC Holdings (600150 CN) - Co. reported 25 deaths following a cargo ship fire at its Qingdao shipyard and said it has mobilised resources to address the incident. (Newswires)

China Jinmao (817 HK) - Co. reported August contracted property revenue fell to CNY 7.40bln from CNY 9.20bln M/M. (Newswires)

China Suntien Green Energy (956 HK) - Co. reported August power generation fell 7.5% Y/Y to 730 GWh. (Newswires)

Greenland Hong Kong Holdings (337 HK) - Co. reported August YTD contracted revenue rose to CNY 5.75bln (prev. CNY 4.19bln Y/Y). (Newswires)

Pou Sheng International (3813 HK) - Co. reported August revenue fell 9.0% Y/Y to CNY 1.13bln. (Newswires)

Shanghai Industrial Urban Development Group (563 HK) - Co. said a possible transaction is at a preliminary and exploratory stage after noting media reports that an application had been made to the Shanghai Stock Exchange for a REIT listing. (Newswires)

Yue Yuen Industrial (551 HK) - Co. reported August revenue fell 2.1% Y/Y to USD 637mln. (Newswires)

IPO/Listings

Tencent (700 HK)-backed Enflame is to debut in Shanghai on Friday in USD 912mln IPO. (Newswires)

Moonshot AI is exploring a dual listing in Hong Kong and Shanghai to boost capital and market exposure. (SCMP)

Tech

China plans to boost AI adoption across its software industry, according to US financial press. (Newswires)

Anthropic said Chinese AI labs secretly used millions of Claude exchanges to train their models. (Newswires)

DeepSeek released its V4.1-Flash and said it outperforms its flagship V4-Pro. (Newswires)

Trade

China's MOFCOM said China and the US are in consultations on an arrangement for a USD 30bln reciprocal tariff cut framework. (Xinhua)

China is extending its anti-dumping probe into pecans from Mexico and the US. (Newswires)

Other News

PBoC's Lu Lei said the Bank will refine the RRR framework and conduct open-market operations more flexibly and precisely. (Newswires)

PBoC and MAS are reportedly set to discuss financial cooperation. (Newswires)

China's Financial Regulatory Administration said it will vigorously clamp down on "price wars" and similar practices. (Xinhua)

China reportedly halted new battery projects pending a capacity review. (Caixin)

Context

A Chinese model developer releasing a lighter variant that it says matches or beats its own flagship fits a now-familiar pattern: successive open-source or low-cost Chinese models claiming parity with frontier systems have repeatedly repriced the capex and compute assumptions underpinning the global AI complex, with the spillover channel running through listed chipmakers, cloud providers and the energy names tied to data-centre demand rather than through the developer itself, which is unlisted. Self-reported benchmark claims of this kind have historically been discounted until independently verified, so the first tell is whether third-party evaluations corroborate the performance assertion. The broader wrap carries two items with more conventional transmission: reported consultations on a reciprocal tariff-cut framework, where past episodes of this kind have seen risk sentiment track the specificity and official confirmation of any arrangement rather than the headline size, and PBoC commentary on refining the reserve-requirement framework, which in prior instances has signalled operational easing delivered through liquidity operations rather than headline rate moves. Regulatory language on clamping down on price wars continues a campaign that has in past iterations been read as margin-positive for the sectors named. The IPO and dual-listing pipeline items indicate primary-market windows in Shanghai and Hong Kong remain open for AI-adjacent issuers.

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