PRE-MARKET CHINESE STOCKS NEWS: Earnings and sales updates including from Aluminium Corporation of China,
Aluminium Corporation of China Ltd. (601600 CN) - Co. prelim Q1 (CNY) net rose 50-58% Y/Y to 5.3-5.6bln. (Newswires)
Anhui Jianghuai Automobile Group Corp. Ltd. (600418 CN) - Co. March vehicle production fell 18.5% Y/Y to 28.9k, vehicle sales fell 21.8% Y/Y to 29.1k. (Newswires)
BYD Co. Ltd. (002594 CN) - Co. plans to establish 20 car dealerships in Canada and expects to open later this year with partners. (Newswires)
Daqin Railway Co. Ltd. (601006 CN) - Co. March Daqin line cargo transportation rose 6.4% Y/Y to 37.5mln tons. (Newswires)
Gemdale Properties and Investment Corp. Ltd. (535 HK) - Co. March (CNY) contracted sales 2.3bln (prev. 3.1bln Y/Y). (Newswires)
Guangxi Guiguan Electric Power Co. Ltd. (600236 CN) - Co. Q1 power generation rose 49.1% Y/Y to 11.1GWh. (Newswires)
Legend Holdings Corp. (3396 HK) - Co. to dispose of 11.29% stake in Eastern Air Logistics Co. for CNY 2.72bln to China Logistics Capital. (Newswires)
Ningbo Port Co. Ltd. (601018 CN) - Co. March container throughput rose 7.1% Y/Y to 4.5mln TEUs. (Newswires)
Powerlong Real Estate Holdings Ltd. (1238 HK) - Co. March (CNY) contracted sales 1.9bln (prev. 2.6bln Y/Y). (Newswires)
Qingdao TGOOD Electric Co. Ltd. (300001 CN) - Co. prelim FY (CNY) net 1.24bln (exp. 1.17bln), rev. 15.8bln (exp. 17.7bln). (Newswires)
Shaanxi Coal Industry Co. Ltd. (601225 CN) - Co. March coal production 16.0mln tons (prev. 15.3mln Y/Y), sales volume rose 7.2% Y/Y. (Newswires)
Zhejiang China Commodities City Group Co. Ltd. (600415 CN) - Co. FY (CNY) net 4.20bln (exp. 4.55bln), rev. 19.9bln (exp. 20.4bln). (Newswires)
Other News
US FCC will reportedly vote on a measure that would ban all Chinese labs from testing US electronics. (Newswires)
The earnings updates reflect a mixed bag of performance among Chinese stocks, with Aluminium Corporation of China reporting significant net growth, while major players in the automotive and real estate sectors, like Anhui Jianghuai Automobile and Gemdale, are facing substantial declines in production and sales. This divergence highlights ongoing challenges in certain sectors, particularly in real estate and vehicle sales, which could indicate varying underlying economic conditions and potential implications for investor sentiment in the Chinese market.