PRE-MARKET CHINESE STOCKS NEWS: Earnings from Alibaba, Chian Telecom, CITIC Securities, Li Ning, Ping An Insurance & Pop Mart

Alibaba Group (BABA/9988 HK) - Co. Q1 2026 (USD) EPS 1.26 (exp. 1.94), rev. 40.0bln (exp. 38.6bln); CNY rev. rose 8.6% Y/Y to 268.95bln, while AI-related product revenue recorded triple-digit growth for the twelfth consecutive quarter. (Newswires)

BOC Aviation (2588 HK) - Co. H1 (USD) net rose 4.4% Y/Y to 357mln, rev. rose 4.8% Y/Y to 1.30bln, interim dividend USD 0.1799/shr (prev. USD 0.1476/shr). (Newswires)

China Power International Development (2380 HK) - Co. H1 (CNY) net 1.27bln, rev. fell 5.9% Y/Y to 22.5bln. (Newswires)

China Telecom (728 HK) - Co. H1 (CNY) net 19.6bln (exp. 17.1bln), rev. fell 3.7% Y/Y to 259bln, mobile subscribers rose 2.1% Y/Y to 442mln and broadband subscribers rose 1.0% Y/Y to 201mln. (Newswires)

ChinaSoft International (354 HK) - Co. H1 (CNY) net rose 10.9% Y/Y to 350.4mln, rev. rose 4.7% Y/Y to 8.9bln. (Newswires)

CITIC Securities (6030 HK) - Co. H1 (CNY) adj. net rose 68.8% Y/Y to 23.3bln, rev. rose 50.2% Y/Y to 49.7bln. (Newswires)

CK Hutchison Holdings (1 HK) - Panama Canal authorities are to limit capacity and transit slots in September due to El Niño, according to US financial press. (Newswires)

Cloud Music (9899 HK) - Co. H1 (CNY) adj. net fell 55.9% Y/Y to 860mln, rev. rose 3.4% Y/Y to 3.96bln. (Newswires)

CStone Pharmaceuticals (2616 HK) - Co. received NMPA investigational new drug approval for CS5007 in China. (Newswires)

Henderson Land Development (12 HK) - Co. H1 (HKD) underlying net rose 66.2% Y/Y to 5.07bln, rev. rose 80.1% Y/Y to 17.2bln and plans to launch eight Hong Kong development projects for sale in H2. (Newswires)

Jiangsu Expressway (177 HK) - Co. approved the acquisition of Suxichang South Expressway for CNY 7.3bln. (Newswires)

Li Ning (2331 HK) - Co. H1 (CNY) net rose 4.6% Y/Y to 1.82bln, rev. rose 2.7% Y/Y to 15.2bln. (Newswires)

Mongolian Mining Corporation (975 HK) - Co. H1 (USD) net 89.0mln (prev. loss 23.3mln Y/Y), adj. EBITDA rose 79.8% Y/Y to 169.2mln, rev. rose 69.1% Y/Y to 586.2mln. (Newswires)

Ping An Insurance (2318 HK) - Co. H1 (CNY) net rose 36% Y/Y to 92.6bln, operating profit attributable to shareholders rose 8.4% Y/Y to 84.2bln and rev. rose 12.6% Y/Y to 615.4bln. (Newswires)

Pop Mart International (9992 HK) - Co. H1 (CNY) net 5.04bln (exp. 6.64bln), rev. 17.2bln (exp. 20.0bln), gross margin 69.7% (exp. 70.0%). (Newswires)

China’s MOFCOM urged the US to withdraw Section 232-related tariffs. (Newswires)

China and Switzerland agreed a free-trade agreement removing tariffs. (Newswires)

China is restricting or delaying exports to Taiwan of key materials used in optics and semiconductor manufacturing, with germanium- and quartz-based materials and some magnets affected, according to sources. (Newswires)

Shanghai Futures Exchange said it is to expand the range of commodity futures and options available to qualified foreign investors from September 10. (Newswires)**

A full Chinese earnings slate of this breadth has historically served as a proxy read on domestic demand and policy transmission, with the aggregate tone of the prints tending to set the Hang Seng's session bias more than any single name. The Alibaba print fits a familiar pattern in the platform complex: a bottom-line miss alongside a revenue beat and continued triple-digit AI-related growth is the recurring profile of heavy capex cycles, and the market's split response in past episodes has hinged on whether cloud and AI monetisation is judged to be outpacing the investment drag. CITIC Securities' profit surge is consistent with prior bursts of elevated onshore turnover and issuance, broker earnings having long functioned as a leveraged read on equity market activity rather than franchise change. Insurer strength of Ping An's kind has typically been a function of investment-portfolio performance against a benign equity tape, while the consumer names, Li Ning's modest growth and Pop Mart's miss against high expectations, illustrate the recurring divergence between recovery beneficiaries and crowded growth trades where positioning amplifies the reaction to even small shortfalls. Worth noting alongside the prints are the state telecom's profit beat on falling revenue, a cost-discipline pattern seen repeatedly in that sector, and the materials export restrictions reported against Taiwan, which sit in the same lineage as prior episodes where germanium and adjacent inputs were used as leverage, with the tell being whether licensing frictions broaden into the semiconductor supply chain.