PRE-MARKET CHINESE STOCKS NEWS: Innovent Biologics (1810 HK) announced strategic collaboration with Eli Lilly (LLY)

China Datang Renewable Power (1798 HK) - Co. January power generation rose 6.7% Y/Y to 3.27TWh. (Newswires)

Greenland Hong Kong (337 HK) - Co. January YTD contracted sales CNY 508mln (prev. 131mln Y/Y). (Newswires)

Innovent Biologics (1810 HK) - Co. announced strategic collaboration with Eli Lilly (LLY) to develop new medicines globally in oncology and immunology, while it will receive USD 350mln upfront payment and is eligible to receive around USD 8.5bln in milestone payments. (Newswires)

Kuaishou Technology (1024 HK) - China fined the Co. USD 17.2mln citing pornographic content. (Newswires)

Sun Hung Kai Properties (16 HK) - Co. sold all 218 units released at its Sierra Sea project on Saturday, marking what agents described as a “mini-boom” ahead of the Lunar New Year. (SCMP)

Zijin Mining (2899 HK) - Co. prelim. FY25 (CNY) 51bln-52bln, rev. at around 345bln. (Newswires)

Metals - PBoC increased its gold holdings for a 15th consecutive month in January, with China's gold holdings climbing to 74.19mln fine troy ounces (prev. 74.15mln M/M).

Other News

PBoC issued a notice on Friday regarding further preventing and handling of risks related to virtual currencies, while it said it will continue to crack down on crypto mining and related illegal financial activities. PBoC stated that without regulatory approval, domestic entities and their offshore units are prohibited from issuing virtual currencies overseas, while it stated that virtual currencies lack legal tender status and related activities are illegal financial activities. (Newswires)

China banned unapproved CNY-linked stablecoin issuance overseas and will require internet companies not to provide crypto services. (Newswires)

China's Cabinet meeting studied measures to promote effective investment and will boost support for private investment, while it aims to better utilise central budget investment, ultra-long special treasury bonds and local government special bonds, according to CCTV. (Newswires)

Chinese Premier Li said they are to boost market vitality and unlock new domestic demand through policy support and reforms, while he called for an early arrangement of fiscal funds, policy reserves and planning of major projects, according to CCTV. (Newswires)

China warned that a US arms deal for Taiwan could jeopardise US President Trump's state visit to China in April. (FT)