PRE-MARKET CHINESE STOCKS NEWS: Mainland China closed, Hong Kong open

CHINA (Mainland on Holiday)

Alibaba Group (9988 HK) - Co. remained in focus after institutional ownership alerts showed Capital World Investors increased its stake, while Co. is scheduled to report Q4 and FY 2026 results on 13 May. (Newswires)
Baidu (9888 HK) - Co. shares jumped 9.4% earlier in the week after its AI chip unit Kunlunxin filed a listing application with the Hong Kong exchange. (SCMP)
Biren Tech (6082 HK) - Co. remained in focus after its debut as Hong Kong’s first China-made GPU stock, trading roughly 90% above its listing price. (Nikkei Asia)
BYD Company (1211 HK) - Co. overseas sales rose 35% last month to 130k vehicles, while Q1 profit posted its steepest drop since 2020 due to intense budget-segment competition; Co. also raised the price of its in-house driving-assistant add-on due to higher global memory hardware costs. (Bloomberg)
Evergrande Property Services (6666 HK) - Co. shares rose 5.6% during Friday’s session. (Newswires)
HKEX (388 HK) - Co. remained in focus after its annual general meeting, new board appointments and plans to introduce weekly expiries for 17 stock option classes. (HKEX)
Meituan (3690 HK) - Co. remained in focus after reports it is testing a new trillion-parameter AI large model trained on domestic GPU clusters. (36Kr)
PetroChina (857 HK) - Co. shares rose 0.4% on Friday. (Newswires)
SMIC (981 HK) - Co. shares rose 7.8% on Friday, leading the tech sector recovery amid positive domestic semiconductor sentiment. (Newswires)
Sunac China Holdings (1918 HK) - Co. shares rose 3.6% on Friday as property-sector sentiment improved. (Newswires)
Tencent Holdings (700 HK) - Co. signed a strategic partnership with Towngas to support energy and technology digital transformation through AI, cloud resources and smart energy ecosystems; Co. also announced a HKD 5.30/shr cash dividend with a 15 May ex-date. (Joint Press Release)
China Market Strategy - Five Chinese firms including Guangdong Huayan Robotics and Shandong Extreme Vision Technology sought to raise a combined USD 680mln in Hong Kong listings, while the Hong Kong IPO market raised roughly USD 11.64bln in Q1 2026. (Deloitte China)
Hong Kong Market Strategy - Goldman Sachs expects Hong Kong Q1 GDP growth to accelerate to 3.5%, supported by a recovery in inbound tourism. (Newswires)
Hong Kong Market Strategy - Analysts noted rotation from high-growth tech into energy and materials as rising oil prices and geopolitical tensions weighed on the Hang Seng Index. (Newswires)
Hong Kong Market Strategy - Mainland investors sold a record HKD 27.7bln of Hong Kong stocks via the trading link before the Labour Day break amid geopolitical concerns. (Reuters)
MSCI China - Goldman Sachs sees 20% upside for the index by year-end 2026. (Newswires)
Tencent Music Entertainment (TME US) - Simply Wall St. said Co. is undervalued by 38.5% based on discounted cash flow models. (Simply Wall St.)