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.)