PRE-MARKET CHINESE STOCKS NEWS: Mixed Chinese Official PMIs

China Power International Development (2380 HK) - Co. reported April electricity sold of 10.7TWh (prev. 10.2TWh Y/Y). (Newswires)

Clear Media (100 HK) - Co. proposed to issue A-shares. (Newswires)

CSPC Pharmaceutical Group (1093 HK) - Co. received a USD 1.2bln upfront payment from AstraZeneca. (Newswires)

PICC Group (1339 HK) - Co. noted Chairman Ding Xiangqun has resigned with immediate effect. (Newswires)

Power Construction Corp of China (601669 CH) - Co. reported April YTD new contract value fell 4.1% Y/Y to CNY 370.8bln. (Newswires)

SAIC Motor (600104 CH) - Co. is reportedly set to sell a further 10% stake in JSW MG Motor, making JSW the largest individual shareholder with a 45% stake; Co. will reinvest some proceeds in the unit. (Newswires)

XtalPi Holdings (2228 HK) - Co. said it recently made two breakthroughs in its in-house innovative peptide ingredients and incubated company novel drugs pipeline, including Tensotide. (Newswires)

Tech

ByteDance is reportedly developing new AI chips to run models. (The Information)

US moves to halt potential shipments of Nvidia and AMD's most sophisticated AI chips to China subsidiaries located outside of China. (Newswires)

Other News

China signalled it would focus its policy regarding online platforms in balancing support for growth with enhanced regulatory oversight, according to a draft article in a top-level Communist Party publication. (Newswires)

Five workers were killed following the collapse of a mine in China’s Yunnan province on Sunday. (Newswires)

Data Recap

• Chinese NBS Manufacturing PMI (May) 50.0 vs Exp. 50.2 (Prev. 50.3)
• Chinese NBS Non-Manufacturing PMI (May) 50.1 vs Exp. 49.5 (Prev. 49.4)
• Chinese Composite PMI (May) 50.5 (Prev. 50.1)