PRE-MARKET CHINESE STOCKS NEWS: Sinopec earnings, Alibaba USD 10bln raising via share sale, Shein offers shares in Hong Kong IPO
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Shipping data showed fewer than 20 commodity vessels transited the Strait of Hormuz over the weekend
PBoC injects CNY 340bln via 7-day reverse repos with the rate maintained at 1.40%
PRE-MARKET CHINESE STOCKS NEWS: Sinopec earnings, Alibaba USD 10bln raising via share sale, Shein offers shares in Hong Kong IPO
PBoC sets USD/CNY mid-point at 6.7841 vs exp. 6.7248 (prev. 6.7817)
PRE-MARKET TAIWAN AND SINGAPORE STOCKS NEWS: Neousys Technology (6922 TT) expects edge AI-related revenue to rise 10–20% Y/Y, Nasdaq-100 eked out mild gains on Friday following an initial choppy mood, while futures are contained during Asia-Pac trade
On the Newsquawk feed at , 20 minutes before this page.
Alibaba Group (9988 HK) - Co. is seeking to raise USD 10bln through a share sale to fund AI expansion, while Michael Burry said he sold his Alibaba shares to build a large position in JD.com (9618 HK) and suggested Alibaba was overvalued. (Newswires)
ByteDance - Co. and unit TikTok agreed to a USD 400mln settlement to resolve US Justice Department allegations that the short-video app violated children’s online privacy. (Newswires)
China Coal Energy (1898 HK) - Co. H1 (CNY) adjusted net 8.15bln (prev. 7.7bln Y/Y), rev. 73.1bln (prev. 74.5bln Y/Y). (Newswires)
China Hongqiao Group (1378 HK) - Co. H1 (CNY) net 17.2bln (prev. 12.4bln Y/Y), rev. 87.5bln (prev. 81bln Y/Y). (Newswires)
China Nonferrous Mining Corporation (1258 HK) - Co. H1 (USD) net 434mln (prev. 263mln Y/Y), rev. 2.30bln (prev. 1.80bln Y/Y). (Newswires)
China Petroleum & Chemical Corporation (386 HK) - Co. H1 (CNY) net rose 19.3% Y/Y to 25.63bln, rev. 1.44tln (prev. 1.41tln Y/Y), diluted EPS 0.22 (prev. 0.196 Y/Y), asset impairment provisions 16bln. (Newswires)
DeepSeek - Co. halted weekend peak pricing for API users. (Newswires)
New World China Corporation (917 HK) - Co. H1 (CNY) net 166mln (prev. 123mln Y/Y), rev. 827mln (prev. 676mln Y/Y). (Newswires)
Shein - Co. is offering shares in its Hong Kong IPO at HKD 47.60–49.50/shr, with 280mln Class B shares in total and 252mln Class B shares included in the global offering. (Newswires)
Sinopharm Group (1099 HK) - Co. H1 (CNY) net 3.40bln (prev. 3.47bln Y/Y), rev. 282.8bln (prev. 286.0bln Y/Y). (Newswires)
Tuhu Car (9690 HK) - Co. H1 (CNY) adjusted net 240mln (exp. 207mln), rev. 8.78bln (exp. 8.74bln). (Newswires)
Xiaomi (1810 HK) - Co. will recall approximately 390.5k SU7 vehicles, including 51.4k produced between 2023 and 2024 and 339.1k produced from 2024, according to the market regulator. (Newswires)
Yangtze Optical Fibre and Cable (6869 HK) - Co. final H1 (CNY) net 2.92bln (guided 2.4–3.0bln), rev. 9.81bln (prev. 6.38bln Y/Y). (Newswires)
Zijin Mining (2899 HK) - Co. H1 (CNY) net 39.2bln (prev. 23.3bln Y/Y), rev. 194bln (prev. 168bln Y/Y). (Newswires)
ZTE Corporation (763 HK) - Co. H1 (CNY) net 2.75bln (prev. 5.06bln Y/Y), rev. 78bln (prev. 71.6bln Y/Y). (Newswires)
Tech
China will support companies conducting research into high-end chip technology, accelerate legislation covering AI and blockchain, and strengthen internet companies by 2030. (Newswires)
Other News
China Premier Li Qiang said China will strengthen data security protections and increase communication network construction. (Newswires)
Context
This is a pre-market digest rather than a single event, and the read splits into three threads that behave differently. The earnings block is dominated by the resource complex: aluminium, copper, gold and coal names printing large year-on-year profit gains alongside an upstream-heavy oil major, a pattern consistent with periods when commodity prices and volume growth flatter miners and smelters while refiners carry impairment charges; the tell for durability is whether the gains are price-led or volume-led, since the former unwinds faster. The capital-raising thread is the more market-relevant item: a mega-cap tech name funding AI capex through equity rather than debt follows the established hyperscaler pattern, and large placements in Hong Kong have historically pressured the stock near-term on dilution while signalling management confidence in spend; a high-profile bearish investor rotation into a direct peer adds a relative-value framing the street will trade. The IPO pricing of a fast-fashion name in Hong Kong is the third thread, with the dual-class structure and the size of the global offering the standard points of scrutiny for aftermarket performance. The recall item for an EV maker is operationally material for that name but of the routine type regulators disclose. The policy commentary on chips, AI legislation and data security is directional and follows the familiar cadence of supportive rhetoric without funding detail, so it tends to matter only when followed by concrete subsidy or procurement measures.
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