PRE-MARKET CHINESE STOCKS NEWS: SMIC (981 HK) prelim Q4 (USD) net rose 60.7% Y/Y to 172.8mln (exp. 170.3mln), rev. rose 12.8% Y/Y to 2.49bln

BAIC Motor (1958 HK) - Co. prelim. FY25 (CNY) net 110mln-130mln (exp. 569mln). (Newswires)

China State Construction Engineering (601668 CJ) - Co. January new contracts rose 1.8% Y/Y to CNY 400bln. (Newswires)

Contemporary Amperex Technology (3750 HK) - Co. plans to issue up to CNY 5bln in bonds. (Newswires)

PCCW (8 HK) - Co. FY25 (HKD) net loss 253mln (prev. loss 300mln Y/Y), rev. 40.3bln (exp. 38.9bln). (Newswires)

SMIC (981 HK) - Co. prelim Q4 (USD) net rose 60.7% Y/Y to 172.8mln (exp. 170.3mln), rev. rose 12.8% Y/Y to 2.49bln. (Tech In Asia)

WuXi Biologics (2269 HK) - Co. prelim. FY25 (CNY) adj. net 6.6bln (prev. 9.4bln Y/Y), rev. 21.8bln (exp. 21.5bln). (Newswires)

Tech - Alibaba (9988 HK) and ByteDance unveil AI image tools to rival Google’s Nano Banana, while it was also reported that ByteDance joined Alibaba and Tencent (700 HK) to offer freebies in a bid to acquire AI app users. (SCMP)

Other News

PBoC will continue implementing an appropriately loose monetary policy and will strengthen implementation and oversight of interest rate policy to keep overall financing costs low. PBoC vowed to expand the use of CNY in cross-border trade and support more tech firms to issue bonds for financing, while it added that China faces a strong supply and weak demand problem. (Newswires)

Chinese Foreign Minister Wang said that he sees India as a partner rather than a competitor, and that both countries are to enhance mutual trust and expand cooperation, while the Vice Foreign Minister recently held a strategic dialogue with an Indian diplomat. (Newswires)

US Commerce Secretary Lutnick said that China must adhere to NVIDIA's (NVDA) H200 license terms. (Newswires)