PRE-MARKET CHINESE STOCKS NEWS: US President Trump and Chinese President Xi are poised to extend the trade truce by up to a year during their expected April meeting in Beijing

Budweiser Brewing Company APAC (1876 HK) - Co. FY (USD) net fell 32.6% Y/Y to 489mln (exp. 602mln), rev. fell 7.7% Y/Y to 5.76bln. (Newswires/AA Stocks)

China Resources Power (836 HK) - Co. January power generation rose 28.4% Y/Y to 23.8TWh. (Newswires)

China Vanke (2202 HK) - Shenzhen government drafting USD 11.6bln rescue package for the Co. (Octus/Newswires)

NetEase (9999 HK) - Co. FY (CNY) net rose 13.7% Y/Y to 33.8bln, rev. rose 10% Y/Y to 112.6bln, Q4 net fell 28.8% Y/Y to 6.2bln, rev. rose 3% Y/Y to 27.55bln (exp. 28.71bln). (AA Stocks/Investing.com)

NetEase Music (9899 HK) - Co. FY (CNY) net rose 76% Y/Y to 2.7bln, rev. fell 2.4% Y/Y to 7.76bln. (AA Stocks)

Road King Infrastructure (1098 HK) - Co. FY25 (CNY) contracted sales 7.05bln (prev. 11.9bln Y/Y). (Newswires)

Unisplendour (000938 CH) - Co. abandoned year-long effort to raise funds in Hong Kong. (SCMP)

Wingtech Technology (600745 CH) - Dutch court ordered a probe into Co. unit Nexperia. (Newswires)

Zhipu (2513 HK) - Chinese AI startup Zhipu launched its new flagship model GLM-5. (Newswires)

Zijin Mining (2899 HK) - Co. is to begin production from Congo’s first lithium mine in June from the Manono-Kitolo project. (Newswires)

Other News

US President Trump and Chinese President Xi are poised to extend the trade truce by up to a year during their expected April meeting in Beijing, according to SCMP citing people familiar with discussions. (SCMP)

China's State Council held a session on boosting AI use, while Chinese Premier Li urged promoting the use of AI in various sectors. It was also reported that China is said to call on central state-owned enterprises to increase computing power investment. (Newswires)

China plans to extend import VAT breaks on cancer and rare disease drugs until the end of 2027. (Newswires)

US Democratic senators urged the Trump administration to use the North American free trade talks to crack down on Chinese vehicles. (Newswires)

US senators questioned the Commerce Department’s decision to remove key officials tasked with countering China's intelligence and cyber threats. (Newswires)

China is reportedly considering probing wine from France, while it could consider launching anti-dumping duties on French wine, and potentially take countermeasures against the EU if it adopts duties. (Newswires)