PRE-MARKET CHINESE STOCK NEWS: Earnings including BYD, CITIC Securities, CNOOC, New China Life & Sinopec

BAIC Motor (1958 HK) - Co. Q1 (CNY) net 1.5bln (prev. 1.6bln Y/Y), rev. 47.7bln (prev. 45.7bln Y/Y). (Newswires)

BYD Company (1211 HK) - Co. Q1 (CNY) net 4.1bln (prev. 0.8bln Y/Y), rev. 120.2bln (prev. 69bln Y/Y). (Newswires)

BYD Electronic International (285 HK) - Co. Q1 (CNY) net 459mln (prev. 180mln Y/Y), rev. 26.4bln (prev. 89.0bln Y/Y). (Newswires)

China Coal Energy (1898 HK) - Co. Q1 (CNY) net 7.2bln (prev. 6.8bln Y/Y), rev. 59.2bln (prev. 61.7bln Y/Y). (Newswires)

China Galaxy Securities (601881 CH) - Co. Q1 (CNY) net rose 44% Y/Y to 2.3bln, rev. rose 18% Y/Y to 8.7bln. (Newswires)

China Life Insurance Company (2628 HK) - Co. Q1 (CNY) net 17.9bln (prev. 15.2bln Y/Y), rev. 368bln (prev. 344bln Y/Y). (Newswires)

CITIC Securities (6030 HK) - Co. Q1 (CNY) net rose 3.6% Y/Y to 5.4bln, rev. 15.4bln (prev. 15.2bln Y/Y). (Newswires)

CNOOC (883 HK) - Co. Q1 (CNY) net 32.1bln (prev. 34.3bln Y/Y), rev. 74.2bln (exp. 90.9bln). (Newswires)

Evergrande (3333 HK) - Co. onshore unit bondholders approved payment extension with 77% of Class A debt holders backing a restructure. (Newswires)

Foxconn Industrial Internet (601138 CH) - Co. Q1 (CNY) net 3.1bln (exp. 3.7bln), rev. 105.9bln (exp. 115bln). (Newswires)

Ganfeng Lithium H-Shares (1772 HK) - Co. Q1 (CNY) net 2.4bln (prev. 3.5bln Y/Y), rev. 9.4bln (prev. 5.4bln Y/Y). (Newswires)

Haier Smart Home (600690 CH) - Co. Q1 (CNY) net 4.0bln (exp. 3.7bln), rev. 65.1bln (exp. 64.0bln). (Newswires)

Inner Mongolia Yili Industrial Group (600887 CH) - Co. FY22 (CNY) net 9.4bln (prev. 8.7bln Y/Y), rev. 123.2bln (prev. 110.2bln Y/Y).  (Newswires)

Metallurgical Corporation of China (1618 HK) - Co. Q1 (CNY) net 3.4bln (prev. 2.7bln Y/Y), rev. 144.5bln (prev. 118.0bln Y/Y), contracts signed rose 2.1% Y/Y to 325.8bln. (Newswires)

New China Life (1336 HK) - Co. Q1 (CNY) net rose 114.8% Y/Y to 6.9bln, GWP was flat Y/Y at 64.8bln. (Newswires)

PICC Group (1338 HK) - Co. Q1 (CNY) net 11.7bln (prev. 3.6bln Y/Y). (Newswires)

PICC Property & Casualty (2328 HK) - Co. Q1 (CNY) net 9.5bln (prev. 7.8bln Y/Y), rev. 115bln (exp. 105bln). (Newswires)

Postal Savings Bank of China (1658 HK) - Co. Q1 (CNY) net 26.3bln (prev. 25.0bln Y/Y), rev. 88.2bln (prev. 85.3bln Y/Y). (Newswires)

Sinopec (386 HK) - Co. Q1 (CNY) net 20.7bln (prev. 22.6bln Y/Y), rev. 791bln (exp. 828bln). (Newswires)

Sinopharm (1099 HK) - Co. Q1 (CNY) total comprehensive income attributable 1.6bln (prev. 1.4bln Y/Y), rev. 145.5bln (prev. 127.6bln Y/Y). (Newswires)

Zijin Mining (2899 HK) - Co. Q1 (CNY) net 5.4bln (prev. 6.1bln YY/Y), rev. 75.0bln (prev. 64.8bln). (Newswires)

Other News

China is to increase energy and agriculture imports, according to China's MOFCOM. (Newswires)

China's consumption is set to further increase during the upcoming May Day holidays as the tourism sector will roar back with 240mln trips estimated to create more than CNY 120bln in consumption. (Global Times)

White House National Security Adviser Sullivan said the US is working for de-risking and diversifying, not decoupling from China. Sullivan said the US is trying to limit China's ability to use US technology against the US but added the US is not cutting off trade and is not looking for confrontation with China, while it is working to cooperate where possible. (Newswires)

Chinese Commerce Minister Wang Wengtao met German Vice Chancellor Habeck in Berlin to discuss the implementation of economic and trade consensus between both countries, according to MOFCOM, while they discussed deepening bilateral practical cooperation, creating a fair and just business environment for Chinese and German companies, as well as green cooperation. (Newswires)

Germany is reportedly in talks to limit chip chemical exports to China, according to Bloomberg. (Newswires)

28 Apr 2023 - 02:11- EquitiesResearch Sheet- Source: Newswires