PRE-MARKET CHINESE STOCKS NEWS: Alibaba reported a rise in Q1 net and revenue; Chinese Manufacturing PMI missed forecasts

Alibaba (9988 HK) - Co. Q1 Adj. EPS USD 2.06 (exp. 2.13), net income attributable CNY 43.1bln (prev. 24.3bln Y/Y), rev. rose 2% Y/Y to 247.7bln, Co. noted new highs in monthly active customers and daily order volume, while it is to increase cloud adoption for AI. (Newswires)

Agricultural Bank of China (1288 HK) - Co. H1 (CNY) net 139.9bln (prev. 136.5bln Y/Y), NII 282.5bln (prev. 290.8bln Y/Y). (Newswires)

Bank of China (3988 HK) - Co. H1 (CNY) Net Income 117.59bln (prev. 118.6bln Y/Y), NII 214.81bln (prev. 226.8bln Y/Y). (Newswires)

Bank of Communications (3328 HK) - Co. H1 (CNY) Net Income rose 1.6% Y/Y to 46bln, NII rose 1.2% Y/Y to 85.3bln. (Newswires)

China Construction Bank (0939 HK) - Co. H1 (CNY) net fell 1.5% Y/Y to 162.1bln, NII fell 3.2% Y/Y to 286.7bln. (Newswires)

Industrial and Commercial Bank (1398 HK) - Co. H1 (CNY) Net Income attributable 168.1bln (prev. 170.5bln Y/Y), NII 313.6bln (prev. 314bln Y/Y)

China CSSC (600150 CH) - Co. H1 net rose 108.6% Y/Y. (Newswires)

China Shipbuilding Industry (601989 CH) - Co. H1 net rose 227% Y/Y. (Newswires)

Great Wall Motor (2333 HK) - Co. H1 (CNY) net 6.3bln (prev. 7.1bln Y/Y), rev. 92.3bln (prev. 91.4bln Y/Y). (Newswires)

Metallurgical Corporation of China (1618 HK) - Co. H1 (CNY) net fell25.3% Y/Y to 3.1bln, oper. rev. fell 20.4% Y/Y to 237.5bln. (Newswires)

Suning.com (002024 CH) - Co. H1 net rose 230% Y/Y. (Newswires)

TCL Technology (000100 CH) - Co. H1 net rose 89.3% Y/Y. (Newswires)

Weichai Power (000338 CH) - Co. H1 net profit fell 4.4% Y/Y. (Newswires)

Property

China’s home sales continued to slump in August despite declining prices and the nation’s two largest cities rolling out additional stimulus measures, according to Bloomberg citing preliminary data from China Real Estate Information Corp. (Newswires)

Trade

China’s Commerce Ministry said senior Chinese trade negotiator Li Chenggang visited the US and held meetings with US officials from August 27th to 29th, while Li stated that China and the US should manage differences and expand cooperation through equal dialogue and consultation. Furthermore, Li and US officials exchanged views on China-US economic and trade relations, as well as the implementation of the prior consensus. (Newswires)

US was reported on Friday to revoke authorisations for Intel (INTC), SK Hynix, (000660 KS) and Samsung (005930 KS) to receive American chipmaking equipment in China unless they obtain licenses, according to the Federal Register. (Newswires)

Other News

Chinese President Xi met with Indian PM Modi and stated that they must strengthen strategic communication and deepen mutual trust, while he noted that China and India are at a critical stage of development and revitalisation, and should focus on development. Furthermore, he said they should expand exchanges and cooperation to achieve mutual benefit and win-win results, as well as noted that joint efforts should be made to maintain peace and tranquillity in border areas, according to Chinese state media. (Newswires)

Chinese President Xi and Indian PM Modi underlined in their meeting the need to proceed from a political and strategic direction to expand the bilateral trade and investment ties and reduce the trade deficit, while PM Modi noted that their countries should both pursue strategic autonomy and their relations should not be seen through a third country’s lens. Furthermore, they deemed it necessary to expand common ground on bilateral, regional, and global issues and challenges, according to a statement from India. (Newswires)

Chinese President Xi said in a meeting with Turkish President Erdogan that they should counter-terrorism security cooperation, while he added that both sides should create new cooperation highlights like new energy, 5G, and biomedicine, according to Chinese state media. (Newswires)

Chinese President Xi told UN Secretary General Guterres that China upholds multilateralism and supports the UN playing a central role in international affairs, according to CCTV. (Newswires)

China and Armenia established a strategic partnership and China supports Armenia joining the SCO, while it was stated that China and Armenia should firmly support each other and deepen cooperation in various fields, according to CCTV. (Newswires)

Data Recap

• Chinese NBS Manufacturing PMI (Aug) 49.4 vs. Exp. 49.5 (Prev. 49.3)


• Chinese NBS Non-Manufacturing PMI (Aug) 50.3 vs Exp. 50.3 (Prev. 50.1)


• Chinese Composite PMI (Aug) 50.5 (Prev. 50.2)

01 Sep 2025 - 02:22- ForexData- Source: Newswires