PRE-MARKET CHINESE STOCKS NEWS: Sinopec earnings, Alibaba USD 10bln raising via share sale, Shein offers shares in Hong Kong IPO

Alibaba Group (9988 HK) - Co. is seeking to raise USD 10bln through a share sale to fund AI expansion and prices 710mln shrea at HKD 112.70/shr vs last close HKD 123.00/shr, while 'Big Short's' 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)