PRE-MARKET CHINESE STOCK NEWS: Minimax announces share placement, Nexchip to debut in HK, Chery initiated with buy rating
Chinese tech leads with strong Q2 earnings and significant HK listings, while the government balances AI growth with tighter vetting and aggressive renewable energy integration in its climate plan.
News detail
ChinaFoxconn Industrial (601138 CN) - Co. expects Q2'26 Net Profit at 12.8-13.8bln, +86-101% Y/Y. (Foxconn Industrial)GigaDevice Semiconductor (603986 CN) - Co. sees H1 net income at CNY 6.9bln, helped by an increase in prices and sales of memory chips. (GigaDevice Semiconductor)Minimax (0100 HK) - Co. announces placement of 35.6mln new Class A shares, priced at HKD 268/shr. (Minimax)Nexchip Semiconductor (688249 CN) - Co. is to begin trading in Hong Kong after raising HKD 6.99bln in a share sale.Chery Auto (9973 HK) initiated with Buy at CitiChina Jushi (600176 CN) initiated with Outperform at MacquarieEve Energy (300014 CN) initiated with Neutral at Goldman SachsGotion High-Tech (002074 CN) initiated with Sell at Goldman SachsOther News China is reportedly mulling tightening the process of vetting AI modes, WSJ reports citing sources; there are concerns that sharing some tech could help others to act against China China plans to deeply integrate its renewable power fleet into factories, data centres and transport in its new 5-year climate plan. Within the plan, China is aiming for pure EVs and plug-in hybrids to account for 30% of all vehicles.
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