PRE-MARKET CHINESE STOCK NEWS: WuXi AppTec (603259 CH) H1 (CNY) net 11.08bln (prev. 8.29bln Y/Y), rev. 28.90bln (prev. 19.53bln Y/Y), HSBC earnings are due today
Chinese markets show mixed results with WuXi AppTec outperforming, CXMT expanding chip production, and regulatory tightening on IP, while Seres Group and China Cinda face significant operational challenges.
News detail
China Cinda Asset Management (1359 HK) - Co. issued a profit warning and expects H1 net profit to fall 20%-25% Y/Y. (Newswires)CXMT (688825 CN) - Co. is reportedly considering a second memory-chip plant in Beijing. (Newswires)Seres Group (601127 CH) - Co. July vehicle production fell 40.7% Y/Y to 27,572 units and sales fell 44.4% Y/Y to 26,679 units, while January-July production fell 10.2% Y/Y to 223,642 units and sales fell 9.5% Y/Y to 223,259 units. (Dow Jones Newsplus)WuXi AppTec (603259 CH) - Co. H1 (CNY) net 11.08bln (prev. 8.29bln Y/Y), rev. 28.90bln (prev. 19.53bln Y/Y). (Newswires)PropertyChina’s property market is expected to recover further during H2, with policy support likely to focus less on short-term stimulus and more on urban renewal. (China Securities Times)TechMoonshot AI was reportedly targeting a Hong Kong IPO this month, although the Co. denied the report and said it was not accurate. (The Standard) Other NewsChina is growing anxious that Anthropic’s Mythos could be used against its economy. (Newswires)China released a revised integrated circuit layout protection law. (Newswires)
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