PRE-MARKET CHINESE STOCKS NEWS: Earnings from Baidu and Xiaomi

Ant Group - Co. is reportedly looking to sell a 3% stake in Paytm for around USD 300mln. Baidu (BIDU US) - Co. Q2 (CNY) net fell 68.33% Y/Y to 2.32bln, rev. fell 4.2% Y/Y to 31.33bln, EPS 1.06 (exp. 1.51). Bank of Nanjing (601009 CH) - Co. H1 (CNY) net 13.7bln (prev. 12.6bln Y/Y), rev. 31.6bln (prev. 28.5bln Y/Y). China Unicom (762 HK) - Co. H1 (CNY) net 9.5bln (prev. 14.5bln Y/Y), rev. 201.4bln (prev. 200.7bln Y/Y). China United Network Communications (600050 CH) - Co. H1 (CNY) net 4.14bln (prev. 6.35bln Y/Y), rev. 201.4bln (prev. 200.2bln Y/Y). GigaDevice Semiconductor (603986 CH) - Co. H1 (CNY) net 6.86bln (prev. 575.48mln Y/Y), rev. 11.57bln (prev. 4.15bln Y/Y), with results supported by higher memory-chip sales. (Dow Jones Newswires) Guotai Junan Securities (601211 CH) - Co. H1 (CNY) net 20.3bln (prelim. 20.0-20.5bln), rev. 47.2bln (prev. 23.9bln Y/Y). Hong Kong and China Gas (3 HK) - Co. H1 (HKD) net 3.64bln (prev. 2.96bln Y/Y), rev. 29.5bln (prev. 27.5bln Y/Y). Power Construction Corporation of China (601669 CH) - Co. July YTD new contract value fell 13% Y/Y to CNY 640.5bln. Rusal (486 HK) - Co. H1 (USD) adjusted net 196mln (prev. loss 194mln Y/Y), recurring net 615mln (prev. loss 16mln Y/Y), rev. 8.34bln (prev. 7.52bln Y/Y); aluminium production rose 4.5% Y/Y to 2.01mln tonnes and alumina production rose 7.6% Y/Y to 3.66mln tonnes. Xiaomi (1810 HK) - Co. Q2 (CNY) adjusted net 6.2bln (exp. 6.3bln), operating profit 10.9bln (exp. 5.85bln), rev. 108.9bln (exp. 108.3bln); Co. expects memory-chip price increases to moderate in H2, while memory costs remain historically high and consumer demand recovers slowly amid intensifying competition. (Newswires) ZTO Express (ZTO US) - Co. Q2 (CNY) net rose 56.7% Y/Y to 3.08bln, adjusted EBITDA rose 20.0% Y/Y to 4.24bln, rev. rose 23.0% Y/Y to 14.55bln, adjusted net rose 50.3% Y/Y to 3.09bln. (Dow Jones Newswires) Insurers China plans to support mainland insurers trading Hong Kong-listed ETFs through Stock Connect.