PRE-MARKET CHINESE STOCKS NEWS: ICBC (601398 CH) plans to raise CNY 100bln to bolster its capital, while Agricultural Bank of China (601288 CH) plans to raise CNY 160bln through a private placement of A shares

China Overseas Grand Oceans Group (81 HK) - Co. August contracted sales rose 10.1% Y/Y to CNY 2.35bln. (Newswires) China Overseas Land & Investment (688 HK) - Co. August contracted property revenue fell 12.8% Y/Y to CNY 16.0bln. (Newswires) CStone Pharmaceuticals (2616 HK) - Co. was added to the China/Hong Kong Southbound Stock Connect. (Newswires) Greentown China Holdings (3900 HK) - Co. August property sales were CNY 7.5bln (prev. CNY 10.6bln Y/Y). (Newswires) Guangzhou Automobile Group (2238 HK) - Co. August vehicle production was 127k (prev. 128k Y/Y), while sales were 127k (prev. 136k Y/Y). (Newswires) JD Logistics (2618 HK) - Co. named Henry Jun Mao as CFO, effective immediately. (Newswires) Powerlong Real Estate Holdings (1238 HK) - Co. proposes extending its restructuring longstop date to 30th November from 30th September. (Newswires) Standard Chartered (2888 HK) - Co. is “doubling down” on Greater China wealth opportunities, with plans to add more wealth centres, hire talent and invest in technology platforms across Hong Kong, mainland China and Taiwan despite tighter enforcement of cross-border investment taxes. (SCMP) Xiaomi (1810 HK) - Co. announced a partnership with CALB and Sunwoda. (Newswires) Yuexiu Property (123 HK) - Co. August contracted sales rose 1.7% Y/Y to CNY 5.60bln. (Newswires) Banks - ICBC (601398 CH) plans to raise CNY 100bln to bolster its capital, while Agricultural Bank of China (601288 CH) plans to raise CNY 160bln through a private placement of A shares. (Newswires) Insurers - China’s Finance Ministry will inject CNY 57bln into three state-owned insurers including China Life Insurance (601628 CH), China Taiping Insurance (966 HK) and People’s Insurance Company of China (601319 CH). (Newswires) Other News US President Trump said on Friday that he will host a state dinner for Chinese President Xi when he visits and that China has very little involvement with Iran. (Newswires) China reportedly views AI talks as a major deliverable for the upcoming US summit, with talks scheduled for mid-September and US Treasury Secretary Bessent leading the US delegation; the US is said to be concerned about the potential emergence of a future Chinese AI model at the level of Mythos. (Newswires)