PRE-MARKET CHINESE STOCKS NEWS: Tech in focus amid concerns regarding access to NVIDIA chips in the fallout from Huang's extramarital affairs scandal
ORIGINAL · NewsquawkPRE-MARKET CHINESE STOCKS NEWS: Tech in focus amid concerns regarding access to NVIDIA chips in the fallout from Huang's extramarital affairs scandalRead originalHide original
China Resources Land (1109 HK) - Co. October (CNY) gross contracted revenue rose 3.3% Y/Y to 15.7bln. (Newswires) JD.com (9618 HK) - Co. completed the acquisition of a 59.8% stake in CECONOMY for EUR 1.3bln, taking its combined holding with partner Convergenta to 85.2%, with CECONOMY becoming a subsidiary. (Newswires) New World Development (17 HK) - Co. shares halted from trading. (Newswires) Pou Sheng International (3813 HK) - Co. 9M (CNY) net rose 39.2% Y/Y to 238mln, rev. fell 3.9% Y/Y to 12.4bln. (Newswires) Samsonite (1910 HK) - Co. Q3 (USD) adjusted net profit 65.3mln (exp. 61.0mln), adjusted EBITDA fell 7.0% Y/Y to 132.6mln, rev. 872.7mln (exp. 866.8mln); announced an additional share buyback of up to USD 50mln and guided Q4 constant currency sales growth of high single digits, including BÉIS, with sequential profitability improvement expected. (Newswires) SMIC (981 HK) - Co. Q3 (USD) net 428.4mln (exp. 423mln), rev. rose 30.3% Y/Y to 3.91bln, gross margin 29.9% (prev. 25.3% Y/Y), capex 1.09bln; guides Q4 revenue growth of 4-6% Q/Q and gross margin of 26-28%, while its Co-CEO expects FY26 revenue to exceed USD 12bln, representing growth of over 30% Y/Y, with gross margin around 26%. (Newswires) VTech Holdings (303 HK) - Co. H1 (USD) net fell 12.9% Y/Y to 65.1mln, operating profit fell 11.2% Y/Y to 82.5mln, rev. rose 6.0% Y/Y to 1.05bln; remains on track to achieve revenue growth for FY27. (Newswires) Yue Yuen Industrial (551 HK) - Co. 9M (USD) net 134mln (guidance 125-139mln), rev. fell 2.2% Y/Y to 5.89bln. (Newswires) Other News ByteDance is reportedly planning to repurchase up to USD 6bln worth of shares from existing investors at a valuation of approximately USD 400bln. (The Information)
The pre-market roundup covers Chinese company results and deals; earlier reports said AI firms were seeking overseas Nvidia capacity amid concern Washington could restrict remote chip access.
News detail
China Resources Land (1109 HK) - Co. October (CNY) gross contracted revenue rose 3.3% Y/Y to 15.7bln. (Newswires) JD.com (9618 HK) - Co. completed the acquisition of a 59.8% stake in CECONOMY for EUR 1.3bln, taking its combined holding with partner Convergenta to 85.2%, with CECONOMY becoming a subsidiary. (Newswires) New World Development (17 HK) - Co. shares halted from trading. (Newswires) Pou Sheng International (3813 HK) - Co. 9M (CNY) net rose 39.2% Y/Y to 238mln, rev. fell 3.9% Y/Y to 12.4bln. (Newswires) Samsonite (1910 HK) - Co. Q3 (USD) adjusted net profit 65.3mln (exp. 61.0mln), adjusted EBITDA fell 7.0% Y/Y to 132.6mln, rev. 872.7mln (exp. 866.8mln); announced an additional share buyback of up to USD 50mln and guided Q4 constant currency sales growth of high single digits, including BÉIS, with sequential profitability improvement expected. (Newswires) SMIC (981 HK) - Co. Q3 (USD) net 428.4mln (exp. 423mln), rev. rose 30.3% Y/Y to 3.91bln, gross margin 29.9% (prev. 25.3% Y/Y), capex 1.09bln; guides Q4 revenue growth of 4-6% Q/Q and gross margin of 26-28%, while its Co-CEO expects FY26 revenue to exceed USD 12bln, representing growth of over 30% Y/Y, with gross margin around 26%. (Newswires) VTech Holdings (303 HK) - Co. H1 (USD) net fell 12.9% Y/Y to 65.1mln, operating profit fell 11.2% Y/Y to 82.5mln, rev. rose 6.0% Y/Y to 1.05bln; remains on track to achieve revenue growth for FY27. (Newswires) Yue Yuen Industrial (551 HK) - Co. 9M (USD) net 134mln (guidance 125-139mln), rev. fell 2.2% Y/Y to 5.89bln. (Newswires) Other News ByteDance is reportedly planning to repurchase up to USD 6bln worth of shares from existing investors at a valuation of approximately USD 400bln. (The Information)
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