CHINA RES POWER (00836.HK) announced the latest update on the proposed spin-off and A-share listing of China Resources New Energy Holdings. A total of 2.107 billion new shares of the SpinCo (before the exercise of the overallotment option, representing 16.2% of the enlarged issued share capital) or 2.423 billion new shares of the SpinCo (after the full exercise of the over-allotment option, representing 18.19% of the enlarged issued share capital) will be offered for subscription by investors under the Proposed Spin-off and the A Share Listing.

The total proceeds raised are expected to be mainly applied to (1) renewable energy base projects; (2) multi-energy complementarity and integration projects; (3) green ecological development comprehensive utilization projects; (4) integrated development-oriented renewable energy projects.

China Resources New Energy is primarily engaged in the investment, development, operation and management of wind and photovoltaic power stations in the PRC, with electricity as its principal product. Its business covers 31 provinces in the PRC. As of 31 December 2025, the wind power stations of the SpinCo had an on-grid installed capacity of 27,630.7 MW; and the photovoltaic power stations of the SpinCo had an on-grid installed capacity of 13,959.2 MW.

Upon completion of the Proposed Spin-off and the A Share Listing, the Company’s control over the SpinCo will decrease from 100% to 83.80% (before the exercise of the overallotment option) or 81.81% (after the full exercise of the over-allotment option).
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NIO-SW (09866.HK) announced that as of today (11th), the company has built 8,962 charging and battery swap stations nationwide, including 3,905 battery swap stations and 5,057 charging stations, with 29,099 charging piles, cumulatively providing more than 110 million battery swap services.

In addition, two NIO Power 2 stations have commenced operation, including a NIO battery swap station on Jianshe Road in Pingdingshan and a NIO supercharging station at the Guangfa Bank Building in Wuhan.
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There was HKD4.1 billion, HKD2 billion and HKD1.1 billion Southbound Trading net inflow to TRACKER FUND (02800.HK), TENCENT (00700.HK) and YOFC (06869.HK).

There was HKD2.4 billion, HKD195.1 million and HKD96.3 million Southbound Trading net outflow from BABA-W (09988.HK), CNOOC (00883.HK) and SMIC (00981.HK).

For Southbound Trading of Shanghai-Hong Kong Stock Connect, TRACKER FUND (02800.HK) was the most active stock with highest net inflow of HKD2.4 billion, while BABA-W (09988.HK) was the most active stock with highest net outflow of HKD1.7 billion.

For Southbound Trading of Shenzhen-Hong Kong Stock Connect, TRACKER FUND (02800.HK) was the most active stock with highest net inflow of HKD1.6 billion, while BABA-W (09988.HK) was the most active stock with highest net outflow of HKD662.6 million.

At close, Southbound Trading net outflow totaled HKD0 , representing 39.02% of the total transaction amount of HKD125.07 billion.
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HUAYAN ROBOTICS (01021.HK) announced that it will invest RMB85.1066 million to acquire the Property situated at Floors 7-13 of Building 1 of the Pengxia Robotics Intelligent Manufacturing Park, No. 09, Keyun 7th Road, Huicheng, Xinhui District, Jiangmen City, Guangdong Province, from Pengxia Robotics to build a new production base.

The Property has a gross floor area of 24,316.18 square meters and a land use right area of 62,960 square meters. The land on which the Property is situated is zoned for industrial use.
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Spot USD/CNY sank 72 bps to close at 6.7774 today (10th). As of 5:02pm, USD/CNY in the night session dropped 53 bps. USD/CNH lost 23 bps to 6.7800, 26 bps below USD/CNY.
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HONOR announced that its AI agent and voice assistant "YOYO" now supports sending WeChat messages, making WeChat voice calls and video calls, and has completed rollout across all device models.

The collaboration is purportedly based on the A2A (Agent to Agent) solution. The initial batch of features enables YOYO to use voice commands to send messages to designated contacts via WeChat, as well as to initiate voice and video calls, providing users with a more convenient real-time communication experience.
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Ant International is considering raising about USD1 billion to expedite its growth, having started sounding out interest from prospective investors, including existing shareholders General Atlantic and Silver Lake, Bloomberg reported, citing people with the knowledge of the matter. The funding round could value Ant International at USD10 billion or more.

The latest financing may help Ant prepare for a Hong Kong listing as early as this year, sources said. Ant International’s revenue totaled USD3 billion in 2024, and then grew about 25% in 2025.

The company said in April that its services cover more than 220 markets and support over 300 payment methods.
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Tencent Cloud and ASUSTeK Computer officially forged a strategic cooperation agreement. Leveraging Tencent Cloud's self-developed Agent Bucket intelligent storage capabilities, both parties will co-develop a "Personal Cloud Drive" targeting millions of laptop users.

This marks the first large-scale commercial deployment of Tencent Cloud Storage's enterprise-grade, scenario-based cloud storage capabilities on a leading PC brand. It also signifies that cloud storage is evolving from an optional add-on for PCs into one of the core infrastructures embracing the AI PC trend.
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Qwen has launched its first full-cycle college entrance examination application Agent, providing free application and advisory services to Mainland candidates.

Built on the Qwen college entrance examination application large model and eight years of Gaokao data experience from Quark, the Gaokao Agent features three core capabilities: "Application Report", "Application Calendar", and "Application Q&A".

It effectively equips each candidate with a dedicated AI expert for college entrance examination applications.
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China is deeply concerned about the current situation in Iran, Lin Jian, spokesperson for the Ministry of Foreign Affairs of China, stated.

Relevant parties should remain calm and exercise restraint, stop escalating tensions and worsening the situation, adopt concrete measures to ease and cool down the tensions, adhere to resolving disputes through political and diplomatic channels, and achieve a comprehensive and lasting ceasefire as soon as possible, Lin said.
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Vehicle Sales YoY for May in China is -2.1%, higher than the previous value of -2.5%.~



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ByteDance has initiated the spin-off and independent financing process for its AI-driven pharmaceutical business unit, Chinese media reported, citing sources.

After the spin-off, ByteDance will remain the controlling shareholder of the new company, which will be led and managed by ByteDance's business unit, AI-driven pharmaceutical team.

The core AI-driven pharmaceutical team, core algorithms, technology platforms and existing pipeline assets will be injected into the new entity in full. Meanwhile, the business will continue to receive computing power support from Volcengine.
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Alibaba Cloud announced a price reduction for its container computing service ACS Agent Sandbox (default compute quality). The price cut for this compute offering will take effect from 12:00 next Monday (15th).

This round of price adjustment only involves ACS Agent Sandbox (default compute quality). Prices for other compute options, including ACS General-purpose (default and best-effort compute quality) and ACS Performance (default and best-effort compute quality), will remain unchanged.
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Secretary for Environment and Ecology Tse Chin-wan today (10th) issued a written reply to a lawmaker’s question, stating that at present, if anyone purchases household electrical products through a cross-boundary e-commerce platform, or imports them in person for personal use, these conducts are not regarded as a supply in Hong Kong.

If a cross-boundary e-commerce platform only provides product price comparison or buyer-seller matching services, and the transportation is handled by a third-party logistics provider, the platform and logistics company is also not considered as a supplier or seller. Therefore, the aforementioned products do not fall within the regulatory scope of the relevant legislations, viz. the Electrical Products (Safety) Regulation, the Energy Efficiency (Labelling of Products) Ordinance, and the Product Eco-responsibility Ordinance.

In the first four months of 2026 a total of 22 incidents involving household electrical products were recorded after preliminary investigation. None of them was found to involve household electrical products supplied via cross-boundary e-commerce platforms.

The EMSD has proactively established regular communication mechanism with Chinese Mainland e-commerce platforms and reminded them that household electrical products supplied in Hong Kong must comply with local legislative requirements regarding electrical safety standards, and affix energy efficiency labelling.

The EPD has already contacted relevant cross-boundary e-commerce platforms, if their business models involve the distribution or sale of REE in Hong Kong, they are required to register with the EPD as registered suppliers and/or sellers, submit quarterly returns to the EPD for the assessment and payment of recycling levies in accordance with the law.

As for cross-boundary e-commerce platforms that provide matching services for merchants and buyers only and without engaging in the distribution or sale of REE, the EPD has urged them to avoid unregistered merchants to distribute REE in Hong Kong through their platforms. The EPD will continue to monitor the modus operandi of cross-boundary e-commerce platforms in Hong Kong, to ensure that their business activities in Hong Kong comply with the relevant legislative requirements.
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The HarmonyOS version of WeChat has begun recruiting users for beta testing. TENCENT (00700.HK) Public Relations Director Zhang Jun said the number of previously recruited users had reached the maximum limit for testing users of a single application set by the HarmonyOS app store, preventing many users from directly providing feedback and suggestions.

Zhang added that the company had communicated the relevant requests to Huawei, and the beta user cap has recently been raised, welcoming more users to join the testing program.
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He Xiaopeng, Chairman and CEO of XPENG-W (09868.HK), issued an internal letter today (10th), announcing that in addition to serving as Group CEO, he will personally take on the role of CEO of the robotics business, with immediate effect, Chinese media reported.

He stated that the Group is standing at a historic inflection point, with XPENG’s robotics arm entering the eve of mass production and commercialization.

He added that XPENG’s humanoid robots are now at a particularly critical stage, comparable to the period eight years ago when XPENG was about to launch its first vehicle, the G3, and was on the threshold of mass production and delivery.

XPENG’s robots differ noticeably from those of other manufacturers in terms of technology, product positioning and commercialization roadmap. The company’s vision is to bring robots into households, aiming to develop elegant, aesthetically pleasing and safe humanoid robots capable of close human interaction.

According to He Xiaopeng’s plan, XPENG will achieve mass production of humanoid robots in 4Q26; introduce humanoid robots into offline stores for sales assistance in 1Q27; expand humanoid robots to overseas markets in 2Q27; and by 2028, robots will begin entering more households.
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HSBC facilitated TENCENT (00700.HK) in pricing USD2.45 billion and CNY15 billion notes under its Global Medium Term Note Programme, acting as Joint Global Coordinator and Note Manager.

Eugene Ng, Managing Director of Debt Capital Markets for Greater China at HSBC, said the bank is pleased to support TENCENT in issuing a new batch of USD and CNY notes. The transaction reflects high-quality issuers’ confidence in the depth and liquidity of Hong Kong’s capital markets, while providing investors with long-tenor offshore CNY bonds, which remain relatively limited in supply in the offshore market. The issuer’s adoption of a dual-currency format demonstrates its increasing sophistication in fundraising and proactive efforts to build diversified financing channels.
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In the first four months of this year, BYD COMPANY (01211.HK) recorded cumulative wholesale volume of 17,098 battery electric vehicles (BEVs) in Indonesia, successfully ranking first in local EV sales, data from the Association of Indonesia Automotive Industries showed.

JAECOO followed with sales of 11,284 units. Hyundai, WULING MOTORS (00305.HK) and GEELY AUTO (00175.HK) ranked third to fifth, respectively.

At the product level, BYD COMPANY has established a diversified model lineup in the Indonesian market. Six models - Seagull, Yuan PLUS, Dolphin, BYD M6, Seal and Sealion 7 - jointly cover a full range of mobility needs, from entry-level commuting to high-end travel scenarios.
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The Chinese government plans to invest approximately RMB2 trillion (about USD295 billion) over the next five years to build a nationwide data center network, Citi said in a research report, citing Bloomberg. The plan, led by the National Development and Reform Commission, will be primarily operated by large SOE telecom operators and mandates that reliance on local AI accelerators must reach at least 80%.

The broker believed this will serve as a major catalyst for China’s digital infrastructure. Among beneficiaries, GDS-SW (09698.HK) and VNET Group, Inc. (VNET.US) are capturing momentum with record wholesale bookings in 1Q26, while SOE telecom operators are set to solidify their positions as foundational operators in China’s AI economy.

Under the strategic directive requiring at least 80% reliance on local suppliers for key technologies, such as AI chips from Huawei, domestic semiconductor growth will accelerate rapidly. Citi viewed IEIT (000977.SZ), LENOVO GROUP (00992.HK), and ZTE (00763.HK) as key beneficiaries within the localized AI server ecosystem. The mandatory use of domestic chips will drive demand for AI servers in their supply-constrained server businesses.

In addition, the initiative will create a substantial addressable market for CHINASOFT INT'L (00354.HK) in domestic computing power and token-based AI services, as the company is an ITS and ISV partner of Huawei.
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