On Friday, China's three major stock indices opened with mixed performance. The Shanghai Composite Index started 0.3% lower, while the Shenzhen Component Index opened 0.07% higher and the ChiNext Index began the session up 0.47%.

In the Hong Kong market, the Hang Seng Index opened 0.69% lower, and the Hang Seng Tech Index declined 0.72% at the open. MANYCORE TECH saw its share price surge 171.65% on its first day of trading in Hong Kong.

Kweichow Moutai opened 4.3% lower. The company reported its first annual revenue decline since listing, with 2025 revenue reaching 168.88 billion yuan, down 1.21% year-on-year. Net profit attributable to shareholders fell 4.53% to 82.32 billion yuan. Despite this, the company announced a record annual dividend of 65 billion yuan and initiated two rounds of share repurchases.

Zhongji Innolight Co.,Ltd. opened 3.9% higher at 841.00 yuan, setting a new record high. The company reported first-quarter 2026 revenue of 19.496 billion yuan, a substantial increase of 192% year-on-year. Net profit attributable to shareholders surged 262% to 5.735 billion yuan, with single-quarter profit already exceeding the full-year 2024 figure.

Updates to follow.