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<A Shrs>3 Key A-shr Indices Open Lower by 0.8-1.3%; Oils Hike against Mkt; BYD Continues to Open Lower
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The three major A-share indices started lower. The Shanghai Composite Index opened at 3,884, down 29 points or 0.8%. The Shenzhen Component Index opened at 13,618, down 141 points or 1%. The ChiNext Index opened at 3,254, down 41 points or 1.3%.

Among the Chinese banks, ICBC (601398.SH) reported a full-year net profit hike of 0.7% to RMB368.562 billion, with a final DPS of RMB16.89 cents, and its stock opened 0.4% lower. CCB (601939.SH) logged a full-year net profit of RMB338.9 billion, up 1%, with a final DPS of RMB20.29 cents, and its stock opened 1% lower.

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BYD (002594.SZ) charted a full-year net profit of RMB32.619 billion, a YoY decline of 19%, with a final DPS of RMB35.8 cents, with plan to use no more than RMB60 billion of its own idle funds for entrusted wealth management. Its stock opened 1.7% lower.

As international oil prices advanced, PetroChina (601857.SH) opened 2.3% higher. Its net profit last year dropped by 4.5% YoY, and it proposed a cash DPS of RMB0.25. Capex for the oil, gas, and new energy segments was expected to be RMB220.8 billion in 2026. CNOOC (600938.SH) and Sinopec (600028.SH) opened 2.2% and 0.5% higher, respectively.
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