Chinese Concept Stocks | Alibaba Stock Buyback Amidst Nasdaq China Dragon Index Decline

On April 3rd, Eastern Time (Thursday), the three major U.S. stock indices collectively plummeted. The S&P 500 Index fell by 4.84%, closing at 5396.52 points; the Dow Jones Index dropped by 3.98%, closing at 40545.93 points; and the Nasdaq Index decreased by 5.97%, closing at 16550.61 points.

On April 3rd, the Nasdaq China Golden Dragon Index fell by 1.90%.

Regarding popular Chinese concept stocks, XPeng Motors rose by 0.10%, TSMC fell by 7.63%, Pinduoduo fell by 4.54%, JD.com fell by 2.90%, Baidu fell by 2.32%, NetEase fell by 1.37%, NIO fell by 1.32%, Bilibili fell by 1.04%, and Alibaba fell by 0.30%.

Chinese concept stocks that have been rising include Zhongchi Chuangfu with a recent change of 1.93%, rising for 9 consecutive days with a cumulative increase of 41.95%. Yi Pin Wei Ke rose by 2.51% over 6 consecutive days with a total increase of 9.28%. Dada rose by 0.52% over 5 consecutive days with a cumulative increase of 3.78%. Microvast Holdings rose by 2.82% over 4 consecutive days with a cumulative increase of 58.26%. Eureka Acquisition increased by 0.10% over 4 consecutive days with a cumulative increase of 0.49%. You Pin Che rose by 0.17% over 4 consecutive days with a cumulative increase of 9.58%.

Chinese concept stocks that have been falling include Burning Rock Biotech, which fell by 7.49% over 10 consecutive days with a cumulative decrease of 31.42%. Pony.ai fell by 8.47% over 8 consecutive days with a total decrease of 47.62%. Lotus Technology fell by 17.09% over 8 consecutive days with a cumulative decrease of 40.18%. Futse Financial Technology Group fell by 8.00% over 8 consecutive days with a cumulative decrease of 34.65%. ECARX fell by 3.11% over 7 consecutive days with a cumulative decrease of 62.02%. MKDWELL Tech fell by 12.31% over 7 consecutive days with a cumulative decrease of 38.67%.

Chinese Concept Stock News
Alibaba-W repurchased 612,800 shares at a cost of approximately $9.992 million on April 2nd.
XPeng Motors has established a new sales service company. According to Qichacha APP, recently, Chengdu Yuepeng Automobile Sales Service Co., Ltd. was established with Han Jian as its legal representative. The registered capital is 5 million yuan, and its business scope includes the sale of new energy vehicles, new energy vehicle parts, motor vehicle charging sales, and battery spare parts sales. Qichacha's equity penetration shows that this company is wholly owned by Chengdu XPeng Automobile Sales Service Co., Ltd.
Ele.me has launched the "AI Entry Intelligent Manager": Making it easier for merchants to start new businesses through AI technology. According to the Ele.me merchant center public account, Ele.me recently launched the "AI Entry Intelligent Manager" for new merchants. This AI-developed intelligent assistant not only supports natural language conversational services but also provides a one-stop guide for merchants to complete entry processes, including identity verification, contract authorization, material upload, and intelligent pre-screening. "Compared to the previous static process where merchants had to understand the requirements themselves and fill out the application page, the AI Entry Intelligent Manager can provide guidance 24/7 and answer merchants' questions throughout the process. It can also perform intelligent pre-screening, eliminating the need for merchants to search for error reasons or wait for manual feedback," said an Ele.me product manager. "With this AI assistant, new merchants can complete the document submission and pre-screening process in as little as 5 minutes, significantly improving the success rate of single operations compared to the past, and making the experience noticeably simpler."
Following the "billion yuan reductions," Pinduoduo announces a new "trillion yuan support" plan. The Pinduoduo "Merchant Rights Protection Committee" announced that the platform will launch a major business support plan—the "Trillion Yuan Support," which aims to invest more than 100 billion yuan in funds, traffic, and other resources over the next three years to accelerate the construction of a high-quality e-commerce ecosystem, supporting the new quality transformation and upgrading of platform merchants, and striving to build a business ecosystem where users, merchants, and the platform can all win. This is a new merchant support strategy launched by Pinduoduo following the 2024 "billion yuan reductions," "e-commerce westward," and "new quality merchant support plan" measures, with unprecedented resource investment.
Alibaba Cloud: Some historical models of the BaiLian platform will be taken offline on July 2nd. According to Alibaba Cloud's official website notice on April 3rd, some historical models on the BaiLian model service platform will be taken offline on July 2, 2025. From the date of the announcement, Alibaba Cloud will gradually reduce the model's throttling until the model is officially taken offline, which includes throttling for the number of calls per minute (QPM) and the number of consumed tokens per minute (TPM). Models that have applied for expansion will revert to default throttling. After the model is taken offline, model inference will no longer be supported, and some models will stop model fine-tuning. Applications and services that are calling the model will not be able to return results. Alibaba Cloud reminds that there are no direct replacement models for these.