Chinese Concept Stocks | Nasdaq Golden Dragon Index Drops 0.79% While Key Stocks Show Mixed Performance

On September 12 (Thursday), Eastern Time, the three major U.S. stock indexes collectively closed higher. The S&P 500 index rose 0.75% to 5595.76 points; the Dow Jones index rose 0.58% to 41096.77 points; and the Nasdaq index rose 1.00% to 17569.68 points.

On September 12, the Nasdaq Golden Dragon China Index fell 0.79%. Among popular Chinese concept stocks, Pinduoduo rose 2.15%, Alibaba rose 0.82%, TSMC rose 0.72%, JD.com rose 0.34%, Baidu rose 0.14%, NIO fell 5.71%, XPeng Motors fell 5.69%, Bilibili fell 1.41%, and NetEase fell 1.27%.

Among Chinese concept stocks with consecutive gains, Global Lights increased by 0.10% over 9 days with a cumulative gain of 0.29%; Zhongchi Chafu rose 4.79% over 7 days with a cumulative gain of 17.69%; YY Inc. increased by 1.34% over 6 days with a cumulative gain of 5.18%; Xuniao Software rose 1.69% over 5 days with a cumulative gain of 8.43%; Alibaba increased by 0.80% over 4 days with a cumulative gain of 5.31%; Baidu increased by 0.14% over 4 days with a cumulative gain of 3.78%; Smart Chain Group rose 0.13% over 4 days with a cumulative gain of 18.27%; 51Talk increased by 2.88% over 4 days with a cumulative gain of 9.84%; Sunlands Technology Group rose 6.03% over 4 days with a cumulative gain of 28.75%; BeyondSpring increased by 1.39% over 4 days with a cumulative gain of 11.17%; Tiancheng Golden Concord rose 22.82% over 4 days with a cumulative gain of 63.39%; Ning Sheng International increased by 2.13% over 4 days with a cumulative gain of 21.68%; Phoenix New Media rose 3.16% over 4 days with a cumulative gain of 16.67%; Global Mofy increased by 1.47% over 4 days with a cumulative gain of 5.41%; 9F Inc. rose 7.06% over 4 days with a cumulative gain of 7.06%; and Data Sea increased by 0.46% over 4 days with a cumulative gain of 17.93%.

Among Chinese concept stocks with consecutive losses, Waterdrop fell 0.95% over 6 days with a cumulative loss of 7.14%; MicroAlgo fell 7.66% over 6 days with a cumulative loss of 35.79%; KE Holdings fell 3.69% over 5 days with a cumulative loss of 8.42%; Huapu Group fell 8.82% over 5 days with a cumulative loss of 40.76%; Zhongbi Energy fell 3.70% over 5 days with a cumulative loss of 9.00%; and eJia Fast Service fell 0.88% over 5 days with a cumulative loss of 9.68%.

China Concept Stocks News

Mengniu and JD.com Reach Comprehensive Strategic Cooperation
On September 11, Mengniu Group and JD.com reached a comprehensive strategic cooperation. The two parties clarified that in the next four years, they will strengthen the depth and breadth of cooperation in all channels and various industry end businesses, aiming for a cooperation goal of 30 billion yuan. They will also jointly promote projects such as warehousing network reform, marketing co-creation, new product development, localized supply chain, rural assistance, and public welfare cooperation.

Taobao to Fully Launch WeChat Pay for Consumers by the End of September
According to a previous Taobao announcement, starting today, Taobao will gradually open WeChat Pay to all Taobao Tmall merchants. In response, Taobao customer service stated that after merchants are opened in batches, consumers will fully launch WeChat Pay. "We are currently promoting the batch opening of merchants, and the consumer side is also gradually opening for trial. Please be patient. According to the schedule, all consumers are expected to use WeChat Pay by the end of September."

JD Pay Upgrades Subsidy Efforts, Will Invest 5 Billion Yuan in the Next Three Years
On the first day of the 2024 China International Fair for Trade in Services Financial Services Special Event, JD Pay announced an upgrade in services and subsidies. Over the next three years, JD Pay plans to invest more than 5 billion yuan to subsidize users and donate more than 1.5 billion orders for public welfare services. So far, JD Pay has provided services to over 580 million users.

Taobao Responds to WeChat Pay Integration: Consumer Side Gradually Opened, Fully Available by End of September
According to a previous Taobao announcement, starting today, Taobao will gradually open WeChat Pay to all Taobao Tmall merchants. In response, Taobao customer service stated that after merchants are opened in batches, consumers will fully launch WeChat Pay. "We are currently promoting the batch opening of merchants, and the consumer side is also gradually opening for trial. Please be patient. According to the schedule, all consumers are expected to use WeChat Pay by the end of September."

BeiGene Responds to AbbVie's Second Lawsuit: Denies Allegations, Will Defend Vigorously
According to overseas pharmaceutical industry media reports, multinational pharmaceutical company AbbVie recently filed another lawsuit against BeiGene, alleging that the latter had stolen its BTK degrader's trade secrets. BeiGene stated that it had been informed of AbbVie's recent lawsuit against the company, which involves BeiGene's independently discovered compound BGB-16673. BeiGene will vigorously defend against AbbVie's allegations and is carefully reviewing AbbVie's complaint and will respond appropriately through legal procedures.

Jidu Auto Establishes Sales Service Company in Chongqing with a Registered Capital of 10 Million Yuan
According to Tianyancha App, recently, Chongqing Jidu Auto Sales Service Co., Ltd. was established with Xie Xun as the legal representative. The registered capital is 10 million yuan, and the business scope includes motor vehicle inspection and testing services, new energy vehicle sales, auto decoration product sales, auto parts wholesale, auto parts retail, new energy vehicle accessories sales, new energy vehicle charging facilities sales, and electric vehicle charging infrastructure operations. Shareholder information shows that the company is wholly owned by Jidu Technology (Wuhan) Co., Ltd.

Oriental Selection: Self-operated Products Cold Chain Delivery Coverage Reaches 97%
On September 12, Oriental Selection conducted a live broadcast for the first time in Beijing SF Cold Warehouse, showcasing self-operated product cold chain delivery. Currently, Oriental Selection's self-operated product domestic normal temperature delivery coverage exceeds 99%, and cold chain delivery coverage exceeds 97%. Some areas in new first-tier cities can achieve same-day delivery or next-morning delivery. Since 2022, Oriental Selection has begun to launch self-operated products and has cooperated with 8 regional normal temperature frozen warehouses, 28 provincial normal temperature frozen warehouses, and 464 production warehouses. The live broadcast venue SF Cold Warehouse is one of Oriental Selection's logistics partners.

Tencent Music Launches Global Music Expansion Plan
Tencent Music has launched a global music expansion plan.

Pinduoduo Continues to Promote the "Hundred Billion Reductions" Plan, All Post-Payment Order Service Fees Reduced to 60%
On September 12, after the launch of Pinduoduo's "Hundred Billion Reductions" series of policies, it received positive feedback from many merchants. To continue to help merchants improve quality and efficiency, Pinduoduo once again upgraded the merchant service fee exemption rights, reducing the technical service fee for post-payment orders from 1% to 0.6%, which currently covers all merchants.

Alibaba Cloud: Most Products Affected by Singapore Data Center Fire Have Been Restored to Normal
Alibaba Cloud updated the progress of the Singapore availability zone C data center fire incident, stating that early this morning, most cloud products affected by the network have been restored to normal service. The remaining power outage business in the data center still needs to wait for the restoration of physical conditions. At 20:23 last night, the fire department was still handling the on-site risks of the building, and maintenance engineers were waiting for permission to enter the data center building. If the physical conditions are not suitable for on-site restoration after assessment, the emergency team will implement the server equipment migration recovery plan.

Jiangxiaobai Sues Oriental Selection for Unfair Competition
According to Tianyancha legal litigation information, recently, Chongqing Jiangxiaobai Liquor Co., Ltd. and Oriental Selection's affiliated company Oriental Selection (Beijing) Technology Co., Ltd. added a court hearing announcement for an unfair competition dispute case. The plaintiff is Chongqing Jiangxiaobai Liquor Co., Ltd., and the case will be heard on November 19 in the Chongqing First Intermediate People's Court.