Chinese Concept Stocks | Nasdaq Golden Dragon Index Drops 1.52% as Key Stocks See Mixed Performance

On August 22nd (Thursday), Eastern Time, the three major U.S. stock indexes collectively closed lower. The S&P 500 index fell 0.89% to 5570.64 points; the Dow Jones index fell 0.43% to 40712.78 points; the Nasdaq index fell 1.67% to 17619.35 points.

On August 22nd, the Nasdaq Golden Dragon China Index fell 1.52%. Among popular Chinese concept stocks, Pinduoduo rose 0.86%, NIO rose 0.50%, Bilibili fell 7.56%, Baidu fell 4.40%, TSMC fell 2.85%, NetEase fell 11.17%, XPeng Motors fell 1.70%, JD.com fell 1.41%, and Alibaba fell 0.71%.

[Rising Chinese Concept Stocks]
BAIYU Holdings rose 32.54% for 7 consecutive days, with a cumulative increase of 193.98%. Gulf Resources rose 4.80% for 7 consecutive days, with a cumulative increase of 14.29%. Able View Global rose 3.47% for 6 consecutive days, with a cumulative increase of 32.59%. WiMi Hologram Cloud rose 32.19% for 6 consecutive days, with a cumulative increase of 138.49%. American International rose 3.21% for 6 consecutive days, with a cumulative increase of 9.77%. Mingzhu Logistics rose 2.36% for 6 consecutive days, with a cumulative increase of 18.71%. Meiwu Technology rose 2.30% for 6 consecutive days, with a cumulative increase of 17.41%.
[Falling Chinese Concept Stocks]
Yatsen Holding fell -3.07% for 5 consecutive days, with a cumulative decrease of -8.20%. OneConnect Financial Technology fell -4.96% for 5 consecutive days, with a cumulative decrease of -14.10%. Dada Nexus fell -11.45% for 4 consecutive days, with a cumulative decrease of -17.14%. RLX Technology fell -6.47% for 4 consecutive days, with a cumulative decrease of -28.57%. XChange fell -5.26% for 4 consecutive days, with a cumulative decrease of -15.09%. LakeShore Biopharma fell -2.21% for 4 consecutive days, with a cumulative decrease of -9.80%. Fanhua Holdings fell -3.65% for 4 consecutive days, with a cumulative decrease of -7.69%. Uxin fell -1.23% for 4 consecutive days, with a cumulative decrease of -10.02%. 51Talk fell -5.95% for 4 consecutive days, with a cumulative decrease of -15.05%.
[Chinese Concept Stocks News]

Alibaba Shareholders' Meeting Approves Appointment of PwC Zhong Tian and PwC as Accounting Firms
Alibaba shareholders' meeting approved the appointment of PwC Zhong Tian and PwC as accounting firms.
Robin Li of Baidu: Wenxin Model Daily Calls Exceed 600 Million, Daily Token Usage Around 1 Trillion
During Baidu's Q2 2024 earnings call, Baidu's founder, chairman, and CEO, Robin Li, disclosed that the Wenxin model has over 600 million daily calls and processes about 1 trillion tokens of text daily, the highest in China. Compared to the 50 million daily calls announced in Q4 2023, it has grown more than tenfold in six months. During the quarter, Baidu launched the more performant Wenxin Model 4.0 Turbo and introduced several discount strategies. ERNIE Speed, ERNIE Lite, and ERNIE Tiny three lightweight models are free, while the flagship models Wenxin 3.5 and 4.0 have been significantly discounted.
Robin Li: 18% of Search Results Are AI-Generated
During Baidu's Q2 2024 earnings call, Baidu's founder, chairman, and CEO, Robin Li, stated that 18% of search results are AI-generated. Additionally, the distribution volume of intelligent agents in the Baidu ecosystem has significantly increased, with over 8 million daily distributions in July, twice that of May.
Baidu Chairman and CEO Robin Li: Generative AI Contributed 9% to Cloud Computing Revenue in Q2, Up from 6.9% in Q1
Baidu Chairman and CEO Robin Li: Generative AI contributed 9% to cloud computing revenue in Q2, up from 6.9% in Q1.
Baidu Chairman and CEO Robin Li: 18% of Baidu Search Results Are AI-Generated, Up from 11% in May
Baidu Chairman and CEO Robin Li: 18% of Baidu search results are AI-generated, up from 11% in May.
JD.com, Taobao, Pinduoduo, Douyin, and Kuaishou Jointly Sign "Self-Regulation Convention for Online Trading Compliance"
According to the official WeChat account of the Beijing Municipal Market Supervision Administration, today, under the guidance of market regulatory authorities in Beijing, Zhejiang, and Shanghai, five major platform companies, including JD.com, Taobao, Pinduoduo, Douyin, and Kuaishou, jointly signed the "Self-Regulation Convention for Online Trading Compliance" in Beijing. The convention advocates strengthening the management of online live streaming and short video marketing activities, prohibiting unfair competition, and protecting consumers' personal information by law. The convention proposes initiatives in five areas: implementing platform responsibilities, protecting consumer rights, prohibiting unfair competition, regulating pricing behavior, and government-enterprise joint governance.
Alibaba International Station: Number of Paying Buyers Increased by 30% Year-on-Year in the First Half of the Year
Currently, global trade is entering a new wave of growth. Data from Alibaba International Station for the first half of the year shows that the number of overseas paying buyers increased by more than 30% year-on-year; among the top 10 industries with the highest online transaction growth, half are related to machinery and construction materials, with products like excavators, loaders, and drilling rigs experiencing online transaction growth of over 50%. In major markets such as the U.S., Germany, and France, Alibaba International Station's download ranking has jumped to fourth place.
iQIYI: Q2 Total Revenue of 7.4 Billion Yuan, Operating Profit of 500 Million Yuan
iQIYI announced that in the second quarter of 2024, its total revenue was 7.4 billion yuan. Among this, membership service revenue was 4.5 billion yuan; online advertising service revenue was 1.5 billion yuan; content distribution revenue was 700 million yuan; other revenue was 780 million yuan. For the quarter, iQIYI's non-GAAP operating profit was 500 million yuan, with an operating profit margin of 7%.
Baidu Q2 Financial Report: Provided About 899,000 Ride Services in the Quarter, Up 26% Year-on-Year
Baidu released its Q2 2024 financial report, showing that in the field of autonomous driving, as of July 28, its autonomous driving ride-hailing service had provided over 7 million total rides nationwide; in the second quarter, it provided about 899,000 rides, a year-on-year increase of 26%. In May of this year, Baidu released a driverless car equipped with the Apollo sixth-generation autonomous driving system solution and launched the world's first large model supporting L4-level autonomous driving, Apollo ADFM (Autonomous Driving Foundation Model). The sixth-generation car has already begun large-scale testing. Additionally, Baidu was included in the S&P Global's "Sustainability Yearbook (China Edition) 2024" due to its outstanding ESG performance, standing out from 1,700 participating companies and being successfully selected, highlighting the international market's high recognition of Baidu's sustainable development practices.
NetEase Q2 2024 Revenue of 25.5 Billion Yuan, Up from 24 Billion Yuan in the Same Period Last Year
NetEase announced on the Hong Kong Stock Exchange that the company's net revenue for the second quarter of 2024 was 25.5 billion yuan, an increase of 6.1% year-on-year. Net revenue from games and related value-added services was 20.1 billion yuan, an increase of 6.7% year-on-year. Youdao's net revenue was 1.3 billion yuan, an increase of 9.5% year-on-year. Cloud Music's net revenue was 2 billion yuan, an increase of 4.7% year-on-year.
Baidu Group: Q2 2024 Revenue of 33.9 Billion Yuan, Same as the Same Period Last Year
Baidu Group announced on the Hong Kong Stock Exchange that its total revenue for the second quarter ended June 30, 2024, was 33.9 billion yuan, an 8% increase quarter-on-quarter and flat year-on-year. Baidu Core's revenue was 26.7 billion yuan, an increase of 1% year-on-year. Net profit attributable to Baidu was 5.5 billion yuan, a 1% increase quarter-on-quarter. Non-GAAP operating profit was 7.5 billion yuan, a 12% increase quarter-on-quarter. The monthly active users of the Baidu APP reached 703 million, an increase of 4% year-on-year.
EHang Achieves Profitability in Q2, Record High eVTOL Deliveries
On August 22nd, eVTOL technology company EHang (EH.US) announced its financial results for the second quarter of 2024, showing a strong upward trend in product deliveries and financial health. Q2 revenue was 102 million yuan, a year-on-year increase of 919% and a quarter-on-quarter increase of 65%, setting a new quarterly revenue record. The company achieved profitability in the second quarter, with adjusted net profit of 1.15 million yuan. With all three certificates in hand, EHang's first-mover advantage in the low-altitude aircraft product sales end is evident, delivering a total of 49 EH216-S products in the second quarter, a significant increase from 26 in the first quarter.
TSMC's CoWoS Production Bottleneck Resolved, Capacity Expected to Significantly Increase
In its 2025-2026 expansion plan, TSMC has successfully overcome key bottlenecks and will significantly increase CoWoS capacity. TSMC has raised its CoWoS capacity forecast for the end of 2025 from the previous 60,000-62,000 wafers per month to 70,000 wafers per month. The additional capacity will mainly be used to produce CoW-S products to meet the accelerated production schedule of Nvidia's B200A.
Hema Fresh Pilot Front Warehouse? Latest Response: The News is True
There are reports that Hema Fresh has resumed the front warehouse model abandoned four years ago in Shanghai, aiming to provide 30-minute express delivery service within a 3-kilometer radius for consumers. A Hema spokesperson responded to reporters, saying: "The news is true. However, it is not about creating a new model or new business type. In cities where Hema stores are already very dense, there are still some areas