Chinese Concept Stocks | Nasdaq Golden Dragon Index Drops 6.10%; Nio Leads Declines Among Major Stocks

On October 10th, Eastern Time (Friday), the three major U.S. stock indices all fell by over 1%. The S&P 500 Index dropped by 2.71%, closing at 6,552.51 points; the Dow Jones Index fell by 1.90%, closing at 45,479.60 points; and the Nasdaq Index decreased by 3.56%, closing at 22,204.43 points.

On October 10th, the Nasdaq Golden Dragon China Index fell by 6.10%.

Regarding popular Chinese concept stocks, Bilibili fell by 9.39%, Alibaba by 8.46%, XPeng Motors by 8.21%, Baidu by 8.09%, TSMC by 6.37%, JD by 6.24%, Pinduoduo by 5.32%, NetEase by 3.12%, and NIO by 10.12%.

The stocks that have been rising continuously include: Jiufu with a recent increase of 19.76% over 7 consecutive days, resulting in a cumulative increase of 98.66%; Hongli Steel Structure rose by 1.23% for 5 consecutive days, accumulating a rise of 22.68%; Mingzhu Freight increased by 19.08% over 3 consecutive days, with a cumulative increase of 44.20%; Jinsun rose by 0.77% over 3 consecutive days, totaling a rise of 12.99%; and Leiya Electronics increased by 0.17% over 3 consecutive days, with a cumulative rise of 11.70%.

The stocks that have been falling continuously include: Huazhu with a recent decrease of 0.64% over 7 consecutive days, resulting in a cumulative decline of 5.35%; Sohu fell by 4.39% for 7 consecutive days, accumulating a drop of 9.18%; Alibaba decreased by 8.45% over 6 consecutive days, with a cumulative decline of 16.02%; Hesai fell by 11.09% over 6 consecutive days, totaling a drop of 20.17%; X3 Holdings decreased by 11.54% over 6 consecutive days, with a cumulative decline of 28.59%; and Next Technology fell by 5.32% over 6 consecutive days, resulting in a cumulative drop of 19.04%.

On October 10th, in response to the news that Liu Xianming would be replacing Li Liyun as the head of XPeng Motors' intelligent driving division, XPeng Motors confirmed that the information is true. Public information shows that Liu Xianming has previously worked at Facebook (now Meta) and General Motors' autonomous driving company Cruise, engaging in cutting-edge research in machine learning and computer vision. Liu Xianming joined XPeng Motors in March 2024, leading the transformation of XPeng Motors' autonomous driving towards an AI strategy, and is responsible for XPeng Motors' world base model. He is currently the head of XPeng Motors' autonomous driving center organization, comprehensively responsible for the center's business and organizational management, reporting to He Xiaopeng. Additionally, XPeng Motors stated, "Li Liyun will take a temporary break due to health reasons. We thank Liyun for leading the XPeng intelligent driving team since 2023 and making significant contributions to the company."

The Tianyancha App shows that on October 10th, Guangzhou XPeng Motors Technology Co., Ltd. disclosed a patent for a "method, device, robot, medium, and product for pose generation of humanoid robots." The abstract indicates that the invention relates to the field of robotics technology and includes the following steps: obtaining the first voice data to be output, the first special action mark, Gaussian noise, and time steps; determining the first Mel spectrum and the first deep semantic features based on the first voice data, where the first deep semantic features are processed by a self-supervised voice representation learning model; inputting the first Mel spectrum, the first deep semantic features, the first special action mark, Gaussian noise, and time steps into the pose generation model; determining the first action data based on the output of the pose generation model, which is a diffused model that has completed training; synchronously controlling the humanoid robot to generate hand gesture actions represented by the first action data when outputting the first voice data. This invention can generate more varied actions within the distribution, enhancing the naturalness and intimacy of human-machine interaction.