Chinese Concept Stocks | Nasdaq Golden Dragon Index Falls 1.46% Amid Mixed Performance of Key Stocks

On August 7 (Wednesday), Eastern Time, the three major U.S. stock indexes collectively closed lower. The S&P 500 fell by 0.77% to 5199.50 points; the Dow Jones Index fell by 0.60% to 38763.45 points; and the Nasdaq Index fell by 1.05% to 16195.81 points.

On August 7, the Nasdaq Golden Dragon China Index fell by 1.46%.

Among popular Chinese concept stocks, NetEase rose by 1.21%, Pinduoduo rose by 0.40%, XPeng Motors fell by 5.40%, Bilibili fell by 4.47%, NIO fell by 2.39%, Baidu fell by 1.21%, JD.com fell by 0.47%, TSMC fell by 0.23%, and Alibaba fell by 0.05%.

【Consecutive Rising Chinese Concept Stocks】

Color Star rose by 39.28% for 11 consecutive days, with a cumulative increase of 151.26%. BeiGene rose by 3.16% for 4 consecutive days, with a cumulative increase of 8.90%. Studio City International rose by 0.08% for 4 consecutive days, with a cumulative increase of 1.23%. ZTO Express rose by 0.82% for 3 consecutive days, with a cumulative increase of 6.82%. Yum China rose by 1.47% for 3 consecutive days, with a cumulative increase of 14.66%. Melco Resorts & Entertainment rose by 0.18% for 3 consecutive days, with a cumulative increase of 6.21%. Daqo New Energy rose by 2.11% for 3 consecutive days, with a cumulative increase of 11.21%. DouYu rose by 0.68% for 3 consecutive days, with a cumulative increase of 2.32%. Sohu rose by 0.47% for 3 consecutive days, with a cumulative increase of 3.10%. Burning Rock Biotech rose by 2.99% for 3 consecutive days, with a cumulative increase of 5.78%. Able View Global rose by 2.75% for 3 consecutive days, with a cumulative increase of 2.75%. Huize Holding rose by 0.97% for 3 consecutive days, with a cumulative increase of 10.34%. ZK International rose by 4.94% for 3 consecutive days, with a cumulative increase of 10.15%. Graphene E-Material rose by 2.19% for 3 consecutive days, with a cumulative increase of 3.70%. Zhongchao Inc. rose by 31.19% for 3 consecutive days, with a cumulative increase of 38.83%. Boqii Holding rose by 3.27% for 3 consecutive days, with a cumulative increase of 5.19%.

【Consecutive Falling Chinese Concept Stocks】

TCG Financial Services fell by 3.27% for 11 consecutive days, with a cumulative decrease of 46.37%. Infobird fell by 0.99% for 9 consecutive days, with a cumulative decrease of 23.28%. Huapu Group fell by 6.16% for 8 consecutive days, with a cumulative decrease of 47.31%. Baozun fell by 0.45% for 8 consecutive days, with a cumulative decrease of 11.60%. Great Chitech fell by 4.35% for 8 consecutive days, with a cumulative decrease of 27.87%. Meituan Technology fell by 0.48% for 8 consecutive days, with a cumulative decrease of 22.36%.

【Chinese Concept Stock News】

BeiGene: The company plans to change its registered location from the Cayman Islands to Switzerland
BeiGene announced that the company plans to change its registered location from the Cayman Islands to Switzerland by re-registering as a joint-stock company in Switzerland and deregistering in the Cayman Islands (referred to as the "proposed re-domiciliation" or "proposed relocation").
Rocket Launch? Taobao Official Response: It is indeed a real rocket launch, and the rocket will be officially launched within the year
On August 7, Taobao officially announced that it will invite 88VIP members to participate in a special event. Members will have the opportunity to paint their wishes on a rocket through interactive comments and witness the rocket launch. Some netizens questioned whether it was a real rocket. Taobao responded that it is indeed a real rocket launch, and they will paint the wishes of netizens on the rocket during a live broadcast on the evening of August 8. The rocket is scheduled to be launched within the year. Zhongke Aerospace also announced today: "Taobao and Zhongke Aerospace are collaborating to launch the 'Space Stroll Plan' with astronaut Liu Cixin, inviting Taobao 88VIP users and Liu Cixin to 'paint a big rocket' and witness the 'Lijian-1 Carrier Rocket Taobao 88VIP Exploration' flying within the year."
Shanghai Trading Group and JD Group signed a strategic cooperation agreement
On August 7, Shanghai Trading Group and Beijing JD Century Trading Co., Ltd. (referred to as "JD Group") signed a strategic cooperation agreement. Both parties will use this signing as an opportunity to continuously leverage their respective advantages and jointly create a new blueprint for win-win cooperation.
Contemporary Amperex Technology: Holding 18.8 million yuan equity in Daobo Property was judicially frozen
Wuhan Contemporary Amperex Technology Co., Ltd.'s 18.8 million yuan equity in Wuhan Daobo Property Development Co., Ltd. was frozen by the Hubei Wuhan Intermediate People's Court. The freezing period is from August 2, 2024, to August 1, 2027.
Dong Yuhui's first live broadcast after independence, three consecutive days from the 7th to the 9th
On the evening of August 6, Dong Yuhui appeared in the live broadcast room. According to the host schedule published by "Walking with Hui," Dong Yuhui will have his first official live broadcast after "breaking up" with Oriental Selection on the evening of August 7. Dong Yuhui last appeared in the live broadcast room on July 24, and the next day Oriental Selection announced on the Hong Kong Stock Exchange that well-known host Dong Yuhui had resigned. It is understood that Dong Yuhui will broadcast live for three consecutive nights on August 7, 8, and 9, and will successively have dialogues with Olympic swimming champion Jiao Liuyang and contemporary artist Cai Guoqiang.
Foryou Group: Has obtained the LCD instrument project for XPeng Flying Car
On August 7, Foryou Group announced on its interactive platform that the company has obtained the LCD instrument project for XPeng Flying Car. In addition, the company's electronic outside rearview mirror products have obtained multiple fixed-point projects, and the electronic outside rearview mirror products supporting Enjoy World S9 have begun mass production.
BeiGene: Net loss of 2.877 billion yuan in the first half of 2024
BeiGene announced that its total operating revenue in the first half of the year was 11.996 billion yuan, a year-on-year increase of 65.4%, with a net loss of 2.877 billion yuan.
Baidu Maps crashed? Customer service responded that the related issues have been fixed
On August 7, "Baidu Maps Crashed" became a trending topic. Some netizens reported on social platforms that Baidu Maps had errors in positioning and issues with planning driving routes. Around 4 PM, reporters found that the related functions had been restored when using Baidu Maps for driving route planning and bus navigation. Baidu Maps customer service responded in the afternoon of August 7, stating that the related issues had been fixed and asked users to try again.
JD's billion-dollar subsidies will undergo major adjustments: Beauty products become the key subsidy sector
On the afternoon of August 7, it was reported that JD's billion-dollar subsidies will undergo major adjustments, focusing on the beauty products category and significantly increasing investments. A person close to JD's executives revealed that JD will continue to increase its investment in billion-dollar subsidies, with all additional subsidies supporting beauty products, including both self-operated and third-party merchants' full-category beauty products, which will enjoy billion-dollar subsidies. It is estimated that after the new round of subsidies, consumers will enjoy at least an additional 10% discount when purchasing beauty products on JD's billion-dollar subsidy platform. JD has not responded to this yet.
Victory Blue: Several products will be supplied in small batches to XPeng Flying Car
In response to an investor's question about further cooperation with XPeng Flying Car, Victory Blue stated on August 7 on its interactive platform that several of its products will be supplied in small batches to XPeng Flying Car.
Hema has been profitable for four consecutive months, abandoning the replication of Sam's Club
According to LatePost, Hema is regrouping after changing leadership for four months. It was learned that in a company-wide meeting in June, the new CEO Yan Xiaolei stated: "Hema will not be sold." She reiterated this in new employee training sessions and activities for long-serving employees. Yan Xiaolei also set a goal of 100 billion yuan annual GMV in three years, a 69% increase compared to 2023. She said, "By then, Hema will have become one of China's top retailers, and listing will be a natural outcome." From March to June this year, Hema achieved profitability during the off-season for the first time. The last time Hema achieved continuous overall profitability was in the fourth quarter of 2022 and the first quarter of 2023. Hema plans to list in the second half of 2023 and carry out a "discount reform," which led to losses. Achieving profitability for four consecutive months in the off-season indicates the potential for long-term, stable profitability.
Yu Minhong has resigned as the supervisor of Walking with Hui
On August 7, it was discovered from the National Enterprise Credit Information Publicity System that Walking with Hui (Beijing) Technology Co., Ltd. had undergone an industrial and commercial change. The original sole shareholder, Beijing New Oriental Xuncheng Network Technology Co., Ltd., withdrew, and Dong Yuhui became the sole shareholder. Yu Minhong also resigned as the supervisor of Walking with Hui. However, as of the time of writing, the financial responsible person of Walking with Hui, Wang Jielin, has not been replaced. Wang Jielin is still the supervisor of Oriental Selection (Beijing) Technology Co., Ltd. and Oriental Selection (Zhuhai) Tourism and Culture Co., Ltd.
Peanut trading is not ideal, market participants are mainly watching
Currently, new peanuts are sporadically coming to the market in Jiangxi, but the moisture content is still high. Spring peanuts in Henan are expected to start being harvested in mid-to-late August. Recently, the wholesale market has been watching and waiting, with low enthusiasm for purchasing old rice. As of August 7, the reference price of Baisha 8-sieve premium rice in Zhumadian was 9600 yuan/ton, down 1.54% from the beginning of the month, with the decline