Chinese Concept Stocks | Nio and Bilibili Decline Amid Nasdaq China Golden Dragon Index Gain

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On November 6th, Eastern Standard Time (Wednesday), the three major U.S. stock indices surged across the board. The S&P 500 index rose by 2.53% to 5929.04 points; the Dow Jones index increased by 3.57% to 43729.93 points; and the Nasdaq index climbed by 2.95% to 18983.46 points.

On November 5th, the Nasdaq Golden Dragon China Index rose by 1.63%.

Regarding popular Chinese concept stocks, NIO fell by 5.21%, Bilibili dropped by 4.57%, XPeng Motors declined by 3.98%, JD.com decreased by 3.40%, Alibaba was down by 2.49%, Pinduoduo fell by 1.29%, TSMC dropped by 1.23%, Baidu decreased by 1.05%, and NetEase fell slightly by 0.23%.

The companies that have been on a rising streak include Distoken with a recent change of 0.13% over 6 consecutive days, increasing by 0.92% over this period; Research Control Technology rose by 0.11% over 5 days, with a cumulative increase of 19.05%; Yum China went up by 3.08% over 4 days, with a cycle increase of 12.97%; ROKOS rose by 7.44% over 4 days, with a cycle increase of 15.04%; Ankomon increased by 2.72% over 4 days, with a cycle increase of 10.53%; MKDWELL Tech rose by 4.61% over 4 days, with a cycle increase of 15.98%; Origen Seeds went up by 1.52% over 4 days, with a cycle increase of 5.12%; Tongcheng Tongmei increased by 3.00% over 4 days, with a cycle increase of 4.36%; and Boqii Pet Products rose by 9.41% over 4 days, with a cycle increase of 17.42%.

The companies experiencing a decline streak include Li Xiang Education with a recent change of -3.73% over 8 consecutive days, decreasing by 43.00% over this period; Yuchai International decreased by 0.93% over 6 days, with a cumulative decrease of 10.01%; 1 Pharma Network fell by 3.86% over 6 days, with a cycle decrease of 15.88%; XChange dropped by 4.96% over 6 days, with a cycle decrease of 39.79%; and LianDai Technology decreased by 4.83% over 6 days, with a cycle decrease of 16.89%.

Li Auto: No Sales Agents or Authorized Dealers Established
On November 6th, the Legal Department of Li Auto issued a statement stating that the only official service channel for Li Auto's overseas sales business is B2B@lixiang.com. Currently, Li Auto has not established any domestic or overseas sales agents or authorized dealers. Any individuals or institutions claiming to be sales agents or authorized dealers of Li Auto have not received official authorization from the company.

Dingdong Maicai Q3 Revenue Reaches 6.54 Billion Yuan, Adjusted Net Profit Increases Ninefold
Dingdong Maicai released its third-quarter financial report for 2024, ending on September 30th. Total revenue reached 6.5382 billion yuan, a 27.2% increase from 5.1397 billion yuan in the same period of 2023. The net profit was 133.4 million yuan, a 6240.6% increase from 2.1 million yuan in the same period of 2023. Non-GAAP net profit was 161.6 million yuan, a 942.0% increase from 15.5 million yuan in the same period of 2023.

Li Auto Establishes Sales and Service Company in Wuxi
According to Tianyancha App, recently, Li Xing Automobile Sales Service (Wuxi) Co., Ltd. was established, with Nie Maolin as the legal representative and a registered capital of 1 million yuan. The business scope includes the sale of new energy vehicles, retail of auto parts, information consulting services, used car brokerage, operation of electric vehicle charging infrastructure, and centralized fast charging stations. The company's equity penetration chart shows that it is wholly owned by Beijing Li Ding Automobile Sales Co., Ltd., a wholly-owned subsidiary of Leading Ideal HK Limited, which is under Li Auto.

Fliggy's "Double 11" Hotel Package Users Surpass Last Year's Entire Period
Fliggy announced that the consumer scale for hotel packages during Double 11 has significantly surpassed the entire period of last year. Additionally, the total number of hotel room nights booked far exceeds the same period last year. As of November 5th at 24:00, over 2 million high-star hotel packages have been sold domestically. Furthermore, the sales of outbound travel hotel packages have been strong, with the transaction volume surpassing the entire period of last year within just three days of the Double 11 sale starting.

XPeng Motors' Robot Already Working in Factory
XPeng Motors CEO He Xiaopeng stated that the AI robot, XPeng Iron, will be equipped with multiple self-developed chips supporting an end-to-end large model, with 15 degrees of freedom and bionic hands that support touch feedback. Currently, this robot is already working in XPeng Motors' factory, and in the future, XPeng Iron will focus on scenarios such as factories and stores.

XPeng Huitian Flying Car to Start Pre-sale in December
XPeng Motors Chairman and CEO He Xiaopeng announced at today's XPeng Tech Day that the XPeng Huitian flying car's aircraft has completed the acceptance of its airworthiness certificate application and is expected to achieve electronic and unmanned one-click takeoff in 2026. This flying car will make its global public flight debut at the China Airshow in November and officially start pre-sale in December. Before final delivery, He Xiaopeng requires the XPeng Huitian executive team to accumulate more than 5000 kilometers of flight mileage.

XPeng to Develop Ultra Models for Robotaxi Service
XPeng Motors Chairman He Xiaopeng mentioned the progress of L4 at XPeng AI Tech Day. He introduced that XPeng's dedicated system might remove the steering wheel, changing from mandatory to optional, allowing users to hide or use it as needed. Additionally, the Ultra models will be developed for L4, with a global development focus for Robotaxi service.

XPeng Motors Launches Chip Upgrade Plan for Old Users, Crowdfunding Starts Next Monday
On the afternoon of November 6th, at XPeng AI Tech Day, XPeng Motors Chairman He Xiaopeng announced that the chip renewal plan for old users will start crowdfunding from November 11th to December 12th. According to the plan, old users can pay to upgrade the vehicle chip, with single Orin models upgradeable to dual Orin chips, and 820A models can be upgraded to 8295 chips.

XPeng Turing AI Chip Has Successfully Run Intelligent Driving Functions
On November 6th, XPeng Motors Chairman and CEO He Xiaopeng revealed the latest progress of the XPeng Turing AI chip: in October this year, the chip successfully ran the latest version of intelligent driving functions, completing as many as 2791 function verifications in just 40 days.

XPeng Motors CEO He Xiaopeng: Best Path for Chinese Cars to Go Global Is Not Cost-Effectiveness
XPeng Motors Chairman and CEO He Xiaopeng stated at today's XPeng Tech Day that the best path for Chinese car companies to go global is not to focus on cost-effectiveness but to enhance technological content. By 2025, XPeng will enter 60 countries and regions, simultaneously establishing over 300 overseas after-sales service outlets.

He Xiaopeng: XPeng's Large Model Target for Next Year Is to Achieve One Intervention Per 100 Kilometers
On the afternoon of November 6th, XPeng Motors Chairman He Xiaopeng stated at XPeng AI Tech Day that the goal for XPeng's large model in 2025 is to achieve one intervention per 100 kilometers, aiming to achieve a quasi-L3+ intelligent driving experience within 18 months.

XPeng Launches XPeng Kunpeng Super Electric System
At AI Tech Day, XPeng officially launched the XPeng Kunpeng Super Electric System! "Kun" represents the super range-extending system, while "Peng" signifies XPeng's globally leading pure electric system. The XPeng Kunpeng Super Electric System will become an important process for accelerating globalization, addressing the shortcomings of foreign energy replenishment systems. He Xiaopeng stated that XPeng should be prepared to face different countries and regions, providing more convenient and universal energy replenishment solutions.

He Xiaopeng: XPeng Has Entered 30 Countries and Regions Globally, Expanding to 60 Next Year
At XPeng AI Tech Day, XPeng Motors Chairman and CEO He Xiaopeng gave a speech. Discussing XPeng's globalization achievements, He Xiaopeng stated that in the first three quarters of 2024, XPeng achieved the highest sales of Chinese high-end pure electric models in the European market. Starting from Europe, XPeng has officially embarked on globalization. Currently, XPeng has entered 30 countries and regions worldwide, establishing 145 overseas after-sales service outlets, with plans to expand to 60 countries and regions next year.

XPeng Motors Launches Hybrid Silicon Carbide Coaxial Electric Drive for Super Electric and Pure Electric Models
On November 6th, XPeng Motors officially launched a new motor technology—the Hybrid Silicon Carbide Coaxial Electric Drive, with a CLTC efficiency of 93.5%. The new motor will be used in super electric models and pure electric models. Additionally, XPeng Motors stated that it has currently entered 30 countries and regions worldwide, establishing 145 overseas after-sales service outlets, with plans to expand to 60 countries and regions next year.

Li Auto Accelerates New Energy Vehicle Market Layout with New Wuxi Company
On November 6th, according to Tianyancha App, Li Xing Automobile Sales Service (Wuxi) Co., Ltd. was officially established, with Nie Maolin as the legal representative and a registered capital of 1 million yuan. The company is located in Wuxi, Jiangsu Province, with a wide business range, including the sale of new energy vehicles, retail of auto parts, information consulting services, used car brokerage, operation of electric vehicle charging infrastructure, and centralized fast charging stations.

November 6th Noon Announcement Summary: Hutchison Medipharma's Solimbrutinib Long-Term Treatment Effectively Increases Platelet Count
Hutchison Medipharma announced that the ESLIM-1 Phase III study of Solimbrutinib and several studies of compounds independently developed by Hutchison Medipharma will be presented at the 2024 American Society of Hematology Annual Meeting in San Diego, USA, from December 7th to 10th, 2024, and at the 2024 European Society for Medical