Chinese Concept Stocks | TSMC Gains 4.09% Amid Strong Q4 Profits, While Alibaba Slightly Declines

On January 16th (Thursday) Eastern Time, the three major U.S. stock indexes collectively fell. The S&P 500 Index dropped by 0.21%, closing at 5937.34 points; the Dow Jones Index fell by 0.16%, closing at 43153.13 points; and the Nasdaq Index declined by 0.89%, closing at 19338.29 points.

On January 15th, the Nasdaq Golden Dragon China Index rose by 0.97%.

Among popular Chinese concept stocks, XPeng Motors rose by 6.28%, TSMC increased by 4.09%, NIO went up by 1.34%, Bilibili rose by 0.89%, JD.com increased by 0.14%, NetEase fell by 4.44%, Baidu dropped by 0.95%, Pinduoduo declined by 0.44%, and Alibaba fell by 0.02%.

Regarding continuously rising Chinese concept stocks, Wangban Technology rose by 2.37% over 15 consecutive days with a cumulative increase of 33.79%. Global Lights rose by 0.09% over 9 consecutive days with a cumulative increase of 0.47%. Xiangsong International rose by 0.88% over 7 consecutive days with a cumulative increase of 17.94%. JOYY rose by 3.09% over 6 consecutive days with a cumulative increase of 9.11%. Four Seasons Education rose by 2.11% over 6 consecutive days with a cumulative increase of 11.50%.

Regarding continuously declining Chinese concept stocks, MicroAlgo fell by 3.41% over 11 consecutive days with a cumulative decrease of 58.23%. Chengdao Environmental Protection fell by 5.25% over 7 consecutive days with a cumulative decrease of 71.16%. Pearl River Transportation fell by 4.78% over 7 consecutive days with a cumulative decrease of 20.69%. Zeekr fell by 0.97% over 6 consecutive days with a cumulative decrease of 10.91%. Canadian Solar fell by 1.94% over 6 consecutive days with a cumulative decrease of 16.33%.

Chinese Concept Stocks News

Alipay Responds to Bug Incident, Says It Will Not Reclaim Discounts from Users
In the early morning of January 17th, Alipay issued a statement saying: Yesterday afternoon, due to a mistake on our part, a small number of users enjoyed instant discounts when making payments. Some users posted screenshots, concerned about whether we would reclaim the discounts. Here are a few facts: 1. Alipay has not sent any messages to reclaim funds. If you receive a message as shown in the screenshot, do not click on it to avoid being scammed, and please help spread the word. 2. How did the mistake occur? It was due to an error in configuring the marketing template in the backend of a routine Alipay marketing campaign, where both the discount amount and type were incorrectly set. 3. Since it was our mistake, we will bear the cost and responsibility ourselves. Alipay will not reclaim the issued marketing discounts from users, so please rest assured.

Major Alipay Incident: All Orders Received 20% Discount for 5 Minutes
On January 16th, several Alipay users posted screenshots on social media of their order payment pages, stating that between 14:40 and 14:45 in the afternoon, they received a "government subsidy" discount of 20% on personal transfers, credit card payments, and bill payments made through Alipay. Ant Group confirmed this fact. When asked about the specific time period, affected area, and total amount involved in the "government subsidy bug" on the Alipay platform, the official did not respond.

Tmall Genie and Quark Merge to Explore AI Glasses
Reporters have learned from multiple independent sources that the Intelligent Connectivity Business Group under Alibaba has recently been managed by Wu Jia, the President of the Intelligent Information Business Group. "Intelligent Connectivity" is a first-level business unit established by Alibaba in 2022, with its core brand being "Tmall Genie," one of the few To C hardware businesses within Alibaba. In the future, Intelligent Connectivity will continue to operate independently, with Song Gang, the head of the Tmall Genie Business Center, reporting to Wu Jia. It is understood that the Tmall Genie hardware team is currently working in integration with the Quark product team, focusing on the planning and definition of the next generation of AI products, as well as the integration of AI capabilities from Quark. Additionally, the new team will explore new hardware directions, including AI glasses, after the merger. Reporters have reached out to Alibaba for confirmation of the above information, but there has been no response as of publication.

Douyu Appoints Ren Simin as Co-CEO
Douyu announced that its board of directors has appointed Ren Simin as the company's Co-Chief Executive Officer (Co-CEO), effective immediately.

TSMC CFO: Business Expected to Be Affected by Smartphone Seasonality in Q1
TSMC CFO stated that the revenue in the fourth quarter of 2024 increased by 14.3% quarter-over-quarter, primarily due to strong demand for our industry-leading 3nm and 5nm technologies. The 3nm process technology accounted for 26% of wafer revenue in the fourth quarter, while 5nm and 7nm accounted for 34% and 14%, respectively. The business in the first quarter is expected to be affected by the seasonality of smartphones, but this will be partially offset by continued growth in AI-related demand.

Li Auto: Free Service Fees for Li Auto Supercharging Stations from Today Until February 4th
On January 16th, Li Auto announced that from today until February 4th, 2025 (the seventh day of the Lunar New Year), service fees for charging at all Li Auto supercharging stations on highways will be waived for all Li Auto users.

TSMC Responds to CoWoS Order Cut Rumors: False, Company Continues to Expand Capacity
On January 16th, during a TSMC earnings call, an investor inquired about the CoWoS order cut and the slowdown in capacity expansion. In response, TSMC Chairman Wei Zhejia replied: "There are many rumors, but the company continues to expand capacity to meet customer demand." The industry also stated that TSMC's CoWoS overall supply is still in short supply, and even if customers switch from CoWoS-S to CoWoS-L, it does not mean order cuts, as the overall capacity of CoWoS-L is still insufficient to meet the increasing demand from customer groups.

TSMC Plans to Begin 2nm Wafer Mass Production in the Second Half of 2025
TSMC plans to begin mass production of 2nm wafers in the second half of 2025.

TSMC Expects Q1 Revenue of $25 Billion to $25.8 Billion, Market Estimated $24.43 Billion
TSMC expects first-quarter revenue to be between $25 billion and $25.8 billion, while the market estimated $24.43 billion.

TSMC Q4 Net Profit Reaches 374.7 Billion TWD, Estimated 369.84 Billion TWD
TSMC's fourth-quarter net profit reached 374.7 billion Taiwanese dollars, with an estimate of 369.84 billion Taiwanese dollars.

Li Auto: Cumulative Deliveries of Li L6 Exceed 200,000 Units in Less Than 9 Months Since Launch
On January 16th, Li Auto announced on Weibo that cumulative deliveries of the Li L6 have exceeded 200,000 units in less than 9 months since its launch.