Chinese Concept Stocks | Alibaba's $10 Million Buyback Boosts Shares

On June 4th, Eastern Standard Time (Wednesday), the three major U.S. stock indices were mixed. The S&P 500 index rose by 0.01%, closing at 5970.81 points; the Dow Jones index fell by 0.22%, closing at 42427.74 points; and the Nasdaq index increased by 0.32%, closing at 19460.49 points.

On June 4th, the Nasdaq Golden Dragon China Index rose by 2.04%.

Among popular Chinese concept stocks, NIO increased by 6.37%, Alibaba rose by 3.89%, XPeng Motors grew by 3.67%, JD.com went up by 2.84%, TSMC increased by 2.44%, Bilibili rose by 1.50%, Baidu went up by 1.36%, Pinduoduo increased by 1.34%, and NetEase rose by 0.92%.

In continuous rising Chinese concept stocks, Qudian increased by 0.67% over 8 consecutive days with a cumulative increase of 7.94%. RLX Technology rose by 2.42% over 7 consecutive days with a total increase of 7.07%. 51Talk increased by 2.80% over 6 consecutive days with a cumulative increase of 14.58%. Mobile Finance surged by 60.83% over 6 consecutive days with a total increase of 160.60%. Flash Delivery grew by 3.96% over 5 consecutive days with a cumulative increase of 22.20%. Long Teng Acquisition increased by 0.05% over 5 consecutive days with a total increase of 0.34%.

In continuous declining Chinese concept stocks, Huachen Technology decreased by 2.55% over 7 consecutive days with a cumulative decline of 84.48%. WeRide fell by 4.68% over 6 consecutive days with a total decrease of 14.95%. WiMi Hologram Cloud dropped by 3.37% over 5 consecutive days with a cumulative decline of 21.58%. Starry Cloud Print decreased by 2.21% over 5 consecutive days with a total decline of 14.52%. ZTO Express fell by 0.29% over 4 consecutive days with a cumulative decline of 4.54%. AiHuiShou dropped by 0.41% over 4 consecutive days with a total decrease of 6.84%. MicroAlgo fell by 5.47% over 4 consecutive days with a cumulative decline of 23.90%. Shengfeng Logistics decreased by 0.50% over 4 consecutive days with a total decline of 1.52%. Three Easy Technology fell by 2.85% over 4 consecutive days with a cumulative decline of 13.52%. Phoenix New Media decreased by 0.36% over 4 consecutive days with a total decline of 11.66%. FuCe Financial Technology Group fell by 13.43% over 4 consecutive days with a cumulative decline of 18.31%.

Alibaba: Repurchased 695,200 shares on the New York Stock Exchange on June 3, costing approximately $10 million.
Alibaba repurchased 695,200 shares on the New York Stock Exchange on June 3, costing approximately $10 million.

Game AI Competition Heats Up: Tencent, MiHoYo, and NetEase Showcase "Technical Ace"
Tencent Games has developed a game creation AI full-chain solution business called "VISVISE," which includes development tools like Auto LUV and Skirt AI created by its product performance team, GoSkinning. Various AI game tools are under intensive development. Recently, Tencent Hunyuan also launched the Hunyuan Game Visual Generation Platform, which is the first industrial-grade AIGC game content production engine based on the Hunyuan large model, significantly optimizing game asset generation and production processes. For example, in the cases provided by the Hunyuan game team, the Hunyuan game platform can accurately restore professional terms such as "thick painting," "cel shading," and "cyberpunk," and supports the high consistency generation of mainstream game styles and themes like realistic, cartoon, and oriental mythology. AI is becoming a new engine for Tencent's gaming business. During the first-quarter earnings call this year, Tencent CEO Pony Ma stated that Tencent's AI capabilities have already made substantial contributions to evergreen games and other businesses. Not only Tencent, but NetEase and MiHoYo are also increasing their AI game layout.

Xunlei Completes Acquisition of Hupu
Recently, Xunlei announced the completion of its acquisition of Hupu's operating company, Shanghai Kuanghui Network Technology Co., Ltd. According to the terms of the final agreement between the two parties, Xunlei has paid 400 million yuan in cash consideration before the transaction was completed. Xunlei will pay the remaining 100 million yuan in cash consideration in two equal installments 12 months and 24 months after the transaction is completed.

Ant Group Establishes New Information Technology Company in Nanjing with a Registered Capital of 10 Million
According to the Aiqicha App, recently, Hangzhou Nanxun Information Technology Co., Ltd. was established, with Hu Shuiqing as the legal representative and a registered capital of 10 million yuan. Its business scope includes marketing planning, information consulting services, information technology consulting services, digital technology services, network technology services, information system integration services, data processing and storage support services, computer and office equipment repair, and professional design services. Shareholder information shows that the company is wholly owned by Hangzhou Ant Future Technology Co., Ltd., a subsidiary of Ant Group.

Miniso Reportedly Hires JPMorgan and UBS to Assist TOP TOY's IPO in Hong Kong
Miniso has reportedly hired JPMorgan and UBS to assist in the IPO of its subsidiary, TOP TOY, in Hong Kong.

Xpeng and Huawei Tease Strategic Cooperation
Xpeng Motors and Huawei QianKun Intelligent Vehicle Solutions teased on Weibo that they will officially announce their strategic cooperation at a press conference on June 5. In February this year, Xpeng Motors Chairman and CEO He Xiaopeng visited Huawei founder Ren Zhengfei.