Chinese Concept Stocks | Alibaba and Baidu Support Apple's AI Launch in China

On May 6th, Eastern Time (Tuesday), the three major indexes in the U.S. stock market collectively fell. The S&P 500 Index dropped by 0.77%, closing at 5606.91 points; the Dow Jones Index fell by 0.95%, closing at 40829.00 points; and the Nasdaq Index decreased by 0.87%, closing at 17689.66 points.

On May 6th, the Nasdaq Golden Dragon China Index rose by 0.42%.

Regarding popular Chinese concept stocks, Baidu increased by 1.08%, Alibaba rose by 0.81%, Pinduoduo grew by 0.42%, Bilibili remained unchanged, JD.com stayed flat, TSMC dropped by 2.36%, NIO fell by 1.63%, XPeng Motors declined by 0.88%, and NetEase decreased by 0.76%.

GOTU increased by 0.59% over 11 consecutive days, with a cumulative increase of 30.42%. 36Kr rose by 1.31% over 11 days, with a total increase of 48.49%. Futu Holdings grew by 1.67% over 7 days, with a cumulative rise of 17.09%. Huazhu increased by 0.55% over 7 days, with a total gain of 7.76%. Boss Zhipin rose by 0.18% over 7 days, with a cumulative increase of 14.48%. Xinye Technology grew by 2.37% over 7 days, with a total rise of 12.22%. Baozun E-commerce increased by 7.72% over 7 days, with a cumulative gain of 28.99%.

MicroAlgo fell by 11.56% over 11 consecutive days, with a cumulative decrease of 70.32%. MClouds declined by 3.72% over 8 days, with a total drop of 46.96%. Canaan Technology decreased by 3.54% over 7 days, with a cumulative decrease of 27.97%. EJia Quick Service fell by 18.07% over 7 days, with a total decline of 91.33%. Sound Group decreased by 5.38% over 6 days, with a cumulative fall of 44.59%.

On May 6th, the second batch of newly added participating companies for the Shanghai consumer subsidy event was announced. The list includes e-commerce platforms such as Meituan and Ele.me. This is part of the 2025 home appliance, mobile phone, and home decoration consumer subsidy policy.

The Shanghai Stock Exchange updated its information on the 6th, showing that the status of the CICC Vipshop Outlet REIT is "declared," with the original equity holder being Shanshan Commercial Group Co., Ltd.

On May 5th, Alibaba spent $9.99 million to repurchase 632,000 shares.

During the May Day holiday period (May 1st to May 5th), Huazhu Group hotels received nearly 6.3 million guests, which is 1.3 times the number during the same period in 2024. The overall occupancy rate of the hotels exceeded 84%, slightly increasing by about 1 percentage point compared to the same period in 2024. The peak occupancy period was from May 1st to May 3rd, with an average occupancy rate of 97% for these three days. On May 2nd, the overall occupancy rate reached 103%, with more than 9,600 hotels fully booked and over 10,000 hotels having occupancy rates exceeding 90%.

Recently, a visually impaired blogger carrying a guide dog was denied accommodation at a hotel under Huazhu. This sparked discussions. According to the blogger's video, despite completing online reservations and multiple phone communications, the hotel refused to check them in, citing "no relevant reception mechanism." Eventually, the blogger was accommodated at a nearby hotel after police and hotel front desk coordination. Subsequently, a Kunming area netizen randomly called 10 hotels under Huazhu, including brands such as Hanting, All Seasons, and Mercure, and found that only 3 hotels allowed guide dogs, while the rest refused. In response, a Huazhu Kunming spokesperson stated that the group requires all hotels to follow relevant laws and regulations to accommodate guide dogs. They have started training staff on accommodating guide dogs to ensure implementation of this requirement. Guests with guide dogs are advised to bring valid guide dog certificates and vaccination proof before checking in.

On May 6th, it was revealed by a well-known tech journalist Mark Gurman that Apple's AI might activate some features in mainland China with the iOS 18.6 system, supported by Alibaba and Baidu. Specifically, Baidu's Ernie Bot model will serve as the core cloud intelligence engine for Apple's AI in China. Meanwhile, Alibaba will provide a review mechanism to ensure AI content complies with local regulations.

On May 6th, Li Auto's L series smart update version launch event was scheduled for May 8th at 8:00 PM, unveiling the Li Auto L7 smart update version in blue-gray color.

Recent property clue information shows that Beijing JD.com 360 e-commerce Co., Ltd. has applied to register several "Joyrobotaxi" trademarks, with international classifications including advertising sales, scientific instruments, and construction repairs. The current trademark status is awaiting substantive review.

This morning, Taobao's flash sale launched a free order event, and many users reported that Taobao's flash sale crashed, resulting in blank pages and inability to access. In response, Taobao's official customer service stated that "currently, the page is accessible normally. If such a situation occurs, it indicates a high number of visitors."

This year's May Day holiday saw a surge in immediate retail demand, driven by policies and upgraded consumer needs. According to reports, domestic tourism during May Day reached a near three-year peak, with national railways expected to send 144 million passengers, growing by 4.9% year-over-year. Against this backdrop, the immediate retail demand during May Day significantly increased. JD.com's instant retail platform JD Fresh reported nearly a 110% year-over-year growth in online order volume. JD Fresh's own brand mixed nuts saw a 245% increase in transaction value, French lamb racks grew by 274%, and fresh Russian king crab increased by 269%. Fruit wine transaction value rose by 86%, craft beer by 85%, and traditional Chinese liquor saw a surge in banquet demand, with Jiannanchun Crystal Sword increasing by 127% and Fenjiu Qinghua 20 rising by 83%.