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Chinese Concept Stocks | Alibaba Conducts $39.99 Million Share Buyback Amid Mixed Performance in Chinese Stocks

AInvestFriday, Jan 3, 2025 5:32 pm ET
3min read

On January 3rd, Eastern Time (Friday), the three major U.S. stock indices all closed higher. The S&P 500 index rose by 1.26% to 5942.47 points, the Dow Jones index increased by 0.80% to 42732.13 points, and the Nasdaq index climbed by 1.77% to 19621.68 points.

On January 2nd, the Nasdaq Golden Dragon China Index fell by 1.51%.

Regarding popular Chinese stocks, TSMC rose by 3.48%, JD.com increased by 3.24%, NIO gained 1.65%, Baidu went up by 1.49%, XPeng Motors climbed by 1.26%, Alibaba increased by 0.70%, NetEase rose by 0.56%, Pinduoduo dropped by 0.07%, and Bilibili fell by 0.06%.

The following are Chinese stocks with consecutive gains: Zhongchi Chafor rose by 8.45% over 5 consecutive days with a cumulative decline of 0.88% during this period. Singularity Future increased by 9.09% over 5 days with a 40.69% gain. Haidilao rose by 0.17% over 4 days with a 6.05% gain. Daqo New Energy increased by 3.01% over 4 days with an 8.20% gain. Huapu Group rose by 4.67% over 4 days with an 18.65% gain. Able View Global increased by 2.19% over 4 days with a 14.77% gain. Enlightify rose by 1.92% over 4 days with a 3.92% gain. Jinsheng Amusement increased by 1.94% over 4 days with a 30.20% gain. Blue Hat rose by 0.14% over 4 days with a 26.54% gain.

The following are Chinese stocks with consecutive declines: Bilibili fell by 0.06% over 5 days with an 11.57% decline. iQIYI dropped by 1.01% over 5 days with a 7.08% decline. DouYu fell by 1.07% over 5 days with a 5.88% decline. Yatsen E-commerce decreased by 8.59% over 5 days with a 26.42% decline. Studio City fell by 6.13% over 4 days with a 19.59% decline. AiHuiShou decreased by 3.51% over 4 days with a 9.54% decline. Qudian dropped by 1.43% over 4 days with a 6.12% decline. Yunxuetang fell by 1.95% over 4 days with a 21.11% decline. Best Group decreased by 0.38% over 4 days with a 1.03% decline. Mingteng fell by 2.11% over 4 days with a 12.12% decline.

Alibaba: Yesterday, Alibaba spent approximately $39.9869 million to repurchase 3.7736 million ordinary shares on the NYSE. The repurchase price per share ranged from $10.53 to $10.62, with a total consideration of about $39.9869 million.

LONGi Green Energy's Response to JinkoSolar's Patent Infringement Lawsuit: On January 3rd, regarding JinkoSolar's lawsuit against LONGi Green Energy for patent infringement, the company responded that they have just seen the relevant content and are still verifying and understanding the specific information internally. Earlier, JinkoSolar filed a lawsuit against LONGi Green Energy in the Intermediate People's Court of Nanchang City, requesting an immediate stop to the infringement of related invention patent rights and compensation for economic losses. The case has been officially filed and accepted.

JinkoSolar Sues LONGi Green Energy for Patent Infringement: JinkoSolar has filed a lawsuit against LONGi Green Energy in the Intermediate People's Court of Nanchang City, demanding an immediate stop to the infringement of related invention patent rights and compensation for economic losses. The case has been officially filed and accepted.

Thunderbird Innovation and Alibaba Cloud Establish Strategic Cooperation: Recently, Thunderbird Innovation RayNeo has officially established a strategic cooperation with Alibaba Cloud. The Tongyi series of large models will provide exclusive customized technical support for Thunderbird Innovation's AI glasses. This cooperation marks the first deep customization collaboration between a large model and an AI glasses hardware manufacturer in China. Alibaba Cloud's Tongyi series large models will provide a full suite of AI technology and product support for Thunderbird Innovation's AI glasses.

Li Auto Applies for "Li VLA" Model Trademark Registration: According to Tianyancha's intellectual property information, Beijing Li Auto Co., Ltd. has recently applied for the registration of a "Li VLA" trademark, classified under scientific instruments. The current status of the trademark is pending substantive examination. Media reports state that recently, CEO Li Xiang mentioned in an interview that Li Auto is no longer just a car manufacturing company but an AI company. In terms of intelligent driving, Li Xiang proposed a new industry concept—the "VLA" model, which stands for the deep integration of vision, language, and action AI capabilities.

Mobile Phone Replacement with State Subsidy and New 3C Competition Among E-commerce Platforms: At the press conference held by the State Council Information Office on January 3rd, an official from the National Development and Reform Commission stated that by 2025, the implementation of the "two new" policies will be expanded to include electronic information, safety production, facility agriculture, and other fields. Subsidies will be provided for the purchase of new digital products such as mobile phones, tablets, and smart watches. According to journalists, some e-commerce platforms have anticipated this policy and made strategic plans and deployments in advance. However, due to differences in operation models, the competition gap among e-commerce platforms, including instant retail platforms, in the 3C category may further widen by 2025. JD's self-operated platform is expected to benefit the most from the national subsidy, followed by Suning and Tmall's self-operated platforms, while Pinduoduo may find it most challenging to benefit.

Alibaba's Cumulative Share Repurchase Reaches $16 Billion in 2024: Alibaba's latest announcement indicates that it repurchased shares worth $1.3 billion in the fourth quarter of 2024. Throughout the entire calendar year of 2024, the company has cumulatively invested $16 billion (approximately RMB 116.8 billion) in share repurchases. It is reported that there is still $20.7 billion remaining under the share repurchase plan, which is valid until March 2027.

Disclaimer: the above is a summary showing certain market information. AInvest is not responsible for any data errors, omissions or other information that may be displayed incorrectly as the data is derived from a third party source. Communications displaying market prices, data and other information available in this post are meant for informational purposes only and are not intended as an offer or solicitation for the purchase or sale of any security. Please do your own research when investing. All investments involve risk and the past performance of a security, or financial product does not guarantee future results or returns. Keep in mind that while diversification may help spread risk, it does not assure a profit, or protect against loss in a down market.