Chinese Concept Stocks | Alibaba and Hangzhou Strengthen Strategic Partnership for Digital Infrastructure Development

On April 2nd, Eastern Time, the three major U.S. stock indices all closed higher. The S&P 500 index rose by 0.67%, closing at 5670.97 points; the Dow Jones index increased by 0.56%, closing at 42225.32 points; and the Nasdaq index went up by 0.87%, closing at 17601.05 points.

On April 1st, the Nasdaq Golden Dragon China Index rose by 0.50%.

Among popular Chinese concept stocks, Bilibili increased by 1.79%, TSMC rose by 1.01%, XPeng Motors was up by 0.76%, Baidu grew by 0.33%, NetEase increased by 0.05%, while Pinduoduo fell by 2.55%, Alibaba decreased by 2.25%, NIO declined by 1.94%, and JD.com dropped by 0.56%.

Lanting Jishi saw a recent change of 1.33% over 9 consecutive days of increase, with an overall rise of 123.53% during this period. Zhongchi Chafuk had a recent change of 25.33% over 7 consecutive days, with a total increase of 39.26%. Sijiao Education saw a recent change of 0.20% over 7 consecutive days, with an overall rise of 10.41%. Wangban Technology showed a recent change of 6.57% over 5 consecutive days, with an overall increase of 6.41%. Yipin Weike had a recent change of 1.77% over 5 days, with an overall rise of 6.60%. Oriental Culture saw a recent change of 7.94% over 5 days, with a total increase of 140.79%. Tongcheng Tongmei had a recent change of 3.19% over 5 days, with an overall rise of 32.35%.

Burning Rock Biotech saw a recent change of -1.61% over 9 consecutive days of decline, with a total decrease of -25.87% during this period. Pony.ai had a recent change of -4.18% over 7 consecutive days, with a total decline of -42.77%. Lotus Technology saw a recent change of -0.62% over 7 days, with an overall decrease of -27.85%. Sohu had a recent change of -3.44% over 7 days, with a total decline of -10.49%. Fucheng Financial Technology Group saw a recent change of -11.11% over 7 days, with an overall decrease of -28.97%.

First Service has entered five logistics parks of JD Logistics, adding a management area of 492,400 square meters, fully undertaking property services to enhance operational efficiency and service quality.

The strategic cooperation promotion meeting between Hangzhou and Alibaba Group was held on April 2nd. The vice mayor of Hangzhou expressed the hope for a new journey with Alibaba Group to jointly build the "new infrastructure" foundation of the digital era, strengthen cooperation in core computing projects, expand computing resource deployment, drive the development of the entire digital "new infrastructure" industry chain, and help Hangzhou become a globally competitive and influential AI industry development hub. They aim to jointly tackle key technological challenges, create benchmark AI application scenarios, and establish a global digital trade hub with government-enterprise collaboration to build a new digital trade paradigm. They also aim to develop a "digital + livelihood" service system to provide more good products, services, and formats for the public.

XPeng Motors announced the successful issuance of the "XPeng Financing Lease 2025 First Phase Green Directional Asset-backed Notes (Bond Connect)" with a total issuance size of 895 million yuan. This project is the first automotive financing lease off-balance-sheet green bond connect ABN project in China, strictly following U.S. and Hong Kong accounting standards without setting up credit enhancements, achieving asset off-balance-sheet. The project was initiated by XPeng Motors' subsidiary Guangzhou XPeng Motors Financing Lease Co., Ltd., and the issuance received positive investor subscription.

Sources indicate that Alibaba may release an upgraded version of its flagship AI model, Qwen3, in late April. It is expected to be the most important model product for Alibaba in the first half of 2025, coming about seven months after the release of Qwen2.5 at the Alibaba Cloud Conference in September 2024.

JD.com announced a salary increase, with Dada employees' salaries upgrading to 19 months' pay this year and to 20 months' pay next year. Additionally, some outstanding Dada employees will be awarded JD Group stock.

Li Auto announced that the cumulative delivery of the Li L series exceeded 1 million units in just 31 months.

On April 1st, NIO Energy and Changsha Economic Development Group signed a cooperation agreement to build 100 integrated "solar-storage-charging-swap" energy stations in Hunan. The two parties will engage in deep cooperation in the construction of new energy vehicle charging and swapping infrastructure, smart energy management systems, and virtual power plant access, promoting green and low-carbon development.