Chinese Concept Stocks | Alibaba Health to Reduce Stake in China Health by Up to 3%
3min read On November 22nd, Eastern Time (Friday), the three major U.S. stock indices closed higher collectively. The S&P 500 rose by 0.35% to 5,969.34 points; the Dow Jones increased by 0.97% to 44,296.51 points; and the Nasdaq gained 0.16% to 19,003.65 points.
On November 21st, the Nasdaq Golden Dragon China Index fell by 1.00%.
Regarding popular Chinese concept stocks, NIO rose by 3.09%, Pinduoduo fell by 3.86%, Bilibili decreased by 3.19%, XPeng Motors dropped by 3.01%, Alibaba went down by 2.79%, NetEase declined by 2.47%, JD.com fell by 1.98%, Baidu decreased by 1.59%, and TSMC dropped by 0.64%.
Companies with consecutive gains included: Xiaoying Technology with a recent change of 0.80%, rising for 7 days with a cumulative increase of 3.11%; Burning Rock Biotech with a recent change of 4.09%, rising for 7 days with a cumulative increase of 60.00%; Uxin with a recent change of 7.13%, rising for 6 days with a cumulative increase of 42.12%; Deswell Industries with a recent change of 0.01%, rising for 6 days with a cumulative increase of 2.68%; Amer Sports with a recent change of 2.57%, rising for 5 days with a cumulative increase of 25.71%; Hesai with a recent change of 2.82%, rising for 5 days with a cumulative increase of 16.18%.
Companies with consecutive declines included: Fangdd with a recent change of -8.53%, declining for 11 days with a cumulative decrease of -62.17%; Keboda Technology with a recent change of -9.33%, declining for 6 days with a cumulative decrease of -26.33%; Smart Charging with a recent change of -9.50%, declining for 5 days with a cumulative decrease of -31.48%; Flash Delivery with a recent change of -1.24%, declining for 5 days with a cumulative decrease of -12.85%; Alibaba with a recent change of -2.86%, declining for 4 days with a cumulative decrease of -6.96%; Yum China with a recent change of -0.04%, declining for 4 days with a cumulative decrease of -1.24%; Kanzhun with a recent change of -1.24%, declining for 4 days with a cumulative decrease of -7.40%; GDS Holdings with a recent change of -0.49%, declining for 4 days with a cumulative decrease of -22.05%; Huya with a recent change of -0.99%, declining for 4 days with a cumulative decrease of -5.08%; Kaixin Auto with a recent change of -2.86%, declining for 4 days with a cumulative decrease of -9.25%; Greenland Technologies with a recent change of -0.45%, declining for 4 days with a cumulative decrease of -9.05%; Enjoy Holdings with a recent change of -4.30%, declining for 4 days with a cumulative decrease of -7.55%; MKDWELL Tech with a recent change of -0.10%, declining for 4 days with a cumulative decrease of -5.98%; Genetron Holdings with a recent change of -9.11%, declining for 4 days with a cumulative decrease of -52.63%.
Chinese Stock News:
LV's New Bag Charm and Keychain Resemble Baidu Logo, Priced at 6,600 Yuan
Recently, Louis Vuitton's official website launched new LV PAW bag charms and keychains, which resemble the paw print pattern from Baidu's logo. According to LV's website, one side of the double-sided bag charm and keychain is crafted in smooth leather in the shape of a paw, while the other side features Monogram elements upgraded with soft and plush sheepskin texture, priced at 6,600 yuan. Currently, other products like the 19,000 yuan Rush waist bag from LV are being sold with this accessory.
China Health: Alibaba Health Plans to Reduce Shares by No More Than 3%
China Health announced that its shareholder Alibaba Health Technology Limited plans to reduce its holding by no more than 12 million shares, or 3% of the total share capital, within three months starting fifteen trading days after the announcement. The reduction will be carried out through centralized bidding or bulk trading, with no more than 1% of the total shares to be reduced through centralized bidding in any consecutive 90 days, and no more than 2% through bulk trading. The reduction period is from December 16, 2024, to March 15, 2025. Alibaba Health currently holds 30.0494 million shares, representing 7.51% of the company's total share capital.
Cloud Music Announces Change of Stock Name to "NetEase Cloud Music"
On November 22nd, Cloud Music announced on the Hong Kong Stock Exchange that its English stock abbreviation will change from "CLOUDMUSIC" to "NETEASEMUSIC," and the Chinese abbreviation will change from "Cloud Music" to "NetEase Cloud Music," effective from 9:00 AM on November 27, 2024. The stock code will remain unchanged as "9899." From January 1, 2025, any subsequent stock issuances will be under the company's new name.
BYD Denies Joint Venture with NIO
Li Yunfei, General Manager of Brand and Public Relations at BYD Group, stated that the online rumors about investment and cooperation between BYD and NIO are severely inaccurate. There were rumors today about a collaboration between BYD and NIO to form a joint venture called Future Auto Group.
Jidu Auto Establishes Technology Service Company in Foshan with 10 Million Yuan Registered Capital
According to Tianyancha, Foshan Jidu Technology Service Co., Ltd. was recently established, with Xia Yiping as the legal representative and a registered capital of 10 million yuan. The company's business scope includes sales of new energy vehicles, wholesale of auto parts, sales of charging piles, used car brokerage, vehicle appraisal, and parking lot services. The company's equity structure shows that it is wholly owned by Jidu Technology (Wuhan) Co., Ltd., which is a wholly-owned subsidiary of Jidu Auto (Hong Kong) Co., Ltd.