Chinese Concept Stocks | Alibaba Leads Gains with 12.99% Surge, TSMC and Xpeng Fall

On August 29th, Eastern Time, all three major U.S. stock indices closed lower. The S&P 500 fell by 0.64% to 6460.26 points; the Dow Jones Industrial Average decreased by 0.20% to 45544.88 points; and the Nasdaq Composite dropped by 1.15% to 21455.55 points.

On August 29th, the Nasdaq Golden Dragon China Index rose by 1.55%.

In terms of popular Chinese concept stocks, Baidu increased by 4.76%, Bilibili rose by 3.75%, JD.com went up by 2.24%, Alibaba surged by 12.99%, while XPeng Motors fell by 4.13%, TSMC decreased by 3.09%, NIO dropped by 1.92%, Pinduoduo declined by 1.64%, and NetEase fell by 1.07%.

The following companies showed continuous gains: RLX Technology increased by 2.83% over 10 consecutive days with a cumulative increase of 19.25%; China Yuchai International rose by 1.24% over 8 days with a cumulative increase of 10.20%; LiXiang Education Group improved by 2.02% over 8 days with a cumulative increase of 69.75%; ZY Bio-Pharma advanced by 5.52% over 6 days with a cumulative increase of 39.70%; Melco Resorts & Entertainment grew by 0.63% over 5 days with a cumulative increase of 1.26%; TH International Limited climbed by 5.79% over 5 days with a cumulative increase of 21.77%; and QiJi Automotive rose by 0.35% over 5 days with a cumulative increase of 18.92%.

The following companies showed continuous declines: Xinyuan Technology decreased by 1.20% over 5 consecutive days with a cumulative decline of 12.51%; Dingdong Maicai fell by 2.83% over 5 days with a cumulative decline of 10.43%; Inlife Holding experienced a decline of 3.36% over 5 days with a cumulative decline of 8.00%; Stark Technology dropped by 13.87% over 5 days with a cumulative decline of 51.12%; and Easthome Electric fell by 4.73% over 5 days with a cumulative decline of 46.68%.

Jiang Fan, CEO of Alibaba China E-commerce Group, discussed the Taobao Flash Purchase strategy for the first time during an earnings call on the evening of August 29th. He stated that Taobao Flash Purchase exceeded expectations in terms of order volume, user base, merchant supply, and logistics capacity. It is anticipated that with the entry of a million brand stores over the next three years, flash purchases and instant retail will generate an additional 1 trillion yuan in transactions for the platform.

Liu Qiangdong appeared in Suqian, visiting a JD discount supermarket. It is reported that on August 30th, four JD discount supermarkets will open simultaneously in Suqian. Liu Qiangdong was seen smiling and greeting locals warmly. Some speculate his visit might be to watch the Suqian vs. Huai'an match. The JD discount supermarket is the first large-scale discount supermarket format in the country, leveraging JD's supply chain advantages with a "large store, multi-SKU" operating model, covering various categories such as daily necessities, fresh food, fast-moving consumer goods, and beverages.

Alibaba stated that in the past quarter, capital expenditures on artificial intelligence and cloud infrastructure reached 38.6 billion yuan. The company plans to make significant investments to seize opportunities in AI and daily life services.

Alibaba Cloud's external commercialization revenue grew by 26% year-on-year, with AI revenue accounting for over 20% of external commercialization income. This quarter, Alibaba Cloud's revenue increased by 26% to 33.398 billion yuan, driven by accelerated AI application development and increased customer acceptance.

BeiGene announced that in the first half of the year, it achieved a net profit of 450 million yuan, turning a profit compared to a net loss of 2.88 billion yuan in the same period last year. The group's R&D investment during the reporting period was 7.28 billion yuan.

Alibaba Group reported first-quarter revenue for fiscal year 2026, excluding the impact of divested businesses, increased by 10% year-on-year, with net profit rising by 76%, exceeding market expectations. The company emphasized its focus on consumption and AI+Cloud strategies, achieving strong growth and significant synergies through integrating consumer platforms. Alibaba Cloud's revenue growth accelerated due to continued strong AI demand.

Taobao Flash Purchase drove rapid growth, with monthly active users of the Taobao app increasing by 25% year-on-year in the first three weeks of August. Alibaba's China E-commerce Group's customer management revenue reached 89.252 billion yuan, exceeding analyst expectations, with monthly active consumers and daily order volume setting new records.

Alibaba repurchased 56 million ordinary shares for $815 million in the quarter ending June 30, 2025. The company has a remaining repurchase authorization of $19.3 billion under its board-approved share repurchase plan, valid until March 2027.

Baidu's search AI assistant fully launched a speed model that significantly improves the speed of generating search results. The new technology reduces the first token return time by 39% and increases the answer speed by 500%, making it the fastest in the industry.

Boxed supermarket Boxma NB has officially been renamed to "Super Box NB." Boxma (China) Co., Ltd. has applied for several "Super Box NB" and "Super Box" trademarks, registered in international categories like textiles, medical devices, and leather goods.

Zhejiang province launched the construction of a national AI application pilot base in the medical field, with Ant Group participating in the core project "Anzheng'er."

NetEase Cloud Music officially launched the "AI Recommendation" feature, enabling users to generate personalized playlists with a single phrase and save them with one click.

Amap, a subsidiary of Alibaba Group, announced the launch of ride-hailing services in Canada, New Zealand, Switzerland, and the UAE, expanding its services to 30 countries globally.

TSMC plans to build a new 1.4nm advanced process plant, expected to begin construction in October, with a total investment of 1.2 to 1.5 trillion New Taiwan dollars. The first phase of production is planned for 2028, with potential advancement to 1nm.

Eli Lilly China announced a strategic partnership with JD Health to create innovative digital healthcare experiences for people with overweight/obesity, type 2 diabetes, and alopecia.

The "Flash Purchase" feature has been upgraded and is now included in the Taobao App's search bar, appearing alongside traditional product categories with a "30-minute delivery" label. This feature is currently available to select users only.

BeiGene's A-share price hit a historical high, increasing by over 10% to 272.68 yuan.

Pinduoduo is reportedly recruiting for "short drama production operations," seeking personnel responsible for content creation, script development, shooting, and post-production. The company prefers candidates with experience in explosive short dramas.

Over 200 leading fast-moving consumer goods merchants on Tmall have achieved double-digit revenue growth in the past six months. More than 500 new brands with million-level transactions grew by 40% year-on-year, and over 1,000 new merchants with million-level transactions saw a 40% year-on-year increase in sales.

Shandong Weida stated on August 29th that its subsidiary, Kunshan Swop Intelligent Equipment Co., Ltd., is currently manufacturing the fourth-generation battery swap station for NIO.