Chinese Concept Stocks | Alibaba Leads Gains as Nasdaq Golden Dragon Index Rises 2.83%

On September 24th, Eastern Standard Time (Wednesday), the three major U.S. stock indices collectively closed lower. The S&P 500 index fell by 0.28%, closing at 6,637.97 points; the Dow Jones index dropped by 0.37%, closing at 46,121.28 points; and the Nasdaq index declined by 0.34%, ending at 22,497.86 points.

On September 24th, the Nasdaq Golden Dragon China Index rose by 2.83%.

In terms of popular Chinese concept stocks, Alibaba rose by 8.22%, Baidu increased by 5.85%, JD.com went up by 5.74%, NIO climbed by 2.89%, Bilibili rose by 1.94%, Pinduoduo increased by 1.90%, XPeng Motors rose by 0.40%, while NetEase fell by 1.83% and TSMC declined by 0.69%.

The following companies showed continuous gains among Chinese concept stocks: HaoXin Holdings increased by 12.70% over 6 consecutive days, with a cumulative increase of 22.77%. Wangdao Technology rose by 2.25% over 5 consecutive days, with a cumulative increase of 10.00%. Huafu Education increased by 0.54% over 5 consecutive days, with a cumulative increase of 10.06%. UTStarcom rose by 2.90% over 4 consecutive days, with a cumulative increase of 13.76%. Yunji increased by 2.90% over 4 consecutive days, with a cumulative increase of 7.73%. Zhongbeite Energy rose by 1.48% over 4 consecutive days, with a cumulative increase of 23.06%. Smart Powerr increased by 6.15% over 4 consecutive days, with a cumulative increase of 31.01%.

The following companies showed continuous declines among Chinese concept stocks: Zhengye Bio fell by 28.90% over 7 consecutive days, with a cumulative decrease of 53.51%. Mobile Finance declined by 6.10% over 7 consecutive days, with a cumulative decrease of 18.20%. Senmiao Technology fell by 4.35% over 6 consecutive days, with a cumulative decrease of 17.60%. Hutchison MediPharma declined by 0.69% over 5 consecutive days, with a cumulative decrease of 9.15%. Kuke Music fell by 12.41% over 5 consecutive days, with a cumulative decrease of 24.53%. Tuanche declined by 2.69% over 5 consecutive days, with a cumulative decrease of 8.53%. Kebiao Technology fell by 6.63% over 5 consecutive days, with a cumulative decrease of 15.67%.

Another cross-border internet brokerage has tightened the account opening requirements for mainland China residents, further restricting the channel. On September 24th, it was learned that for mainland China residents to open an account with Long Bridge Securities, the latest policy requires providing a Hong Kong ID card or permanent residency proof from another country. This is an adjustment to Long Bridge Securities' policy for mainland residents since June this year.

Ant Group announced on September 24th that its Alipay Experience Technology Department has officially open-sourced the intelligent programming assistant Neovate Code. Currently, Neovate Code is provided as a CLI tool, but its architecture is highly flexible and will support various client forms in the future to adapt to more development scenarios.

There are rumors that TSMC's third-generation 3nm process (N3P) foundry price has increased by about 20% compared to the previous N3E process, and the 2nm process to be supplied next year will see a 50% price increase. On September 24th, TSMC responded to inquiries about the price increase rumors, stating that they do not comment on market rumors and pricing issues. TSMC's pricing strategy is always strategy-driven rather than opportunity-driven, and they will continue to work closely with customers to provide value.

On September 24th, Tianneng Co., Ltd. and JD Auto jointly launched a special battery model, providing users with "free on-site installation + one-year free replacement for quality issues" service. JD has included two/three-wheeled electric vehicle batteries in its "free on-site installation + home after-sales" service network for the first time.

According to enterprise information, Hangzhou Xianyu Supply Chain Management Co., Ltd. was recently established. The legal representative is Mei Fengfeng, and its business scope includes supply chain management services, second-hand goods sales, daily necessities sales, price verification and appraisal, luggage repair services, and communication equipment repair. The company's equity penetration shows that it is indirectly wholly owned by Taobao (China) Software Co., Ltd.

At the 2025 Alibaba Cloud Summit, Alibaba Cloud announced a new round of global infrastructure expansion plans: cloud computing regions will be established for the first time in Brazil, France, and the Netherlands, and data centers in Mexico, Japan, South Korea, Malaysia, and Dubai will be expanded to better serve the growing AI and cloud computing needs of global customers.

At the 2025 Alibaba Cloud Summit, Alibaba announced a collaboration with NVIDIA on Physical AI. The partnership covers various aspects of Physical AI practice, including data synthesis processing, model training, environment simulation and reinforcement learning, and model validation testing.

During the 2025 Alibaba Cloud Summit on September 24th, it was learned that NetEase has integrated Alibaba Cloud's Qwen AI model to build an automatic game testing system, improving game development efficiency by 50%.

The legal department of Li Auto stated: Recently, we discovered that a certain online account located in Inner Mongolia published false and misleading information about our company's unreleased new model "Li i6" on the Toutiao platform. The post fabricated after-sales disputes, battery supply, contract terms, and other rumors. Our legal department reported the incident to the police on the day of information release. After an in-depth investigation by public security authorities, it was confirmed that the account is actually controlled by an MCN institution under a certain technology center. The MCN institution attracted traffic by acquiring multiple online accounts and spreading false information on online platforms for illegal profits. Public security authorities have recently imposed administrative penalties on the personnel involved in the case.

At the 2025 Alibaba Cloud Summit, Alibaba Cloud revealed that the daily invocation of models on the Baire platform has grown 15 times over the past year. At the summit, Alibaba Cloud released a new Agent development framework, ModelStudio-ADK.

According to enterprise information, Alibaba (China) Co., Ltd. recently announced a patent for "integrated circuit components and chip packaging structures." The patent abstract shows that the integrated circuit components include: a first wafer die with multiple operational units that perform logical operations in parallel; a second wafer die stacked with the first wafer die, forming multiple access control units; each operational unit corresponds to the multiple access control units, and each operational unit sends at least one data access instruction to at least one access control unit, enabling each access control unit to execute data access in response to the corresponding data access instruction.

According to enterprise information, Ant Yizhi (Guangzhou) Information Technology Co., Ltd. was recently established, with Chai Dongkai as the legal representative and a registered capital of 10 million yuan. Its business scope includes information technology consulting services, big data services, information system operation and maintenance services, etc. The company's equity penetration shows that it is indirectly wholly owned by Ant Technology Group Co., Ltd.

On September 24th, Alibaba Group CEO and Alibaba Cloud Intelligence Group Chairman and CEO Wu Yongming stated at the Cloud Summit that to welcome the era of ASI (Artificial Super Intelligence), the energy consumption scale of Alibaba Cloud's global data centers will increase tenfold by 2032 compared to 2022. This means that Alibaba Cloud's computing power investment will increase exponentially.

Star fund manager Cathie Wood of Ark Invest has restarted its position in Alibaba, as two of its ETFs purchased a total of 99,090 shares of Alibaba ADRs (American Depositary Receipts) valued at $16.13 million. Ark Invest's initial investment in Alibaba can be traced back to 2014. The latest investment indicates that Ark Invest may once again expand its investment in the Chinese internet sector.