Chinese Concept Stocks | Alibaba Surges Amid AI Buzz, Breaks Trading Volume Record

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On February 21 (Friday) Eastern Time, all three major U.S. stock indices fell by more than 1%. The S&P 500 Index dropped by 1.71% to 6013.13 points; the Dow Jones Index fell by 1.69% to 43428.02 points; the Nasdaq Index decreased by 2.20% to 19524.01 points.

On February 20, the Nasdaq Golden Dragon China Index rose by 1.60%.

Regarding popular Chinese concept stocks, Alibaba increased by 5.68%, Pinduoduo rose by 5.57%, XPeng Motors gained 4.12%, Bilibili increased by 3.21%, JD.com rose by 2.99%, Baidu gained 1.82%, NetEase increased by 1.78%, NIO rose by 1.72%, and TSMC fell by 0.92%.

Among the continuously rising Chinese concept stocks, Eureka Acquisition increased by 0.34% over 28 consecutive days with a cumulative rise of 0.84%; Future Vision rose by 0.30% over 8 consecutive days with a cumulative increase of 0.40%; Zai Lab surged by 9.00% over 7 consecutive days with a cumulative rise of 24.83%; Kandi Technologies gained 9.72% over 7 consecutive days with a cumulative increase of 44.95%; and Rising Dragon increased by 0.10% over 6 consecutive days with a cumulative rise of 0.40%.

Among the continuously falling Chinese concept stocks, Cango decreased by 0.95% over 8 consecutive days with a cumulative decline of 20.15%; Kuke Music fell by 13.76% over 6 consecutive days with a cumulative drop of 34.63%; Suxuantang decreased by 8.70% over 6 consecutive days with a cumulative decline of 12.95%; iClick fell by 0.65% over 5 consecutive days with a cumulative drop of 9.31%; TSMC decreased by 0.93% over 4 consecutive days with a cumulative decline of 2.78%; Opera fell by 3.69% over 4 consecutive days with a cumulative drop of 10.38%; Dajian Yuncang decreased by 3.31% over 4 consecutive days with a cumulative decline of 8.70%; Jinxin Technology fell by 2.99% over 4 consecutive days with a cumulative drop of 19.75%; Xunlei decreased by 7.40% over 4 consecutive days with a cumulative decline of 11.83%; Metalpha Technology fell by 6.11% over 4 consecutive days with a cumulative drop of 21.48%; Huami Technology decreased by 0.67% over 4 consecutive days with a cumulative decline of 1.98%; Nisun International fell by 8.11% over 4 consecutive days with a cumulative drop of 14.63%; Inlife decreased by 11.96% over 4 consecutive days with a cumulative decline of 85.12%; Golden Star Amusement fell by 1.01% over 4 consecutive days with a cumulative drop of 30.99%; Lifeon Kitchenware decreased by 2.44% over 4 consecutive days with a cumulative decline of 21.18%; and Haoxi Health fell by 0.54% over 4 consecutive days with a cumulative drop of 7.50%.

Former NIO Executive Joins Megvii, Appointed as Vice President of R&D
Multiple sources have confirmed that Qin Hailong, a former executive in charge of autonomous driving at NIO, has joined Megvii Technology as Vice President of R&D, responsible for the company's intelligent driving mass production and end-to-end technology development.

Hang Seng Index Company Announces Quarterly Review Results
The Hang Seng Index Company announced its quarterly review results, with no changes to the Hang Seng Index constituents. Tencent Music and Horizon Robotics have been added to the Hang Seng Technology Index, while Oriental Selection and ZhongAn Online have been removed. The Hang Seng China Enterprises Index will include ZTO Express and BeiGene, while China Biopharmaceutical and Li Ning will be removed.

Vipshop's Q4 Adjusted Earnings per ADS Exceed Expectations
Vipshop's Q4 net revenue was RMB 33.22 billion, a 4.2% year-on-year decline, compared to an estimated RMB 31.89 billion. Adjusted earnings per ADS were RMB 5.7, compared to RMB 5.79 in the same period last year, and an estimated RMB 5.26. The number of active users was 45.7 million, a 5.8% year-on-year decline, compared to an estimated 46.54 million.

He Xiaopeng Discusses Humanoid Robots: Current Industry Still at L2 Initial Stage of Autonomous Driving
On February 21, He Xiaopeng, CEO of XPeng Motors, posted on social media, stating that after recent discussions with Wang Xingxing, founder of Unitree Robotics, and Zhou Jian of UBTECH Robotics, they reached a consensus on the development of the humanoid robot industry. The current humanoid robots are still at the L2 initial stage of autonomous driving, but the industry hopes to achieve mass production and commercial value of L3 initial capabilities as soon as possible. The leap from L2 to L3 in humanoid robots requires significantly more capability and difficulty. Autonomous driving reaching the L3 stage will mark an "iPhone 4 moment," but humanoid robots need to reach the L4 stage to achieve this "iPhone 4 moment," when robots become a reality in households.

Alibaba's USD Convertible Bonds Reach Record High
Driven by the AI boom, the price of one of Alibaba's USD convertible bonds has reached a record high. Boosted by strong financial results, Alibaba's USD convertible bonds maturing in 2031 have risen about 38% this year to 147.8 cents, outperforming all similar bonds with an issuance volume exceeding $300 million in the Asia-Pacific region. Alibaba issued these convertible bonds in May last year, raising a total of $5 billion, making them one of the largest such issuances in recent years.

JD Food Delivery Head Announces Progress on Providing Social Security for Full-Time Riders
On February 21, Xu Huijie, head of JD Food Delivery, stated that there are currently over 10 million food delivery riders nationwide, who previously lacked comprehensive social security. Starting from March 1 this year, JD will gradually provide full-time JD Food Delivery riders with social security benefits, and related preparations are progressing rapidly and intensively.

Li Auto to Equip All Models with LiDAR
All new vehicles from Li Auto this year will be equipped with LiDAR sensors as part of their intelligent driving systems, covering both extended-range and pure electric series models. Previously, Li Auto's intelligent driving configurations included two solutions: AD Max and AD Pro. The most significant difference is that the former is equipped with NVIDIA Orin X chips, LiDAR, and self-developed algorithms by Li Auto, while the latter uses Horizon Journey 5 chips, without LiDAR, and algorithms provided by supplier Qingzhou Zhihang.

Alibaba Trading Volume Exceeds HKD 40 Billion
Alibaba's trading volume exceeded HKD 40 billion, hitting a record high, and currently rising by over 15%.

Vice Chairman of CSRC Li Ming: Law Enforcement Adheres to Objectivity and Neutrality
On February 21, Li Ming, Vice Chairman of the China Securities Regulatory Commission, stated at the press conference on "Strictly Cracking Down on Securities Violations and Crimes to Promote the Healthy and Stable Development of the Capital Market" that CSRC law enforcement adheres to objectivity and neutrality, treats everyone equally before the law, avoids disproportionate enforcement results, and maintains enforcement strength while releasing enforcement warmth, continuously improving enforcement transparency, striving to achieve strictness with moderation, strictness with strategy, and strictness with effectiveness. First, establish and improve standards for identifying and exercising discretion in violations. Second, continuously strengthen quality control and internal supervision of law enforcement. Third, legally respect and protect the legitimate rights and interests of the parties involved.

Jumplustar's Latest Open-Source Multimodal Models Launched on Alibaba Cloud ModelScope
Today, at the Global Developer Conference (GDC), Alibaba Cloud ModelScope community launched Jumplustar's latest open-source multimodal models, including the world's largest open-source video generation model, Step-Video-T2V, and the first industry-grade open-source speech interaction model, Step-Audio. To date, the ModelScope community has listed over 40,000 open-source models, covering multiple fields such as LLM, dialogue, speech, text-to-image, and image-to-video, making it China's largest AI model community.

Huawei Technology: Currently, the Company Only Maintains a Supplier Relationship with Alibaba
On February 21, Huawei Technology responded on an interactive platform, stating that the company currently only maintains a supplier relationship with Alibaba, with no other forms of collaboration.

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