Chinese Concept Stocks | Beike Soars Over 11% on Strong Q2 Earnings and Expanded Buyback Plan

On August 12 (Monday), Eastern Time, the three major U.S. stock indexes showed mixed results. The S&P 500 index rose 0.00% to 5344.39 points; the Dow Jones index fell 0.36% to 39357.01 points; and the Nasdaq index rose 0.21% to 16780.61 points.

On August 12, the Nasdaq Golden Dragon China Index rose 0.61%.

Regarding popular Chinese concept stocks, Pinduoduo rose 3.21%, Alibaba rose 1.20%, JD.com rose 0.73%, TSMC rose 0.31%, Baidu rose 0.15%, XPeng Motors fell 3.35%, Bilibili fell 2.67%, NetEase fell 0.90%, and NIO fell 0.66%.

【Continued Rising Chinese Concept Stocks】
Global Lights rose 0.19% for 9 consecutive days, with a cumulative increase of 0.77% over this period. Douyu rose 7.99% for 6 consecutive days, with a cumulative increase of 16.20%. Able View Global rose 18.64% for 6 consecutive days, with a cumulative increase of 28.44%. Pinduoduo rose 3.21% for 5 consecutive days, with a cumulative increase of 12.90%. Uxin rose 3.75% for 5 consecutive days, with a cumulative increase of 4.40%. Ming Teng rose 2.34% for 5 consecutive days, with a cumulative increase of 17.74%. Huiyang New Energy rose 20.03% for 5 consecutive days, with a cumulative increase of 47.10%. Euro-Asia Instrument rose 0.65% for 5 consecutive days, with a cumulative increase of 6.12%.
【Continued Falling Chinese Concept Stocks】
Huapu Group fell 13.60% for 11 consecutive days, with a cumulative decrease of 63.46% over this period. Meta Data fell 31.61% for 9 consecutive days, with a cumulative decrease of 88.24%. Taoping fell 3.37% for 8 consecutive days, with a cumulative decrease of 33.96%. Bilibili fell 2.67% for 5 consecutive days, with a cumulative decrease of 15.63%. Mengyun Hologram fell 5.19% for 5 consecutive days, with a cumulative decrease of 28.26%.
【Chinese Concept Stocks News】

Beike's Q2 Revenue Reaches 23.4 Billion Yuan, Plans to Expand and Extend Share Repurchase Plan
On August 12, Beike, a real estate transaction and service platform, announced its unaudited financial results for the second quarter of 2024. The data shows that in the second quarter, Beike's total revenue was 23.4 billion yuan, an increase of 19.9% year-on-year; gross margin was 27.9%; net profit was 1.9 billion yuan, an increase of 46.2% year-on-year; adjusted net profit was 2.693 billion yuan. Beike pointed out that in the second quarter of 2024, there was a dense implementation of easing policies, the transaction volume of the stock housing market improved, and the year-on-year decline in the new housing market narrowed month by month but was still under pressure. In the context of gradually recovering market sentiment, the profit contribution rate of the stock housing business increased from 44.5% to 47.5% quarter-on-quarter. In addition, the turnover days of accounts receivable for new houses shortened from 69 days in the first quarter to 45 days. Beike's Q2 revenue reaches 23.4 billion yuan, plans to expand and extend share repurchase plan.
Meituan and Ele.me Have Resumed Delivery Services Near Hangzhou Xixi Century Center
On August 12, the conflict between property security at Hangzhou Xixi Century Center and food delivery riders received widespread attention. That evening, Meituan and Ele.me suspended delivery services near Xixi Century Center, with the page showing "Delivery services are temporarily unavailable in your current location." As of the evening of August 12, Meituan and Ele.me had resumed delivery services near Xixi Century Center.
BeiGene's U.S. Stocks Hit a New High Since December Last Year
BeiGene's U.S. stocks rose more than 2%, hitting a new high since December last year, closing at $186.9.
Beike Rises Over 11%
Beike rose over 11%, with a significant increase in net profit by 46.2% in the second quarter, and repurchase authorization increased to $3 billion.
Beike: Q2 Revenue Increased by 19.9% Year-on-Year
Beike released its financial report, showing Q2 2024 revenue of 23.4 billion yuan, an increase of 19.9% year-on-year; Q2 NON-GAAP net profit of 2.69 billion yuan; Q2 transaction volume of 839 billion yuan (115.5 billion USD), an increase of 7.5% year-on-year. Furthermore, Beike plans to expand and extend its share repurchase plan, increasing repurchase authorization from $2 billion to $3 billion for Class A ordinary shares and/or American depositary shares.
Niu Technologies' Q2 2024 Revenue Reaches 940 Million Yuan, Up from 829 Million Yuan in the Same Period Last Year
Niu Technologies' Q2 2024 revenue reached 940 million yuan, up from 829 million yuan in the same period last year. The adjusted net loss for the second quarter was 19.5 million yuan, compared to a net profit of 14.4 million yuan in the same period last year. The company expects third-quarter revenue to be between 1.33 billion yuan and 1.48 billion yuan.
Alibaba's Fall 2025 Campus Recruitment Launches, Alibaba Cloud to Hire Nearly 1,000 Technical Positions
Alibaba officially launched its fall 2025 campus recruitment today. On the same day, Alibaba Group and its subsidiaries, including Alibaba Cloud, AutoNavi, and Lingxi Interactive Entertainment, simultaneously launched their autumn recruitment. It is understood that more than 80% of the positions in Alibaba's fall 2025 campus recruitment are technical, mainly focusing on research and development, algorithms, and computing. For example, in Alibaba Cloud, this autumn recruitment mainly focuses on technical R&D and algorithm positions, with nearly 1,000 people to be hired. In addition, the Alibaba Cloud Management Trainee Program and the Tao Tian T-star Talent Program will also start interviews during this autumn recruitment.
XPeng's New Robotic Hand Debuts, AI Robot Orders XPeng Mona
XPeng Motors Chairman and UCWeb founder He Xiaopeng released a video this morning showing himself using the Iron Assistant to operate a phone and order the MONA M03. He said that in the future, there may not only be "mouth substitutes" on the internet but also "hand substitutes" in real life. "The MONA M03 pre-orders have been very popular recently, and I let the Iron Assistant experience the pre-order process, which was quite smooth," He Xiaopeng said. The robotic hand is highly flexible and has tactile capabilities, and in the future, it could handle very fine tasks in industrial scenarios. He mentioned that XPeng's AI and large hardware advancements will be shared with everyone within this year.