Chinese Concept Stocks | Huya Announces New Acting Co-CEO and CFO Amid Broader Market Movements
3min read On September 4 (Wednesday), Eastern Time, the three major U.S. stock indexes fluctuated. The S&P 500 Index fell by 0.16% to close at 5520.07 points; the Dow Jones Index rose by 0.09% to close at 40974.97 points; and the Nasdaq Index dropped by 0.30% to close at 17084.30 points.
On September 4, the Nasdaq Golden Dragon China Index fell by 0.07%. In terms of popular Chinese stocks, Bilibili rose by 2.88%, NIO increased by 2.05%, NetEase went up by 2.00%, XPeng Motors climbed by 0.84%, JD.com grew by 0.49%, Alibaba rose by 0.22%, TSMC increased by 0.19%, Pinduoduo fell by 5.12%, and Baidu dropped by 1.24%.
Rising Chinese Stocks
Best Group rose by 0.18% over 11 consecutive days, gaining a total of 1.10%. Dtree Cloud rose by 3.89% over 8 consecutive days, gaining a total of 150.00%. Trip.com Group rose by 0.08% over 7 consecutive days, gaining a total of 12.30%. Aurora Mobile rose by 1.90% over 6 consecutive days, gaining a total of 23.56%. WorkMed rose by 19.97% over 5 consecutive days, gaining a total of 114.45%.
Falling Chinese Stocks
Energy Monster fell by 1.61% over 7 consecutive days, losing a total of 17.34%. Fanhua Holdings Group fell by 4.00% over 6 consecutive days, losing a total of 14.89%. 111, Inc. fell by 0.73% over 6 consecutive days, losing a total of 28.42%. Burning Rock Biotech fell by 5.00% over 6 consecutive days, losing a total of 20.83%. Huize Insurance fell by 3.94% over 6 consecutive days, losing a total of 48.09%. MingTang fell by 2.99% over 6 consecutive days, losing a total of 26.48%.
Chinese Stock News
Huya Announces Management Changes
Huya announced today that its board of directors has appointed Mr. Lei Peng as the company's acting co-CEO and CFO, effective September 5, 2024. Mr. Lei Peng will replace Ms. Xin Wu as acting co-CEO and will share the CEO responsibilities with Mr. Junhong Huang, the company's director, acting co-CEO, and senior vice president. After Mr. Lei's appointment, Ms. Xin Wu will continue to serve as the company's vice president of finance.
Autohome: Company Can Repurchase Up to $200 Million Worth of Shares Within the Next 12 Months
Autohome announced that its board of directors has approved a new share repurchase plan, effective from September 4, 2024. Under the new plan, the company can repurchase up to $200 million worth of shares (including American Depositary Shares) within the next 12 months.
Xianyu Web Version Relaunches, Daily Active Users Triple
Xianyu announced the relaunch of its web version, with daily active users tripling. According to the official introduction, the web version has added a distance filter function to the search page, and users can now insert emojis in product descriptions, making content more intuitive and posts more interesting. Xianyu staff revealed that features such as web payment and product management, which users are concerned about, will be gradually improved and launched.
Taobao Plans to Fully Introduce WeChat Pay? WeChat Pay Responds
On September 4, it was reported that Taobao plans to fully introduce WeChat Pay. In response, WeChat Pay stated that the feature adaptation with Taobao platform merchants is currently being opened, and the specific launch time will be announced on the Taobao platform.
Alibaba Reduces Stake in Cloud Music from 5.19% to 4.91%
Alibaba has reduced its stake in Cloud Music from 5.19% to 4.91%.
Alipay Responds to Taobao Fully Supporting WeChat Pay: Openness, Collaboration, Innovation, and Sharing Are the Trends
On September 4, Taobao announced that it plans to add WeChat Pay functionality. As the current main payment service provider for Taobao, Alipay stated that openness, collaboration, innovation, and sharing are the basic spirit of the internet and the trends of industry development. Alipay will continue to deepen strategic cooperation with Tao Tian Group, increase technological and product innovation, and continuously create greater value for merchants and consumers. Alipay also stated that openness creates a bigger future, and it will increase open cooperation in internet technology, AI technology products, and a broader ecosystem to promote the vitality and prosperity of the digital economy, and open up larger commercial space for the Alipay platform.
WeChat Pay Responds to Interoperability with Taobao: Feature Adaptation with Taobao Platform Merchants Is Being Opened
Regarding Taobao's upcoming full support for WeChat Pay, WeChat Pay stated that the feature adaptation with Taobao platform merchants is currently being opened, and the specific launch time will be announced on the Taobao platform. WeChat Pay always adheres to an open cooperation philosophy and actively explores interoperability with various fields.
Taobao to Fully Support WeChat Pay
According to informed sources, the Taobao App will soon fully support WeChat Pay. As of 1:00 PM on September 4, reporters noticed that WeChat Pay has not yet appeared on the Taobao App. Taobao's official customer service also stated that WeChat Pay is still in the trial phase and has not been fully opened. Whether users can use it for orders depends on the payment page.
Trip.com: Nearly Half of Mid-Autumn Festival Orders Are for Local Trips
With the Mid-Autumn Festival approaching, the tourism market is expected to see a small peak. Compared to the recently concluded summer vacation, the cost-effectiveness of traveling during this year's Mid-Autumn Festival is relatively high. According to data from Trip.com's market insight platform FlightAI, the average one-way domestic airfare during the Mid-Autumn Festival, including taxes, is about 770 yuan, down approximately 25% compared to the same period last year and the first three days of National Day. Trip.com data shows that as of now, nearly half of the Mid-Autumn Festival travel orders are for local trips, higher than the previous short holiday during the Dragon Boat Festival.