Chinese Concept Stocks | JD.com Sees Strong 'Double 11' Sales Growth as NIO Falls 4.67% on Nasdaq

On October 31 (Thursday) Eastern Time, the three major U.S. stock indexes all closed lower. The S&P 500 index fell by 1.86% to close at 5705.45 points; the Dow Jones index dropped by 0.90% to 41763.46 points; and the Nasdaq index declined by 2.76% to 18095.15 points.

On October 31, the Nasdaq Golden Dragon China Index decreased by 1.30%.

Regarding popular Chinese stocks, JD.com rose by 1.47%, NIO fell by 4.67%, TSMC dropped by 2.02%, Baidu declined by 1.07%, XPeng Motors decreased by 1.01%, Alibaba fell by 0.78%, Bilibili dropped by 0.45%, NetEase decreased by 0.24%, and Pinduoduo fell by 0.23%.

Chinese stocks that have been rising continuously include MingTang with a recent increase of 2.77% over 10 days, resulting in an overall rise of 93.26%; LiChen China with a 0.55% increase over 9 days, totaling a 14.20% rise; Interstellar Fashion with a 1.32% increase over 7 days, totaling a 6.57% rise; JunChang Digital Technology with a 5.95% increase over 6 days, totaling a 56.87% rise; Zhongchi Car Service with a 9.79% increase over 5 days, totaling a 19.33% rise; and Tiger Tiger Technology with a 1.11% increase over 5 days, totaling a 21.01% rise.

Chinese stocks that have been declining continuously include MengYun Holography with a recent decrease of 12.63% over 12 days, resulting in an overall decline of 56.01%; Tan Doctor Holdings with a 12.66% decrease over 7 days, totaling a 38.39% decline; LakeShore Biopharma with a 9.69% decrease over 6 days, totaling a 26.27% decline; Together Education Technology with an 8.08% decrease over 6 days, totaling an 18.02% decline; and Nature's Medicine with a 3.66% decrease over 6 days, totaling a 26.74% decline.

Chinese Stocks News

JD.com's "Double 11" Report: Over 16,000 Brands' Transaction Volume Grew More Than Threefold Year-on-Year, Live Streaming Orders Increased by 245%
As of 9 PM on October 31, JD.com's "Double 11" transaction volume, order volume, and user numbers maintained double-digit growth. More than 16,000 brands saw their transaction volumes grow more than threefold year-on-year, with the number of brands surpassing one billion in transaction volume increasing by over 40% year-on-year. Over 17,000 merchants saw their order volumes grow by more than fivefold year-on-year. This year, JD.com's 11.11 billion-yuan subsidy products increased more than fourfold year-on-year, attracting a large number of users with truly low prices. New users in apparel and beauty sales increased by more than 140% year-on-year. JD Supermarket's order volume increased by more than 40% year-on-year, and sales of 3C digital products and home appliances reached new highs. JD Live's order volume increased by 245% year-on-year.

Li Auto: No Plans to Enter Western Europe or North American Markets
Li Auto's management stated in the 2024 Q3 earnings call that while the overseas market is very important, their strategy differs. Currently, Li Auto is selling in a limited number of markets, with the Middle East being a target market, and they do not plan to enter Western Europe or North America.

CICC: Over 80 Million WeChat Users Could Become Long-term Users of Taobao
CICC recently released a research report stating that Taobao has launched multiple initiatives to balance consumer experience and merchant operations, including lowering operational thresholds and costs for merchants, setting merchant rules and reward mechanisms around platform positioning, and introducing new user volumes for merchants. Notably, CICC cites QuestMobile data showing that over 80 million high-frequency e-commerce users among WeChat exclusive users, mainly from lower-tier cities and older demographics, are expected to become long-term user growth for Taobao, benefiting merchants.

JD.com: To Hold a Board Meeting on November 13 to Review Unaudited Quarterly Results for the Period Ended September 30, 2024
JD.com announced that its board of directors will hold a meeting on November 13, 2024, to review the unaudited quarterly results for the period ended September 30, 2024. The quarterly results announcement will be made on November 14, 2024, after trading hours on the Hong Kong Stock Exchange and before the U.S. market opens. The company management plans to hold a conference call at 8 PM on November 14, 2024, to discuss the quarterly financial results.

Li Auto: Q3 Revenue Reaches 42.9 Billion Yuan, a 23.6% Year-on-Year Increase
Li Auto released its 2024 Q3 financial report, showing total revenue of 42.9 billion yuan (6.1 billion USD), a 23.6% year-on-year increase. The quarterly delivery volume reached 152,800 vehicles, a 45.4% year-on-year increase. The net profit for Q3 2024 was 2.8 billion yuan (402 million USD), a 0.3% year-on-year increase. The adjusted net profit attributable to shareholders was 3.84 billion yuan, an 11% year-on-year increase.

Yuekang Pharmaceutical: Subsidiary YKYY15 Injection Approved by NMPA for Clinical Trials
Yuekang Pharmaceutical announced that its wholly-owned subsidiary Hangzhou Tianlong Pharmaceutical Co., Ltd. received clinical trial approval from the National Medical Products Administration (NMPA) for YKYY15 injection, intended to treat primary hypercholesterolemia or mixed dyslipidemia characterized by elevated LDL-C. The company will conduct Phase I clinical trials.

XPeng Motors: XPeng P7+ Scheduled to Launch on November 7
XPeng Motors announced that the launch event for XPeng P7+ is scheduled for November 7.

NIO Responds to "Establish Middle East Team": Middle East and North Africa Teams and UAE Local Team Established and Expanding
According to media reports, NIO has recently started secret recruitment in China for expanding its Middle East team. The positions include senior director and above, with a maximum level of assistant vice president (AVP). The required talents include fields such as vehicle manufacturing, three-electric systems, intelligent cockpit, and intelligent driving. NIO stated that its Middle East and North Africa team and UAE local team have been established and are expanding.

OpenAI's AI Self-developed Chip Cooperation with TSMC May Start at 3nm Process
According to reports, OpenAI, the developer of the chatbot ChatGPT, has abandoned its original plan to build its own wafer manufacturing plant and is collaborating with Broadcom to develop its first self-developed AI chip, with TSMC as the foundry. TSMC reiterated yesterday that it does not comment on such reports. Industry insiders anticipate that OpenAI's AI self-developed chip cooperation with TSMC will start with the 3nm process family and become a customer of TSMC's subsequent A16 process.

Zhihu's Direct Answer Launches Professional Search: Introduces Over 50 Million Documents, Supports Intelligent Document Parsing
Zhihu's AI search product Zhihu Direct Answer has officially launched its "Professional Search" function, introducing professional content sources such as VIP and Zhihu Selection, covering more than 50 million Chinese and English document data. The "Professional Search" supports document uploads and ultra-long document parsing, providing single-article intensive reading, specified source Q&A, and other features, better fitting the productivity scenarios of professionals. This feature's launch marks Zhihu Direct Answer as the first product in China to offer an integrated solution for AI search and legitimate paper library.