Chinese Concept Stocks | Nasdaq China Dragon Index Rises 3.50% Amid Mixed Performance of Popular Stocks
AInvestFriday, Nov 8, 2024 5:31 pm ET
4min read
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On November 8th, Eastern Time (Friday), the three major U.S. stock indices collectively closed higher. The S&P 500 index rose by 0.38%, closing at 5995.54 points; the Dow Jones index increased by 0.59%, closing at 43988.99 points; and the Nasdaq index went up by 0.09%, closing at 19286.78 points.

On November 7th, the Nasdaq Golden Dragon China Index rose by 3.50%.

Regarding popular Chinese concept stocks, XPeng Motors increased by 1.90%, TSMC increased by 0.01%, JD.com dropped by 6.99%, Pinduoduo fell by 6.40%, Bilibili decreased by 6.38%, Alibaba fell by 5.95%, NetEase decreased by 5.42%, Baidu dropped by 4.88%, and NIO declined by 4.14%.

For Chinese concept stocks on a rising streak: Distoken rose by 0.36% over 8 consecutive days with a cumulative increase of 1.28%. Zhongchi Chuangfu increased by 55.83% over 7 days with a cumulative rise of 80.14%. MKDWELL Tech rose by 2.63% over 6 days with a cumulative increase of 28.15%. Boqi Pet increased by 1.21% over 6 days with a cumulative rise of 26.52%. Conglian Group rose by 0.25% over 4 days with a cumulative increase of 1.77%. Luobei rose by 2.01% over 4 days with a cumulative rise of 5.83%. Metaverse Holdings increased by 0.82% over 4 days with a cumulative rise of 10.21%.

For Chinese concept stocks on a declining streak: Huapu Group dropped by 6.96% over 5 consecutive days with a cumulative decline of 31.78%. Huaxin Technology decreased by 3.67% over 5 days with a cumulative drop of 33.12%. Fresh2 Group fell by 1.47% over 5 days with a cumulative decline of 34.80%. Shengda Technology decreased by 3.98% over 4 days with a cumulative drop of 10.46%. Kaixin Yuanda fell by 2.48% over 4 days with a cumulative decline of 10.66%. Leiya Electronics decreased by 5.69% over 4 days with a cumulative drop of 31.76%.

TSMC's Response to Chip "Supply Halt" Rumors: No Comment, Company Strictly Complies with Export Control Regulations
On the afternoon of November 8th, in response to online rumors of a "supply halt," TSMC stated that it has no comment on rumors and that the company strictly adheres to all applicable laws and regulations, including export control regulations. Previously, multiple sources reported that TSMC had notified all its AI/GPU customers in mainland China via email that it would cease supplying chips with 7nm or more advanced process technology starting from November 11th.

NetEase's Latest Response: Rumors of Money Laundering Are Fabrications, Reported to Police
On November 8th, in response to recent rumors about an anti-corruption investigation within NetEase Games, NetEase's public relations department stated that the company has never ceased its anti-corruption efforts. As the case is still under investigation, specific information cannot be disclosed at this time. NetEase has reported the money laundering rumors to the police and urged people not to spread or believe in rumors.

Baidu and Others Invest in AI Design Company Shuimu Intelligence
According to Tianyancha App, on November 5th, Hangzhou Shuimu Intelligence Technology Co., Ltd. underwent a business change, adding HSGSeedIIHoldcoU, Ltd. and Beijing Baidu Netcom Science & Technology Co., Ltd. as shareholders. The registered capital increased from approximately 7.4806 million RMB to about 7.5685 million RMB, and several key personnel were changed. The company, established in November 2020, provides services such as AI public service platform technology consulting, information consulting, cultural exchange activities, goods and technology import/export, and online sales. It is now jointly held by Beijing Luokou Technology Co., Ltd., Weixuan Co., Ltd., Welight Capital L.P., and the newly added shareholders.

TSMC's October Sales Reach NT$314.24 Billion, a Year-on-Year Increase of 29.2%
TSMC's October sales reached NT$314.24 billion, a year-on-year increase of 29.2%.

NetEase Officially Reports Multiple Employees Suspected of Corruption, 27 External Companies Blacklisted
In response to recent corruption allegations involving NetEase Games, in the early hours of November 8th, NetEase's public relations personnel responded via WeChat Moments. NetEase Games also issued an internal announcement regarding the anti-corruption investigation, stating that several employees were suspected of corruption and have been criminally investigated by public security authorities. The announcement mentioned that 27 companies related to this corruption case have been blacklisted by NetEase.

XPeng P7+ "Aggressive" Pricing, He Xiaopeng Claims "There Is Still Profit Space"
XPeng Motors Chairman and CEO He Xiaopeng stated that despite the crash of the official website's server, XPeng P7+ received over 10,000 large orders within 12 minutes, setting a new record for XPeng Motors. He mentioned that even with the "aggressive" pricing of XPeng P7+, there is still profit space, although minimal. XPeng P7+ was launched on the evening of November 7th, with three versions released: Long Range Max, Ultra Long Range Max, and Limited Edition Max, priced between 186,800 to 218,800 RMB, with the starting price reduced by 23,000 RMB compared to the pre-sale price.

Xiaodu to Launch New AI Hardware Product on November 12th
On November 12th, Xiaodu will launch a "new species of AI" at the Baidu World Conference. This new product release will be another exploration in the AI+ hardware field by Xiaodu. All Xiaodu products are equipped with large model capabilities, showing significant improvements in understanding, generation, memory, etc. For example, the number of multi-turn interactions between Xiaodu and users in AI chat has increased by 7 times.

NetEase Internal Email Reports Executive Corruption, 9 People Under Criminal Coercive Measures
On the morning of November 8th, NetEase Group internally released an email in response to the "NetEase Games Executive Corruption Scandal" from the previous day. The email stated that the company has seriously investigated two corruption cases: 1. Former leaders of the Battle Division and KK Division, as well as several employees from various departments, were suspected of corruption during their tenure and have been criminally investigated by public security authorities. Their labor contracts have been terminated, and they are blacklisted from future employment. 2. Employees from the Battle Division were also suspected of corruption and have been criminally investigated. Their labor contracts have been terminated, and they are blacklisted from future employment. 3. Several external individuals involved in the case have also been subjected to criminal coercive measures by public security authorities. 4. 27 companies related to the corruption cases have been blacklisted by NetEase.

XPeng P7+ Orders Surpass 30,000
As of 24:00 on November 7th, the XPeng P7+ received 31,528 large orders. XPeng Motors Chairman and CEO He Xiaopeng stated that this is just a preliminary result, and XPeng will strive to ensure quality and delivery.

Trip.com: Orders for Northern Ski Hotels in Winter Increase by 22% Year-on-Year
As winter approaches, ice and snow travel has become a popular vacation choice. According to the latest data from Trip.com, orders for northern ski hotels this winter (November to January) have increased by 22% compared to the same period last year, showing strong growth in the ice and snow tourism market. Specifically, ski hotel bookings in Hebei and Xinjiang have increased by over 70% year-on-year, while Heilongjiang has maintained a 34% growth, reaching a new high. Additionally, ski resort hotel orders in cities such as Baishan, Jilin, and Zhangjiakou are also high, with Beijing, Hangzhou, Shanghai, Suzhou, and Guangzhou being popular ice and snow tourist sources.

Baidu Reportedly Set to Launch Smart Glasses with Built-in AI Assistant
Baidu is reportedly planning to launch a pair of smart glasses with a built-in AI assistant.

NetEase Responds to Anti-Corruption Investigation Rumors: Case Still Under Investigation, Money Laundering Rumors Are Fabrications
In response to recent rumors about an anti-corruption investigation within NetEase Games, NetEase's public relations department stated that the company has never ceased its anti-corruption efforts. As the case is still under investigation, specific information cannot be disclosed at this time. NetEase has reported the money laundering rumors to the police.

Disclaimer: the above is a summary showing certain market information. AInvest is not responsible for any data errors, omissions or other information that may be displayed incorrectly as the data is derived from a third party source. Communications displaying market prices, data and other information available in this post are meant for informational purposes only and are not intended as an offer or solicitation for the purchase or sale of any security. Please do your own research when investing. All investments involve risk and the past performance of a security, or financial product does not guarantee future results or returns. Keep in mind that while diversification may help spread risk, it does not assure a profit, or protect against loss in a down market.