Chinese Concept Stocks | Nasdaq Golden Dragon China Index Drops 2.13% Amid Broad Losses in Key Stocks

On August 14th, Eastern Time (Thursday), the three major U.S. stock indices showed mixed trends. The S&P 500 index rose by 0.03% to 6468.54 points; the Dow Jones index fell by 0.02% to 44911.26 points; and the Nasdaq index fell by 0.01% to 21710.67 points.

On August 14th, the Nasdaq Golden Dragon China Index fell by 2.13%.

Among popular Chinese concept stocks, Xpeng Motors fell by 3.97%, NetEase fell by 3.88%, NIO fell by 3.68%, Alibaba fell by 3.64%, JD.com fell by 2.86%, Baidu fell by 2.57%, Bilibili fell by 2.26%, Pinduoduo fell by 1.62%, and TSMC fell by 0.18%.

In terms of continuously rising Chinese concept stocks, Bright Scholar Education Holdings Limited saw a recent change of 2.35% after an 8-day rise, with an overall rise of 2.35% during this period. Aurora Mobile Limited had a recent change of 2.22% after a 6-day rise, with an overall rise of 9.00%. Gracell Biotechnologies Inc. experienced a recent change of 1.90% after a 6-day rise, with an overall rise of 6.10%. Youdao, Inc. had a recent change of 9.91% after a 5-day rise, with an overall rise of 11.54%. Huami Corporation recorded a recent change of 1.01% after a 5-day rise, with an overall rise of 44.49%. CooTek (Cayman) Inc. saw a recent change of 6.01% after a 5-day rise, with an overall rise of 31.97%. Austin Technology had a recent change of 8.78% after a 5-day rise, with an overall rise of 52.74%.

For continuously declining Chinese concept stocks, Yishengxin saw a recent decline of 4.39% after an 8-day drop, with an overall decline of 37.18%. Next Technology experienced a recent decline of 9.93% after a 7-day drop, with an overall decline of 34.87%. Chasing Technology recorded a recent decline of 19.33% after a 7-day drop, with an overall decline of 79.49%. Star International saw a recent decline of 7.41% after a 5-day drop, with an overall decline of 13.19%. Luobei had a recent decline of 3.10% after a 5-day drop, with an overall decline of 18.96%.

Hedge fund Alkeon Capital Management LLC established a position in Alibaba and increased its holdings in New Oriental in the second quarter, while reducing its positions in Beike and JD.com.

Oaktree Capital Management LP's 13F filing shows that the hedge fund cleared its holdings in six Chinese concept stocks, including Bilibili, JD.com, and Baidu, while establishing a position in Full Truck Alliance and increasing its holdings in Kanzhun and Beike.

Temasek Holdings' 13F filing shows that the Singapore sovereign wealth fund reduced its holdings in JD.com, Alibaba, and NetEase in the second quarter, cleared its position in Amer Sports, established a position in Beike and Xpeng, and increased its holdings in Pinduoduo and KraneShares CSI China Internet ETF.

According to the official announcement on the Shanghai Stock Exchange website, the CICC Vipshop Outlet Closed-end Infrastructure REIT (referred to as "CICC Vipshop Outlet REIT") will be officially launched for sale on August 20, 2025. The total fundraising shares of the CICC Vipshop Outlet REIT amount to 1 billion, with a subscription price of 3.48 yuan per share, and an estimated total fundraising amount of 34.8 billion yuan. The CICC Vipshop Outlet REIT will be offered through a combination of strategic placement, offline offering, and public offering. The initial strategic placement shares are 700 million; the initial offline offering shares are 210 million; and the initial public offering shares are 90 million. The final offline offering shares and public offering shares will be determined based on the clawback situation (if any).

JD Health announced that its number of annual active users exceeded 200 million, setting a new high. In the first half of 2025, JD Health's total revenue was 35.3 billion yuan, a year-on-year increase of 24.5%. Non-IFRS net profit reached 3.57 billion yuan, a year-on-year increase of 35%. As of June 30, 2025, JD Health's annual active user count in the past 12 months exceeded 200 million, with increasing brand recognition and trust among users.

JD Group announced that in the second quarter of 2025, its revenue was 356.7 billion yuan, a year-on-year increase of 22.4%. Net profit attributable to ordinary shareholders of the company was 6.2 billion yuan, compared to 12.6 billion yuan in the same period in 2024. Under non-GAAP, net profit attributable to ordinary shareholders was 7.4 billion yuan, compared to 14.5 billion yuan in the same period in 2024.

NetEase announced that its net revenue for the second quarter of 2025 was 27.9 billion yuan, a year-on-year increase of 9.4%. Among them, net revenue from games and related value-added services was 22.8 billion yuan, a year-on-year increase of 13.7%. Net profit attributable to shareholders of the company was 8.6 billion yuan. Under non-GAAP, net profit attributable to shareholders of the company was 9.5 billion yuan.

JD Logistics announced that for the six months ended June 30, 2025, its total revenue was 98.532 billion yuan, a year-on-year increase of 14.1%. The non-IFRS profit for the period was 3.339 billion yuan, a year-on-year increase of 7.1%.

NetEase announced that its quarterly revenue was 27.9 billion yuan, a year-on-year increase of 9.4%, with a non-GAAP net profit of 9.5 billion yuan.

NetEase Cloud Music announced that for the six months ended June 30, 2025, its revenue was 3.827 billion yuan, a year-on-year decline of 6.0%. Gross profit was 1.392 billion yuan, a year-on-year decline of 2.3%; operating profit was 845 million yuan, a year-on-year increase of 40.8%; profit before income tax was 1.068 billion yuan, a year-on-year increase of 31.3%; profit for the period was 1.882 billion yuan, a year-on-year increase of 132.4%.

It is reported that Taotian Group has been internally renamed as the China E-commerce Business Group - Taotian Group, operating in parallel with Ele.me and Fliggy.

Xpeng Motors recently posted a job opening for a RISC-V architecture IP design engineer on its official website. Market opinions suggest that this move indicates Xpeng Motors' formal entry into the development of RISC-V smart driving chips. Xpeng Motors responded that this is a "recruitment position based on normal business needs."

After cities like Wuhan, Hefei, Nanjing, and Beijing, Shanghai Lianjia and Beike also officially hid the historical transaction prices of all second-hand houses in Shanghai. A Lianjia intermediary stated that all transaction information can still be queried in the agent's backend. Industry insiders believe that the move to hide second-hand house transaction prices has both advantages and disadvantages. On one hand, transaction prices affect price negotiations between owners and buyers, and when market prices fall, the "buy up, not buy down" mentality of buyers may prolong the trading cycle and efficiency. On the other hand, not displaying second-hand house transaction prices increases the risk of information asymmetry for both buyers and sellers, making it difficult to obtain real transaction price references in price negotiations, and they can only rely on intermediary-provided "internal data," which may weaken bargaining power.

NIO announced that the new ES8 will be released on August 21.

According to reports, Li Auto's sales system underwent a new round of adjustments. The "five major war zones" system, which was implemented for less than half a year, will be withdrawn, and the province-direct management system will be reintroduced. Han Xi, the head of the Central Zone, will be reassigned to the position of retail head. In addition, Li Auto has established two new first-level departments to provide more support for the sales system. One is marketing, headed by Feng Wei; the other is sales and service operations, which mainly coordinates various departments of sales and service to ensure high-quality achievement of sales and service goals, headed by Ma Donghui. Rumors online suggest that "Li Xiang himself returned to the sales system," but it is understood that the adjusted Li Auto sales service system is still managed by Ma Donghui.