Chinese Concept Stocks | Nasdaq Golden Dragon China Index Drops 3.95% Amid Broad Declines in Key Stocks

On August 20 (Tuesday) Eastern Time, the three major U.S. stock indexes collectively closed down. The S&P 500 index fell 0.20% to 5597.12 points; the Dow Jones index fell 0.15% to 40834.97 points; the Nasdaq index fell 0.33% to 17816.94 points.

On August 20, the Nasdaq Golden Dragon China Index fell 3.95%.

Among popular Chinese concept stocks, XPeng Motors fell 5.97%, NIO fell 5.28%, JD.com fell 4.57%, Pinduoduo fell 4.56%, Alibaba fell 3.43%, NetEase fell 2.52%, Bilibili fell 2.52%, Baidu fell 2.44%, and TSMC fell 1.89%.

【Chinese Stocks with Consecutive Gains】
Companies that saw consecutive gains include Youjia Insurance with a latest change of 24.68% over 10 days, accumulating to 323.41%; Zhenkunhang with a latest change of 1.39% over 10 days, accumulating to 39.31%; Austin Technology with a latest change of 2.86% over 6 days, accumulating to 28.57%; BAIYU Holdings with a latest change of 42.86% over 5 days, accumulating to 110.53%; Xunlei with a latest change of 0.06% over 5 days, accumulating to 5.66%; Gulf Resources with a latest change of 2.80% over 5 days, accumulating to 4.76%; DayDayCook with a latest change of 0.47% over 5 days, accumulating to 8.00%; and Boqii Pet with a latest change of 6.35% over 5 days, accumulating to 22.71%.

【Chinese Stocks with Consecutive Losses】
Companies that saw consecutive losses include Huya with a latest change of -3.20% over 5 days, accumulating to -16.90%; SOS with a latest change of -0.94% over 5 days, accumulating to -6.12%; Yueda Holdings with a latest change of -1.22% over 5 days, accumulating to -5.46%; Fanhua Financial with a latest change of -5.00% over 4 days, accumulating to -11.58%; Jiuzixing with a latest change of -0.44% over 4 days, accumulating to -29.06%; and Mingda Jiayuan with a latest change of -2.63% over 4 days, accumulating to -11.27%.

【Chinese Concept Stock News】

ZTO Express Q2 Adjusted EPS at 3.38 RMB per ADS
ZTO Express reported Q2 adjusted EPS at 3.38 RMB per ADS, beating analysts' expectation of 3.30 RMB. Q2 revenue reached 10.73 billion RMB, also surpassing analysts' expectation of 10.71 billion RMB. Q2 adjusted EBITDA was 4.34 billion RMB, exceeding the expected 4.30 billion RMB. The company maintained its full-year package volume forecast between 34.73 billion and 35.64 billion, with analysts expecting 35.12 billion. The 2024 business growth guidance remains at 15%-18%.

Dada Q2 Total Net Revenue at 2.3499 Billion RMB
Dada reported Q2 total net revenue at 2.3499 billion RMB, surpassing analysts' expectation of 2.28 billion RMB but lower than the 2.5968 billion RMB of the same period in 2023. Kevin Qing Guo will replace Ian Su Shan as the company's Chairman of the Board. Interim President Bing Fu has resigned. Dada ADR fell 1.5% in after-hours trading.

Walmart Plans to Sell JD.com Shares Worth $3.74 Billion
Walmart plans to sell JD.com's shares at a price range of $24.85 to $25.85 per share, aiming to sell 144.5 million shares, potentially raising $3.74 billion at the highest price. Walmart is JD.com's largest shareholder. JD.com closed at $28.19 per share on Tuesday and fell about 10% in after-hours trading. Both companies declined to comment.

XPeng Motors Chairman He Xiaopeng: Q3 Delivery Guidance is 41,000-45,000 Units
XPeng Motors Chairman He Xiaopeng stated in the earnings call that the total delivery for Q3 is expected to be around 41,000 to 45,000 units, a quarter-over-quarter increase of 35.7%-49%. Sales revenue is expected to reach 9.1 billion to 9.8 billion RMB, a quarter-over-quarter increase of 12.2%-20.8%. He emphasized the strategic changes over the past two years that have significantly enhanced XPeng's competitiveness, entering a phase of rapid growth.

He Xiaopeng: P7+ to Launch in Q4, First Model with New Generation Autonomous Driving Hardware Platform
XPeng Motors Chairman He Xiaopeng announced that XPeng will officially launch the new generation sedan P7+ in Q4. P7+ will be the first model with XPeng's new generation autonomous driving hardware platform, showcasing significant technological and cost advantages. He mentioned that the completion of delivery ramp-ups for MONAM03 and P7+ will significantly expand XPeng's market share.

Futu Holdings Q2 Total Revenue Up 25.9% YoY, Net Profit Up 8.6% YoY
Futu Holdings reported its Q2 2024 performance. The data shows that Q2 total revenue was 3.129 billion HKD (approximately $401 million), up 25.9% year-over-year. Non-GAAP net profit was 1.296 billion HKD (approximately $166 million), up 8.6% year-over-year.

XPeng Motors Q2 Revenue at 8.11 Billion RMB, Estimate 8.12 Billion RMB
XPeng Motors announced Q2 revenue at 8.11 billion RMB, close to the estimated 8.12 billion RMB. Adjusted loss per share for Q2 was 0.65 RMB. XPeng expects Q3 revenue to be between 9.1 billion and 9.8 billion RMB.

XPeng Motors Expects Q3 Vehicle Deliveries Between 41,000 and 45,000 Units
XPeng Motors expects Q3 vehicle deliveries to be between 41,000 and 45,000 units.

Black Myth: Wukong Released, Idle Fish PS5 Transactions Hit Annual High
According to reports, "Black Myth: Wukong" was released today, causing a surge of users on Idle Fish to buy PS5s. Local rentals are booming, and transaction volumes have reached a new high for the year. Idle Fish market data shows that in the past 7 days, PS5 prices ranged from 1399 RMB to 2750 RMB, with an average transaction price of 2300 RMB. Most listings include descriptions mentioning "Playable Black Myth." Idle Fish staff stated that since August, PS5 searches on the platform have increased by over 300%, with transaction volumes hitting a new high for the year.

NIO Officially Launches Power-Up County Plan, Comprising Charging and Battery Swap County
NIO officially launched the Power-Up County plan, comprising charging and battery swap counties. By June 30 next year, the plan aims to cover all county-level administrative regions nationwide with charging piles.

NIO to Achieve "Charging County" by 2025
At the NIO Energy Day, NIO director Li Bin announced that by June 30, 2025, NIO will complete "Charging County" across all provincial administrative regions except Hong Kong and Taiwan, ensuring each county has NIO charging piles.

2024 Baidu Cloud Intelligence Conference to be Held on September 25-26
The 2024 Baidu Cloud Intelligence Conference will be held on September 25-26 at the Zhongguancun International Innovation Center in Beijing. The conference will focus on the theme "Intelligence·Leap," featuring the latest releases of multiple cloud and AI products including infrastructure, large models, development toolchains, and AI-native applications.

Li Auto Denies Cooperation with Yishide
On August 20, responding to the rumors about "Li Auto's statement with Yishide," Li Auto clarified that it has never engaged in any business discussions or cooperation with Yishide. Li Auto had already issued an official legal statement on July 12 to clarify the facts. Li Auto will take legal measures against the false rumors spread by Yishide.

Yuhui Tongxing Registers Official Website Domain
Tianyancha intellectual property information shows that recently, Yuhui Tongxing (Beijing) Technology Co., Ltd. added a new website registration information with the domain "yuhuitongxing.com," with the review date on August 16. Currently, the website is temporarily inaccessible. Yuhui Tongxing (Beijing) Technology Co., Ltd. was established in December 2023, with Dong Yuhui as the legal representative, executive director, and manager, holding a registered capital of 10 million RMB and fully owned by Dong Yuhui. Previously, New Oriental announced the separation of Yuhui Tongxing from Oriental Selection, drawing widespread attention. Shortly after, the company's shareholder changed from Beijing New Oriental Xuncheng Network Technology Co., Ltd. to Dong Yuhui.