On August 30th (Friday), Eastern Time, the three major U.S. stock indexes collectively closed higher. The S&P 500 index rose by 1.01% to 5648.40 points; the Dow Jones index increased by 0.55% to 41563.08 points; and the Nasdaq index went up by 1.13% to 17713.63 points.
On August 30th, the Nasdaq Golden Dragon China Index rose by 1.20%. Regarding popular Chinese concept stocks, Pinduoduo increased by 2.88%, Alibaba rose by 2.84%, XPeng Motors grew by 2.54%, NIO went up by 2.54%, JD.com increased by 2.39%, TSMC rose by 1.53%, Bilibili grew by 1.05%, Baidu increased by 0.95%, and NetEase fell by 0.11%.
【Continuously Rising Chinese Concept Stocks】
Companies that have been continuously rising include Dashu Yung, which increased by 8.11% over 6 consecutive days, with a total rise of 116.67% during this period; Trip.com, which rose by 0.88% over 5 consecutive days, with a total increase of 11.76%; Zhongchi Chefu, which grew by 3.45% over 5 consecutive days; BAIYU Holdings, which increased by 7.78% over 5 consecutive days, with a total rise of 59.45%; and Aurora, which grew by 4.71% over 4 consecutive days, with a total increase of 14.94% during this period.
【Continuously Falling Chinese Concept Stocks】
Companies that have been continuously falling include Yunji, which decreased by 10.20% over 7 consecutive days, with a total fall of 35.20% during this period; Ucommune, which fell by 2.19% over 7 consecutive days, with a total decrease of 16.77%; Jiuzhi New Energy, which dropped by 3.47% over 6 consecutive days, with a total fall of 57.08%; MicroAlgo, which decreased by 7.44% over 6 consecutive days, with a total fall of 34.45%; and Suxuantang, which fell by 8.84% over 6 consecutive days, with a total decrease of 30.11% during this period.
【Chinese Concept Stocks News】
XPeng Huitian Establishes Strategic Partnership with Sichuan General Aviation Investment Management Co., Ltd.
According to XPeng Huitian, on August 29th, Sichuan General Aviation Investment Management Co., Ltd. established a strategic partnership with XPeng Huitian. The cooperation will cover flight testing, professional technical talent training for test flights of sports electric aircraft, demarcation of low-altitude visual airspace for testing, regional "flying car" exhibition and sales, driver training, business services, maintenance, and more. Sichuan General Aviation Investment Management Co., Ltd. was jointly initiated by Sichuan Airlines Group and Wuliangye Group.
Li Auto: Annual Investment in Training Computing Power Exceeds 1 Billion Yuan
The Chengdu International Auto Show officially opened. At the auto show, Li Auto stated that the iteration speed of intelligent driving is astonishing, with cumulative training mileage exceeding 2.2 billion kilometers and expected to surpass 3 billion kilometers by the end of the year. The current training computing power is 5.39 EFLOPS, and it is expected to exceed 8 EFLOPS by the end of 2024. Li Auto's annual investment in training computing power exceeds 1 billion yuan. "We believe that achieving full autonomous driving will require training computing power to reach 100 EFLOPS, equivalent to an annual investment of over 1 billion USD."
Alibaba Health: Zhu Shunyan to Transition from Executive Director to Non-Executive Director
On the evening of August 30th, Alibaba Health announced that its Executive Director Zhu Shunyan intends to devote more time to the group's overall strategic planning and industry development research and will transition from Executive Director to Non-Executive Director, effective September 1, 2024. After the transition, Zhu Shunyan will still serve as the Chairman of the Board and the Chairman of the Nomination Committee of the company.
Alibaba Announces Repurchase of 5.92 Million Shares on August 29th
Alibaba announced that on August 29th, it repurchased 5.92 million shares, costing approximately 59.97 million USD.
NIO: Cumulative Delivery of 300,000 Units for 6-Series SUV Models
NIO announced that the cumulative delivery of its "6-series" SUV models—ES6 and EC6—has reached 300,000 units. Among them, the NIO ES6 has a cumulative delivery of 220,877 units, and the NIO EC6 has a cumulative delivery of 79,123 units.
Taobao to Launch Return Shipping Fee Service, Going Live in Early September
Taobao will launch a service product aimed at the return shipping fee scenario, which merchants can directly purchase from the Taobao platform. In the new service model, the return shipping fee cost for merchants will be at least 10% lower than the original shipping insurance, with many merchants potentially enjoying costs as low as 50% or less compared to before. It is reported that since Taobao will directly provide the service to merchants, the platform will regularly offer guarantees for return shipping fee scenarios at a lower cost and can directly provide different degrees of discounts based on merchants' specific situations (such as new merchants, low-profit industries, small and medium-sized merchants), reducing the cost to an acceptable range for merchants. Merchant after-sales service costs will see a substantial reduction.
NIO Applies to Register Multiple Xiao Le GPT Trademarks
According to the Aiqicha App, recently, NIO Automobile Technology (Anhui) Co., Ltd. applied to register multiple "Xiao Le GPT" trademarks. The international classifications include advertising sales, communication services, construction repair, and education entertainment. The current status of these trademarks is awaiting substantive examination.
Market Supervision Administration Guides Alibaba Group to Complete Three-Year Rectification, Alibaba: This is a New Starting Point for Development
On the afternoon of August 30th, the State Administration for Market Regulation announced that Alibaba Group had completed a three-year rectification with good results. A response from Alibaba stated: "For Alibaba, this is a new starting point for development. In the future, we will continue to focus on innovation, adhere to compliant operations, increase investment in technology, promote the healthy development of the platform economy, and create more value for society."
Market Supervision Administration Guides Alibaba Group to Complete Three-Year Rectification
In April 2021, the State Administration for Market Regulation imposed administrative penalties on Alibaba Group Holding Co., Ltd. (Alibaba Group) for engaging in "choose one of two" monopolistic behavior in the Chinese online retail platform service market, ordered it to stop the illegal behavior, and conduct comprehensive self-examination and rectification, and submit self-examination compliance reports to the State Administration for Market Regulation for three consecutive years. Over the past three years, the State Administration for Market Regulation has strengthened supervision and guidance on Alibaba Group's compliance rectification, conducted in-depth inspections of the rectification implementation, and commissioned third-party institutions to evaluate the enforcement effects. From the inspection and evaluation results, Alibaba Group has fully stopped the "choose one of two" monopolistic behavior, strictly regulated its business conduct, earnestly fulfilled its platform responsibilities, improved its enterprise compliance management system, enhanced the service level for merchants and consumers on the platform, achieved good results in compliance rectification, improved the network retail market environment, restored fair competition order, expanded market development space, significantly increased platform competition vitality, and continuously optimized the quality of platform economic development and business environment. Next, the State Administration for Market Regulation will guide Alibaba Group to continue to operate in compliance, further enhance compliance effectiveness, accelerate innovation-driven development, continuously improve the service level, and provide solid support for building a world-class enterprise and enhancing international competitiveness.
Little Genius Issues Rectification Announcement: Third-Party Software Xiaodu App Removed from App Store
On August 30th, Little Genius's official Weibo account issued an announcement stating that the company recently received complaints about inappropriate answers related to the third-party software Xiaodu App in the Little Genius product app store. In response to user feedback, the app was immediately removed. Currently, the Xiaodu App is still under rectification, and it will not be available until the rectification is completed. The company will conduct a comprehensive and strict inspection of all products containing app stores and further strengthen the multi-level review mechanism and inspection mechanism for third-party applications before they go live.
Tongyi Qianwen Launches Most Powerful Visual Understanding Model Qwen2-VL-72B, API Now Available on Alibaba Cloud
On August 30th, Alibaba Tongyi Qianwen released the second-generation visual language model Qwen2-VL, and the flagship model Qwen2-VL-72B's API is now available on the Alibaba Cloud Bailian platform. It is reported that Qwen2-VL has set new records in multiple authoritative evaluations for multi-modal models, surpassing closed-source models like GPT-4o and Claude 3.5-Sonnet in some metrics.
NetEase and Other Major Game Companies Consider Reducing Investment in Japanese Studios, Company Responds
According to reports, Tencent and NetEase are considering or reducing their investments in Japanese studios because years of investment have "almost" not resulted in any popular games. Sources indicate that NetEase has laid off all employees at its Tokyo Sakura Studio, retaining only a few positions. A reporter called NetEase's investor hotline as an investor, and relevant staff stated that the company will adjust its overseas market layout based on real-time local dynamics, which is very normal in overall business operations. NetEase's attention to the Japanese market remains the same as before, and many studios' projects are still steadily under development.
NIO Applies to Register "Xiao Le GPT" Trademarks
According to Tianyancha's intellectual property information, NIO Automobile Technology Co., Ltd. recently applied to register four "Xiao Le GPT" trademarks, covering international classifications such as advertising sales, communication services, construction repair, and education entertainment. Currently, the examination status of these trademarks is awaiting substantive review.
Tencent and NetEase are Reducing or Reconsidering Their Investments in Japanese Studios
Tencent and NetEase are reducing or reconsidering their investments in Japanese studios because years of investment have resulted in almost no popular games.