Chinese Concept Stocks | Nasdaq Golden Dragon Index Down 0.61% Amid Mixed Performance of Chinese Stocks

On March 31st, Eastern Standard Time (Monday), the three major U.S. stock indices showed mixed performance. The S&P 500 index rose by 0.55% to 5611.85 points; the Dow Jones index increased by 1.00% to 42001.76 points; the Nasdaq index dropped by 0.14% to 17299.29 points.

On March 31st, the Nasdaq Golden Dragon China Index fell by 0.61%.

Regarding popular Chinese stocks, XPeng Motors rose by 5.25%, NetEase increased by 2.18%, NIO went up by 1.47%, TSMC rose by 0.44%, Pinduoduo fell by 1.74%, Baidu decreased by 1.44%, JD.com dropped by 1.11%, Bilibili fell by 0.57%, and Alibaba decreased by 0.18%.

In terms of continuous rising Chinese stocks, LightInTheBox saw an increase of 43.27% over 7 consecutive days with a cumulative rise of 96.08%. UTStarcom increased by 4.17% over 7 days with a cumulative rise of 4.17%. Jiayuan.com rose by 5.78% over 5 days with a cumulative rise of 57.58%. Qutoutiao increased by 17.54% over 5 days with a cumulative rise of 48.89%. Four Seasons Education rose by 2.14% over 5 days with a cumulative rise of 10.19%.

Regarding continuous falling Chinese stocks, Enjoy Holdings dropped by 1.12% over 9 consecutive days with a cumulative fall of 28.11%. JinkoSolar fell by 4.85% over 8 days with a cumulative decrease of 21.55%. Raytheon Energy decreased by 10.58% over 8 days with a cumulative drop of 64.16%. Burning Rock Biotech fell by 0.44% over 7 days with a cumulative decrease of 21.88%. Inlyft decreased by 2.67% over 7 days with a cumulative drop of 36.24%. EHang fell by 5.28% over 7 days with a cumulative decrease of 20.14%.

DingTalk founder and former CEO Chen Hang (alias: Wuzhao) will return to lead DingTalk. Chen Hang left Alibaba in 2021 and later founded Deuterium-Hydrogen-Oxygen (Hangzhou) Digital Technology Co., Ltd. It is reported that Alibaba Group intends to acquire shares of Deuterium-Hydrogen-Oxygen from its investors. Upon completion of the transaction, Chen Hang will become DingTalk's CEO.

Information from the Hong Kong Stock Exchange shows that BlackRock's holding in Alibaba-W decreased from 5.02% to 4.96% as of March 26th.

Multiple independent sources reveal that Li Auto's sales target for this year is 700,000 units, with a pure electric vehicle sales expectation of 50,000 units. The expectation given to the supply chain is to sell at least 140,000 units, implying that the planned target for extended-range vehicle sales is between 560,000 and 650,000 units, with an average monthly sales target of 46,700 to 54,100 units.

Nanjing University and Alibaba Cloud announced the launch of a cooperative plan to cultivate AI talent. The plan aims to nurture AI innovators with interdisciplinary thinking who are adapted to future technological changes. Through the "Cloud Gong Kai Wu" program, Alibaba Cloud will provide all students at Nanjing University with free cloud computing and AI resources to support AI teaching and practice activities. It will also offer each faculty member exclusive computing power discounts to accelerate research innovations on the cloud. Additionally, both parties will jointly conduct a series of academic exchanges, results matching, and other activities to promote the transformation of scientific and technological achievements in universities.

Tianyancha App indicates that Shanghai Chaowei Wuji Electronics Technology Co., Ltd. recently underwent an industrial and commercial change, adding Ant Group's Shanghai Yunyan Enterprise Management Consulting Co., Ltd., Shanghai Fengrui Ruijia Investment Center (Limited Partnership), Xiamen Sequoia Yahang Equity Investment Partnership (Limited Partnership), and Yangzhou Fenglin Equity Investment Partnership (Limited Partnership) as shareholders. The registered capital increased from 1 million yuan to approximately 1.33 million yuan, and some executives were changed. Established in December 2024, Shanghai Chaowei Wuji Electronics Technology Co., Ltd. is led by its legal representative, Nai Lifeng. Its business scope includes the development of AI basic software, AI theory and algorithm software, AI application software, software sales, computer hardware and software retail, and network and information security software development. The company's shareholders now include Nai Lifeng, Shanghai Lingjie Zhilan Enterprise Management Partnership (Limited Partnership), Shanghai Lingjie Zhihuan Enterprise Management Partnership (Limited Partnership), and the newly added shareholders. Public information shows that the company is a developer of AI basic software.

At the new fiscal year kickoff meeting of Fliggy, Alibaba's online travel platform, Fliggy CEO Zhuang Zhuoran disclosed AI exploration progress. The AI-assisted coding penetration rate in the platform's technology development has reached 70%, and 100% of hotel business development personnel are equipped with AI business intelligence assistants. Approximately one-tenth of user-initiated online inquiries are handled by AI customer service.