Chinese Concept Stocks | Nasdaq Golden Dragon Index Declines Despite Gains in Alibaba and Pinduoduo

On April 17th, Eastern Standard Time (Thursday), the three major U.S. stock indexes fluctuated. The S&P 500 index rose by 0.13% to close at 5282.70 points; the Dow Jones index fell by 1.33% to close at 39142.23 points; the Nasdaq index fell by 0.13% to close at 16286.45 points.

On April 17th, the Nasdaq China Golden Dragon Index fell by 0.42%.

Regarding popular Chinese concept stocks, Alibaba rose by 2.02%, Pinduoduo rose by 1.45%, NetEase rose by 1.36%, NIO rose by 0.14%, Bilibili rose by 0.12%, Baidu rose by 0.11%, TSMC rose by 0.10%, XPeng Motors fell by 2.67%, and JD.com fell by 1.77%.

Companies with consecutive increases include: Webank Technology with a latest increase of 1.26%, rising for 9 consecutive days, with a cumulative increase of 11.84% during the period; Tiger Technology with a latest increase of 2.30%, rising for 6 consecutive days, with a cumulative increase of 47.35% during the period; Tims Tianhao with a latest increase of 3.82%, rising for 6 consecutive days, with a cumulative increase of 24.77% during the period; Reiya Electronics with a latest increase of 4.71%, rising for 6 consecutive days, with a cumulative increase of 47.05% during the period; Sanyi Technology with a latest increase of 2.27%, rising for 6 consecutive days, with a cumulative increase of 13.92% during the period; Smart Powerr with a latest increase of 1.77%, rising for 6 consecutive days, with a cumulative increase of 26.18% during the period.

Companies with consecutive declines include: Global Mophie with a latest decline of -10.78%, falling for 6 consecutive days, with a cumulative decline of -41.38% during the period; Haichuan Securities with a latest decline of -1.05%, falling for 5 consecutive days, with a cumulative decline of -3.92% during the period; Baosheng with a latest decline of -4.49%, falling for 5 consecutive days, with a cumulative decline of -31.17% during the period; Shansong with a latest decline of -2.26%, falling for 4 consecutive days, with a cumulative decline of -10.61% during the period; Zhongchao Medical with a latest decline of -0.83%, falling for 4 consecutive days, with a cumulative decline of -9.16% during the period; Sound Group with a latest decline of -0.29%, falling for 4 consecutive days, with a cumulative decline of -4.88% during the period; Meihua International with a latest decline of -0.29%, falling for 4 consecutive days, with a cumulative decline of -3.44% during the period.

It is reported that EHang is set to launch Air Taxi services this year.

On April 17, data disclosed by Alipay shows that in the first half of April 2025, the amount spent by visitors to China using Alipay increased by 1.5 times year-on-year, with American visitors spending via Alipay increasing by 2 times year-on-year.

Fliggy launched a new AI product called "Wen Yi Wen," which integrates several leading models of Tongyi Qianwen, supporting multimodal input. Users can interact using text, voice, or even dialects.

Information from the Hong Kong Stock Exchange shows that Deutsche Bank's shareholding in Li Auto-W decreased from 17.03% to 16.70% on April 14.

Information from the Hong Kong Stock Exchange indicates that Goldman Sachs' shareholding in XPeng Motors-W decreased from 5.00% to 4.92% on April 14.

TSMC states that the 2nm process will become a key manufacturing node at its Arizona plant in the U.S.

TSMC expects to start mass production of 2nm chips in the second half of this year.

TSMC projects capital expenditures for 2025 to be between $38 billion to $42 billion, maintaining its previous forecast range.

TSMC announced today that for the first quarter ending March 31, 2025, revenue in U.S. dollars was $25.53 billion, an increase of 35.3% year-on-year but a decrease of 5.1% quarter-on-quarter. In the first quarter, 3nm shipments accounted for 22% of total wafer revenue; 5nm accounted for 36%; 7nm accounted for 15%. Advanced technologies (defined as 7nm and more advanced) accounted for 73% of total wafer revenue.

TSMC's net profit for the first quarter of 2025 was NT$361.6 billion, compared to an estimated NT$346.76 billion.

A geomagnetic storm lit up the night sky in China, with stunning aurora displays occurring in multiple locations.

According to third-party data institutions, Taobao has topped the app download charts in 16 countries and ranked in the top ten in 123 countries, with a large influx of overseas consumers. Public data shows that on April 12, Taobao app had 104,000 overseas downloads, and by April 15, the number reached 326,000, a 222% increase from April 12. On the iOS platform alone, downloads in North America increased by 483% compared to April 12, while Europe saw a 439% increase. Many Taobao merchants have already felt the surge in overseas traffic.

Meituan Xiaoxiang Supermarket is set to open offline stores, potentially targeting Hema Fresh as a competitor.

Fliggy launched a new AI product called "Ask One." "Ask One" is a multi-agent driven AI product that thinks and executes tasks like a professional travel service provider. It provides users with real and usable travel solutions based on proprietary data in supply chain and service areas as well as travel and gameplay content across the web.