Chinese Concept Stocks | Nasdaq Golden Dragon Index Declines Amid Mixed Performance of Chinese Stocks

On May 20th, Eastern Time (Tuesday), the three major indices of the US stock market collectively closed lower. The S&P 500 index fell by 0.39% to 5940.46 points; the Dow Jones index fell by 0.27% to 42677.24 points; and the Nasdaq index fell by 0.38% to 19142.71 points.

On May 20th, the Nasdaq Golden Dragon China Index fell by 0.65%.

Regarding popular Chinese concept stocks, Alibaba rose by 1.81%, NetEase rose by 1.59%, Bilibili rose by 0.89%, JD.com rose by 0.77%, Baidu rose by 0.10%, NIO fell by 1.98%, XPeng Motors fell by 1.48%, Pinduoduo fell by 0.90%, and TSMC fell by 0.03%.

For the Chinese concept stocks that have been rising consecutively, Four Seasons Education rose by 6.16% for 9 consecutive days with a cumulative increase of 31.45%; Yipin Weike rose by 1.72% for 6 consecutive days with a cumulative increase of 34.09%; Austin Technology rose by 4.14% for 5 consecutive days with a cumulative increase of 9.89%; Intelligent Charging rose by 2.00% for 5 consecutive days with a cumulative increase of 4.32%; BeiGene rose by 1.50% for 4 consecutive days with a cumulative increase of 7.69%; Microvast Holdings rose by 5.01% for 4 consecutive days with a cumulative increase of 22.40%; Yuchai International rose by 0.51% for 4 consecutive days with a cumulative increase of 3.57%; I-Mab rose by 0.31% for 4 consecutive days with a cumulative increase of 3.55%; Sky Solar rose by 2.27% for 4 consecutive days with a cumulative increase of 10.20%; Allied Esports rose by 12.70% for 4 consecutive days with a cumulative increase of 19.96%; Zibo Technology rose by 0.91% for 4 consecutive days with a cumulative increase of 6.73%; Abits Group rose by 3.20% for 4 consecutive days with a cumulative increase of 35.16%; Tian Di Hui rose by 1.26% for 4 consecutive days with a cumulative increase of 8.00%.

For the Chinese concept stocks that have been falling consecutively, WeRide fell by 1.17% for 6 consecutive days with a cumulative decrease of 17.24%; Mercurity Fintech fell by 0.19% for 6 consecutive days with a cumulative decrease of 17.48%; MicroAlgo fell by 5.22% for 6 consecutive days with a cumulative decrease of 59.42%; Autohome fell by 1.75% for 5 consecutive days with a cumulative decrease of 5.36%; Daqo New Energy fell by 0.49% for 5 consecutive days with a cumulative decrease of 4.93%; Shengda Technology fell by 0.66% for 5 consecutive days with a cumulative decrease of 9.61%; Conglian Group fell by 3.28% for 5 consecutive days with a cumulative decrease of 11.94%; Rongye Food fell by 14.56% for 5 consecutive days with a cumulative decrease of 86.15%; Xiao-i Robot fell by 5.25% for 5 consecutive days with a cumulative decrease of 18.57%.

ZTO Express Q1 adjusted earnings per ADS are 2.71 yuan
ZTO Express Q1 adjusted earnings per ADS are 2.71 yuan, compared to 2.68 yuan in the same period last year, with an estimate of 2.93 yuan; Q1 revenue is 10.89 billion yuan, up 9.4% year-on-year, with an estimate of 11.68 billion yuan.

Meitu to issue approximately USD 250 million convertible bonds to Alibaba Network China
Meitu plans to establish a strategic cooperation with Alibaba Network China and will issue approximately USD 250 million convertible bonds for a three-year period, with an initial conversion price of HKD 6 per share (at the agreed exchange rate).

Guangdong's first "Lychee Service Area" opened
On the 20th, Guangdong's first open-style themed service area focused on lychee culture, Baqiao Service Area on the Baomao Expressway, officially started operation. Located at the junction of Genzi Town and Fenjie Town in Gaozhou City, Maoming, the service area connects the scenic spots, lychee forests, and village greenways on both sides of the expressway through a pedestrian landscape bridge. It also pioneered the setting of ETC lanes connected to roads outside the service area within Guangdong Province.

Liren Lizhuang: The overall sales revenue of "Qianjin Aurora Drink" with "Ergothioneine" component accounts for less than 1%
Liren Lizhuang issued a notice regarding abnormal movements, stating that the "Qianjin Aurora Drink" product containing the "Ergothioneine" component, which is currently receiving attention in the market, had a cumulative transaction amount (GMV) of only 4.006 million yuan in the first quarter of 2025, accounting for less than 1% of overall sales revenue, with minimal impact on daily operations and overall performance. The future development of this product remains highly uncertain.

XPeng Motors MONA M03 Max model officially unveiled, deliveries to start this month
XPeng Motors MONA M03 Max model has been officially unveiled and will start deliveries this month. MONA M03 was launched in August last year, offering standard and Max versions. MONA M03 Max is the top model in this product line. With this unveiling, XPeng has upgraded the original 580km range of MONA M03 Max to 600km for free. XPeng Motors also stated that in addition to the two configurations currently on sale, the M03 will have a higher-configured Plus model.

Dingdong Maicai completes organizational structure adjustment and launches multiple AI features on the app
Dingdong Maicai founder and CEO Liang Changlin announced that the company has initiated an internal transformation and has achieved phase results. The company's internal structure has been changed to 10 independent business units, organizing core departments such as product development, operations, and quality control together, led by 10 core executives. Meanwhile, the Dingdong Maicai app has been revamped, launching new features like "AI Dietary Manager" and AI large model search.

AiHuiShou Group Q1 revenue reaches 4.65 billion yuan
AiHuiShou (Love Recycling) Group's Q1 revenue was 4.65 billion yuan, up 27.5% year-on-year, with a non-GAAP operating profit of 110 million yuan, up 39.5% year-on-year. Additionally, on the GAAP level, AiHuiShou achieved positive annual operating profits for the first time last year, with Q1 operating profit and net profit reaching 72.69 million yuan and 42.80 million yuan, respectively, reversing previous losses.

Vipshop Q1 net revenue is 26.27 billion yuan, down 5% year-on-year
Vipshop's Q1 net revenue was 26.27 billion yuan, down 5% year-on-year, with an estimate of 26.33 billion yuan; adjusted earnings per ADS were 4.43 yuan, compared to 4.66 yuan in the same period last year, with an estimate of 4.32 yuan. The company expects Q2 net revenue to be between 25.5 billion yuan and 26.9 billion yuan, with a market estimate of 26.25 billion yuan.

Dingdong Maicai initiates strategic upgrading
Recently, Dingdong Maicai founder and CEO Liang Changlin announced during the Q1 earnings call that the company has initiated an internal transformation and has achieved phase results. It is reported that the internal structure of Dingdong Maicai has been deconstructed from top to bottom, changing the original product development center to 10 independent business units, organizing core departments such as product development, operations, and quality control together, led by 10 core executives, responsible for the business units. Recently, the Dingdong Maicai app has undergone a revamp test, adding a "Quality Love" section to the homepage, and launching new features like "AI Dietary Manager" and AI large model search.

JD Five Star Appliances establishes a home shopping company in Shanghai
Tianyancha App shows that recently, Shanghai JD 101 Home Shopping Co., Ltd. was established, with a registered capital of 50 million yuan. Its business scope includes furniture sales, furniture accessories sales, sales of arts and crafts and ceremonial supplies, ticketing agency services, marketing planning, etc. Shareholder information indicates that the company is wholly owned by JD Five Star Appliances Group Co., Ltd.

Li Auto: Weekly sales for the 20th week in 2025 are 9200 units
Li Auto: Weekly sales for the 20th week in 2025 (5.12—5.18) were 9200 units.

JD Cloud releases nine products and three industry integrated machines to generate enterprise-exclusive digital employees
On May 20th, JD Cloud released the JoyScale AI computing platform, JoyBuild large model development computing platform, JoyAgent intelligent agent 2, and nine other products in Shanghai, as well as integrated machines for healthcare, industry, and finance. These products aim to help enterprises comprehensively reconstruct AI infrastructure, generate enterprise-exclusive digital employees, and accelerate deep application. JD Cloud stated that as deep applications accelerate, the deployment rate of digital employees will become a standard for measuring an enterprise's advancement. The extent to which AI completes tasks determines how fast an enterprise can progress in the future. The new generation of Agent represents deep application, and JD Cloud JoyAgent2.0 is helping enterprises generate professional digital employees. Additionally, the large-scale application explosion will drive AI infrastructure towards standardization, with AI Infra1.0 already in place.

Jidu Technology company under Geely CEO experiences business abnormalities
Tianyancha App shows that recently, Jidu Technology Co., Ltd. was listed in the business abnormal directory by Beijing Economic-Technological Development Area Market Supervision Bureau due to being unreachable through its registered address or business location. Jidu Technology Co., Ltd. was established in June 2021, with a registered capital of 2 billion yuan. Its business scope includes technical services, technology development, technical consulting, technical exchange, technology transfer, technology promotion for new energy vehicle whole vehicles and related parts, manufacturing of automotive parts and accessories, sales of new energy vehicles, automotive parts, etc. Shareholder information indicates that the company is wholly owned by Baidu's Dazi County Baixing Investment Management Co., Ltd. It is noteworthy that previously, Geely CEO Xia Yiping's Yiwus Jidu Technology Services Co., Ltd., Qingdao Jidu Technology Services Co., Ltd., Jidu Technology (Wuhan) Co., Ltd., and Guangzhou Jidu Technology Services Co., Ltd. were listed in the business abnormal directory due to being unreachable through their registered addresses or business locations.