Chinese Concept Stocks | Nasdaq Golden Dragon Index Drops 0.77% Amid Mixed Performance of Key Stocks
4min read On September 6th, Eastern Time (Friday), the three major U.S. stock indices all fell by more than 1%. The S&P 500 Index fell by 1.73% to 5408.42 points; the Dow Jones Index fell by 1.01% to 40345.41 points; and the Nasdaq Index fell by 2.55% to 16690.83 points.
On September 6th, the Nasdaq Golden Dragon China Index fell by 0.77%. Among popular Chinese concept stocks, NIO rose by 3.71%, Pinduoduo rose by 0.67%, TSMC fell by 4.19%, XPeng Motors fell by 3.11%, Baidu fell by 2.17%, Bilibili fell by 1.63%, Alibaba fell by 1.49%, NetEase fell by 1.26%, and JD.com fell by 1.18%.
Rising Chinese Concept Stocks
NIO rose by 3.51% for 6 consecutive days with a cumulative increase of 35.68%. Dingdong Maicai rose by 7.47% for 6 consecutive days with a cumulative increase of 30.15%. Mingda Jiahe rose by 3.81% for 5 consecutive days with a cumulative increase of 7.92%. Autohome rose by 0.62% for 3 consecutive days with a cumulative increase of 11.30%. Atour rose by 0.46% for 3 consecutive days with a cumulative increase of 2.64%. Noah Holdings rose by 0.24% for 3 consecutive days with a cumulative increase of 2.67%. Baozun E-commerce rose by 0.88% for 3 consecutive days with a cumulative increase of 2.22%. Kingsoft Digital Technology rose by 1.83% for 3 consecutive days with a cumulative increase of 3.26%. Color Star rose by 21.02% for 3 consecutive days with a cumulative increase of 35.91%. Huiyang New Energy rose by 6.60% for 3 consecutive days with a cumulative increase of 11.99%. Phimex rose by 3.43% for 3 consecutive days with a cumulative increase of 7.11%. Microalliance rose by 0.67% for 3 consecutive days with a cumulative increase of 1.68%. Guanke Meibo rose by 9.52% for 3 consecutive days with a cumulative increase of 22.12%. Eurofins rose by 3.23% for 3 consecutive days with a cumulative increase of 10.34%. Kaixin rose by 16.90% for 3 consecutive days with a cumulative increase of 25.76%.
Falling Chinese Concept Stocks
Burning Rock fell by 1.30% for 8 consecutive days with a cumulative decrease of 22.67%. Huize Insurance fell by 18.42% for 8 consecutive days with a cumulative decrease of 60.43%. China Auto Systems fell by 2.25% for 7 consecutive days with a cumulative decrease of 5.95%. Sunko Life Sciences fell by 9.85% for 7 consecutive days with a cumulative decrease of 32.53%. X3 Holdings fell by 24.32% for 6 consecutive days with a cumulative decrease of 33.78%. Huadi International fell by 1.77% for 6 consecutive days with a cumulative decrease of 9.95%. Blue Hat fell by 2.13% for 6 consecutive days with a cumulative decrease of 39.84%.
Chinese Concept Stock News
iQIYI Apologizes: Compensates Affected Users with a Viewing Voucher
iQIYI Sports issued an apology statement, stating that during the live broadcast of the China vs Japan match on September 5th, the enthusiasm of Chinese fans far exceeded expectations. Instantaneous traffic surge after the match started and a spike in user payments caused some users to be unable to purchase or have their purchases not credited in real-time, affecting their viewing experience. iQIYI deeply apologizes for this. For the affected users, iQIYI will provide the following solutions:1. For sports members who redeemed viewing vouchers multiple times, the duplicated vouchers have been returned to their accounts.2. For users who made duplicate payments, the redundant amount will be refunded.3. Users whose rights were affected during the match will be compensated with a viewing voucher in their accounts.
TaoBao Announces Addition of WeChat Pay, Mobile Payment Companies Respond
On September 5th, TaoBao officially announced the addition of WeChat Pay, which will be gradually opened to all TaoBao sellers from September 12th. Following the announcement, mobile payment concepts strengthened in the secondary market. Hengbao Co., Ltd., and Cuiwei Co., Ltd. both achieved two consecutive limit-ups on September 5th and 6th, while Feitian Technologies surged by 33.42% over two trading days.
Alibaba Announces Repurchase of 5.83 Million Shares on September 5th
Alibaba announced that it repurchased 5.83 million shares on September 5th, costing approximately $59.98 million.
TaoBao and Xiaomi Launch 'Virtual Test Drive': Vision Pro Now Test Drive Xiaomi SU7
TaoBao announced a collaboration with Xiaomi to launch a 'virtual test drive' project. The official statement noted that this collaboration would provide users with a more realistic virtual test drive experience. The feature will be officially launched on September 9th. It is the world's first consumer-facing virtual test drive product and one of the most technically complex and advanced XR projects, allowing users to experience the Xiaomi SU7 anytime, anywhere through TaoBao's VisionPro version.
China Haida: Collaborates with Baidu Apollo, Mass-Produced and Delivered 5G+V2X Smart Antennas
China Haida stated on its interactive platform that the company collaborates with Baidu Apollo in the field of high-precision differential positioning solutions and related technologies, and has mass-produced and delivered 5G+V2X smart antennas to them. Currently, the revenue from the company's intelligent driving vehicle-mounted high-precision business accounts for a small portion of the company's total revenue.
Alibaba International Station Launches AI Sourcing Agent
On September 5th, at the CoCreate 2024 summit in the United States, Alibaba International Station released a new AI Sourcing Agent for global buyers, applying generative AI across all aspects of trade procurement. Alibaba International Station President Zhang Kuo stated that they will collaborate with shipping logistics giant Maersk to launch a more reliable and cost-effective bulk cargo sea freight logistics service globally.
Li Auto: Added 200 Million Kilometers of Intelligent Driving Distance in August, Total Reaches 2.26 Billion Kilometers
Li Auto disclosed its intelligent driving report for August, with a total intelligent driving distance of 2.26 billion kilometers, an increase of 200 million kilometers in August. The total number of intelligent driving users is 908,000, with 44,000 new intelligent driving users in August. The trial drive user ratio is 55%.
Pinduoduo Lowers Merchant Store Deposits, Initially Covering Nearly 70 Categories
Pinduoduo's latest merchant notice shows that the basic deposit for merchant stores will be reduced from 1,000 yuan to 500 yuan. The initial deposit for new personal and enterprise stores will also be reduced to 500 yuan. The first batch of merchants benefiting from this policy covers nearly 70 categories, with some merchants already completed the withdrawal, benefiting millions of merchants.
Baidu Senior Vice President He Mingke: Many AI Devices Have Penetrated All Aspects of Healthcare
At the 2024 Jiemian REAL Technology Conference on September 6th, Baidu Senior Vice President He Mingke stated in his speech that many AI devices have penetrated all aspects of healthcare, reaching a "stunning" penetration rate. For instance, the most notable AI product in medical imaging has a penetration rate of over 70% in tertiary hospitals and a certain penetration rate in secondary and primary hospitals as well.
JD Group: JD Supermarket Orders Increased by Over 30% in the First Half of the Year
According to JD Group, at the JD Supermarket's 10th anniversary celebration on September 5th, JD Supermarket disclosed its latest performance: in the first half of this year, JD Supermarket's new users grew by 20%, orders increased by over 30%, and revenue achieved high double-digit growth. JD Group will invest 10 billion yuan to support JD Supermarket's 100 billion yuan agricultural subsidy project and new product launches.