Chinese Concept Stocks | Nasdaq Golden Dragon Index Drops 2.03% as XPeng and NIO Lead Declines

On October 9th, Eastern Time (Thursday), the three major U.S. stock indices closed lower collectively. The S&P 500 index fell by 0.28% to 6735.11 points; the Dow Jones index dropped by 0.52% to 46358.42 points; and the Nasdaq index decreased by 0.08% to 23024.63 points.

On October 9th, the Nasdaq Golden Dragon China Index fell by 2.03%.

Regarding popular Chinese concept stocks, Bilibili rose by 2.91%, XPeng Motors fell by 5.35%, NIO decreased by 5.10%, Alibaba dropped by 4.11%, Baidu declined by 3.99%, JD.com fell by 2.89%, Pinduoduo decreased by 1.88%, TSMC fell by 1.54%, and NetEase dropped by 1.49%.

Among the continuously rising Chinese concept stocks, Wintergreen increased by 0.50% over 18 consecutive days, with a cumulative rise of 0.60%. Eureka Acquisition rose by 0.28% over 7 consecutive days, with a cumulative increase of 0.55%. 9F Inc. surged by 52.17% over 6 consecutive days, with a cumulative rise of 65.88%. Coned Bio increased by 8.79% over 5 consecutive days, with a cumulative rise of 42.45%. Zhongzhi Chefu rose by 7.04% over 5 consecutive days, with a cumulative increase of 4.67%. Antelope Holdings increased by 7.01% over 5 consecutive days, with a cumulative rise of 19.94%. Weidaqi Technology increased by 10.74%, with a cumulative rise of 35.25% over 5 days.

Among the continuously falling Chinese concept stocks, Huazhu fell by 0.95% over 6 consecutive days, with a cumulative decline of 4.74%. RLX Technology decreased by 0.84% over 6 consecutive days, with a cumulative drop of 10.61%. Sohu fell by 0.17% over 6 consecutive days, with a cumulative decrease of 5.00%. Lixiang Education fell by 2.33% over 6 consecutive days, with a cumulative drop of 79.95%. Alibaba decreased by 4.11% over 5 consecutive days, with a cumulative decline of 8.27%. Hesai fell by 7.70% over 5 consecutive days, with a cumulative drop of 10.21%. X3 Holdings decreased by 5.30% over 5 consecutive days, with a cumulative decline of 19.28%. Next Technology fell by 5.42% over 5 consecutive days, with a cumulative drop of 14.49%. Yishengxin fell by 6.36% over 5 consecutive days, with a cumulative decrease of 21.07%.

NIO to Launch World Model 2.0 Version, Achieving Open Interaction for Intelligent Driving
Ren Shaoqing, NIO's Chief Expert and Vice President of Autonomous Driving R&D, stated that NIO will launch iterative versions of World Model 2.0 on multiple platforms from the end of this year to the first quarter of next year. The goal is to incorporate language into the space-time cognitive ability based on the World Model, building an Open-set intelligent engine to achieve open interaction. Users will no longer be limited to a finite set of commands but will be able to express naturally, with the system correctly understanding and executing. Additionally, the new version will enhance long-sequence capabilities through reinforcement learning. To efficiently incorporate the latest general AI technologies and deliver intelligent driving experiences, NIO recently adjusted its intelligent driving department's organizational structure, aligning it with the general AI organization through a "4×100 relay baton" model that includes pre-research, mass production, platform replication, and model replication.

Tmall Double 11: Taobao Live Will Distribute 3 Billion Deposit Red Packets
The 2025 Tmall Double 11 event will commence at 8 PM on October 15th. This year, Taobao Live will distribute 3 billion deposit red packets. Each person can receive up to 30 deposit red packets per live room per day, with a single packet worth up to 50 yuan. Each person can receive over 2000 yuan in deposit red packets daily. These red packets will directly offset deposits from 8 PM on October 15th to 6 PM on October 20th, with the possibility of "0 yuan deposit" when paying the balance, as they can be combined with platform category coupons and consumption vouchers.

XPeng to Announce Major Breakthroughs in Physical AI at AI Tech Day This Year
XPeng Motors will announce major breakthroughs in the field of physical AI at this year's AI Tech Day, achieving key progress in the ability of the XPeng World Base Model to simulate the world. The XPeng AI team has been investing in the development of the physical world AI base model for over a year, reconstructing its methodology in the field of physical AI from the underlying AIInfra. The base model in development uses the largest model data volume ever and is the most advanced physical AI large model in China. This move will be a critical step in overcoming large-scale L4, enabling the rapid deployment of Turing AI intelligent driving to other countries worldwide and allowing the technology to be reused in AI cars and AI robots, benefiting the creation of an "AI + Mobility" ecosystem.

TSMC Announces September Revenue of NT$330.98 Billion, Down from NT$335.77 Billion Last Month
TSMC announced September revenue of NT$330.98 billion, down from NT$335.77 billion last month.

Hema Establishes Network Technology Company in Ningbo with a Registered Capital of 30 Million
According to Tianyancha App, Ningbo Hema Network Technology Co., Ltd. was established on September 28th, with Leng Zhiyong as the legal representative and a registered capital of 30 million yuan. The company operates in ticket agency services, goods import and export, general cargo storage services, first-class medical device sales, internet sales, automotive decoration product sales, electronic product sales, primary processing of agricultural products, and retail of agricultural products. Shareholder information shows that the company is wholly owned by Hema (China) Co., Ltd.

Alibaba Completes Exchange Offer for Three Outstanding USD Senior Notes
On October 9th, Alibaba announced on the Hong Kong Stock Exchange that it had completed an exchange offer for three outstanding USD-denominated senior unsecured notes issued in November 2024. The exchange offer, initiated on September 4, 2025, involves exchanging outstanding notes with a principal amount not exceeding $1 billion maturing in 2030 with a 4.875% coupon, notes with a principal amount not exceeding $1.15 billion maturing in 2035 with a 5.250% coupon, and notes with a principal amount not exceeding $500 million maturing in 2054 with a 5.625% coupon for notes of equal principal amount maturing in 2030, 2035, and 2054, respectively. The exchange offer period expired at 5:00 PM, New York City time, on October 2, 2025, and the guaranteed delivery procedure expired at 5:00 PM, New York City time, on October 7, 2025. According to the final count from the exchange offer's exchange agent, as of 5:00 PM, New York City time, on October 7, 2025, holders of (i) $996 million or 99.6% of the outstanding 4.875% notes maturing in 2030, (ii) $1.145 billion or 99.6% of the outstanding 5.25% notes maturing in 2035, and (iii) $496 million or 99.2% of the outstanding 5.625% notes maturing in 2054 have submitted their outstanding notes for exchange. These submitted notes have been canceled.

JD Logistics to Acquire JD's Local Instant Delivery Service Business for a Total Consideration of Approximately $270 Million
JD Logistics announced on the Hong Kong Stock Exchange on October 8, 2025, that the company (as the buyer) had entered into a business transfer agreement with JD.com (as the seller). Under the business transfer agreement, the group agrees to acquire, and JD Group agrees to transfer the target business. The acquisition will be achieved by transferring JD.com's wholly-owned subsidiary engaged in local instant delivery services (i.e., 100% equity of Dajiang) and 100% common shares of Dasheng to the company. The total consideration for the acquisition is approximately $270 million.