Chinese Concept Stocks | Nasdaq Golden Dragon Index Drops 2.98% Amid Mixed Performance in Chinese Stocks

On March 4th (Tuesday) Eastern Time, the three major U.S. stock indices collectively closed lower. The S&P 500 Index fell by 1.22% to 5778.15 points; the Dow Jones Index dropped by 1.55% to 42520.99 points; the Nasdaq Index decreased by 0.35% to 18285.16 points.

On March 3rd, the Nasdaq Golden Dragon China Index fell by 2.98%.

Regarding popular Chinese concept stocks, Bilibili rose by 5.76%, NetEase increased by 4.11%, TSMC grew by 4.08%, Baidu climbed by 3.36%, JD.com rose by 1.76%, Pinduoduo increased by 0.72%, Alibaba fell by 0.75%, XPeng Motors decreased by 0.22%, and NIO fell by 0.12%.

Among the continuously rising Chinese concept stocks, Rising Dragon increased by 0.30% over 13 consecutive days, with a cumulative increase of 0.70%. NetClass Technology rose by 4.42% over 7 consecutive days, with a cumulative increase of 10.14%. Shengda Technology grew by 0.21% over 6 consecutive days, with a cumulative increase of 2.33%. Future Vision increased by 0.10% over 6 consecutive days, with a cumulative increase of 0.10%. Akso Health rose by 2.21% over 5 consecutive days, with a cumulative increase of 12.10%. Cheche Technology increased by 2.19% over 5 consecutive days, with a cumulative increase of 34.62%.

Among the continuously declining Chinese concept stocks, Cango fell by 1.87% over 15 consecutive days, with a cumulative decrease of 39.54%. Starry Printing decreased by 1.45% over 8 consecutive days, with a cumulative decrease of 21.84%. Anglomo dropped by 21.05% over 8 consecutive days, with a cumulative decrease of 86.71%. 51talk fell by 9.38% over 6 consecutive days, with a cumulative decrease of 16.40%. Yousin Technology decreased by 2.16% over 6 consecutive days, with a cumulative decrease of 14.07%. Huapu Group dropped by 6.66% over 6 consecutive days, with a cumulative decrease of 26.49%. Graphene Electric New Materials fell by 9.63% over 6 consecutive days, with a cumulative decrease of 28.32%. Zhengkang International decreased by 11.84% over 6 consecutive days, with a cumulative decrease of 30.93%. Singularity Future fell by 2.89% over 6 consecutive days, with a cumulative decrease of 20.57%.

There are reports that Miniso is considering spinning off its trendy toy brand TOP TOY for a listing. When asked for comments, Miniso has not yet responded. TOP TOY is a trendy toy brand incubated by Miniso in 2020. According to Miniso's 2024 third-quarter report, as of the end of September 2024, the TOP TOY brand had a total of 234 stores, with a net increase of 86 stores in the first three quarters of 2024. In terms of performance, the TOP TOY brand achieved an operating income of 700 million yuan in mainland China in the first three quarters of 2024 (unaudited), an increase of 42.5% year-on-year, accounting for about 5.7% of the company's total revenue for the period.

A National Committee member of the Chinese People's Political Consultative Conference and Chairman of JD Group's Technical Committee, as well as President of JD Cloud Business Unit, Cao Peng expressed confidence in the role of new quality productivity in promoting the development of the real economy. As a technologist working on the front lines of the industry, he feels that digital technology is developing rapidly and achieving significant results, becoming a driving force for industrial change. During this year's National People's Congress and the Chinese People's Political Consultative Conference, Cao Peng submitted multiple proposals, actively offering suggestions and advice in areas such as maximizing the role of new-type physical enterprises, protecting the rights of new employment groups, boosting consumption and expanding domestic demand, and technological innovation aiding the construction of new quality productivity.

Reports indicate that Miniso is considering spinning off its toy brand for a listing in Hong Kong, potentially raising about $300 million.

According to the supply chain, at the request of major customers Nvidia and Broadcom, TSMC is accelerating the advancement of its CPO technology, with small-scale production expected in the second half of 2025 and mass production beginning in 2026.

On March 4th, TSMC announced plans to expand its investment in the United States to $165 billion. The company plans to increase its investment in advanced semiconductor manufacturing in the U.S. by an additional $100 billion. Currently, TSMC has invested $65 billion in advanced semiconductor manufacturing operations in Phoenix, Arizona, and with this expansion plan, TSMC's total investment in the U.S. is expected to reach $165 billion. The expansion plan includes the construction of three new manufacturing factories, two advanced packaging factories, and a large R&D team center.

On March 3rd, the 2025 World Mobile Communications Conference (hereinafter referred to as "MWC2025") opened in Barcelona, Spain. As a global technology development indicator, this year's conference themed "Integration, Connection, Creation" gathered more than 2,700 top technology companies and innovation firms worldwide. These companies will showcase cutting-edge technologies and innovative products in areas such as AI and communication technology integration, 5G-A, and IoT innovative applications, and collectively explore development trends in the mobile communications industry. This year, a total of 344 Chinese technology companies participated in MWC2025, an increase of nearly 20% compared to 2024. Chinese companies such as China Telecom, China Mobile, China Unicom, Huawei, ZTE, Honor, and Xiaomi have set up booths and released significant products and solutions. The deep integration of AI and 5G-A, as well as the application of AI in terminal devices and industry digital transformation, have become key points of display and release at this conference.