Chinese Concept Stocks | Nasdaq Golden Dragon Index Drops 5.12% as Alibaba and XPeng Lead Declines

On April 7th (Monday), US Eastern Time, the three major US stock indices showed fluctuating trends. The S&P 500 Index fell by 0.23%, closing at 5062.25 points; the Dow Jones Index dropped by 0.91%, closing at 37965.60 points; the Nasdaq Index rose by 0.10%, closing at 15603.26 points.

On April 7th, the Nasdaq Golden Dragon China Index fell by 5.12%.

Regarding popular Chinese concept stocks, Alibaba dropped by 9.10%, Xpeng Motors fell by 8.75%, NetEase decreased by 6.59%, Bilibili declined by 5.62%, JD.com dropped by 5.14%, Pinduoduo fell by 4.03%, Baidu decreased by 3.24%, NIO fell by 3.04%, TSMC dropped by 0.50%.

Companies seeing consecutive gains include: Wangban Technology, with a recent gain of 4.30% over 5 days, showing a cumulative gain of 33.01%; MicroAlgo, with a recent gain of 11.37% over 3 days, showing a cumulative gain of 14.83%; Yilong Energy, with a recent gain of 18.60% over 3 days, showing a cumulative gain of 33.50%; Chengdaotong Environmental, with a recent gain of 2.45% over 3 days, showing a cumulative gain of 15.47%.

Companies experiencing consecutive declines include: Burning Rock Biotech, with a recent drop of 3.64% over 12 days, showing a cumulative decline of 36.89%; ECARX Technology, with a recent drop of 3.85% over 9 days, showing a cumulative decline of 65.16%; Kebiao Technology, with a recent drop of 6.99% over 8 days, showing a cumulative decline of 23.48%; Vipshop, with a recent drop of 4.89% over 7 days, showing a cumulative decline of 18.73%; BOSS Zhipin, with a recent drop of 2.01% over 7 days, showing a cumulative decline of 24.68%; Douyu, with a recent drop of 0.16% over 7 days, showing a cumulative decline of 23.05%; Shuhai Information, with a recent drop of 2.09% over 7 days, showing a cumulative decline of 21.76%.

Contemporary Amperex Technology Co., Limited (CATL) responds to the acquisition of NIO Energy. Today, there is news that CATL is in talks with NIO to acquire the controlling stake of NIO Energy, which owns over 3000 battery swap stations. In response, a CATL spokesperson stated, "There is currently no more public information." NIO has yet to respond.

Tangde Film and Television announced that its subsidiary Shanghai Kafei Film Culture Media Co., Ltd. has signed a joint production agreement with Beijing iQIYI Technology Co., Ltd. Both parties will jointly produce a contemporary case-themed TV series, with total investment costs not exceeding 245 million yuan, entirely borne by iQIYI. The signing and execution of this agreement are expected to positively affect the company's financial status for the fiscal year 2025 and future accounting periods. The agreement specifies that Kafei Film will be responsible for production, while iQIYI will hold the global intellectual property rights. The agreement will not significantly impact the company's business independence nor lead to business dependence on iQIYI. Upon the agreement's effectiveness, if the TV series fails to launch due to iQIYI's reasons, iQIYI has the right to terminate the agreement and request a refund of the paid fees.

JPMorgan Chase reduces its stake in Alibaba to 6%. According to Hong Kong Stock Exchange documents, JPMorgan Chase decreased its shareholding in Alibaba-W from 6.23% to 6.00% as of March 31st.

He Xiaopeng resigns as chairman of Guangzhou Huitian Company. Tianyancha App shows that recently, Guangzhou Huitian Aerospace Technology Co., Ltd. underwent corporate changes, with He Xiaopeng and Guangdong Xpeng Motors Industry Holding Co., Ltd. withdrawing from the list of shareholders. Additionally, Guangdong Huitian Aerospace Technology Co., Ltd. was added as a sole shareholder. He Xiaopeng resigned as chairman, Zhao Deli resigned as legal representative and director, and Wu Xiulian was appointed as legal representative and director. Guangzhou Huitian Aerospace Technology Co., Ltd. was established in September 2020, with a registered capital of 10 million yuan, and operates in areas such as intelligent unmanned aerial vehicle manufacturing, industrial robot manufacturing, and artificial intelligence theory and algorithm software development.

Ant Group and others invest in Megvii Technology. Qichacha APP shows that recently, Beijing Megvii Technology Co., Ltd. underwent corporate changes, with Ant Group's Shanghai Yunzao Venture Capital Co., Ltd. and Lenovo Holdings' Tibet Xingfan Enterprise Management Co., Ltd. added as shareholders. The registered capital increased from approximately 5.715 million yuan to approximately 33.942 million yuan, with several new key personnel added.

Li Auto applies to register the "MindVLA" trademark. Tianyancha's property line information shows that recently, Beijing Li Auto Co., Ltd. applied to register the "MindVLA" trademark, with the international classification as a transportation tool, and the current trademark status is awaiting substantive examination.

Taobao adds large home decoration items to Xinjiang free shipping. On April 7th, it was reported that Taobao recently expanded the categories of free shipping items to remote areas, launching large home decoration free shipping services. Xinjiang consumers can search for products on Taobao, click "Xinjiang free shipping" to filter, and enjoy zero freight costs for purchasing large items such as sofas, beds, and toilets online.

Ant Group establishes an information technology company in Xi'an. Tianyancha App shows that recently, Digital Power (Xi'an) Information Technology Co., Ltd. was established, with Lu Shengxiao as the legal representative and a registered capital of 10 million yuan. The business scope includes information system integration services, enterprise management consulting, socio-economic consulting services, information consulting services, software sales, and labor services. The full equity penetration map shows that this company is wholly owned by Digital Power (Hangzhou) Information Technology Co., Ltd., which is indirectly wholly owned by Ant Technology Group Co., Ltd.

Jinko Solar: "Jinneng Convertible Bonds" expected to meet conditions for conversion price adjustment. Jinko Solar Co., Ltd. announced that from March 21, 2025, to April 3, 2025, the company's stock has closed below 85% of the current conversion price for ten trading days. If in the future, within twenty consecutive trading days, the company's stock closes below 85% of the current conversion price for five trading days, the conversion price adjustment clause for "Jinneng Convertible Bonds" may be triggered.