Chinese Concept Stocks | Nasdaq Golden Dragon Index Drops; Li Auto Expands Chip R&D to Hong Kong

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On October 9th, Eastern Time (Wednesday), the major U.S. stock indices collectively closed higher, with the S&P 500 up 0.71% at 5792.04 points; the Dow Jones up 1.03% at 42512.00 points; and the Nasdaq up 0.60% at 18291.62 points.

On October 9th, the Nasdaq Golden Dragon China Index fell by 1.29%.

Regarding popular Chinese stocks, XPeng Motors rose 3.38%, NIO increased by 0.64%, TSMC climbed 0.59%, NetEase fell 5.67%, Pinduoduo dropped 2.34%, Baidu decreased 1.84%, JD.com fell 1.61%, Alibaba declined 1.60%, and Bilibili was down 0.26%.

The companies experiencing consecutive gains include Distoken with a recent increase of 0.37% over 17 days, accumulating a 0.83% rise; Global Lights up 0.48% over 10 days, totaling a 1.06% increase; TSMC up 0.59% over 6 days with an 8.76% rise; Fulong Group rising 4.22% over 4 days, gaining 8.81%; Fanhua Holdings Group up 4.05% over 4 days with a 32.76% increase; and Taihecheng Medical up 1.13% over 4 days with a 6.27% rise.

The companies experiencing consecutive declines include ChinaNet Online with a recent drop of 3.98% over 7 days, totaling a 50.68% decline; Huapu Group down 10.83% over 6 days, accumulating a 47.14% decrease; XChange down 5.59% over 6 days with a 53.51% drop; Tencent Music down 2.14% over 5 days with a 9.98% decrease; Studio City down 1.13% over 5 days with a 16.92% drop; Alliance down 1.12% over 5 days with a 29.17% decrease; Monster Charging down 1.26% over 5 days with a 10.47% drop; Tuniu down 9.45% over 5 days with a 24.34% decrease; Feitian Industries down 2.24% over 5 days with a 25.47% drop; Cheche Tech down 0.01% over 5 days with a 33.50% decrease; Ebang International down 2.11% over 5 days with an 8.71% decline; GD Culture Group down 1.75% over 5 days with a 21.57% decrease; Genetron Holdings down 4.86% over 5 days with an 18.02% drop; Huize Insurance down 7.61% over 5 days with an 18.77% decline; LianDai Technology down 4.14% over 5 days with an 18.16% decrease; Sunko Life Sciences down 4.11% over 5 days with a 32.62% drop; Tian Ruixiang down 1.61% over 5 days with a 13.68% decrease; Zhongbei Energy down 14.72% over 5 days with a 34.15% drop; and Carbon Doctor Holdings down 2.76% over 5 days with a 28.78% decrease.

Li Auto Plans Hong Kong Chip R&D Office, Autonomous Driving Chip Starts Taping Out
Li Auto plans to establish a chip R&D office in Hong Kong, recruiting AI chip architects at levels 18-19. The office will serve as an international technology exchange center under Li Auto's chip pre-research department. The available positions correspond to technical expert/senior expert roles at leading Chinese internet companies. The team is expected to consist of about 10 people. According to a source close to Li Auto, the pre-research department is part of the system operations department and focuses on software development related to autonomous driving chips. "The pre-research team needs elite individuals." Li Auto is developing two types of chips: an AI inference chip for autonomous driving scenarios and an SiC power chip for motor controller driving. The AI inference chip for autonomous driving has a similar architecture to Tesla's Hardware 5.0, with approximately 40 billion transistors, and has been sent to TSMC for taping out.

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TSMC's September sales reached 251.87 billion New Taiwan Dollars, a year-on-year growth of 39.6%.

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Baidu plans to launch an autonomous taxi service outside China.

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