Chinese Concept Stocks | Nasdaq Golden Dragon Index Drops as Major Stocks Decline

On March 10th, Eastern Time, the three major U.S. stock indices plummeted collectively. The S&P 500 dropped 2.70% to 5614.56 points; the Dow Jones fell 2.08% to 41911.71 points; the Nasdaq decreased 4.00% to 17468.32 points.

On March 10th, the Nasdaq Golden Dragon China Index fell by 3.59%.

Among popular Chinese stocks, Bilibili declined 9.50%, Alibaba dropped 5.77%, JD.com decreased 3.90%, TSMC fell 3.73%, Pinduoduo declined 3.58%, XPeng Motors dropped 2.69%, Baidu decreased 2.33%, NetEase fell 0.37%, and NIO decreased 0.11%.

For continuously rising Chinese stocks, Lianzhang Portal rose by 30.07% over 8 consecutive days, with a cumulative increase of 291.50%. Zhongjin Medical rose by 2.09% over 5 days, with a cumulative increase of 24.16%. iClick Interactive increased by 2.30% over 5 days, with a cumulative rise of 32.72%. Pearl Freight rose by 1.22% over 5 days, with a cumulative increase of 23.58%. 51talk increased by 4.06% over 4 days, with a cumulative rise of 19.50%. Luda Technology rose by 0.24% over 4 days, with a cumulative increase of 5.88%. Graphene Electric Vehicle New Materials increased by 0.95% over 4 days, with a cumulative rise of 9.62%. MKDWELL Tech rose by 0.57% over 4 days, with a cumulative increase of 15.87%. Taoping increased by 8.47% over 4 days, with a cumulative rise of 11.83%.

For continuously declining Chinese stocks, Yuxin Technology fell by 9.84% over 10 consecutive days, with a cumulative decrease of 37.26%. Lotus Technology dropped 6.46% over 8 days, with a cumulative decrease of 36.13%. Next Technology decreased by 16.17% over 8 days, with a cumulative drop of 68.58%. Aurora fell by 4.90% over 7 days, with a cumulative decrease of 27.25%. Yanzhong Technology dropped 6.04% over 7 days, with a cumulative decrease of 22.66%.

He Xiaopeng: Invest another 50 billion in robotics! Even 100 billion!
"XPeng Motors has been deeply involved in the humanoid robot industry for 5 years, and may continue for another 20 years, investing another 50 billion, or even 100 billion. At present, we are still in the early stages, and the investment will be relatively conservative." He Xiaopeng believes that it is very difficult to leap from L2 to L3 in humanoid robots.

NIO fully promotes organizational reform, shifting from 'asking for budgets' to 'focusing on operations'
NIO is advancing an overall organizational reform, implementing a "basic business unit" operating mechanism to further enhance operational efficiency and strengthen core business capabilities. This reform requires the entire company to shift from "asking for budgets" to "focusing on operations," optimizing resource allocation to better adapt to market changes. Every investment should have a clear responsible person and operational goals, withstand rigorous scrutiny of return on investment, and be accountable for the final result. It is reported that NIO's after-sales service business has achieved profitability for the entire year of 2024, and profitability is expected to continue to improve in 2025 as the user base continues to grow. In the past two years, the user purchase penetration rate of the NIO APP Car Mall section (selling vehicle-related products) has increased from 50% to over 90%, with GMV and net profit both increasing more than fivefold.

He Xiaopeng: Fundamental differences between smart cars and AI cars
On March 10th, He Xiaopeng, Chairman of XPeng Motors, responded for the first time to the differences between smart cars and AI cars in an interview. He Xiaopeng stated that past smart car algorithms and rules were written by programmers, while AI cars are trained and run by reasoning. "A rule may have a million assumptions, which means that from the user's experience, the upper limit of autonomous driving is very low, and the lower limit needs to be compensated with a large number of rules. This leads to many L4 companies performing well in certain areas but lacking in broader scopes. However, AI cars can accommodate very rich special scenarios through training methods, even approaching infinity." He Xiaopeng said that in the past, smart cars were just okay and relatively safe to use, but their upper limit was low. However, in the field of AI cars, XPeng Motors will achieve L3 level in the second half of the year, and then take a few more years to reach a higher level.

Alibaba Cloud and Deepwise Technology jointly launch a scientific research cloud platform and a drug computational design platform
Alibaba Cloud and Deepwise Technology have jointly launched the innovative Bohrium scientific research cloud platform and Hermite drug computational design platform, significantly shortening the drug development cycle, reducing costs, and significantly improving the success rate of research and development.

TSMC's February sales reached NT$260 billion, up 43.1% year-on-year
TSMC's sales in February reached NT$260 billion, an increase of 43.1% year-on-year.

Alibaba Pictures establishes a film and culture company in Guangzhou
According to Tianyancha App, recently, Guangzhou Little Universe Film and Culture Co., Ltd. was established with a legal representative named Wang Yuan and a registered capital of 1 million RMB. Its business scope includes sports competition organization, literary creation, sports guarantee organization, sports event planning, film and television art props setting services, film production, etc. It is wholly owned by Beijing Alibaba Pictures Co., Ltd., a subsidiary of Alibaba Pictures. Notably, Beijing Alibaba Pictures Co., Ltd. had previously established Suzhou Little Universe Film and Media Co., Ltd.

April closure of public cloud services denied by NetEase Digital Intelligence: Hive modular service shutdown, other businesses unaffected
Recently, there were media reports that NetEase would close its public cloud services on April 7th. In response, NetEase Digital Intelligence stated that this shutdown involves the Hive modular service under NetEase Digital Intelligence, affecting about 4,000 users (including individual users), while other businesses (including IaaS services) remain unaffected. NetEase Cloud Messaging, NetEase Cloud Business, NetEase YiDun, NetEase ShuFang, and NetEase CodeWave services are also operating normally.

Taobao takes action to govern malicious store groups
According to Taobao's official rules website, adjustments to platform rules, including the "Taobao Store Opening Specifications," "Taobao Market Management and Violation Handling Specifications," and "Taobao's Implementation Details for Non-Source Stores," came into effect on March 4th to govern malicious store groups, protect the rights of quality merchants operating in compliance on the platform, and maintain platform fairness.

Alibaba Cloud exclusively wins the bid for China Construction Bank's intelligent coding project
It is reported that Alibaba Cloud's Tongyi Lingma has exclusively won the bid for the Intelligent Coding Assistant project of Jianxin Financial Technology Co., Ltd., a fintech subsidiary of China Construction Bank. According to the latest bid announcement, JD Technology Information Technology Co., Ltd., Beijing Zhipu Huazhang Technology Co., Ltd., and Alibaba Cloud Computing Co., Ltd. participated in the project bidding, and Alibaba Cloud ultimately won the bid. This means that Alibaba Cloud's AI code tool has passed the most rigorous testing by a globally leading financial institution.