Chinese Concept Stocks | Nasdaq Golden Dragon Index Falls 1.35% as Major Stocks Decline

On July 29th, Eastern Time (Tuesday), the three major U.S. stock indices collectively closed lower. The S&P 500 index fell by 0.30%, closing at 6370.86 points; the Dow Jones index decreased by 0.46%, ending at 44632.99 points; and the Nasdaq index dropped by 0.38%, finishing at 21098.29 points.

On July 29th, the Nasdaq Golden Dragon China Index fell by 1.35%.

Among popular Chinese concept stocks, JD.com fell by 3.01%, Baidu dropped by 2.91%, XPeng Motors decreased by 2.72%, NIO declined by 2.49%, Alibaba fell by 2.28%, Bilibili dropped by 1.73%, Pinduoduo decreased by 1.15%, TSMC fell by 0.59%, and NetEase decreased by 0.27%.

Among continuously rising Chinese concept stocks: Energy Monster increased by 1.30% over 12 consecutive days, with a cumulative increase of 4.02% during the period. 51Talk’s share rose by 5.00% over 11 consecutive days, with a cumulative gain of 24.86%. E-Long Energy increased by 9.23% over 5 consecutive days, with a cumulative rise of 73.17%. Home Control Holdings rose by 0.69% over 5 consecutive days, with a cumulative increase of 9.08%. QiJi Auto increased by 1.89% over 4 consecutive days, with a cumulative rise of 7.75%. Wintergreen rose by 0.10% over 4 consecutive days, with a cumulative increase of 0.40%.

Among continuously declining Chinese concept stocks: Bit Mining fell by 7.47% over 9 consecutive days, with a cumulative decrease of 40.64% during the period. Zhongjin Technology dropped by 5.85% over 8 consecutive days, with a cumulative loss of 21.39%. Bit Origin decreased by 11.60% over 7 consecutive days, with a cumulative decline of 46.47%. ROKOS fell by 2.96% over 6 consecutive days, with a cumulative decrease of 44.71%. SOS Limited decreased by 11.50% over 6 consecutive days, with a cumulative decline of 27.01%. Mogu Street fell by 2.91% over 6 consecutive days, with a cumulative decrease of 13.89%.

Kering Group's Second Quarter Revenue at 3.7 Billion Euros
Kering Group's second-quarter revenue was 3.7 billion euros, with market expectations at 3.77 billion euros. The revenue decreased by 15%, compared to a forecasted decline of 14.7%. For the first half of the year, Kering's revenue decreased by 15%, against a market expectation of a 14.4% decline.

Artemis, the Majority Shareholder of Kering Group: We Have No Liquidity Issues, Cash Reserves Are Sufficient to Cover Short-Term Debt
Artemis, the majority shareholder of Kering Group, stated that they have no liquidity issues, and their cash reserves are basically sufficient to cover short-term debt.

Li Auto: Li Auto i8 Priced from 321,800 Yuan Nationwide
Li Auto announced that the Li Auto i8 will have a nationwide starting price of 321,800 yuan, with deliveries commencing on August 20th.

Report: NVIDIA Orders 300,000 H20 Chips from TSMC Due to Strong Demand in the Chinese Market
On the afternoon of July 29th, China's A-share market indices climbed, especially in the hardware computing power sector, with gains expanding towards the closing. Analysts pointed out that a piece of news from overseas significantly boosted the computing power sector. It was reported that NVIDIA had to urgently order 300,000 H20 chips from TSMC last week due to stronger-than-expected demand in the Chinese market.

Standard Chartered Group Forms Strategic Partnership with Alibaba
Standard Chartered Group and Alibaba Group recently signed a strategic cooperation memorandum to accelerate the integration of financial services and AI technology. Standard Chartered has partnered with Alibaba Cloud as a strategic partner in the AI field, aiming to enhance operational efficiency and customer experience through Alibaba Cloud's AI technology. Standard Chartered will provide Alibaba with customized services, including financial support, supply chain financing support, and cross-border fund management solutions. The partnership will also strengthen cooperation in sustainable development and sustainable finance.

Taobao Flash Sale Reports 110% Growth in New Brands in July
On July 29th, Taobao Flash Sale revealed that the number of new brands joining in July increased by 110% compared to June, with over 12,000 new non-restaurant brand stores launching, including top brands in the 3C, apparel sports, luxury goods, and beauty industries.

NIO Donates 2 Million Yuan to Aid Heavy Rain Disaster Areas
According to NIO's official Weibo account, NIO, in collaboration with the NIO User Trust Fund, donated 2 million yuan to support disaster areas affected by heavy rainfall, in partnership with the China Charity Federation.

Former Ant Group Vice President Wang Xiaohang Appointed as CTO of Ping An Insurance
Today, Ping An Insurance announced the appointment of Wang Xiaohang as the Chief Technology Officer (CTO) of the group and General Manager of Ping An Technology. Wang has nearly 20 years of experience in the "finance + technology" field. He joined Ant Group in 2016, serving as Vice President, CTO of Wealth and Insurance Business Unit, and other roles, leading digital finance and AI innovation. In 2015, he was the Chief Architect at Baidu, driving the development of Baidu Wallet and financial business. He has also held senior technical management positions at internationally renowned companies like Google (USA) and Bloomberg.