Chinese Concept Stocks | Nasdaq Golden Dragon Index Falls 2.74% Amid Broad Declines in Major Chinese Stocks

On June 13th, Eastern Time, all three major U.S. stock indices fell more than 1%. The S&P 500 index dropped 1.13% to 5,976.97 points; the Dow Jones index fell 1.79% to 42,197.79 points; and the Nasdaq index decreased 1.30% to 19,406.83 points.

On June 13th, the Nasdaq Golden Dragon China Index fell by 2.74%.

Regarding popular Chinese stocks, XPeng Motors dropped 5.41%, Bilibili fell 3.47%, Alibaba decreased 3.24%, NIO fell 3.18%, Pinduoduo dropped 2.76%, NetEase fell 2.55%, JD.com decreased 2.53%, Baidu fell 2.06%, and TSMC dropped 2.01%.

Companies with consecutive rises include Feitian Industries with a latest increase of 2.61% over 8 days, accumulating a growth of 187.21%. Akso Health rose 2.33% over 4 days, with a total growth of 3.84%. Connect Biopharma increased 11.76% over 4 days, with an overall growth of 21.64%. Phoenix New Media saw a rise of 3.60% over 4 days, totaling a growth of 5.66%. Advanced Biomed rose 0.19% over 4 days, with a total increase of 3.39%. Wangdao Technology increased 3.06% over 4 days, accumulating a growth of 8.60%.

Companies with consecutive declines include Inlifu with a latest decrease of -10.80% over 8 days, accumulating a drop of -31.21%. Gongwuyuan fell -29.50% over 7 days, with a total decline of -84.50%. Zhongjin Technology decreased -5.43% over 6 days, with an overall drop of -29.07%. Mais Intelligent Engine fell -5.93% over 6 days, accumulating a decrease of -23.95%. Baosheng saw a decline of -13.17% over 6 days, totaling a drop of -28.05%.

On June 13th, national business registration information indicated that the legal representative of Ant Group has changed from Eric Jing to Han Xin Yi. The company's core management team remains unchanged, with Eric Jing continuing as Chairman and Han Xin Yi as CEO.

Recently, Bosch and Alibaba Cloud announced their collaboration in the large model field, with the Tongyi model aiding Bosch in accelerating AI technology applications in smart cabins, achieving proactive cabin environment perception and 3D digital human interaction for the first time.

On June 13th, JD.com and Jiangsu Sports Industry Group Co., Ltd. signed an agreement to officially become the "Sucao" official strategic partner. The two parties will engage in comprehensive deep cooperation in areas such as event marketing, cultural entertainment, mass fitness, publicity and live streaming, and customized competitions.

On June 13th, Tencent Music Entertainment Group and Television Broadcasts Limited (TVB) announced an in-depth strategic cooperation focusing on entertainment and music in the Greater Bay Area. The cooperation will integrate resources such as music, technology, user ecosystem, film and television IP, mainland and Hong Kong-Macau regions, and overseas channels, exploring innovative ecosystem models of "music + film + technology."

As "LABUBU" gained popularity, some users have discovered new business opportunities—renting out "LABUBU" series figurines on Idle Fish. Reporters found multiple sellers offering rental services for physical figurines using keywords like "LABUBU rental" and "Labubu rental" on the Idle Fish platform, mainly for scenarios such as photography, social display, and wedding arrangements.

The first charging station resulting from the collaboration between bp's electric vehicle charging brand bp pulse and XPeng Motors—Guangzhou Ju Hui Plaza Station—has officially opened. This station is the first project following the memorandum of understanding signed by both parties in January. Following the first station, three more cooperative stations will be established in Beijing, Guangzhou, and Shenzhen shortly.

Zhejiang Netcom Bank announced plans to fully redeem its "20 Netcom Bank Perpetual Bond 01" on July 10th, with a redemption amount of 2 billion yuan.

On June 12th, during the SNEC 2025 Photovoltaic Exhibition, Jinko Solar signed strategic cooperation agreements with China Electric Power Construction, DIWAN International, Mesol Solar, and Salim Winding, focusing on the global application of the new generation N-type TOPCon module Tiger Neo 3. This collective signing marks the module's capability for large-scale delivery to the global market, with the product ramp-up window period about to fully open.