Chinese Concept Stocks | Nasdaq Golden Dragon Index Falls 4.74% Amid Mixed Performance of Chinese Stocks
6min read On November 11 (Monday) Eastern Time, the three major U.S. stock indexes collectively closed higher. The S&P 500 index rose by 0.10% to 6001.35 points; the Dow Jones index increased by 0.69% to 44293.13 points; the Nasdaq index went up by 0.06% to 19298.76 points.
On November 8, the Nasdaq China Golden Dragon Index fell by 4.74%.
Regarding popular Chinese concept stocks, XPeng Motors rose by 5.73%, JD.com increased by 1.75%, Alibaba went up by 1.33%, NetEase rose by 1.11%, Bilibili increased by 0.71%, Taiwan Semiconductor fell by 3.55%, Baidu decreased by 0.76%, Pinduoduo declined by 0.56%, and NIO dropped by 0.20%.
In terms of continuously rising Chinese concept stocks, Zhongchi Chufu rose by 15.02% for 9 consecutive days, with a cumulative increase of 106.38%. Metaverse Holdings increased by 5.32% for 5 consecutive days, with a cumulative rise of 16.07%. Lotus Technology went up by 1.10% for 4 consecutive days, with a cumulative increase of 8.49%. Global Lights rose by 0.19% for 4 consecutive days, with a cumulative increase of 0.33%. GD Culture Group increased by 39.02% for 4 consecutive days, with a cumulative rise of 68.88%.
As for continuously declining Chinese concept stocks, Huaxin Technology fell by 1.90% for 6 consecutive days, with a cumulative decrease of 34.39%. Fresh2 Group decreased by 13.53% for 6 consecutive days, with a cumulative decline of 43.63%. iQIYI dropped by 1.71% for 4 consecutive days, with a cumulative decrease of 10.85%. Donis fell by 9.66% for 4 consecutive days, with a cumulative decline of 21.64%. Zhihu decreased by 0.30% for 4 consecutive days, with a cumulative decline of 5.92%. Connect Biopharma fell by 6.25% for 4 consecutive days, with a cumulative decline of 15.32%. Taihecheng Medical dropped by 6.39% for 4 consecutive days, with a cumulative decline of 35.06%. Youpin Cars decreased by 9.19% for 4 consecutive days, with a cumulative decline of 15.35%. Meihua International fell by 7.18% for 4 consecutive days, with a cumulative decrease of 23.08%. Sound Group dropped by 3.47% for 4 consecutive days, with a cumulative decline of 12.11%. Happy decreased by 7.88% for 4 consecutive days, with a cumulative decline of 28.64%.
Tmall Double 11: 589 brands achieved sales exceeding 100 million yuan, a year-on-year increase of 46.5%, setting a new record. As of 24:00 on November 11, 2024, Tmall Double 11 ended with strong growth in total sales and a record number of purchasing users. Throughout the Tmall Double 11 period, 589 brands achieved sales exceeding 100 million yuan, a year-on-year increase of 46.5%, setting a new record.
JD.com 11.11 shopping users increased by over 20% year-on-year, and JD.com procurement and sales live broadcast orders increased by 3.8 times year-on-year. According to JD.com's announcement, as of 23:59 on November 11, 2024, the number of JD.com 11.11 shopping users increased by over 20% year-on-year, and JD.com procurement and sales live broadcast orders increased by 3.8 times year-on-year. The sales of more than 17,000 brands increased by more than 5 times year-on-year, and the sales of more than 30,000 small and medium-sized businesses increased by more than 2 times year-on-year.
Former XPeng parking regulation control head Liu Yi joins BYD to lead self-developed intelligent driving regulation control. Recently, Liu Yi, the former head of XPeng's parking regulation control business, has joined BYD to lead the self-developed intelligent driving regulation control business, reporting to Li Feng, the head of the self-developed intelligent driving team.
Kingsoft Cloud: Signing a financing lease agreement worth 250 million yuan. Kingsoft Cloud announced that its wholly-owned subsidiary Beijing Kingsoft Cloud Network Technology Co., Ltd. entered into a financing lease agreement with CITIC Financial Leasing Co., Ltd. on November 11, 2024. According to the agreement, CITIC Financial Leasing agrees to provide financing lease services to Kingsoft Cloud Network through the sale and leaseback of certain servers, with a total financing lease principal of 250 million yuan. The agreement period is 3 years, with an initial annual interest rate of 4.35%. The company believes that the signing of the agreement will supplement operating funds, broaden the company's financing channels, increase the company's liquidity sources, and optimize capital structure.
Indonesian tech giant GoTo: Signing agreements with Tencent Cloud and Alibaba Cloud to promote Indonesian cloud infrastructure and digital talent development. On November 10, Indonesian tech giant GoTo announced that it has signed agreements with Tencent Cloud and Alibaba Cloud to promote the development of Indonesian cloud infrastructure and digital talent. According to the statement, Tencent Cloud has committed to investing approximately $500 million in Indonesia by 2030, involving infrastructure, resources, and new investments. In addition, to further strengthen Indonesia's cloud infrastructure, Tencent Cloud is establishing its third internet data center in the country. The statement also mentioned that Alibaba Cloud currently has three data centers in Indonesia and is cooperating with local institutions to train nearly 400,000 cloud computing and artificial intelligence talents. Alibaba Cloud plans to double this number to 800,000 by 2033 and will establish a skills center at Indonesian universities to provide professional training.
The third approved market-oriented personal credit information agency announced: Ant Group holds 35% shares. The People's Bank of China's "Public Information Table on the License for Establishing Personal Credit Information Business Institutions" shows that Qiantang Credit Information Co., Ltd. has become the third approved market-oriented personal credit information agency after Baihang Credit and Pudao Credit. It is reported that Qiantang Credit Information Co., Ltd. is a personal credit information agency jointly participated by state-owned capital and private capital, with Ant Group holding a 35% stake, tied as the largest shareholder with Zhejiang Tourism Investment Group Co., Ltd.
Inpower: Signing a strategic cooperation agreement with Ehang Intelligent. Inpower announced that the company signed a "Strategic Cooperation Agreement" with Ehang Intelligent on November 11, 2024. Both parties will focus on developing the low-altitude economy in urban air transportation, especially in the research and industrialization of eVTOL product power systems. The agreement is valid for three years, and specific cooperation projects and amounts will be subject to the final agreement signed by both parties. Inpower will provide Ehang Intelligent with motor products that meet its technical specifications, while Ehang Intelligent will be responsible for the complete installation and sales of the products.
Tmall PR Director responds to Ralph Lauren's "high return rate" reports: Rumors and exaggerations. Tmall PR Director Lippi stated that the Ralph Lauren brand flagship store performed very well during Double 11. So far, the reports and comments about "order combination causing high return rates" have not included any interviews or verifications with the platform or brand. The so-called "high return rate" figures are purely rumors and exaggerations. Lippi urged certain individuals not to copy internet posts for writing articles and to experience more of real life, where there is truly valuable news. Lastly, Lippi advised against casually teaching others how to do business. If someone is genuinely interested in gaining commercial experience, they can start by selling one or two idle items on Xianyu.
JD.com: Procurement and sales to receive 20 months' salary, 2025 campus recruitment also offers 20 months' salary. After news emerged that JD.com would gradually increase salaries for procurement and sales positions to 20 months, JD.com Technology also announced that technical research and development positions would receive an average salary of 20 months, significantly higher than the previous 16-month level in the cloud computing industry. On social media, students who received offer letters expressed excitement, calling it "extremely generous." This "counter-trend salary increase" is attributed to growth opportunities brought by industry growth points such as big models, as well as JD.com Technology's emphasis and investment in technical talents. In early September, JD.com announced its largest campus recruitment plan, offering 18,000 positions for students, and also announced that the salaries for 2025 campus recruits in core positions such as procurement, technology, and products would be increased by no less than 20%.
He Xiaopeng: XPeng MONA M03 opens official custom color change service, starting at 2,990 yuan. XPeng Motors Chairman He Xiaopeng announced that the XPeng MONA M03 has opened official custom color change services, starting at 2,990 yuan, with support for points exchange. Poster information shows that the color change service offers more than 50 color options, with four series including glossy, high-gloss, metallic/pearlescent, and ceramic/electro-optical to meet different customization needs, protecting the original factory paint and leaving no adhesive residue when peeled off.
Tmall Double 11 quality live broadcasts explode, with over 100 live rooms exceeding 100 million yuan. Tmall Double 11 witnessed a continued explosion of quality live broadcasts. As of 0:00 on November 11, Taobao live broadcast sales in over 100 live rooms exceeded 100 million yuan, setting a new record. Among them, 32 live rooms achieved over 100% year-on-year growth. In addition, this year's Double 11 saw significant year-on-year growth in the overall transaction amount and the number of purchasing users for Taobao live broadcasts. This year, consumers and brands have fully shifted to quality live rooms. Professional broadcasters have gained strong momentum, with many influencers achieving over 100 million yuan in sales for the first time during Double 11; brand official goods have shown significant growth, with CRD Clair De Lune Tmall Official Flagship Store, vivo Mobile Official Flagship Store, and Lululemon Official Flagship Store all achieving multiple times growth year-on-year.
In 2025, Intel's Lunar Lake and Arrow Lake chipsets will expand the outsourcing of TSMC's 3nm process. In 2025, Intel plans to expand the outsourcing of TSMC's 3nm process for its Lunar Lake and Arrow Lake chipsets.
XPeng Motors announces tiered crowdfunding for model-specific chip upgrades: Successful fundraising leads to immediate development, unsuccessful campaigns are refunded. On November 11, XPeng Motors announced the launch of the industry's first crowdfunding for chip upgrades, from November 11, 2024, to December 12, 2024. The initiative will use a tiered crowdfunding approach, and once the target number is reached, preparations for the corresponding model will begin.
Tmall Double 11: Over 1,100 Tmall 3C digital brands double their sales. According to reports, this year's Tmall Double 11 saw strong growth in the 3C digital industry, driven by new product launches. As of 0:00 on November 11, 34 3C digital brands, including Apple, Xiaomi, Huawei, OPPO, Sony, Fujifilm, DJI, Nintendo, Little Genius, and Topzoo