Chinese Concept Stocks | Nasdaq Golden Dragon Index Falls as NIO, XPeng Decline; Pinduoduo Gains

On January 23rd (Thursday), Eastern Time, the three major U.S. stock indices collectively closed higher. The S&P 500 Index rose by 0.50% to 6116.84 points; the Dow Jones Index increased by 0.89% to 44549.04 points; and the Nasdaq Index gained 0.15% to 20038.39 points.

On January 22nd, the Nasdaq Golden Dragon China Index fell by 0.66%.

Regarding popular Chinese concept stocks, Pinduoduo rose by 0.90%, Bilibili increased by 0.74%, TSMC was up by 0.62%, NIO fell by 3.39%, XPeng Motors decreased by 2.10%, JD.com dropped by 1.07%, Baidu declined by 0.52%, Alibaba fell by 0.36%, and NetEase decreased by 0.07%.

The following companies have seen consecutive gains among Chinese concept stocks: Global Lights increased by 0.19% over 13 consecutive days with a cumulative rise of 0.75%; BeiGene rose by 0.01% over 8 days with a cumulative increase of 25.77%; Eureka Acquisition gained 0.10% over 8 days with a cumulative rise of 0.20%; Lu Control rose by 0.36% over 7 days with a cumulative increase of 20.78%; EHang Holdings increased by 1.49% over 7 days with a cumulative rise of 13.37%; Monster Charging rose by 1.77% over 7 days with a cumulative increase of 16.75%; and Mingting increased by 0.72% over 7 days with a cumulative rise of 22.95%.

The following companies have seen consecutive declines among Chinese concept stocks: Mengyun Holography fell by 3.01% over 8 consecutive days with a cumulative decline of 27.48%; Smart Charging decreased by 0.44% over 6 days with a cumulative decline of 33.73%; Keba Technology dropped by 0.32% over 6 days with a cumulative decline of 15.27%; Baijia Cloud fell by 5.75% over 5 days with a cumulative decline of 25.45%; and Yidianxing decreased by 7.51% over 5 days with a cumulative decline of 22.03%.

China's new energy storage is rapidly developing, and institutions are optimistic about its future development. In 2024, "developing new energy storage" was included in the government work report for the first time. The recently implemented "Energy Law of the People's Republic of China" mandates the promotion of high-quality new energy storage development and the role of various energy storage in regulating power systems. According to China International Capital Corporation, energy storage is one of the fastest-growing and most cost-effective sectors in the electric power industry. With increasing duration and the rise of independent energy storage, its growth trajectory is becoming clearer and is expected to exceed expectations. Recently, European electricity prices have risen, and shipments in Asia, Africa, and Latin America have also resumed. The outlook for the domestic market in 2024 shows new installations exceeding 70 GWh, a year-on-year increase of nearly 65%. Looking ahead to 2025, although domestic photovoltaic growth may slow, the contribution of energy storage to power station returns is expected to increase, with a corresponding increase in the proportion and duration of storage, maintaining a growth rate of around 30%.

Pinduoduo released the "2025 New Year's Eve Dinner Report," which indicates that New Year's goods are accelerating their westward trend, with dumpling orders in western regions growing by 371%. The report shows that the taste of New Year's Eve dinners is further merging between the North and South regions, and there is a growing demand for premium fruits and seafood in rural areas and counties. Essential Northern New Year dishes like dumplings, yam, and Chinese cabbage are popular in Southern regions. Young people in small towns remain the fastest-growing group for seafood consumption, and rural New Year's Eve dinners are becoming more sumptuous. Before the Spring Festival, seasonal vegetables and fruits are at their peak consumption, with garlic, chili peppers, winter bamboo shoots, yams, and leafy greens being the top five best-selling vegetables. There is a clear trend of "Southern vegetables moving North, Northern vegetables moving South" in the consumption of dumplings and snacks, with dumpling sales in the South increasing by 75% year-on-year, and cabbage and pork dumplings becoming a unified taste for both North and South.

Alibaba Cloud's Chief Technology Officer, Zhou Jingren, has been elected as a 2024 ACM Fellow. The Association for Computing Machinery (ACM) announced the latest list of fellows, and Zhou Jingren was recognized for his significant contributions in the fields of cloud computing and query processing.

Li Auto announced on its Weibo account that the overtime occupancy fee at Li Auto's supercharging stations has officially started operation. Since the trial operation, the occupancy situation at pilot stations has significantly improved. From now on, the overtime occupancy fee policy will be gradually implemented at Li Auto's supercharging stations in all cities.

On January 23, Tianfeng International Securities analyst Ming-Chi Kuo reported that the latest supply chain survey indicates that TSMC's advanced packaging technology, COUPE (Compact Universal Photonic Engine), has significantly improved in development and supply chain visibility. Himax Technologies has been confirmed as the exclusive supplier for the first and second generations of COUPE microlens arrays. The first generation of COUPE has been developed and has started mass production validation, with the second generation expected to begin mass production validation in the first half of 2026. Among TSMC's major customers, AMD is likely to be the first to adopt COUPE.