Chinese Concept Stocks | Nasdaq Golden Dragon Index Falls as Nio and XPeng Lead Declines

On March 20th, Eastern Time (Thursday), all three major U.S. stock indices closed down. The S&P 500 index fell by 0.22%, closing at 5662.89 points; the Dow Jones index fell by 0.03%, reporting 41953.32 points; and the Nasdaq index fell by 0.33%, closing at 17691.63 points.

On March 20th, the Nasdaq China Golden Dragon Index fell by 3.84%.

Regarding popular Chinese concept stocks, Pinduoduo rose by 3.97%, TSMC increased by 2.13%, NIO dropped by 8.70%, XPeng Motors fell by 7.21%, Bilibili declined by 5.09%, Alibaba decreased by 4.38%, JD.com fell by 4.13%, Baidu dropped by 4.04%, and NetEase decreased by 1.90%.

In terms of consecutive rising Chinese concept stocks: Zhongchi Chefu rose by 10.89% over 11 consecutive days, with an increase of 26.48% during this period; Ruitu Ecology increased by 1.42% over 8 consecutive days, with a growth of 28.53% during this period; Lixiang Education rose by 2.60% over 6 consecutive days, with an increase of 15.98% during this period; Haoxi Health increased by 11.93% over 6 consecutive days, with a growth of 27.10% during this period; Yinlifu rose by 15.08% over 5 consecutive days, with an increase of 41.36% during this period; Mogu Street increased by 1.43% over 5 consecutive days, with a growth of 13.90% during this period; Shanggao Life Sciences rose by 8.00% over 5 consecutive days, with an increase of 42.89% during this period.

In terms of consecutive declining Chinese concept stocks: Alliance fell by 7.01% over 5 consecutive days, with a decrease of 24.60% during this period; Zeekr declined by 7.22% over 4 consecutive days, with a decrease of 16.11% during this period; Pony.ai fell by 0.40% over 4 consecutive days, with a decline of 10.20% during this period; 21Vianet dropped by 10.05% over 4 consecutive days, with a decrease of 23.95% during this period; Zhongjin Tech fell by 2.40% over 4 consecutive days, with a decline of 8.96% during this period; Rockchip decreased by 2.52% over 4 consecutive days, with a decline of 9.53% during this period; MicroAlgo fell by 12.61% over 4 consecutive days, with a decrease of 23.15% during this period; Jiuzhou Pharmacy dropped by 4.10% over 4 consecutive days, with a decline of 10.74% during this period; Yunji decreased by 1.20% over 4 consecutive days, with a decline of 5.56% during this period; Zhongbei Energy fell by 2.76% over 4 consecutive days, with a decline of 6.19% during this period; Tianmei Bio dropped by 25.78% over 4 consecutive days, with a decrease of 81.94% during this period.

Pinduoduo Zhao Jia: Launches multiple measures like abnormal order warnings to promote net transactions for merchants

On March 20th, Pinduoduo released its Q4 and full-year financial report for 2024. During the earnings call, Pinduoduo Group Executive Director and Co-CEO Zhao Jia stated that in early January, Pinduoduo established a Merchant Rights Protection Committee to collect merchant feedback and optimize merchant operating experience and service mechanisms, further improving the platform's ecosystem construction. "We have introduced several measures such as abnormal order warnings, low-price risk warnings, and upgraded services to support merchants with more refined data, continuously assisting merchants in improving their production ratio. Recently, we have also established a regular communication mechanism with merchants and held the first merchant symposium. After thorough exchanges, we launched four major upgraded measures including the violation operation warning function, continuously increasing the protection of merchant rights," Zhao Jia said.

Pinduoduo Chen Lei: Employing the "nail spirit" to deeply advance the high-quality development strategy

On March 20th, Pinduoduo released its Q4 and full-year financial report for 2024. Over the past year, Pinduoduo's high-quality development strategy has entered the comprehensive deepening stage, with over ten million merchants achieving quality and efficiency improvement under the "Billion Reduction" policy. "E-commerce westward" has driven double-digit growth in orders from the western region. The first batch of projects under the "New Quality Merchant Support Plan" has assisted thousands of agricultural and pastoral areas and industrial clusters in gradually transitioning to the "new quality supply" development stage. During the earnings call, Pinduoduo Group Chairman and Co-CEO Chen Lei stated that in 2025, they will continue to implement the high-quality development strategy with "nail spirit," leveraging the platform's digital advantages to expand the upward scale of "new quality supply," continuously benefiting consumers' beautiful lives and fully building a win-win ecosystem for users, merchants, and the platform.

Contemporary Amperex Technology Co., Limited (CATL) continues to invest in NIO: After 2.5 billion, it will further invest in WeEnergy

CATL's battery swapping business is rapidly expanding. Recently, CATL has reached a strategic cooperation with NIO, investing no more than 2.5 billion yuan in NIO Energy. However, CATL plans to continue to bet on battery swapping. According to sources, CATL will further invest in NIO-related battery asset company Wuhan Weineng. "But the amount will not be as large as the 2.5 billion for NIO Energy." Wuhan Weineng is a battery asset management company related to NIO. Under NIO's BaaS (Battery as a Service) mode, the user's battery asset management is handled by NIO's Wuhan Weineng, while the operation and maintenance of battery swapping are in NIO Energy. Because it holds battery assets, Wuhan Weineng is also known as NIO's "battery bank."

Trip.com: 2024 inbound tourism market shows explosive growth, ticket sales surge by 595% year-on-year

On March 20th, Trip.com's attractions and entertainment department released the "2024 China Inbound Tourism Market Observation," showing explosive growth in the inbound tourism market, with ticket sales surging by 595% year-on-year; one-day tour orders increased by over ten times; Gen Z tourists accounted for over 30%, and the female consumer group continued to expand. Cultural experience products have become a new growth engine, with bookings for intangible cultural heritage workshops and folk performances soaring by 300%.

Pinduoduo 2024 Q4 revenue is 110.61 billion yuan, market expectation is 116.03 billion yuan

Pinduoduo announced its financial report, with fourth-quarter revenue of 110.61 billion yuan, estimated at 116.03 billion yuan; adjusted net profit of 29.85 billion yuan, estimated at 28.6 billion yuan; fourth-quarter adjusted earnings per ADS of 20.15 yuan, estimated at 19.68 yuan.

Huazhu Group: Net profit for 2024 is 3 billion yuan, down 26.83% year-on-year

Huazhu Group announced that for the full year of 2024, the net profit attributable to Huazhu Group Limited was 3 billion yuan (equivalent to 418 million USD), compared to 4.1 billion yuan for the full year of 2023, down 26.83% year-on-year. The decline was mainly due to foreign exchange losses, one-time restructuring costs for DH, and increased withholding taxes in 2024.

Feng Technology: Received development notification from XPeng Huitian

Feng Technology announced that the company recently received a development notification from Guangdong Huitian Aerospace Technology Co., Ltd. XPeng Huitian decided to choose the company as its supplier for high-voltage power batteries, high-voltage connectors, and low-voltage connectors for the next-generation prototype. Receiving this development notification is an important achievement for the company's long-term layout in the low-altitude economy, and it will help the company consolidate its advantageous position in the related field, injecting new momentum into the company's future growth.

BlackRock increases stake in Alibaba-W shares

Hong Kong Stock Exchange information shows that BlackRock's stake in Alibaba-W increased from 4.93% to 5.18% on March 17th.

DingTalk releases new AI entrepreneur support plan

On March 20th, DingTalk held the "AI Entrepreneur N Times" Ecological Innovation Conference in Beijing. At the conference, DingTalk released a series of new ecological policies to assist AI entrepreneurs and AI transformers: including exemption from commissions, exemption from entry deposits, and exemption from computing power costs, and providing support in sales, branding, technology, and investment, offering comprehensive assistance for ecological partners in AI application entrepreneurship and innovation.

Huawei releases the first dual-unit drop-shaped earphones

On the afternoon of March 20th, Huawei's dual-unit drop-shaped earphones FreeBuds 6 were officially released. The device adopts a full-curve drop design, being the industry's first to feature ultra-perceptive original sound dual units, supporting all-scenario two-way silent calls, and HarmonyOS smart functions.

Baidu and Huawei jointly launch the latest AI search model "Bai Kan Plan" on HarmonyOS

On March 20th, Huawei held the Pura Pioneer Ceremony and released a new form of mobile phone designed for the native HarmonyOS official version. As a HarmonyOS ecosystem partner, Baidu also announced at the conference that the latest AI search model "Bai Kan Plan" was launched on HarmonyOS, achieving a new breakthrough in hardware and software ecosystem. According to the plan, Baidu's AI search launched for HarmonyOS will undergo reconstruction in experience, content, and ecosystem.

Baidu security head: "Xie Guangjun's daughter unboxing incident" data was not leaked from Baidu

On the afternoon of March 18th, Baidu's security head, Chen Yang, made a statement on the company intranet, stating that after receiving a report, an investigation was conducted and notarized evidence was collected. The results showed that the data for the "Xie Guangjun's daughter unboxing incident" was not leaked from Baidu. Two points were mentioned: first, Baidu internally conducted data anonymization and pseudonymization processing, and permission separation was implemented, preventing anyone from having access to the data, including Xie Guangjun who did not have any database-related permissions. Second, through a simulated investigation of the incident's context, it was found that a large amount of personal information can be found in overseas social media groups, and much of the information is free.

JD.com debunks rumors of disbanding the brand department

On March 19th, it was reported that JD Group announced the disbandment of the group brand department, with duties and personnel shifted to the marketing department-platform marketing department to achieve streamlined organization and improve service business efficiency. In response, JD insiders stated that there might be some misunderstandings externally. In fact, the brand department is