Chinese Concept Stocks | Nasdaq Golden Dragon Index Gains as Baidu, NetEase Rise; TSMC and NIO Fall

On March 26th (Wednesday), Eastern Time, the three major U.S. stock indices collectively closed down. The S&P 500 index fell by 1.12%, closing at 5712.20 points; the Dow Jones index fell by 0.31%, closing at 42454.79 points; and the Nasdaq index fell by 2.04%, closing at 17899.01 points.

On March 26th, the Nasdaq China Golden Dragon Index rose by 0.72%.

Regarding popular Chinese stocks, Baidu rose by 2.22%, NetEase rose by 1.05%, JD.com rose by 0.75%, Bilibili rose by 0.67%, TSMC fell by 4.09%, NIO fell by 3.76%, Pinduoduo fell by 2.22%, XPeng Motors fell by 1.29%, and Alibaba fell by 0.38%.

Chinese Stocks on a Winning Streak: Eureka Acquisition rose by 0.19% for 19 consecutive days with a cumulative rise of 0.81% during the period; Zhongchi Chafu rose by 0.57% for 19 consecutive days with a cumulative increase of 38.61%; Jinsheng Amusement rose by 12.07% for 6 consecutive days with a cumulative rise of 281.25%; The9 Limited rose by 2.57% for 6 consecutive days with a cumulative increase of 14.15%; Huiyang New Energy rose by 0.50% for 5 consecutive days with a cumulative increase of 11.67%.

Chinese Stocks on a Losing Streak: Huize fell by 3.64% for 6 consecutive days with a cumulative decline of 18.96%; Libang Kitchenware fell by 5.43% for 6 consecutive days with a cumulative decline of 26.06%; Yueshang Holdings fell by 4.54% for 6 consecutive days with a cumulative decline of 20.02%; Blue Hat fell by 10.29% for 6 consecutive days with a cumulative decline of 46.33%; Alibaba fell by 0.38% for 5 consecutive days with a cumulative decline of 7.65%; Trip.com fell by 0.88% for 5 consecutive days with a cumulative decline of 5.81%; XPeng Motors fell by 1.38% for 5 consecutive days with a cumulative decline of 12.94%; Jinko Solar fell by 0.82% for 5 consecutive days with a cumulative decline of 13.59%; Qudian fell by 0.37% for 5 consecutive days with a cumulative decline of 9.83%; DouYu fell by 0.13% for 5 consecutive days with a cumulative decline of 8.64%; Thunder Energy fell by 2.13% for 5 consecutive days with a cumulative decline of 55.92%; Energy Chain fell by 3.26% for 5 consecutive days with a cumulative decline of 26.22%; Abits Group fell by 1.54% for 5 consecutive days with a cumulative decline of 16.88%.

Chinese Stock News:

Star Map Weathernet has officially entered into a deep cooperation with AutoNavi. Star Map Weathernet aims to empower smart travel with meteorological technology by deeply integrating its self-developed eTAPES Super-Grider high-precision intelligent weather grid system into the AutoNavi APP navigation scene, providing users with more precise and practical navigation experiences, ushering in a new era of high-precision weather forecast navigation. In the future, Star Map Weathernet will further expand its cooperation with AutoNavi, planning to conduct deep cooperation in AI large model forecasting and social observation, further achieving "localized precision" weather forecasts.

Baidu AI Cloud's Kunlun Chip has won a major computing power project from China Merchants Bank. Based on this project, the Kunlun Chip P800 will support the implementation of large model applications across multiple core business scenarios for China Merchants Bank. Recently, Baidu AI Cloud was the first in China to activate the Kunlun Chip P800 ten thousand card cluster and announced plans to further activate the 30,000 card cluster.

At the Tmall 2025 TopTalk Super Brand Private Sharing Conference, Xiaomi Group Vice President and President of China Wang Xiaoyan revealed that since the beginning of this year, Tmall has increased its investment in new product resources, accelerating the growth cycle of new products through homepage recommendations, search weighting, and live streaming subsidies. Under the dual boost of Tmall's brand momentum and national subsidy policy, Xiaomi achieved a 50% year-on-year increase on Tmall in the first quarter of 2025, setting a historical record. The Xiaomi 15 Ultra first launch transaction exceeded one billion, ranking first in new product transactions, with a 50% increase in Tmall's first month sales compared to the previous generation.

On March 26th, China Mobile and Alibaba held a strategic cooperation agreement signing ceremony in Beijing. China Mobile Chairman Yang Jie and Alibaba CEO Wu Yongming attended the signing ceremony. China Mobile Deputy General Manager Chen Huaida and Alibaba Public Affairs President Wen Jia signed the agreement on behalf of both parties. According to the agreement, the two parties will conduct in-depth cooperation in digital infrastructure, application ecosystem, scientific and technological innovation capabilities, and international business, jointly building and operating advanced AI data centers, helping both parties enhance the scale and efficiency of cloud computing and AI services, deepening the technical exchange and ecological co-construction of China Mobile's "Jiutian" and Alibaba's "Tongyi Qianwen" AI models, promoting the deep integration of AI with various industries, and creating greater industrial value. This signing marks a new stage of comprehensive strategic cooperation between the two parties based on the new momentum of cloud, computing power, and large models to build a new AI industry ecosystem.

Zhihu announced that its total revenue for 2024 was RMB 3.599 billion, a year-on-year decrease of 14.5%. The gross profit margin increased from 54.7% in 2023 to 60.6%. The net loss was RMB 169 million, compared to a net loss of RMB 839 million in the previous year. The adjusted net loss was RMB 96.3 million, compared to an adjusted net loss of RMB 659 million in the previous year.

On March 26th, Tmall announced the latest business strategy for 2025: fully supporting high-quality brands and original brands, fully opening incentive policies, and expanding brand growth. Tmall also disclosed that the current annual active buyers on the Taobao system have reached 1 billion. In 2024, more than 4,100 brands on the platform achieved sales exceeding one billion, a year-on-year increase of 18%; 34,000 super products achieved sales exceeding ten million. Last year's annual active buyers on Taobao Live increased by 38% year-on-year.

On March 25th, at the JD Finance "AI Reshape·Embrace Trend" Wealth Management Summit, a JD Finance representative stated that it will fully leverage JD's ecological scene advantages and supply chain cost advantages to vigorously develop "scene finance," closely integrating wealth management with life scenes. In learning, shopping, family, high-end consumption, and enterprise operation scenes, users will enjoy more convenient and high-quality experiences while pursuing "inflation" gains, truly achieving "wealth management is life."

On March 26th, NIO and Beijing Future Science City Development Group Co., Ltd. signed a strategic cooperation agreement to conduct in-depth cooperation in new energy vehicle innovation, service ecosystem construction, and green energy swap network construction. The two parties plan to jointly build 100 green energy swap stations and initially cooperate in Beijing's Changping District, creating an integrated benchmark demonstration project for production, charging, use, and swapping through green electricity utilization, swap station energy replenishment, and new energy vehicle charging and swapping application scenarios.

In March 2025, in the first round of the Trusted AI Large Model Integrated Machine Performance Evaluation organized by the China Academy of Information and Communications Technology, Baidu's Qianfan Large Model Integrated Machine successfully completed the Trusted AI Large Model Integrated Machine Performance Evaluation, becoming the first enterprise in China to pass the Trusted AI Large Model Integrated Machine Performance Evaluation, covering multiple performance indicators such as throughput, 1st token latency, and QPS. Previously, Baidu's Qianfan Large Model Integrated Machine had completed the Trusted AI Large Model Integrated Machine Functional Evaluation.

On March 26th, during a routine press conference held by the Taiwan Affairs Office of the State Council, a CCTV reporter asked about TSMC Chairman Wei Zhejia announcing further investment in the United States, following which U.S. President Trump added to the investment amount. How does the spokesperson comment on the Democratic Progressive Party's optimistic attitude towards TSMC's "entire chain move"? Spokesperson Chen Binhua stated that under the Democratic Progressive Party's active catering and giving away, TSMC has become a piece of fat on the chopping board at the mercy of others. The Democratic Progressive Party's optimism about TSMC turning into "American Semiconductor Manufacturing Corporation" shows that they only care about their own party and personal interests, completely disregarding the well-being of Taiwanese people and the interests of the industry. For the sake of "seeking independence by leaning on foreign forces," they are only getting further down the path of "selling Taiwan" and "destroying Taiwan." Taiwan's industry and people will not only lose their current jobs but also future development opportunities. It is natural for the island's society to question and be filled with concerns about Lai Ching-de's abuse of power as a "professional Taiwan seller."

There are rumors today that BMW and Alibaba will deepen their AI cooperation, with Alibaba's Tongyi large model to be applied in BMW's new generation series of models in the Chinese market. Both parties have not yet responded.

According to reports, Ant Group has recently reduced its holdings in Orbbec and YongAn Hang, generating more than RMB 775 million in investment returns, attracting market attention. This reduction is based on a strategic direction adjustment, with Ant redirecting funds towards cutting-edge technology fields such as artificial intelligence, supporting new generation technology innovation. Ant's investment strategy remains guided by company strategy, focusing on AI large models, AI computing power, embodied intelligence, and other directions, having invested in multiple related enterprises. Ant emphasizes long holding periods, ecological collaboration, and promoting technological innovation through investment to create more value for society.