Chinese Concept Stocks | Nasdaq Golden Dragon Index Rises 0.60% as NIO and TSMC Lead Gains

On November 29th, Eastern Standard Time (Friday), the three major U.S. stock indices collectively closed higher. The S&P 500 index rose by 0.56%, closing at 6032.38 points; the Dow Jones index increased by 0.42%, reaching 44910.65 points; and the Nasdaq index went up by 0.83%, closing at 19218.17 points.

On November 29th, the Nasdaq Golden Dragon China Index rose by 0.60%.

Regarding popular Chinese stocks, NIO rose by 2.51%, TSMC increased by 1.99%, Bilibili went up by 1.59%, XPeng Motors rose by 1.18%, NetEase increased by 1.06%, Alibaba went up by 0.91%, JD.com increased by 0.51%, Baidu rose by 0.27%, while Pinduoduo fell by 2.27%.

As for consecutively rising Chinese stocks, Xiaoying Technology increased by 4.41% over 11 days with a cumulative rise of 24.06%, Amer Sports rose by 1.78% over 9 days with a cumulative increase of 36.21%, Hesai surged by 11.29% over 9 days with a cumulative rise of 100.49%, Yatsen E-commerce grew by 5.02% over 8 days with a cumulative increase of 29.05%, and Stellar Fashion rose by 2.19% over 8 days with a cumulative rise of 31.22%.

For consecutively declining Chinese stocks, Kaisa Yueda fell by 4.28% over 8 days with a cumulative decline of 32.38%, ACM Research dropped by 0.46% over 5 days with a cumulative decrease of 10.38%, Zhenkunhang decreased by 2.34% over 5 days with a cumulative drop of 12.34%, E-Lon Energy fell by 6.43% over 5 days, Akso Health decreased by 1.89% over 4 days with a cumulative drop of 11.41%, Libang Kitchenware fell by 3.94% over 4 days with a cumulative decrease of 14.32%, and Yuehang Sunshine decreased by 5.78% over 4 days with a cumulative drop of 20.36%.

On November 29th, the China Meteorological Administration, in collaboration with Alipay, launched the first national-level weather intelligence assistant, the "China Weather Assistant," which provides authoritative meteorological data from the China Meteorological Administration. It offers users various meteorological services such as weather inquiry, clothing recommendations, and meteorological science. Users can access it by pulling down on the Alipay homepage or downloading the Zhixiao App.

Yu Minhong, founder of New Oriental and CEO of Oriental Selection, and Dong Mingzhu, Chairman and President of Gree Electric, appeared together in a live broadcast at Gree's Zhuhai headquarters. Yu Minhong stated that outstanding entrepreneurs are not divided by gender, but Dong Mingzhu has remarkably persevered throughout her life, rising from a salesperson to the helm of a large company for decades. Her growth demonstrates the infinite possibilities available to young people when they work earnestly and have a broad perspective. Yu humorously added, "My possibilities are limited by some of my actions; I like to take three steps forward and one step back, but later I realized Sister Dong takes three steps forward and looks ten steps ahead."

As the end of the year approaches, boosting sales has become a major focus for each car company. On November 29th, Li Auto announced a limited-time zero-interest policy for the end of the year, offering a 3-year zero-interest financial plan for purchases of the Li L series and Li MEGA from November 29th to December 31st, 2024. The minimum down payment amounts for single models are 159,800 yuan for Li MEGA, 129,800 yuan for Li L9, 99,800 yuan for both Li L8 and Li L7, and 69,800 yuan for Li L6. In the automobile market, the higher the sales, the more price reductions can drive market prices to follow. In October this year, Li Auto remained the stable sales champion among new car-making forces, delivering a total of 51,400 new cars, a year-on-year increase of 27.3%. Additionally, several car companies, including Tesla and NIO, have previously launched price reduction activities, and a new round of price wars may soon arise. Coupled with national scrapping updates and local trade-in policy subsidies, experts expect that the car market will not only grow month-on-month and year-on-year in November but also possibly experience a tail-end surge in December.

On November 29th, multiple sources confirmed that Alibaba's founder, Jack Ma, appeared at the Alibaba campus. Furthermore, circulating photos show Jack Ma holding coffee and taking pictures with several Alibaba employees. Alibaba has not yet responded to inquiries regarding this matter.

MINISO announced through the Hong Kong Stock Exchange that its revenue for the first three quarters was 12.281 billion yuan, a year-on-year increase of 22.8%.

On November 29th, there were online rumors about mass layoffs in NetEase's Shenzhen game department. A person close to NetEase responded that this adjustment took place a few months ago and was a routine adjustment for a single product. Many colleagues have already transferred internally to other products, and the claim of mass layoffs is definitely false.

On November 29th, reports surfaced about layoffs in the team responsible for "Operation Apocalypse" (known overseas as "Hyper Front"), a shooting game developed and operated by a relatively small team within NetEase Games, not involving the core teams in Guangzhou and Hangzhou. "Operation Apocalypse" is NetEase's first self-developed 5V5 multi-hero skill shooting mobile game. Despite achieving over ten million reservations, its best ranking was only 118th on the iOS game sales chart. After operating for just 45 days domestically, "Operation Apocalypse" announced on October 14th that it would cease operations on December 12th, 2024. A source close to NetEase mentioned, "If the project isn't profitable, layoffs are inevitable." The game was also embroiled in plagiarism allegations, having been sued by Riot Games, a subsidiary of Tencent Games, for copyright infringement as early as December 2022.

Recently, online rumors suggested that NetEase's Shenzhen branch underwent mass layoffs, "leaving no one behind," mainly affecting the game business department. On November 29th, a person close to NetEase explained that this was an adjustment made a few months ago for a single product, and many colleagues have already been internally transferred to other products. The claim of mass layoffs is definitely false.

Today, Li Auto announced a year-end limited-time zero-interest policy, offering a 3-year zero-interest financial plan for purchases of the Li L series and Li MEGA from November 29th to December 31st, 2024. The minimum down payment amounts for single models are 159,800 yuan for Li MEGA, 129,800 yuan for Li L9, 99,800 yuan for both Li L8 and Li L7, and 69,800 yuan for Li L6.

On November 29th, according to Taobao, the platform will introduce new "Taobao Platform Automotive Parts Commodity Dispute Handling Specifications." This rule change will be publicized on November 27th, 2024, and will take effect on December 4th, 2024. Taobao stated that to clarify the dispute resolution standards for automotive parts transactions on the Taobao platform and reduce disputes arising from after-sales issues, it has formulated these specifications based on the "Taobao Platform Rules General Provisions" and "Taobao Platform Dispute Handling Rules." According to the announcement, products supporting seven-day no-reason returns can be returned and refunded without affecting the product's integrity (for oil products: the seal/cap is intact, and the anti-counterfeiting barcode is not broken or damaged; for non-oil products: no installation or usage traces), with the return shipping cost borne by the buyer.