Chinese Concept Stocks | Nasdaq Golden Dragon Index Rises 1.39% with Notable Gains in XPeng, Bilibili, and NetEase
AInvestMonday, Aug 19, 2024 6:31 pm ET
5min read
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On August 19 (Monday), Eastern Time, the three major U.S. stock indices collectively closed higher. The S&P 500 index rose 0.97% to 5608.25 points, the Dow Jones index rose 0.58% to 40896.53 points, and the Nasdaq index rose 1.39% to 17876.77 points.


On August 19, the Nasdaq Golden Dragon China Index rose 1.39%.


As for popular Chinese concept stocks, XPeng Motors rose 3.82%, Bilibili rose 3.40%, NetEase rose 2.94%, NIO rose 2.79%, Baidu rose 1.37%, Pinduoduo rose 1.22%, Alibaba rose 0.88%, JD.com rose 0.85%, and TSMC rose 0.50%.


Chinese Concept Stocks on a Winning Streak

The following companies have been on a winning streak: Youjia Insurance rose 6.82% over 9 consecutive days with a total increase of 239.60%, Zhenkunhang rose 8.43% over 9 consecutive days with a total increase of 37.40%, Flagship Auto rose 1.49% over 7 consecutive days with a total increase of 27.76%, Futu Holdings rose 1.64% over 6 consecutive days with a total increase of 7.35%, Viomi rose 3.50% over 6 consecutive days with a total increase of 40.95%, and Ankomon rose 4.72% over 6 consecutive days with a total increase of 35.37%.


Chinese Concept Stocks on a Losing Streak

The following companies have been on a losing streak: Huya fell 0.68% over 4 consecutive days with a total decrease of 14.15%, SOS fell 2.49% over 4 consecutive days with a total decrease of 5.23%, Enjoy Holdings fell 1.51% over 4 consecutive days with a total decrease of 4.29%, Fanhua fell 3.09% over 3 consecutive days with a total decrease of 6.93%, Huadi International fell 0.46% over 3 consecutive days with a total decrease of 5.42%, Blue Hat fell 7.02% over 3 consecutive days with a total decrease of 32.94%, Jiuzi Holdings fell 14.61% over 3 consecutive days with a total decrease of 28.75%, MKDWELL Tech fell 6.82% over 3 consecutive days with a total decrease of 22.15%, Bright Scholar fell 2.15% over 3 consecutive days with a total decrease of 8.87%, Tongcheng Tongmei fell 1.15% over 3 consecutive days with a total decrease of 5.51%, and ChinaNet Online fell 3.46% over 3 consecutive days with a total decrease of 15.91%.


Chinese Concept Stocks News

Over the past year, 73 new brands on Tmall Beauty have achieved sales exceeding 100 million yuan
On August 19, the Tmall Beauty Awards were held in Shanghai. Known as the "Oscars" of the beauty industry, this year's event marks the 10th anniversary of the awards. The number of participating brands doubled compared to last year, making it the largest scale in recent years, with awards becoming more valuable for industry and consumer reference. Mu Shan, General Manager of Taotian Group's FMCG Business Unit, stated that over the past year, 73 new brands on Tmall Beauty have achieved sales exceeding 100 million yuan, and the number of niche anchors has increased by 150%, showcasing the effectiveness of the "daily sales + major promotions" operation model.
Li Auto Legal Department: The vehicle that caught fire in a Huizhou underground parking lot was not a Li Auto product
On August 19, Li Auto's legal department issued a statement regarding a fire incident that occurred in an underground parking lot at the Xiangxieyuan community in Huicheng District, Huizhou City, Guangdong Province, on the morning of August 19. After the incident, numerous rumors about "Li Auto charging fire" appeared on various online platforms. At 6 PM, Huizhou Fire Department released the "Investigation Report on the Fire Incident in the Underground Parking Lot of Xiangxieyuan Community in Huicheng District, Huizhou," clarifying that "the fire was caused by thermal runaway of an electric vehicle battery, and the vehicle was sold on October 25, 2018." Li Auto's first product, Li ONE, was delivered to users at the end of 2019, confirming that the vehicle involved in the fire was not a Li Auto product.
NetEase Cloud Music "crashed": It may be related to the NetEase Curve system, and the team has experienced layoffs
Due to infrastructure failures, NetEase Cloud Music was unable to function properly on various platforms. Reporters from 21st Century Business Herald learned from several former NetEase technical staff that the technical failure of NetEase Cloud Music may be related to the Curve storage system. This system was developed by NetEase, and the team had experienced layoffs. In response, NetEase Cloud Music told 21st Century Business Herald reporters, "No database deletion, no escape, we are speeding up the repair." However, regarding issues related to the Curve team, related staff said they were not clear.
NetEase Cloud Music announces the fault has been gradually fixed and releases compensation plan
NetEase Cloud Music issued a statement regarding the infrastructure failure, stating that no database deletion or escape occurred and the fault has been gradually fixed. Additionally, NetEase Cloud Music announced a compensation plan: users can search for "Enjoy Music" on Cloud Music on August 20 from 0:00 to 24:00 to receive 7-day membership benefits.
NetEase Cloud Music fault has been fixed, insiders say the issue may have occurred during the migration process
Reporters logged into NetEase Cloud Music and found that features like daily recommended playlists, song playback, and searches were all functioning normally. At 3 PM today, NetEase Cloud Music's official Weibo stated, "Due to infrastructure failures, NetEase Cloud Music was unable to function properly on various platforms. We are speeding up the repair, we apologize for the inconvenience. Thank you for your patience." Insiders revealed that the issue might have occurred during the migration process. Many companies are moving from cloud computing to self-built data centers to reduce costs, and problems can easily arise during the migration process.
Futu: U.S. stock night trading resumes normal operations
Futu announced that the night trading of U.S. stocks has successfully completed the upstream system upgrade and verification work and will resume full trading of over 10,000 stocks from 8:00 AM Beijing time on August 20.
NetEase Cloud responds to false information about the fault: The current fault is unrelated to the data center
On August 19, in response to rumors such as "NetEase Cloud Music developer deleted the database and escaped" and "NetEase Cloud Music unable to search for songs," NetEase Cloud Music officially replied to the reporters from Beijing News, stating: "The current fault is unrelated to the data center, and the content is inaccurate." Reporters logged into NetEase Cloud Music and encountered issues such as "playlist loading failed" for daily recommended playlists and "failed to retrieve playback information" for song playback. When attempting searches, it displayed "server error."
XPeng Motors establishes a new sales and service company in Hefei
According to Tianyancha, recently, Hefei Pengxu Automobile Sales Service Co., Ltd. was established with Zhao Dawu as its legal representative. The company's registered capital is 5 million RMB, and its business scope includes the sale of new energy vehicles, automotive sales, sales of new energy vehicle accessories, tire sales, battery sales, micro-car rental business, and second-hand car brokerage. The company's equity panorama penetration chart shows that it is wholly owned by Hefei Pengzhi Automobile Sales Service Co., Ltd., which is a wholly-owned subsidiary of XPeng Motors Sales Co., Ltd.
NetEase Cloud Music responds to the "crash": It is due to infrastructure failure and is being urgently repaired
On the afternoon of August 19, NetEase Cloud Music issued a statement, "Due to infrastructure failure, NetEase Cloud Music was unable to function properly on various platforms. We are urgently repairing it, and we apologize for the inconvenience. Thank you for your patience."
Ant Group subsidiary invests in Mita AI company
According to Tianyancha, Shanghai Mita Network Technology Co., Ltd. underwent an industrial and commercial change, adding Ant Group subsidiary Shanghai Yunyan Enterprise Management Consulting Co., Ltd., and Nantong Heyuan No. 1 Venture Capital Partnership as shareholders. Additionally, the company's registered capital increased from approximately 2.9958 million RMB to approximately 3.6328 million RMB. Established in April 2018, Shanghai Mita Network Technology Co., Ltd. lists Min Kerui as its legal representative, with business scopes including network technology services, software development, and sales of computer software and hardware and auxiliary equipment. Public information reveals that the company is associated with Mita AI search. Recently, the company completed a new round of financing exceeding 100 million RMB, led by Ant Group and followed by Lightspeed China Partners.
TSMC's European wafer plant is about to hold a groundbreaking ceremony
TSMC's first European 12-inch plant will hold its groundbreaking ceremony on August 20. The plant is located in Dresden, Germany, and is expected to incorporate 28/22nm planar CMOS technology and 16/12nm FinFET process technology, with an initial planned monthly capacity of about 40,000 wafers. TSMC plans for the European plant to start operations by the end of 2027, with an estimated cost exceeding 10 billion euros (10.8 billion USD). This brings TSMC's overseas investments in Germany, Japan, and the U.S. close to 100 billion USD in total.

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