Chinese Concept Stocks | Nasdaq Golden Dragon Index Rises 1.72% Amid Strong Gains from JD.com, NIO, and NetEase
On August 15th (Thursday), Eastern Time, all three major U.S. stock indices rose by more than 1%. The S&P 500 index increased by 1.61% to 5543.22 points; the Dow Jones index rose by 1.39% to 40563.06 points; and the Nasdaq index climbed by 2.34% to 17594.50 points.
On August 15th, the Nasdaq Golden Dragon China Index rose by 1.72%. Among popular Chinese stocks, JD.com rose by 4.25%, NIO by 3.09%, NetEase by 2.70%, Baidu by 2.61%, XPeng Motors by 2.47%, TSMC by 2.35%, Pinduoduo by 2.18%, Bilibili by 2.14%, and Alibaba by 0.09%.
Rising Chinese Stocks
Companies such as Youjia Insurance, Zhenkunhang, Qifu Technology, Shengfeng Logistics, Mobile Finance, and Tiancheng Jinhui have shown noteworthy performance. Youjia Insurance saw a rise of 44.98% over seven consecutive days, totaling an increase of 185.98%. Zhenkunhang rose by 3.21% over seven days, totaling 22.90%. Qifu Technology saw a minimal increase of 0.04% over six consecutive days, totaling 21.84%. Shengfeng Logistics increased by 0.79% over six days, totaling 8.55%. Mobile Finance rose by 5.26% over six days, totaling 42.86%, and Tiancheng Jinhui increased by 5.45% over six days, totaling 12.08%.
Declining Chinese Stocks
Companies such as Xiao-i Robot, E-Home Household Service, Tanboshi Holdings, MINISO, DouYu, Burning Rock Biotech, Deswell Industries, Singularity Future, and Oriental Culture have experienced declines. Xiao-i Robot fell by 11.66% over seven consecutive days, totaling a decrease of 50.00%. E-Home Household Service dropped by 0.95% over seven days, totaling 93.11%. Tanboshi Holdings declined by 2.26% over five days, totaling 19.75%. MINISO fell by 0.27% over three days, totaling 5.55%. DouYu decreased by 1.30% over three days, totaling 1.40%. Burning Rock Biotech fell by 4.27% over three days, totaling 8.47%. Deswell Industries declined by 0.88% over three days, totaling 5.44%. Singularity Future fell by 2.17% over three days, totaling 11.36%, and Oriental Culture dropped by 0.88% over three days, totaling 5.88%.
Chinese Stock News
Alibaba's Tongyi Qianwen Open Source Model Downloads Exceed 20 Million
Alibaba Group's latest quarterly performance disclosure shows that the downloads of the Tongyi Qianwen open source model have exceeded 20 million. The number of paying users of Alibaba Cloud's AI platform Bailing increased by over 200% compared to the previous quarter. During this quarter, Alibaba Cloud released the open-source model Qwen2-72B and significantly reduced the prices of nine main models of Tongyi Qianwen, with the API input price of Qwen-Long dropping to 1 yuan per 2 million tokens, supporting up to 10 million tokens of long text input. The price after the reduction is about 1/400 of the GPT-4 price. The price reduction has driven the increase in the usage of Alibaba Cloud AI products, with adjusted EBITA profit increasing by 155% year-on-year, reaching 2.337 billion yuan in the single quarter.
TSMC and UMC Respond to Earthquake in Yilan County, Taiwan: Production Normal
According to the China Earthquake Networks Center, a 5.4-magnitude earthquake occurred in Yilan County, Taiwan, with a focal depth of 20 kilometers. TSMC stated that the plant did not reach the evacuation standard. UMC responded that the earthquake had no impact on the production line, and everything is operating normally.
Alibaba Executive: Expected to Maintain High Levels of Capital Expenditure in the Coming Quarters
An Alibaba executive stated that they expect to maintain high levels of capital expenditure in the coming quarters.
Alibaba Executive: Expected to Complete Transition to Primary Listing in Hong Kong by the End of August
An Alibaba executive stated that, subject to shareholder approval, the transition to primary listing in Hong Kong is expected to be completed by the end of August.
Lens Technology: Main Supplier of NIO's Car Imaging Modules
Lens Technology recently stated in a roadshow event that it is the main supplier of NIO's car imaging modules.
Alibaba: Q1 Revenue of 243.24 Billion Yuan, Up from 234.16 Billion Yuan in the Same Period Last Year
Alibaba's Hong Kong Stock Exchange announcement shows that first-quarter revenue reached 243.24 billion yuan, an increase of 4% year-on-year; adjusted EBITDA was 51.16 billion yuan, a year-on-year decrease of 1.7%; and adjusted earnings per ADS for the first quarter were 16.44 yuan.
JD Group: Q2 2024 Revenue of 291.4 Billion Yuan, Up from 287.931 Billion Yuan in the Same Period Last Year
JD Group's Hong Kong Stock Exchange announcement shows that revenue for the second quarter of 2024 reached 291.4 billion yuan, with first-half revenue reaching 551.4 billion yuan, continuing to grow. Based on the effective strategy execution over the past half-year, the continuous improvement in user experience has driven the number of active users and shopping frequency to maintain double-digit growth in the second quarter. Additionally, benefiting from the continuous optimization of supply chain efficiency, JD Logistics' segment has achieved profitability for five consecutive quarters under non-GAAP, with the non-GAAP operating profit margin hitting a new high since JD Logistics' listing. Based on the improvement in user experience and continuous optimization of supply chain efficiency, JD Group's net profit attributable to ordinary shareholders under non-GAAP reached 14.5 billion yuan in the second quarter, a year-on-year increase of 69.0% and a net profit margin of 5.0% for the first time.
Li Auto: To Announce Q2 2024 Financial Results on August 28, 2024
Li Auto will announce its Q2 2024 financial results on August 28, 2024.
Youku Applies for Multiple Nichang Series Trademarks
According to the Aiqicha App, Beijing Youku Technology Co., Ltd. recently applied for the registration of three "Nichang NICHANGAI" trademarks and three "Shenli Nichang" trademarks. The international classifications are medical horticulture, website services, and scientific instruments, and the current status of all trademarks is pending substantive examination.
Energy Monster Faces Joint Lawsuit from Multiple Agents: New Equipment Experiences Widespread Disconnection, Service Partners Withdraw
Multiple agents are jointly suing Energy Monster, alleging fraud by Energy Monster's sales personnel. The agents claim that after investing millions of yuan to purchase Energy Monster equipment and after-sales services, they encountered poor installation, leading to widespread equipment disconnection and significant initial investment losses. Currently, several agents have initiated lawsuits against Energy Monster regarding these issues. Some agents are also considering selling equipment to recover costs, but due to the significant price drop of Energy Monster equipment in the short term, the equipment held by these agents has depreciated significantly, making resale difficult.
CITIC Securities: AR Glasses Expected to Become Ideal Carrier for AI Implementation, Overseas Major Manufacturers' Products to Be Released Soon
CITIC Securities stated that Meta's AI integration with Ray-Ban Meta stimulates sales growth: AI assistants upgrade interaction experiences, combining voice interaction with visual recognition, simplifying operations, expanding application scenarios, and meeting user needs, thereby stimulating sales growth. This validates the demand for smart glasses combined with AI. In the future, AI will also achieve the generation of virtual and real content. With the support of optical solutions and screen hardware technology, smart glasses will upgrade from smart speakers to smartphones, further expanding application scenarios. Therefore, rapid iteration of software and hardware and a content explosion are just around the corner. H2 2024 overseas catalysts: AR hardware, Meta is expected to release the first internal test version of AR glasses; at the same time, Meta is expected to release a lower-priced VR device Quest3S in September, expected to be introduced into the domestic market by Tencent. Samsung is expected to release its first XR headset equipped with Google's Android XR operating system by the end of the year.