Chinese Concept Stocks | Nasdaq Golden Dragon Index Rises 1.92% with JD, Alibaba, Bilibili Leading Gains

On August 16 (Friday), Eastern Time, the three major U.S. stock indexes collectively closed higher. The S&P 500 index rose by 0.20%, closing at 5554.25 points; the Dow Jones index increased by 0.24%, closing at 40659.76 points; and the Nasdaq index gained 0.21%, closing at 17631.72 points.

On August 16, the Nasdaq Golden Dragon China Index rose by 1.92%. In terms of popular Chinese concept stocks, JD.com increased by 8.48%, Alibaba rose by 4.55%, Bilibili went up by 3.36%, Baidu climbed by 3.23%, NIO rose by 3.00%, Pinduoduo increased by 2.90%, XPeng Motors gained 1.39%, TSMC rose by 0.36%, and NetEase fell by 0.18%.

【Rising Chinese Concept Stocks】
Companies that have seen continuous gains are as follows: Youjia Insurance rose by 11.17% over 8 consecutive days with a total gain of 217.92% during the period; Zhenkunhang rose by 3.11% over 8 consecutive days with a total gain of 26.72% during the period; Qifu Technology increased by 3.33% over 7 consecutive days with a total gain of 25.90% during the period; Tiancheng Jinhui rose by 7.76% over 7 consecutive days with a total gain of 20.77% during the period; I-MAB rose by 9.09% over 6 consecutive days with a total gain of 14.29% during the period; Greenland Technologies increased by 38.89% over 6 consecutive days with a total gain of 57.34% during the period; Weidai Technology rose by 6.28% over 6 consecutive days with a total gain of 66.39% during the period; and Kaixin Auto Holdings rose by 9.75% over 6 consecutive days with a total gain of 25.88% during the period.
【Declining Chinese Concept Stocks】
Companies that have seen continuous declines are as follows: Recon Technology fell by 5.38% over 6 consecutive days with a total decline of 24.07% during the period; Full Truck Alliance fell by 0.40% over 3 consecutive days with a total decline of 1.45% during the period; Gaotu Techedu fell by 0.93% over 3 consecutive days with a total decline of 7.58% during the period; Huya fell by 2.87% over 3 consecutive days with a total decline of 13.56% during the period; uCloudlink fell by 2.90% over 3 consecutive days with a total decline of 7.59% during the period; SOS Limited fell by 0.91% over 3 consecutive days with a total decline of 2.81% during the period; Enjoy Group fell by 1.90% over 3 consecutive days with a total decline of 2.82% during the period; China Liberal Education fell by 3.10% over 3 consecutive days with a total decline of 5.49% during the period; Pop Culture fell by 1.79% over 3 consecutive days with a total decline of 7.56% during the period; and MicroAlgo fell by 9.71% over 3 consecutive days with a total decline of 32.47% during the period.
【Chinese Concept Stocks News】
William O’Neil Resumes Coverage of Pinduoduo ADR
William O’Neil has resumed coverage of Pinduoduo ADR, rating it as a buy.
“Apple Authorized Reseller” Stores Nationwide Join Taobao Hourly Delivery
"Apple Authorized Reseller" stores have fully integrated with Taobao Hourly Delivery, with over 3,000 stores nationwide providing the fastest hourly delivery service to consumers in more than 600 cities. In July this year, Taobao Hourly Delivery underwent a comprehensive upgrade. In addition to an enriched selection of convenience stores, many consumer brands have opened "Hourly Delivery Flagship Stores," and a large number of Taobao and Tmall e-commerce merchants have also launched hourly delivery services, providing consumers with a faster and more convenient shopping experience.
Poly Developments and Holdings Signs Strategic Cooperation Agreement with Yum China
It has been reported that Poly Developments and Holdings has signed a strategic cooperation agreement with Yum China, officially establishing a strategic partnership and ushering in a new era of cooperation.
Citi: TSMC's Advanced Packaging Capacity Investment Aims to Meet Surging AI Chip Demand
Citi analysts Laura Chen and Jack Chen stated in a research report that TSMC (TSM.N) aims to meet the growing demand for AI chips through aggressive investments in advanced packaging. On Thursday, TSMC announced that it had signed a contract with Innolux to purchase the Innolux South Campus plant and related facilities in Tainan City for NT$17.14 billion (approximately RMB 3.788 billion). Citi expects TSMC to accelerate the expansion of its CoWoS advanced packaging capacity. Analysts predict that fourth-quarter capacity could reach 30,000 to 35,000 wafers per month, increasing to over 60,000 wafers per month by the end of 2025. They also noted that TSMC's capital expenditures next year may further increase to $35 billion.
Alibaba: Adjusting Conversion Rate of Convertible Senior Notes
Alibaba announced that due to the 2024 dividend declaration, effective from June 13, 2024, the initial conversion rate of the notes will be adjusted from 9.52 ADS per $1,000 principal amount of notes to 9.73 ADS per $1,000 principal amount of notes; and the maximum conversion rate will be adjusted from 12.38 ADS per $1,000 principal amount of notes to 12.65 ADS per $1,000 principal amount of notes. After the adjustment, the total number of ordinary shares that can be issued upon full conversion of the notes will increase from 495 million shares to 506 million shares.