Chinese Concept Stocks | Nasdaq Golden Dragon Index Rises 2.80% Led by TSMC, Baidu, and NIO

On August 8 (Thursday), Eastern Time, the three major U.S. stock indexes all rose by more than 1%. The S&P 500 index rose by 2.30% to 5319.31 points; the Dow Jones index increased by 1.76% to 39446.49 points; and the Nasdaq index gained 2.87% to 16660.02 points.
On August 8, the Nasdaq Golden Dragon China Index rose by 2.80%.
Among popular Chinese concept stocks, TSMC rose by 6.16%, Baidu increased by 5.52%, NIO gained 4.22%, Pinduoduo rose by 3.66%, XPeng Motors increased by 3.59%, Alibaba rose by 3.15%, JD.com increased by 2.57%, NetEase rose by 2.16%, and Bilibili fell by 2.54%.
【Chinese Concept Stocks on a Winning Streak】
Companies on a winning streak include Global Lights (up 0.48% over 7 days with a cumulative gain of 0.58%), BeiGene (up 3.56% over 5 days with a cumulative gain of 12.78%), ZTO Express (up 2.09% over 4 days with a cumulative gain of 9.06%), Yum China (up 0.80% over 4 days with a cumulative gain of 15.58%), Melco Resorts & Entertainment (up 3.29% over 4 days with a cumulative gain of 9.71%), DouYu (up 3.87% over 4 days with a cumulative gain of 6.28%), Sohu (up 0.27% over 4 days with a cumulative gain of 3.37%), Burning Rock Biotech (up 1.48% over 4 days with a cumulative gain of 7.35%), Phoenix New Media (up 1.36% over 4 days with a cumulative gain of 3.37%), Zhongchao (up 8.39% over 4 days with a cumulative gain of 50.49%), and Boqii (up 5.63% over 4 days with a cumulative gain of 11.11%).
【Chinese Concept Stocks on a Losing Streak】
Companies on a losing streak include Yonyou Software (down 4.98% over 10 days with a cumulative loss of 27.10%), Huapu Group (down 8.76% over 9 days with a cumulative loss of 51.92%), WeiDaQi Technology (down 7.58% over 9 days with a cumulative loss of 33.33%), Micro-Tech (down 3.01% over 8 days with a cumulative loss of 24.28%), and Meta Data (down 21.03% over 7 days with a cumulative loss of 81.90%).
【Chinese Concept Stocks News】
Institution: NetEase's 'Naraka: Bladepoint' Mobile Downloads Rival Tencent's Popular Game in the First Two Weeks
According to Sensor Tower data, NetEase's mobile game 'Naraka: Bladepoint' reached 4.14 million downloads on the Apple iOS system in the Chinese market in the first two weeks, comparable to Tencent's 'Dungeon & Fighter' mobile game performance at launch. Sensor Tower stated that 'Dungeon & Fighter' had 4.3 million downloads on the iPhone platform in the first two weeks of its launch in China, generating $118 million in revenue.
Industrial and Commercial Bank of China: Mori Horne Approved as Independent Director, Appoints Ernst & Young Hua Ming and Ernst & Young Hong Kong as Accounting Firms
ICBC announced that the National Financial Supervision and Administration has approved Mori Horne's qualification as an independent director, and his appointment has taken effect. Meanwhile, Yang Shaoxin will no longer serve as an independent director or hold related committee positions due to the end of his term. Another announcement showed that the board of directors approved the proposal to appoint Ernst & Young Hua Ming as the domestic accounting firm for 2024 and Ernst & Young Hong Kong as the international accounting firm for 2024.
Alibaba Cloud Launches First Chinese-Optimized FLUX Text-to-Image Model
Alibaba Cloud's ModelScope platform has launched the first Chinese-optimized version of FLUX, available for developers to use for free for a limited time. FLUX, developed by Black Forest Labs, founded by the core authors of Stable Diffusion, received rave reviews upon release. FLUX.1 uses a similar architecture to Stable Diffusion 3 but introduces the DoubleStreamBlock structure, surpassing Stable Diffusion 3 and even challenging Midjourney V6 in generation quality.
Alibaba Cloud Launches First Domain AI Model Application
On August 8, Alibaba Cloud announced the completion of AI-based upgrades for its domain products, launching the first domain AI application based on the Tongyi model and over 40 new popular domain suffixes, including ".ai", and 20 million global domain resources. With the growth in domain registrations, short and memorable domains have become harder to obtain. The upgraded Alibaba Cloud Wanwang allows users to enter brand names and industries to generate creative domain names in bulk, automatically checking for availability and providing domain meanings.
Lei Jun Clarifies: Lei Jun States He Will Stand Up if Yu Minhong Bullies Young People Again
Lei Jun released an article titled "Clarification on Recent Rumors and Gossip," with a note saying, "I have been heavily slandered over the past ten days, and I hope everyone can help share this clarification." In the article, Lei Jun stated that his two times "speaking the harsh truth" were not just for one Dong Yuhui but for all Dong Yuhuis, for young people being PUA'd by hypocritical and deceitful capitalists, for young people being bullied by a group of disgusting adults, and for his younger self. Netizens sarcastically said that Lei Jun's fate is "three feet above, there is Lei Jun." Lei Jun found this notion amusing and somewhat mission-like: "If Yu Minhong does anything bad or causes any scandal in the future, I will try to avoid suspicion and remain silent; but if I see him bullying young people again, no matter what absurd words or slanders are said, I will stand up for justice again," Lei Jun stated.
Alibaba Cloud Wanwang Announces Renewal: Price Drop for New and Old Users, Up to 28% Off
At the 2024 Alibaba Cloud Wanwang Renewal Conference held today, Alibaba Cloud's brand Wanwang announced its renewal and upgrade, launching the Domain Intelligence product. By entering brand names, industries, and suffixes, users can automatically select and register domain names, shifting from competing with brainpower to competing with computing power in domain registration. Additionally, Wanwang offered price discounts on domain services, with a maximum discount of 28% on .cn/.com/.ai/.Vi domains for new and old users. Wanwang also launched a special service for new customers, offering one-year service for 1 yuan for the first purchase. The domain trading model of Wanwang has also been upgraded, providing evaluation and trading of global domains. Currently, there are over 20 million domains for sale on Wanwang's trading platform. The upgraded trading model is more flexible, supporting buy-it-now prices and broker buybacks.
JD.com Responds to Increasing Beauty Product Subsidies, States "Additional Investment Will Be No Less Than 3 Billion"
Yesterday, it was reported that JD.com will make significant adjustments to its billion-yuan subsidy program, adding special subsidies to support beauty products, covering both self-operated and third-party merchants' beauty products. The report stated that after the new round of subsidies, all beauty products participating in JD.com's billion-yuan subsidy program are expected to see price reductions of 10% to 30%. JD.com responded to this, saying: "The news is true, and the additional investment will be no less than 3 billion, covering the entire range of beauty products."
Xianyu Platform to Charge Service Fees from Individual Sellers; Second-Hand E-Commerce "Appetite Grows" Causing Controversy
Starting from September 1, the second-hand e-commerce platform Xianyu will charge a 0.6% basic software service fee from all sellers. The new fee regulations have caused resistance among many users. Some users complained that selling idle items already brings low profits, and now the platform is "milking" them, making it not worthwhile; others believe that the platform's long-term service quality has been poor, and charging service fees may be hard to justify. Industry insiders believe that second-hand e-commerce platforms face the challenge of mixed quality and difficult authenticity verification and should further improve their service systems to promote a more standardized, efficient, and sustainable market development.
Li Auto Invests in Establishing Sales Service Company in Yueyang
According to the Qichacha app, Li Auto recently established Li Auto Sales and Service (Yueyang) Co., Ltd., with Lu Qing as the legal representative. The company has a registered capital of 1 million yuan and its business scope includes automobile sales, motor vehicle repair and maintenance, small passenger car rental services, second-hand car brokerage, communication equipment sales, electric vehicle charging infrastructure operation, car wash services, among others. The company is wholly owned by Li Auto's subsidiary Beijing Liding Auto Sales Co., Ltd.
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