Chinese Concept Stocks | Nasdaq Golden Dragon Index Rises 5.16% Amid Mixed Performance of Key Stocks

On the morning of August 20th, Eastern Time (Wednesday), the three major U.S. stock indices showed mixed trends. The S&P 500 index fell by 0.24% to 6395.78 points; the Dow Jones index rose by 0.04% to 44938.31 points; and the Nasdaq index fell by 0.67% to 21172.86 points.

On August 20th, the Nasdaq Golden Dragon China Index rose by 5.16%.

Among popular Chinese concept stocks, NetEase increased by 1.72%, Bilibili rose by 0.94%, NIO increased by 0.10%, Baidu dropped by 2.59%, XPeng Motors fell by 1.76%, TSMC decreased by 1.70%, Pinduoduo dropped by 0.90%, Alibaba decreased by 0.43%, and JD.com fell by 0.22%.

Haidilao rose by 2.97% for 7 consecutive days with a cumulative increase of 6.01%. Metalpha Technology increased by 0.70% for 5 consecutive days with a cumulative rise of 4.38%. Yujia Insurance rose by 4.56% for 5 consecutive days with a cumulative increase of 38.13%. Hive Metal Processing increased by 2.76% for 5 straight days with a cumulative rise of 8.27%. Melco Resorts & Entertainment rose by 0.22% for 4 consecutive days with a cumulative increase of 5.16%. Monster Charge increased by 1.54% for 4 consecutive days with a cumulative rise of 12.82%. Kandi Technologies rose by 1.85% for 4 straight days with a cumulative increase of 29.92%. Allied Technologies increased by 8.59% for 4 consecutive days with a cumulative rise of 13.43%. Kuke Music rose by 0.56% for 4 consecutive days with a cumulative increase of 4.07%.

Oriental Culture decreased by 1.90% for 8 consecutive days with a cumulative decrease of 31.33%. Jiayou Holdings fell by 2.68% for 7 consecutive days with a cumulative drop of 42.33%. Sound Group decreased by 4.05% for 7 straight days with a cumulative decline of 26.04%. Tairui Xiang fell by 5.63% for 6 consecutive days with a cumulative drop of 23.85%. Shenfan Union decreased by 1.53% for 6 consecutive days with a cumulative decline of 24.61%.

GDS Holdings announced that its net revenue for the second quarter of 2025 was 2.9 billion yuan, a year-on-year increase of 12.4%. The net loss for the second quarter of 2025 was 70.6 million yuan (9.9 million USD), a reduction from the 232 million yuan in the same period last year. Adjusted EBITDA was 1.372 billion yuan, a year-on-year increase of 11.2%. As of June 30, 2025, the total contracted and pre-contracted area was 664,000 square meters, a year-on-year increase of 8.1%. The billing area was 479,200 square meters, a year-on-year increase of 14.1%. The operating area was 618,100 square meters, a year-on-year increase of 6.5%.

Kingsoft Cloud announced that for the six months ending June 30, 2025, its operating income was 4.319 billion yuan, a year-on-year increase of 17.8%; gross profit was 657 million yuan, a year-on-year increase of 7.4%; and net loss was 773 million yuan.

BOSS Zhipin announced that its revenue for the second quarter of 2025 was 2.102 billion yuan, a 9.7% increase from the 1.917 billion yuan in the same quarter of 2024. The net profit attributable to ordinary shareholders was 711 million yuan, a 70.4% increase from the 417 million yuan in the same period of 2024. The adjusted net profit was 941 million yuan, a 30.9% increase from the 719 million yuan in the same period of 2024.

The manager of China Merchants Fund announced that as of August 20, the total subscription amount of public investors for the China Merchants Vipshop Outlet REIT had exceeded the total public offering amount, and the manager decided to end the public offering of fund shares early.

BeiGene announced that its shareholder holding more than 5% of shares, Baker Brothers Life Sciences, L.P., and its affiliated entity changed their shareholding ratio through centralized bidding on August 19, 2025, from 8.06% to 7.99%, reaching a 1% change. This equity change does not violate any commitments, intentions, or plans already made, does not trigger a mandatory tender offer obligation, and does not cause any change in the state of the company having no controlling shareholder or actual controller.

iQIYI's second-quarter revenue was 6.63 billion yuan, with a net loss of 133.7 million yuan.

Baidu Group announced that for the second quarter of 2025, its total revenue was 32.713 billion yuan, a year-on-year decrease of 4%. The net profit attributable to Baidu was 7.322 billion yuan, a year-on-year increase of 33%. Under non-GAAP measures, the net profit attributable to Baidu was 4.795 billion yuan, a year-on-year decrease of 35%.

Futu Holdings' adjusted net profit for the second quarter was 2.6598 billion HKD. The revenue for the second quarter was 5.311 billion HKD, compared to 3.128 billion HKD in the same period last year.

On August 19, Beijing Chinacache Data Corporation (referred to as "Chinacache Data") signed a strategic cooperation framework agreement with the People's Government of Zhongwei City, Ningxia Hui Autonomous Region, in Beijing. According to the agreement, Chinacache Data plans to invest 24 billion yuan to build three zero-carbon, ultra-large-scale intelligent computing parks in Zhongwei, with a total IT capacity of 1.2GW upon completion. The parties will also engage in deep cooperation in areas such as improving the AIDC industry ecosystem, creating a circular economy demonstration zone, tackling large-scale energy storage challenges in the industry, optimizing local energy supply and new energy dispatching, and local talent training and development, building a new generation of zero-carbon ultra-large-scale intelligent computing center development model with full-chain collaboration. This signing also marks Chinacache Data's further expansion in the "East Data West Computing" map, following the Beijing-Tianjin-Hebei hub and the Gansu hub, consolidating its leading position in the domestic computing power industry development.

The Qichacha APP shows that recently, Guangzhou Lingzhi Wisdom Holding Co., Ltd. was established, with Zhang Junjie as the legal representative and a registered capital of 1.7 billion yuan. The business scope includes technology intermediary services, digital technology services, marketing planning, brand management, etc. The equity penetration of Qichacha shows that the company is wholly owned by Ant Technology Group Co., Ltd.

On August 19, the NIO brand announced a price reduction for the 100-degree long-range battery pack (including 400V, 900V platforms). From August 19, the NIO brand 100-degree long-range battery pack price was reduced from 128,000 yuan to 108,000 yuan. Meanwhile, NIO announced partial adjustments to the battery upgrade service: the permanent upgrade service price was reduced from 58,000 yuan to 38,000 yuan. This means that the landing price of NIO models equipped with a 100-degree battery pack has decreased by 20,000 yuan. A NIO automotive spokesperson pointed out that this battery price adjustment is related to factors such as the reduction in battery costs, large-scale battery layout, and strengthening market competitiveness. NIO's July automotive sales data shows that NIO's July automotive sales reached 21,000 vehicles. From the brand structure perspective, the main NIO brand delivered 12,700 vehicles, the LeDao brand delivered 5,976 vehicles, and the Firefly brand delivered 2,366 vehicles.

On August 20, Minhong Yu released a video stating, "@Zhou Chenggang Old Zhou's Australian prestigious school visit journey is about to begin, stay tuned!" The video shows that during the itinerary from August 31 to September 11, Zhou Chenggang will conduct multiple live broadcasts. Previously, Minhong Yu responded that the rumor of New Oriental Group CEO Zhou Chenggang being investigated was completely false, and Dongfang Zhenxuan also refuted and reported the rumor.

On August 20, NIO's legal department released an update on the company's recent legal actions to protect its rights: online accounts "Muse Gao," "Chen Shuo Technology," "Brother Dog Review," "Da Bin Student," and "I am Comrade Da Bin" maliciously defamed the brand and spread false information. NIO has fixed the evidence and will take legal measures, including litigation, against the holders of these accounts. Meanwhile, previously announced cases are progressing in an orderly manner, and the company will announce case progress in due course.

Hutchison China MediTech announced that the SANOVO China Phase III study for the combined therapy of Volressa and Trazirsa for the first-line treatment of specific non-small cell lung cancer patients with EGFR activating mutations and MET overexpression has completed patient enrollment. The last patient in this study completed enrollment on August 18, 2025.