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

AInvestWednesday, Dec 4, 2024 5:32 pm ET
3min read

On December 4th, Eastern Time (Wednesday), the three major U.S. stock indices closed higher collectively. The S&P 500 Index rose by 0.61% to 6,086.49 points; the Dow Jones Index increased by 0.69% to 45,014.04 points; and the Nasdaq Index went up by 1.30% to 19,735.12 points.

On December 3rd, the Nasdaq Golden Dragon China Index rose by 1.16%.

Regarding popular Chinese stocks, NetEase increased by 1.60%, TSMC by 0.89%, XPeng Motors by 0.75%, Pinduoduo by 0.26%, while JD.com fell by 3.69%, Baidu by 1.51%, NIO by 0.97%, Alibaba by 0.88%, and Bilibili by 0.31%.

Regarding continuously rising Chinese stocks, Full Truck Alliance increased by 0.39% for 7 consecutive days, with a cumulative increase of 9.50% during the period. Enjoy Holdings rose by 4.90% for 7 consecutive days, with a cumulative increase of 22.45%. NetEase increased by 1.60% for 6 consecutive days, with a cumulative increase of 6.31%. Smart Charging rose by 5.94% for 6 consecutive days, with a cumulative increase of 47.42%. Xinghui Yunyin increased by 9.08% for 6 consecutive days, with a cumulative increase of 49.96%.

Regarding continuously declining Chinese stocks, Kandi Technologies fell by 1.35% for 6 consecutive days, with a cumulative decrease of 15.38% during the period. Color Star fell by 9.36% for 6 consecutive days, with a cumulative decrease of 49.59%. LightInTheBox fell by 4.44% for 5 consecutive days, with a cumulative decrease of 15.69%. Ningsheng International fell by 7.66% for 5 consecutive days, with a cumulative decrease of 29.79%. X3 Holdings fell by 4.20% for 5 consecutive days, with a cumulative decrease of 39.68%.

Chinese Stock News
Apple encountered obstacles when cooperating with Baidu's large model? Baidu did not respond. Today, it is reported that Apple encountered obstacles when adjusting Baidu's AI large model. Apple and Baidu engineers are improving Baidu's large language model to make it more suitable for iPhone users. However, according to a person directly familiar with the project, the model encountered difficulties in understanding prompts and accurately responding to common scenarios proposed by iPhone users. Reporters inquired Baidu about this today, but there was no response at the time of publication. Previously, there were market rumors that Baidu would provide AI functions for Apple's iPhone 16, Mac system, and iOS 18 released this year. Apple CEO Tim Cook previously stated that starting from April 2025, Apple AI will launch more languages and be equipped with more functions. This is also interpreted by the outside world as Chinese iPhone users may be able to use Apple AI as early as April next year.

JD.com Industrial Development signed a cooperation agreement with CICC Rui Port in the Langfang Economic and Technological Development Zone. They will deeply cooperate in supply chain management and warehousing logistics, injecting new vitality into the logistics and warehousing industry in the Beijing-Tianjin-Hebei region and promoting high-quality regional economic development.

JD.com recently released the world's first naked-eye 3D product marketing solution, the "Liying Plan," which was first applied to some recent new products of brands such as Huawei, Philips, DJI, Saint Laurent, and Xi'an.

Alibaba announced that on December 3rd, it repurchased 3.7224 million shares for approximately $39.988 million.

BeiGene announced that its shareholder HHLR Fund, L.P., Hillhouse BGN Holdings Limited, and YHG Investment, L.P. reduced their holdings of the company's overseas circulating shares by a total of 21.9973 million shares through centralized bidding and block trading from June 8, 2023, to December 2, 2024. After this equity change, the number of shares held by HHLR Fund, L.P. and its affiliated entities decreased from 147 million shares to 125 million shares, reducing the proportion of shares they hold in the company's total issued shares from 10.61% to 9.02%. After this equity change, the company remains without a controlling shareholder or actual controller.

On the 4th, Forrester, an authoritative research institution, released the Global Public Cloud Platform Wave evaluation results, comprehensively evaluating the technical capabilities and strategic layout of major global public cloud vendors. In the evaluation, Alibaba Cloud, along with Amazon AWS, Microsoft Azure, and Google GCP, was in the leadership position, ranking second globally in terms of products and strategy. This evaluation is one of the most authoritative IT technology vendor evaluation systems. Forrester comprehensively evaluates major global public cloud vendors from 30 dimensions of products and strategy, classifying vendors into leaders, strong performers, and competitors based on quantitative scores. In the quantitative scoring, Alibaba Cloud achieved the highest score in 17 out of 30 scoring items. In terms of strategy dimension scores, it ranked second globally, ahead of Google Cloud and Microsoft Azure, second only to Amazon AWS. At the same time, Alibaba Cloud's balanced layout in AI and enterprise-level cloud services provides comprehensive service capabilities for global enterprise customers.

Baidu officially released a new upgraded version of the Apollo Open Platform, Apollo Open Platform 10.0. Apollo Open Platform 10.0 has undergone major upgrades in the software core layer, application software layer, and tool service layer, and also reconstructed algorithms through the Autonomous Driving Large Model (ADFM) to enhance the effects of core algorithm modules.

Tianyancha App shows that recently, Fujian Baidu Borui Network Technology Co., Ltd. was included in the list of abnormal business operations by the Fuzhou Economic and Technological Development Zone Market Supervision Administration because it could not be contacted through its registered address or business premises. Fujian Baidu Borui Network Technology Co., Ltd. was established in March 2011, with Li Yanhong as the chairman and legal representative, and a registered capital of 1.65 billion RMB. Its business scope includes software development, information technology consulting services, retail and wholesale of computer software, hardware, and auxiliary equipment, and manufacturing of computer software, hardware, and peripheral equipment, as well as communication equipment manufacturing. Shareholder information shows that the company is jointly held by Li Yanhong, Zhang Yanjin, and Liang Zhixiang, with Li Yanhong holding 51% of the shares.

On December 4th, Xingji Meizu and Alibaba Cloud announced a comprehensive cooperation. According to the cooperation agreement, Alibaba Cloud will provide Xingji Meizu with comprehensive services, including cloud computing services, basic large language models, and multimodal models. The two parties will conduct in-depth cooperation on the integration of Xingji Meizu's "mobile phone + XR + smart car" products with Alibaba Cloud and its affiliates' AI large model and cloud computing services.

Disclaimer: the above is a summary showing certain market information. AInvest is not responsible for any data errors, omissions or other information that may be displayed incorrectly as the data is derived from a third party source. Communications displaying market prices, data and other information available in this post are meant for informational purposes only and are not intended as an offer or solicitation for the purchase or sale of any security. Please do your own research when investing. All investments involve risk and the past performance of a security, or financial product does not guarantee future results or returns. Keep in mind that while diversification may help spread risk, it does not assure a profit, or protect against loss in a down market.