Chinese Concept Stocks | Nasdaq Golden Dragon Index Rises as Chinese Stocks Gain Momentum
6min read On November 18th (Monday), Eastern Time, the U.S. stock markets showed mixed performance among the three major indices. The S&P 500 Index rose by 0.39%, closing at 5,893.62 points; the Dow Jones Index fell by 0.13%, closing at 43,389.60 points; and the Nasdaq Index increased by 0.60%, closing at 18,791.81 points.
On November 15th, the Nasdaq Golden Dragon China Index rose by 0.82%.
Regarding popular Chinese stocks, Bilibili rose by 4.32%, Nio increased by 3.90%, NetEase rose by 3.24%, Pinduoduo went up by 2.90%, XPeng Motors increased by 2.20%, Baidu rose by 0.99%, JD.com increased by 0.94%, Alibaba rose by 0.88%, and TSMC increased by 0.77%.
Among the Chinese stocks that have been continuously rising, RLX Technology rose by 7.69% over four consecutive days, accumulating a gain of 14.47%. Tuya Inc. rose by 7.45% over four consecutive days, accumulating a gain of 16.89%. Jiayin Group Inc. rose by 0.75% over four consecutive days, accumulating a gain of 3.53%. So-Young International Inc. rose by 2.49% over four consecutive days, accumulating a gain of 28.00%. NengChain Intelligent Power rose by 7.90% over four consecutive days, accumulating a gain of 24.11%. iClick Interactive Asia Group Limited rose by 0.58% over four consecutive days, accumulating a gain of 12.94%. Chengdao Environmental Protection rose by 1.30% over four consecutive days, accumulating a gain of 36.40%. Great Legend Technology rose by 4.22% over four consecutive days, accumulating a gain of 15.33%.
Among the Chinese stocks that have been continuously declining, Landsea Green Properties Co., Ltd. fell by 1.30% over seven consecutive days, accumulating a loss of 18.86%. Yuchai International Limited fell by 0.22% over seven consecutive days, accumulating a loss of 16.01%. Fangdd Network Group Ltd. fell by 3.03% over seven consecutive days, accumulating a loss of 54.33%. ECARX Holdings Inc. fell by 6.98% over six consecutive days, accumulating a loss of 13.04%. Baird Medical fell by 2.39% over six consecutive days, accumulating a loss of 18.33%. MicroAlgo Inc. fell by 5.83% over six consecutive days, accumulating a loss of 15.07%.
Sequoia China and Hillhouse Capital Withdraw from NIO Capital Affiliate Company? NIO Responds: It's a Misunderstanding
Multiple media outlets reported that Sequoia China and others withdrew from a NIO Capital-related company. According to business registration information, Hubei Yangtze River NIO New Energy Investment Management Co., Ltd., a NIO Capital affiliate, recently underwent a business change. The original shareholders Beijing Sequoia Mingde Equity Investment Center (Limited Partnership) and Kunshan Xinghua Investment Consulting Center (Limited Partnership) withdrew, reducing the registered capital from approximately 180 million yuan to 100 million yuan, and several senior management positions changed. According to NIO Capital, under the regulations effective September 1, 2023, "asset management products cannot be the main investors of private equity fund managers, and the direct or indirect investment ratio cannot exceed 25%." In response to these requirements, Sequoia and Hillhouse adjusted through capital reduction, which is a routine operation. After the adjustment, the registered capital in Wuhan is 100 million yuan. Sequoia and Hillhouse retain their partnership shares as general partners, and this change does not affect the fund's daily operations.
EHang Holdings: Third Quarter Revenue of 128 Million Yuan, Adjusted Net Profit Exceeds Expectations
Low-altitude economic eVTOL technology company EHang Holdings announced its financial results for the third quarter of 2024. The financial report shows that the company's revenue for the third quarter was 128 million yuan, a year-on-year increase of 347.8%, and a quarter-on-quarter increase of 25.6%, setting a new quarterly revenue record and significantly exceeding market expectations of 119 million yuan. The main source of revenue is the sales of their flagship product, the EH216-S, with growth driven by increasing demand and delivery volume for the EH216-S eVTOL product. A total of 63 EH216-S units were delivered in the third quarter, a substantial increase from 13 units in the same period last year.
Temu Considering Launching Platform Model to Further Relax Merchant Requirements
Initially, Temu adopted a fully managed model where merchants delivered goods to domestic warehouses, and the platform took over pricing, sales, and transportation, shipping each consumer's goods directly via postal parcels. Now, Temu is adding a more locally suitable semi-managed model and is considering launching a third-party platform model similar to Taobao, where merchants select products, set prices, open stores, and ship goods overseas, with the platform charging transaction commissions. Since the semi-managed model was launched in March this year, Temu has focused on expanding this business. According to a Temu insider, there is a strong internal commitment to making this business successful. Expanding merchant supply has been the top priority for Temu's semi-managed model over the past half year, focusing on two types of merchants: Chinese sellers familiar with overseas consumer demand and possessing local logistics and supply chain infrastructure, and domestic industrial merchants who have performed well in Temu's fully managed business and are expected to establish local warehouses in Europe and America.
Tmall Partners with Rokid to Launch 3D Shopping
On November 18th, at the Rokid Jungle 2024 Partner and New Product Launch Conference, Rokid founder & CEO Misa shared the latest collaboration with Tmall: consumers can log in to Tmall on AR devices to browse 3D products and spatial videos and make purchases directly. This collaboration between Rokid and Tmall signifies the extension of its ecosystem into the e-commerce field, exploring the integration of AR technology and shopping scenarios. This also marks the first time Tmall has launched a 3D product browsing page and supports 3D shopping.
Changan Motors Lays Out Flying Car Plans, Differentiates from XPeng Huitian; Company Responds: Currently in Development
Changan Motors stated on the interactive platform that at the 2024 Guangzhou International Auto Show, the company shared its latest intelligent deployment achievements and plans, including Changan Smart Drive, Tianzhu Model, flying cars, and humanoid robots. When asked about the differences between Changan's flying car and XPeng's offering, a company representative said that since flying cars are a newly initiated project, they currently do not have specific product information such as parameters or comparisons with other companies' products.
Niu Technologies Third Quarter Revenue of 1.02 Billion Yuan, Adjusted Net Loss of 34.2 Million Yuan
Niu Technologies released its financial results for the third quarter of 2024, ending September 30th: revenue was 1.0239 billion yuan, a year-on-year increase of 10.5%. The net loss was 40.9 million yuan, compared to a net loss of 79.4 million yuan in the third quarter of 2023. The adjusted net loss, not following U.S. GAAP, was 34.2 million yuan, compared to a net loss of 70 million yuan in the same period in 2023.
Xianyu Users Exceed 600 Million, AI Application Accelerates
According to reports, Xianyu's registered user base has exceeded 600 million, with an annual user growth rate of nearly 30%. This year, Xianyu accelerated its exploration of AI applications, launching several AI products. Xianyu's AI intelligence made its debut at the United Nations Climate Change Conference, applying AI to idle transactions for the first time. AI technology enhances the transaction experience across the sales lifecycle, with features such as intelligent posting and AI model fitting improving efficiency while protecting user privacy. Offline recycling stores improve operational efficiency through AI algorithms, forming a linkage between online and offline sales. Xianyu plans to further integrate AI with the platform to optimize the idle transaction experience.
Sequoia China and Others Withdraw from NIO Capital Affiliate Company
According to business registration information, Hubei Yangtze River NIO New Energy Investment Management Co., Ltd., a NIO Capital affiliate, recently underwent a business change. The original shareholders Beijing Sequoia Mingde Equity Investment Center (Limited Partnership) and Kunshan Xinghua Investment Consulting Center (Limited Partnership) withdrew, reducing the registered capital from approximately 180 million yuan to 100 million yuan, and several senior management positions changed. Established in November 2016, Hubei Yangtze River NIO New Energy Investment Management Co., Ltd.'s legal representative is ZHU YAN, and its business scope includes managing or entrusted management of equity investments and related consulting services, business information consulting, and economic information consulting. It is currently jointly held by Ningbo Bonded Zone Weixu Enterprise Management Co., Ltd. and Weiran (Nanjing) Power Technology Co., Ltd.
Latest Alumina Spot Purchase Price in Xinjiang Region is Around 6,000-6,025 Yuan/Ton
According to research, the latest alumina spot purchase price in the Xinjiang region is around 6,000-6,025 yuan/ton for traders supplying electrolytic aluminum plants. This transaction equates to a Shanxi alumina ex-factory price of approximately 5,750-5,770 yuan/ton.
Li Auto Product Line President Liu Jie: The Head Effect of New Energy Vehicle Brands is Increasingly Prominent
"Since August this year, the penetration rate of new energy passenger car retail sales has exceeded 50% continuously, and new energy vehicles are gradually dominating the market, with the head effect of brands becoming increasingly prominent. In the market for new energy vehicles priced over 200,000 yuan, the concentration of the top three brands has reached 50%." Recently, Liu Jie, President of Li Auto's product line, discussed changes in the domestic new energy vehicle market this year. In Liu Jie's view, in addition to the continuous increase in the penetration rate of new energy vehicles, leading new energy vehicle companies are intensifying their investments in intelligent driving and smart cockpits, and the application speed of AI technology is also accelerating.
TSMC: 2025 Capital Expenditure Plan Not Yet Announced
It is anticipated that TSMC's capital expenditure in 2025 may reach $34 billion to $38 billion, challenging a historical high. Regarding issues related to 2025 capital expenditures, TSMC's public relations department responded that the company has not yet announced its 2025 capital expenditure plan. For details on capital expenditures, please refer to the company's public information. As for the 2024 capital expenditure, please refer to the explanation provided during the October earnings call.
Alibaba: Plans to Issue Senior Unsecured Notes for Repayment of Overseas Debt and Share Repurchase
Alibaba announced plans to issue senior unsecured notes denominated in both U.S. dollars and RMB. The principal amount, interest rate, maturity date, and other terms of the notes will be determined at