Chinese Concept Stocks | Nasdaq Golden Dragon Index Rises as Fangdd Sees Volatility, Alibaba Boosts Overseas Sales
2min read On December 9th (Monday) Eastern Time, the three major US stock indexes collectively closed lower. The S&P 500 Index fell by 0.61%, closing at 6052.85 points; the Dow Jones Index decreased by 0.54%, closing at 44401.93 points; and the Nasdaq Index dropped by 0.62%, closing at 19736.69 points.
On December 6th, the Nasdaq Golden Dragon China Index rose by 0.98%.
In terms of popular Chinese concept stocks, Baidu increased by 7.65%, Alibaba rose by 7.46%, Bilibili surged by 21.65%, XPeng Motors climbed by 12.96%, NIO increased by 12.47%, JD.com rose by 11.00%, NetEase grew by 10.59%, Pinduoduo increased by 10.45%, while TSMC fell by 1.87%.
Among the continuously rising Chinese concept stocks, Manbang rose by 14.13% over 10 consecutive days with a cumulative increase of 31.06%. Smart Charging increased by 2.59% over 9 days with a cumulative rise of 95.00%. Xinghui Yunyin grew by 2.46% over 9 days with a total increase of 102.16%. Youpinche rose by 5.15% over 7 days with a cumulative rise of 15.91%. Flash Delivery increased by 1.13% over 6 days with a cumulative rise of 59.56%. Zhenkunxing rose by 1.65% over 6 days with a cumulative increase of 10.78%. Sohu increased by 3.04% over 6 days with a cumulative rise of 9.30%.
Regarding continuously falling Chinese concept stocks, Baier Medical dropped by 5.14% over 7 consecutive days with a total decline of 30.55%. LakeShore Biopharma fell by 1.82% over 5 days with a cumulative drop of 8.50%. MicroAlgo decreased by 2.34% over 5 days with a total decline of 28.02%. Paiming Xincheng fell by 0.46% over 5 days with a cumulative decline of 5.65%. SOS Limited decreased by 0.58% over 5 days with a total drop of 30.48%. Huibao fell by 8.24% over 5 days with a cumulative decline of 23.53%. MKDWELL Tech dropped by 11.00% over 5 days with a total decline of 37.51%.
Fangdd Network triggered a third circuit breaker in the US stock market, with a pre-breaker rise of 147.32%. It later triggered another circuit breaker with a current rise of 86.79%, and then yet another with a current rise of 114.46%.
This year, the GMV of "Taobao Overseas," a business under Alibaba's international commerce, exceeded $20 billion, achieving double-digit growth year-on-year. Taobao Overseas, the international version of the Taobao app, mainly targets overseas Chinese consumer groups. Its scale surpasses that of Temu last year and is comparable to TikTok last year. Despite this, Taobao Overseas remains relatively low-key compared to the more high-profile "Four Little Dragons" of overseas expansion. Tracing its history, Taobao Overseas has been in operation for over 10 years, founded just a few years later than Shein, a leading player in cross-border e-commerce.
Recently, Alibaba Group Holding Ltd. applied for six "Ant Employment" trademarks, covering categories such as social services, scientific instruments, and financial management. The current status of these trademarks is pending substantive examination.
NIO announced that on December 9th, its ET9 model, equipped with "steer-by-wire" technology, received mass production approval from the Ministry of Industry and Information Technology, making it the first mass-production vehicle in China with this technology. NIO will also be a core member, and the only company with an actual mass-production model, to participate in the formulation of the national standard for "steer-by-wire."
Morgan Stanley released a report giving JD Logistics a target price of HKD 13.1 with a rating of "market perform." The report positively evaluated JD Logistics' acquisition of the remaining 36.43% stake in Kuayue Express for approximately RMB 6.484 billion.
On December 6th, a limited partnership enterprise named Changge Youhe (Beijing) Technology Partnership was established in Beijing, with Dong Yuhui as a major partner. The executive partner is Zhongnan Yuantiao (Xi'an) Technology Co., Ltd., with a capital contribution of RMB 1 million. The business scope includes social and economic consulting services, tourism development project planning consulting, ticket agency services, passenger ticket agency, software development, and tourism business. The partnership information shows that the enterprise is funded 99.9% by Dong Yuhui and 0.1% by Zhongnan Yuantiao (Xi'an) Technology Co., Ltd. Notably, Zhongnan Yuantiao (Xi'an) Technology Co., Ltd. was also recently established with a registered capital of RMB 10 million, with Dong Yuhui serving as the legal representative, director, general manager, and sole shareholder of the company.
TSMC plans to start mass production of 2-nanometer chips next year. The company is currently conducting trial production at the TSMC factory located in Hsinchu, with results showing a yield rate of over 60% for its 2nm process.
