Chinese Concept Stocks | Nasdaq Golden Dragon Index Rises as XPeng and NIO Lead Gains

On October 25th, Eastern Time (Friday), the three major U.S. stock indices showed fluctuating trends. The S&P 500 Index fell by 0.03% to 5808.12 points; the Dow Jones Index declined by 0.61% to 42114.40 points; and the Nasdaq Index rose by 0.56% to 18518.61 points.

On October 25th, the Nasdaq Golden Dragon China Index increased by 1.38%.

Regarding popular Chinese stocks, XPeng rose by 6.21%, NIO increased by 5.52%, Bilibili rose by 3.46%, TSMC climbed by 2.73%, JD.com rose by 1.45%, NetEase increased by 1.08%, Alibaba rose by 1.05%, Pinduoduo increased by 0.90%, and Baidu rose by 0.35%.

For consecutive rising Chinese stocks, Li Auto increased by 5.07% for 6 consecutive days with a total rise of 21.22%. Mingteng rose by 4.56% for 6 days with a total increase of 70.48%. Global Lights rose by 0.19% for 5 days with a total increase of 0.57%. Lichen China rose by 1.10% for 5 days with a total increase of 4.55%. Cango increased by 17.46% for 4 days with a total rise of 26.86%. Huafu Education rose by 0.43% for 4 days with a total rise of 5.06%. Lixiang Education increased by 4.90% for 4 days with a total rise of 43.82%.

For consecutive falling Chinese stocks, Visionox declined by 5.92% for 8 consecutive days with a total drop of 36.84%. Antelope Holdings fell by 9.22% for 8 days with a total decline of 44.35%. New Oriental dropped by 0.69% for 5 days with a total decrease of 12.92%. Silvercorp Metals fell by 0.85% for 5 days with a total decline of 7.51%. Flash Delivery dropped by 2.50% for 5 days with a total decrease of 12.19%. Mercurity Fintech fell by 0.79% for 5 days with a total decline of 30.17%. X3 Holdings dropped by 9.79% for 5 days with a total decrease of 23.21%. BAIYU Holdings fell by 3.21% for 5 days with a total decline of 20.08%. 36Kr dropped by 1.80% for 5 days with a total decrease of 11.55%. eHome Services fell by 1.19% for 5 days with a total decline of 9.00%.

JinkoSolar: No Downward Adjustment of "Jin Energy Convertible Bonds" Conversion Price
JinkoSolar Holding Co., Ltd. announced that although the company’s stock price has triggered the downward adjustment clause of the "Jin Energy Convertible Bonds" conversion price, the board of directors decided not to adjust the conversion price downward this time. Also, even if the adjustment condition is triggered again in the next two months, no downward adjustment plan will be proposed. The next period for triggering the conversion price adjustment condition will start from December 30, 2024.

BeiGene Responds to Executive Investigation: The Incident is Unrelated to the Company
On the afternoon of October 25th, BeiGene released a statement that the company was informed that an employee is cooperating with related investigations. According to the current understanding, the incident involving the employee is unrelated to BeiGene. BeiGene will continue to value and adhere to principles of lawful, compliant, and high ethical standards in operations.

Fliggy's Double 11 "Fly at Will" and Ticket Sales Exceed Last Year
Fliggy data shows that as of 24:00 on October 24th, over 500,000 "Fly at Will" and ticket cards were sold during Double 11, exceeding the entire duration of last year’s event. Cross-border "Fly at Will" and ticket cards accounted for nearly 80% of sales. This indicates that hoarding "Fly at Will" and ticket cards for Double 11 has become a mainstream choice for young people's travel consumption.

Alipay Establishes Healthcare Technology Company with Online Pharmaceutical Information Services
According to Tianyancha App, a new company, Anzhener (Hangzhou) Healthcare Technology Co., Ltd., has been established with Zhang Junjie as the legal representative and a registered capital of 1 million yuan. Its business scope includes wholesale and retail of computer software and hardware and auxiliary equipment, information technology consulting services, sales of electronic products, sales of sanitary and disposable medical supplies, and retail of medical protective equipment. The company's full equity is owned by Ant Health (Guangzhou) Information Technology Co., Ltd., which is a wholly-owned subsidiary of Alipay (Hangzhou) Information Technology Co., Ltd.

BeiGene Executive Investigation Confirmed: Unrelated to Company Operations
On October 25th, rumors circulated that BeiGene’s Chief Commercial Officer for Greater China, Yin Min, was being investigated by regulatory agencies. This information was confirmed by authoritative sources. According to insiders, the reason for Yin Min’s investigation is unrelated to BeiGene’s own operations.

JD Responds to "Zhenhu Price" Trial: Low-Price Brands Common in Industry, Prepared to Respond
During Double 11, the "price war" between JD and Tuhu intensified. On October 24th, it was reported that the defamation case between Tuhu Car Services and JD Car Services has officially gone to trial. Tuhu accused JD of unfair competition regarding "Zhenhu Price" and demanded that JD cease using the brand. The court of Minhang District, Shanghai, has not yet made a ruling. On October 25th, an insider from JD Car Services revealed that JD had received the lawsuit notification and submitted evidence to the court. "The company feels helpless about Tuhu’s lawsuit against Zhenhu Price, and JD will firmly adhere to low prices during Double 11. Such low-price names are very common in the industry, and we are prepared to respond."

BeiGene Executive Investigation Confirmed: Related to AstraZeneca "Fraud Case"
On October 25th, it was reported by multiple sources that Yin Min, Chief Commercial Officer for Greater China of BeiGene, was taken for investigation. Several sources indicated that Yin Min’s investigation is related to the previous AstraZeneca "fraud case," with several individuals involved also taken for investigation recently, though some have been released.

Taobao to Open Hong Kong's First Large-Scale Furniture Experience Store
On October 25th, it was reported that Alibaba's e-commerce platform Taobao has rented a 40,000 square foot (approximately 3716 square meters) store in Tsim Sha Tsui, Hong Kong, to open the city’s first large-scale furniture experience store. The store is expected to open by the end of the year, with a monthly rent of about 500,000 Hong Kong dollars.