Chinese Concept Stocks | Nasdaq Golden Dragon Index Rises as Bilibili, Baidu, and NetEase Gain

On June 5th (Thursday) Eastern Time, the three major U.S. stock indices collectively closed lower, with the S&P 500 index down by 0.53%, closing at 5939.30 points; the Dow Jones index fell by 0.25%, closing at 42319.74 points; and the Nasdaq index dropped by 0.83%, closing at 19298.45 points.

On June 5th, the Nasdaq Golden Dragon China Index rose by 0.54%.

Regarding popular Chinese concept stocks, Bilibili increased by 1.15%, Baidu rose by 1.13%, NetEase gained 1.11%, TSMC went up by 0.46%, Alibaba grew by 0.40%, NIO fell by 3.60%, XPeng Motors dropped by 1.84%, JD.com decreased by 0.72%, and Pinduoduo declined by 0.32%.

Companies that continued to rise: RLX Technology rose by 1.42% for 8 consecutive days, with a cumulative increase of 8.59%; 51Talk increased by 5.91% over 7 days, totaling 21.35%; Mobile Finance soared by 27.46% during 7 days, with a total rise of 232.16%; Flash Express increased by 1.38% for 6 days, totaling 23.89%; Eureka Acquisition grew by 0.10% over 5 days, with a cumulative increase of 0.19%; Yunji rose by 10.00% for 5 days, totaling 20.65%; and Euro Tech Holdings increased by 2.15% over 5 days, totaling 7.21%.

Companies that continued to fall: Huachen Technology fell by 10.46% for 8 days, with a cumulative decline of 86.11%; WeRide dropped by 4.48% over 7 days, totaling 18.76%; WiMi Hologram Cloud declined by 6.97% for 6 days, totaling 27.05%; Starry Printing decreased by 2.72% over 6 days, totaling 16.84%; ZTO Express fell by 0.06% for 5 days, with a cumulative decline of 4.59%; Shengfeng Logistics dropped by 3.79% over 5 days, totaling 5.25%; Phoenix New Media decreased by 1.55% for 5 days, totaling 13.03%; and FinVolv Financial Technology Group fell by 5.17% over 5 days, totaling 22.54%.

Shenzhen Stock Exchange: Renrenle Chain Commercial Group Co., Ltd. stock is terminated from listing. The Shenzhen Stock Exchange announced that Renrenle Chain Commercial Group Co., Ltd.'s audited net assets for the year 2024 were -404 million yuan, with the financial accounting report being issued an “unable to express opinion” auditing report, and the internal control of the financial report being issued a negative opinion auditing report, meeting the conditions for stock termination. Shenzhen Stock Exchange decided to terminate the listing of the company’s stock, entering the delisting arrangement period from June 13, 2025, for fifteen trading days, after which the stock will be delisted.

Taobao and Tmall launch "Speedy Home Delivery," partnering with SF Express for the first phase of service testing. On June 5th, it was reported that Taobao and Tmall's official logistics recently underwent a major upgrade: launching the high-quality logistics service brand "Speedy Home Delivery" during the "Tmall 618" event, initially partnering with SF Express as the courier partner and inviting some merchants for service testing.

Beijing land auction on a single day exceeds 13 billion yuan, with Beike's subsidiary Behao Home acquiring land in Beijing. On June 5th, Beijing's land market successfully auctioned multiple plots covering Haidian, Shijingshan, and Changping districts, with a total land auction amount reaching 13.06 billion yuan. Haidian Baoshan Village plots 16 and 17 were ultimately acquired by China Construction First Group and Jinyu, respectively, at 2.778 billion yuan and 3.364 billion yuan, with floor prices of 55,100 yuan/square meter and 56,000 yuan/square meter; Shijingshan Xihuang Village plot was acquired by China Overseas at a base price of 4.523 billion yuan, with a floor price of approximately 27,500 yuan/square meter; Changping Bei Si Village plot was acquired by a consortium of Yuexiu + Beijing Urban Construction + Future Science City + Behao Home at a base price of 2.395 billion yuan, with a floor price of approximately 30,000 yuan/square meter.

Guangdong-Hong Kong-Macao Greater Bay Area launches the first domestic high-speed rail "Lychee Special Train" of the year. On June 5th morning, the China Railway Guangzhou Group and China Railway Express jointly launched the first domestic "Lychee Special Train" G568 from Guangzhou Baiyun Station, arriving in Wuhan, Hubei about four and a half hours later. This special train adopts the "origin direct procurement + railway cold chain" method, equipped with intelligent temperature and humidity monitoring devices to monitor the lychee's condition, improving efficiency by more than three times compared to traditional land transportation, with fresh fruit loss rate controlled within 5%. From June 5th to 22nd, two special trains are scheduled daily to establish a fixed dispatch, assisting Guangdong lychee in accessing the high-speed green channel to the Central China market.

Kuaishou Keling AI and NetEase's "Justice" mobile game reach deep cooperation. Kuaishou Keling AI has reached deep cooperation with NetEase's popular mobile game "Justice," integrating AI video generation technology into the game to enhance the game's social features. Keling AI has already provided API services to over 10,000 customers, covering advertising marketing, film and television animation, intelligent terminals, and other fields. This cooperation broadens the business application prospects of Keling AI in the gaming industry.

JD.com announces progress on stablecoin: entering the second phase of sandbox testing, with test scenarios including cross-border payment, investment trading, retail payment, etc. On the afternoon of June 5th, regarding the latest progress of JD.com's stablecoin, JD.com responded that the stablecoin has not yet been officially issued, but it has entered the second phase of sandbox testing, providing mobile and PC application products for retail and institutional users. Test scenarios mainly include cross-border payment, investment trading, retail payment, etc. JD.com stablecoin is not limited to serving JD.com's ecosystem but is dedicated to providing more efficient, economical, and secure payment infrastructure for global enterprises and individuals.

Dong Mingzhu to make her debut on Taobao Live on June 5th evening. According to the announcement by Gree's official flagship store on Tmall, Dong Mingzhu, Chairman of Gree Electric Appliances, will make her debut on Taobao Live at 6 PM on June 5th.

Taobao and Tmall launch official logistics brand "Speedy Home Delivery," partnering with SF Express for the first phase of service testing. On June 5th, it was learned that Taobao and Tmall's official logistics underwent a major upgrade, launching the high-quality logistics service brand "Speedy Home Delivery" during Tmall 618 event, initially partnering with SF Express as the courier partner and inviting some merchants for service testing.

Legao Auto entering the ride-hailing market? NIO responds. Recently, a topic about Legao Auto cooperating with Didi's ride-hailing channel has been widely circulated online. Yesterday, NIO responded to the media, stating that this was a small misunderstanding, merely a tactical arrangement by regional companies to sell cars.

XPeng Motors: "Light Chase Panorama" head-up display, developed in cooperation with Huawei, will debut on XPeng G7. On the morning of June 5th, XPeng Motors announced that the "Light Chase Panorama" head-up display, developed in cooperation with Huawei, will debut on XPeng G7, featuring the industry's three major functional scenarios.