Chinese Concept Stocks | Nasdaq Golden Dragon Index Rises, Bilibili Leads Gains While XPeng Falls

On March 27th, U.S. Eastern Time (Thursday), the three major U.S. stock indices collectively closed lower. The S&P 500 index dropped by 0.33%, ending at 5693.31 points; the Dow Jones index fell by 0.37%, closing at 42299.70 points; and the Nasdaq index decreased by 0.53%, ending at 17804.03 points.

On March 27th, the Nasdaq Golden Dragon China Index rose by 1.39%.

Regarding popular Chinese concept stocks, Bilibili increased by 3.70%, JD.com rose by 2.66%, Alibaba gained 2.61%, Pinduoduo went up by 1.54%, NetEase climbed by 0.95%, Baidu added 0.94%, while NIO fell by 5.45%, TSMC declined by 3.03%, and XPeng Motors dropped by 2.51%.

For continuously rising Chinese concept stocks, Zhongzhi Chufu increased by 2.57% over 21 consecutive rising days, with an accumulated rise of 42.18%. Jinsheng Amusement gained 2.11% over 7 days, with a cumulative increase of 289.29%. The9 Ltd rose by 11.03% over 7 days, with a total rise of 26.74%. Greenland Technologies grew by 65.65% over 5 days, with a cumulative rise of 72.22%. LightInTheBox gained 7.33% over 5 days, with an accumulated increase of 24.17%. Golden Sun rose by 5.59% over 5 days, with a total rise of 13.03%.

For continuously declining Chinese concept stocks, Enjoy Holdings fell by 2.70% over 7 consecutive declining days, with a cumulative drop of 22.17%. XPeng Motors decreased by 2.51% over 6 days, with a total decline of 15.13%. JinkoSolar fell by 2.09% over 6 days, with an accumulated drop of 15.40%. Thunder Energy decreased by 1.45% over 6 days, with a cumulative decline of 56.56%. Abits Group declined by 1.25% over 6 days, with a total drop of 17.92%.

Vice President of XPeng Motors: No Short-term Additional Issuance
Recently, several companies such as BYD, Xiaomi, and NIO have conducted additional issuances, leading to speculation that XPeng Motors might follow suit. On March 27th, the Vice President of XPeng Motors stated on Weibo that while there might be an additional issuance model in the industry that believes their stock price is at a high point, XPeng Motors has not yet reached that point and will not issue additional shares in the short term.

BeiGene: 2024 Annual Net Loss Reduced by About 26.9% to Approximately $645 Million
BeiGene announced on the Hong Kong Stock Exchange that its annual net loss for 2024 decreased by about 26.9% to approximately $645 million, and its total revenue for 2024 increased by about $1.4 billion or approximately 55% year-over-year to about $3.8 billion.

Luxury Brand Lanvin Responds to Rumors of Exiting China: Store Closures Are Strategic Adjustments
Recently, French luxury brand Lanvin has been closing offline stores in China, including high-end commercial projects such as Nanjing Deji Plaza, Hangzhou Tower, and Beijing SKP. The Lanvin brand team responded that they are making strategic and retail layout adjustments, which is why some offline stores have been temporarily closed. They also stated that rumors of the brand exiting the Chinese market are false and that they will continue to invest in the Chinese market. Lanvin was acquired by China's Fosun Group in 2018, and its fashion division was renamed Lanvin Group in 2022 before listing in New York. According to the 2024 financial report, Lanvin's annual revenue fell by 26% year-over-year to 82.72 million euros, with a revenue drop of 40% in the Chinese market.

NIO: Plans to Issue Up to 118.79 Million Class A Ordinary Shares
NIO announced plans to issue up to 118.79 million Class A ordinary shares. The company intends to use the net proceeds from this offering for the research and development of smart electric vehicle technologies and new products, to further strengthen its balance sheet and for general corporate purposes.

iQIYI CEO Gong Yu: Will Reduce Number and Length of Drama Episodes
At the 12th China Online Audiovisual Conference, iQIYI Founder and CEO Gong Yu stated that iQIYI will focus on new audience demands by creating micro-short dramas, continuously investing in high-quality content, and reducing the number and length of drama episodes to meet the diverse entertainment and cultural needs of the audience. Gong Yu emphasized that the platform should enhance the value of intellectual property (IP) through series, derivative products, and cultural tourism, and achieve diversified monetization of online traffic through improved membership, advertising, and e-commerce business models.

Longfor Group and Ant Group Establish Strategic Cooperation to Explore New "Tap" Service Experience
Longfor Group and Ant Group signed a strategic cooperation agreement to explore innovative applications of Alipay's "Tap" technology in commercial scenarios. In the future, Longfor Group plans to gradually launch "Tap" payment and digital services in its shopping centers across the country, allowing consumers to complete secure and convenient payments by simply tapping devices without opening the Alipay app.

Xingji Meizu to Launch Meizu Note 16 Series and Integrate Alibaba Cloud's Large Model
Xingji Meizu's COO Liao Qinghong announced that the Meizu Note 16 series will be launched in April with nationwide reservations, and the Meizu 22 series is planned for release this summer. Simultaneously, the cooperation with Alibaba Cloud is being upgraded, making Xingji Meizu the first smartphone manufacturer to deeply integrate the Qwen2.5-Omni large model, enhancing AI emotional understanding and handling complex tasks.

Alibaba Cloud Releases End-to-End Multimodal AI Model Qwen2.5-Omni-7B
Alibaba Cloud launched the Qwen2.5-Omni-7B, the first end-to-end full-modal large model of the Tongyi family. Designed for full-modal perception, it can handle text, images, audio, and video inputs, generating text and natural language responses in real-time, setting a new standard for deploying multimodal AI on mobile phones, laptops, and other end devices. Despite using only lightweight 7B parameters, the Qwen2.5-Omni-7B demonstrates excellent performance and strong multimodal capabilities, making it an ideal foundational model for developing efficient, cost-effective, and valuable AI agents, particularly in the field of intelligent voice applications. For example, it can assist visually impaired people in safely identifying their surroundings through instant voice navigation, analyze ingredients in videos to provide step-by-step cooking guidance, and create intelligent customer service dialogue experiences that truly understand customer needs. The model is now open-sourced on Hugging Face and GitHub and accessible through Qwen Chat and Alibaba Cloud's open-source community ModelScope. Currently, Alibaba Cloud has open-sourced over 200 generative AI models.

Taobao: Strict Crackdown on Violations of Using AI Fake Images to Deceive Consumers
Taotian Group announced that starting today, Taobao will launch an AI fake image governance initiative across the platform, strictly cracking down on violations of using AI fake images to deceive consumers and infringe on original brand merchants. Taobao requires that product images should primarily be real photos of the product, with any modifications kept moderate to avoid distortion. It prohibits the use of AI and other technologies to synthesize significantly distorted and inaccurate product information effect images.

Taobao: This Year's User Growth Investment Doubles, First-time Buyer Numbers Multiply in Recent Three Months
At the 2025 Tmall Super Brand Private Session on March 26th, Alibaba Group Vice President and Taobao Platform Business Unit President Chu Duan stated that in the first three months of 2025, the daily average number of first-time buyers on the Taobao Tmall platform increased several times compared to the same period last year. Amid high user growth, Taobao Tmall will strengthen support for merchants with good creativity and service to accelerate their growth. To attract more consumers, Taobao Tmall's investment in user growth this year will double compared to last year.

Li Xiang of Li Auto: Will Open Source Li Auto's Self-developed In-car Operating System Li OS
Li Xiang, Chairman of Li Auto, announced at the 2025 Zhongguancun Forum Annual Conference that Li Auto will open source its self-developed in-car operating system, Li OS, becoming the first automaker in the world to open source an in-car operating system. Li Xiang disclosed that Li OS will be launched on the open-source community in April this year, potentially saving tens of millions or even hundreds of millions of yuan in operating system licensing fees annually for automakers and suppliers.

Baidu Intelligent Cloud Kunlun Chip Wins Major Project from China Merchants Bank
According to Baidu, the Kunlun chip server won the bid for China Merchants Bank's AI chip resource project. Based on this project, Kunlun Chip P800 will comprehensively support China Merchants Bank in deploying large model applications across multiple core business scenarios. Recently, Baidu Intelligent Cloud became the first in China to light up the Kunlun Chip P800 ten-thousand-card cluster, and it announced plans to further light up a thirty-thousand-card cluster.