Chinese Concept Stocks | Nasdaq Golden Dragon Index Rises as Bilibili and TSMC Lead Gains

On June 27th (Friday) Eastern Time, the three major U.S. stock indices collectively closed higher. The S&P 500 index rose by 0.52% to 6173.07 points; the Dow Jones index increased by 1.00% to 43819.27 points; the Nasdaq index rose by 0.52% to 20273.46 points.

On June 27th, the Nasdaq Golden Dragon China Index increased by 0.22%.

Among popular Chinese concept stocks, Bilibili rose by 2.88%, TSMC increased by 2.00%, NIO rose by 1.32%, XPeng Motors increased by 0.98%, Alibaba rose by 0.07%, Pinduoduo fell by 0.58%, JD.com decreased by 0.57%, Baidu fell by 0.38%, and NetEase decreased by 0.20%.

Chinese concept stocks on a rising streak included Future Vision with a recent increase of 0.19% over 18 consecutive days, achieving a cumulative rise of 1.36% during the period. Parkho Biotech rose by 0.65% over 10 days, with a cumulative increase of 79.75%. Melco Resorts & Entertainment increased by 1.98% over 7 days, with a cumulative rise of 14.65%. Quhuo rose by 2.48% over 7 days, achieving a cumulative increase of 12.73%. Tiancheng Technology surged by 13.67% over 7 days, with a cumulative increase of 127.33%.

Chinese concept stocks on a declining streak included Sanyi Technology with a recent decrease of 11.88% over 8 consecutive days, accumulating a decline of 38.01% during the period. The Allied Forces fell by 3.36% over 7 days, with a cumulative decrease of 24.84%. Quantum Song decreased by 6.86% over 6 days, with a cumulative decline of 39.10%. Yisheng Technology fell by 2.53% over 5 days, with a cumulative decrease of 16.73%. Pearl Freight decreased by 6.32% over 5 days, with a cumulative decline of 20.01%. Huadi International fell by 2.11% over 5 days, with a cumulative decrease of 7.63%.

Li Auto's executive updated the production information for the MEGA Home model: waiting for parts, production will resume next Monday. On the evening of June 27th, Li Auto's product line head Tang Jing disclosed on social media that regarding the Li Auto MEGA Home, as of 19:30 on June 27th, users who placed orders before April 30th (excluding configuration changes) have completed offline matching. The factory had accelerated production to use up all inventory parts, so there will be no production this weekend. Production updates will not be provided for the next two days. Once parts arrive over the weekend, production will resume next Monday.

Bona Film Group announced that CITIC Securities and Alibaba Pictures plan to reduce their stakes by 3% and 2.0016%, respectively. Bona Film Group's announcement states that shareholders CITIC Securities Investment Co., Ltd. and its concerted parties, holding a total of 10.3431% of the company's shares, plan to reduce their holdings by no more than 40.9764 million shares, equivalent to 3.0000% of the total share capital. Zhejiang Dongyang Alibaba Pictures Co., Ltd., holding 6.2178% of the company's shares, plans to reduce its holding by no more than 27.3389 million shares, equivalent to 2.0016% of the total share capital. The reduction period is within three months from the 15th trading day following the announcement, with the reduction method through centralized bidding and block trades. The reduction price will be determined based on market prices but not lower than the company's latest audited net asset per share.

Li Auto announced a new organizational structure adjustment and personnel appointments: The original "R&D and Supply Group" and "Sales and Service Group" have been integrated into the newly established "Smart Car Group," responsible for the strategic to operational cycle of Li Auto's smart car business. President Ma Donghui will serve as the head of the Smart Car Group, reporting to Chairman and CEO Li Xiang. Li Xiang will continue to be responsible for teams related to automotive business lines, product departments, brands, strategy, etc., and will devote more energy to the AI (artificial intelligence) field.

Li Auto-W announced that the company now expects to deliver approximately 108,000 vehicles in the second quarter of 2025, with its previous delivery outlook being 123,000 to 128,000 vehicles.

The corn spot price remains firm, with a positive outlook on future trends. Overseas, consulting agency AgroConsult stated on Tuesday that Brazil's second-season corn production for the 2024/25 year will reach a record 123 million tons, an increase of 10.4 million tons from the May forecast and an increase of 20.2 million tons from last year's production. Recently, weather conditions in the U.S. corn belt have improved, leading to a slight decline in the drought area to 16%, benefiting corn growth and development. U.S. corn continues to explore lower levels. Domestically, the corn spot price in Liaoning is 2150 yuan/ton. Corn prices in Northeast China are fluctuating strongly, with deep processing companies raising purchase prices, traders holding low inventory, and having a strong willingness to support prices. Analyst Wu Mingjin from Zhonghui Futures believes that corn has slightly surged and retreated under the influence of the weakening of U.S. corn. However, with imports remaining at low levels, there is a continued favorable outlook under the logic of "protecting farmers' enthusiasm for planting." The medium-to-long-term upward trend may continue. In the short term, the main corn contract is fluctuating along the 20-day moving average on the daily chart. A short-term bullish position above 2300-2320 may be more stable, while caution is needed after breaking through the 2400 mark. Attention should be paid to the impact of weather changes on corn growth conditions.

JD Takeaway announced that it covers over 15,000 enterprises. On June 27th, according to JD's bulletin, JD Takeaway now covers more than 15,000 enterprises. Among the enterprises contacting JD for takeaway business, nearly 70% have entered a substantive cooperation phase within one month. Since June, the weekly average cooperation volume of JD's government and corporate dining solutions has increased tenfold compared to May. Meanwhile, the user subsidies introduced by the JD Takeaway platform have achieved 100% coverage for corporate employees.

TSMC plans to issue NT$12.3 billion in bonds, with interest rates unchanged from last time. According to the prospectus, TSMC will issue its third series of unsecured ordinary corporate bonds for the year in July, totaling NT$12.3 billion, all of which are green bonds. The 5-year bond has an interest rate of 1.92%, issuing NT$8.3 billion; the 10-year bond has an interest rate of 2.05%, issuing NT$4 billion.