Chinese Concept Stocks | Nasdaq Golden Dragon Index Surges as JD.com Declares Dividends and SoftBank Reduces Alibaba Stake

On March 6th (Thursday), Eastern Time, the three major U.S. stock indexes collectively closed lower, with the S&P 500 index down 1.78% to 5738.52 points; the Dow Jones index down 0.99% to 42579.08 points; and the Nasdaq index down 2.61% to 18069.26 points.

On March 5th, the Nasdaq Golden Dragon China Index rose by 6.40%.

Regarding popular Chinese concept stocks, xpeng Motors rose by 2.82%, baidu increased by 1.64%, bilibili rose by 0.77%, jd.com rose by 0.37%, netease increased by 0.05%, TSMC fell by 4.56%, NIO decreased by 2.30%, Alibaba fell by 0.78%, and Pinduoduo decreased by 0.32%.

Among continuously rising Chinese concept stocks, Future Vision increased by 0.10% over eight consecutive days with an overall rise of 0.30% during the period. Lianzhang Portal rose by 34.04% over six consecutive days with an overall increase of 145.63% during the period. Tuniu increased by 3.70% over six consecutive days with an overall rise of 12.00% during the period. Atif Holdings rose by 3.97% over five consecutive days with an overall increase of 11.76% during the period. Joyy increased by 1.60% over four consecutive days with an overall rise of 7.52% during the period. ECARX Technologies rose by 13.28% over four consecutive days with an overall increase of 26.39% during the period. Zhongchao Medical increased by 1.56% over four consecutive days with an overall rise of 6.56% during the period. Inlifu increased by 2.82% over four consecutive days with an overall rise of 7.69% during the period.

Among continuously declining Chinese concept stocks, Youxin Technology decreased by 4.33% over eight consecutive days with an overall decline of 24.33% during the period. Tiancheng Technology fell by 10.51% over seven consecutive days with an overall decrease of 32.35% during the period. Lotus Technology decreased by 2.21% over six consecutive days with an overall decline of 25.63% during the period. Tongcheng Tongmei fell by 11.31% over six consecutive days with an overall decrease of 23.94% during the period. Next Technology decreased by 0.38% over six consecutive days with an overall decline of 61.98% during the period.

SoftBank Group's stake in Alibaba-W fell below 5%. According to an announcement by the Hong Kong Stock Exchange, SoftBank Group's stake in Alibaba-W decreased from 5.00% to 4.92% on March 3rd.

JD.com announced an annual cash dividend of $0.5 per ordinary share. JD.com announced that its board of directors has approved an annual cash dividend of $0.5 per ordinary share or $1 per American Depositary Share for the year ending December 31, 2024. The total dividend is estimated to be approximately $1.5 billion.

In the fourth quarter of 2024, JD.com achieved revenue of RMB 347 billion, an increase from RMB 306.1 billion in the same period of the previous year. JD.com announced that its revenue for the fourth quarter of 2024 was RMB 347 billion, up by 13.4% compared to the same period in 2023. The annual revenue reached RMB 1158.8 billion, an increase of 6.8% year-on-year. The operating profit for the fourth quarter of 2024 was RMB 8.5 billion, up by 319.3% year-on-year, with an operating profit margin of 2.4%. Under non-GAAP, the operating profit was RMB 10.5 billion, up by 34.4% year-on-year. The annual operating profit was RMB 38.7 billion, an increase of 48.8% compared to 2023. The net profit attributable to ordinary shareholders was RMB 41.4 billion, an increase of 71.1% year-on-year. JD.com also announced an annual cash dividend of $0.5 per ordinary share, totaling approximately $1.5 billion. Additionally, JD.com repurchased a total of 255 million Class A ordinary shares under its share repurchase plan, totaling approximately $3.6 billion.

TSMC CEO C.C. Wei stated that several production lines will require continued investment in the coming years. Even with the $100 billion investment in the U.S., capacity is still insufficient.

TSMC CEO C.C. Wei stated that this year's capacity is fully booked, next year's is also fully booked, and the year after has been reserved, with customer demand being extremely high.

Ele.me launched a monthly dialogue mechanism for rider rights, insisting on promoting platform rule transparency. On March 6th, Ele.me's official Weibo announced that it has launched a "monthly dialogue mechanism for rider rights," conducting regular communication and interaction with riders, merchants, users, and experts, disclosing algorithms, and conducting thematic research. Ele.me stated that it has been actively promoting the positive application of algorithms and striving to make platform rules more transparent.

Alicloud's Liu Weiguang: Unprecedented resources will be invested in expanding the overseas market, with over 300,000 overseas customers. During the Mobile World Congress in Barcelona, Liu Weiguang, Senior Vice President of Alicloud Intelligent Group and President of the Public Cloud Business Unit, stated, "Starting this year, Alicloud will invest unprecedented resources to more resolutely expand the overseas market." It is reported that Alicloud's cloud services cover 29 public cloud regions, 87 public cloud availability zones, and over 3200 edge nodes worldwide. As of now, Alicloud has served over 300,000 overseas customers, including more than one-third of the Fortune Global 500 companies, and has supported over 250,000 Chinese enterprises in going global.

Alicloud will provide generative AI foundational model solutions to Japanese companies. On March 5th, Alicloud, a subsidiary of Alibaba Group, announced its plan to promote commercial proposals utilizing generative AI foundational models to Japanese companies. Alicloud Japan's responsible person, Masahiro Yoneyama, stated, "We aim to increase projects using our company's models to more than 1,000 within three years." Alicloud Japan Service Company will collaborate with consulting and system development partners to adjust and customize models based on the needs of Japanese companies, jointly developing AI-driven applications. Currently, it has begun negotiations with several partner companies and plans to formally propose solutions by 2025.

The Hefei Economic and Technological Development Zone will provide special incentives to companies promoting the application of battery swapping modes, with NIO receiving up to 10,000 RMB per vehicle. On March 6th, the Management Committee of Anhui Hefei Economic and Technological Development Zone released the "Development Plan for Supporting the Pilot Work of New Energy Vehicle Battery Swapping Mode Application (Discussion Draft)," which will provide special incentives to companies promoting the application of the new energy vehicle battery swapping mode. NIO and Le Tao brand users can enjoy battery swapping model purchase subsidies from now until March 31st, with special subsidies ranging from 6,000 to 10,000 RMB for NIO brand vehicles purchased during this period.

XPeng Motors Chairman He Xiaopeng: Will accelerate the introduction of autonomous driving technology to Hong Kong. During the 2025 National People's Congress, He Xiaopeng, Chairman and CEO of XPeng Motors, stated that XPeng's AI car market performance is impressive and will accelerate the introduction of autonomous driving technology to Hong Kong. To enhance the owner's experience, XPeng has become one of the first car companies to apply for remote parking permits in Hong Kong and has committed to offering free upgrades for remote parking and other functions to Hong Kong users.

Micron announced the addition of former TSMC Chairman Mark Liu to its board of directors. U.S. memory chip company Micron Technology announced that Mark Liu, former chairman of TSMC, and Christie Simons, a senior partner at Deloitte, have joined the company's board of directors.

NIO established a sales company in Chuzhou with a registered capital of 500 million RMB. According to Tianyancha, Chuzhou Guangqi Sales Co., Ltd. was recently established, with Qin Lihong as the legal representative and a registered capital of 500 million RMB. The company's business scope includes automobile sales, auto parts retail, automobile decoration supplies sales, international freight forwarding, domestic trade agency, and customs declaration business, and it is wholly owned by NIO Automobile Technology (Anhui) Co., Ltd.

Baidu Group issued a total of 10 billion RMB in bonds with coupon rates of 2.7% and 3.0%. Baidu, Inc. (Baidu Group, 09888.HK, BIDU.US, Moody's: A3 Stable, Fitch: A Stable) issued Reg S, 5-year, and 10-year senior unsecured bonds denominated in RMB.

Alibaba, China Merchants Venture Capital, and other institutions participated in the A+ round financing of Zujiji Power. Embodied intelligent robot company Zujiji Power recently completed its A+ round financing, raising a total of 500 million RMB in A round series financing over six months, with continued investment from several existing shareholders. Strategic industry investors include Alibaba Group, China Merchants Venture Capital, Shangqi Capital, NIO Capital, Lenovo Capital, and Beyond Ventures, while well-known financial investors include High Speed Capital, Oasis Capital, Ming Shi Capital, Peakview Capital, and Nanshan Zhanxin Investment.

Baidu announced the issuance of 10 billion RMB in senior notes. Baidu announced on the Hong Kong Stock Exchange that it has priced RMB-denominated senior unsecured notes with a total principal amount of 10 billion RMB. The note issuance includes RMB 7.5 billion 2.70% notes due in 2030 and RMB 2.5 billion 3.00% notes due in 2035. The company expects to complete the note issuance on or around March 12, 2025, subject to the satisfaction of customary closing conditions. The net proceeds from the note issuance are intended for general corporate purposes, including the repayment of certain existing debt, interest payments, and general corporate uses.