Chinese Concept Stocks | NetEase Surges 10.41% Amid New Game Announcements; JD.com Drops 6.56% After Earnings Report
5min read On November 14th, Eastern Time (Thursday), the three major U.S. stock indices collectively closed lower. The S&P 500 index fell by 0.61% to 5949.17 points; the Dow Jones index decreased by 0.47% to 43750.86 points; and the Nasdaq index dropped by 0.64% to 19107.65 points.
On November 13th, the Nasdaq Golden Dragon China Index fell by 1.09%.
Regarding popular Chinese stocks, NetEase rose by 10.41%, TSMC increased by 1.02%, JD.com fell by 6.56%, XPeng Motors decreased by 5.39%, NIO fell by 3.80%, Bilibili dropped by 12.60%, Alibaba fell by 1.59%, Pinduoduo decreased by 0.95%, and Baidu fell by 0.48%.
Companies with consecutive gains among Chinese stocks include Starry Sky Cloud Printing with a latest increase of 9.77% over 5 consecutive days, Yoku Network with a 1.29% increase over 5 days, Highwave Metal Processing with a 0.53% increase over 5 days, The9 Limited with an 11.99% increase over 4 days, Bright Scholar with a 1.04% increase over 4 days, BTC Digital with an 11.90% increase over 4 days, American Green Planet with a 25.42% increase over 4 days, and Singularity Future with a 4.83% increase over 4 days.
Companies with consecutive losses among Chinese stocks include Connect Biopharma with a latest decrease of 1.49% over 7 consecutive days, Pinduoduo with a 0.95% decrease over 5 days, Baidu with a 0.48% decrease over 5 days, Yum China with a 0.59% decrease over 5 days, New Oriental with a 0.63% decrease over 5 days, TAL Education with a 0.94% decrease over 5 days, Hutchison China MediTech with a 1.12% decrease over 5 days, China Lesso with a 3.32% decrease over 5 days, Gaotu with a 1.13% decrease over 5 days, Yuchai International with a 0.22% decrease over 5 days, Huaxia Boya with a 3.31% decrease over 5 days, Greenland Technologies with a 1.77% decrease over 5 days, Xinyuan Real Estate with a 1.34% decrease over 5 days, 17 Education & Technology with a 1.01% decrease over 5 days, Fangdd with a 10.13% decrease over 5 days, and Color Star with a 7.95% decrease over 5 days.
NetEase announced that "Yan Yun 16 Voices" will be launched at the end of December, and "Code: Infinite" will be tested by the end of the year
At the Q3 earnings call held tonight, NetEase disclosed the progress of two major new projects. Among them, "Yan Yun 16 Voices" is planned to be launched at the end of December, with the mobile game version being released slightly later than the PC version, currently undergoing adaptation and optimization. "Code: Infinite" will start a round of regional offline technical testing by the end of this year. NetEase expressed high expectations for the game, with global reservations exceeding 5 million.
XPeng Motors: The crowdfunding for the P7 smart cockpit chip has been achieved, and development work will start immediately
On the evening of November 14th, XPeng Motors announced that the crowdfunding for the P7 smart cockpit chip has been achieved, and development work will start immediately. XPeng Motors stated, "The chip upgrade for old car owners officially started at 12:00 on November 11th, and after 3 days, with the support of 4,000 XPeng P7 users, the crowdfunding goal was achieved at 18:03 this evening."
DingTalk's ARR for the first half of the fiscal year far exceeds $200 million
On November 14th, DingTalk President Ye Jun announced at the 2024 Autumn DingSummit that DingTalk's ARR (Annual Recurring Revenue) for the first half of the 2025 fiscal year, ending September 30, far exceeds $200 million (approximately 1.45 billion yuan), representing the establishment of DingTalk's "PLG (Product-Led Growth) + SLG (Sales-Led Growth)" business model. Ye Jun also stated that in the past year, the development of embodied intelligence and the low-altitude economy has been noteworthy. DingTalk, which is about to celebrate its tenth anniversary, is willing to accompany the growth of these industries in the next ten years. 60% of companies in the low-altitude flight industry chain are using DingTalk.
Inspur: Plans to invest $12.6 million in EHang's private placement
Inspur announced that it has signed a stock subscription agreement with EHang Holdings Limited. The company plans to use $12.6 million of its own funds to acquire shares in EHang's private placement. The relevant overseas direct investment (ODI) approval process has been completed, as well as the relevant foreign exchange procedures with the State Administration of Foreign Exchange.
Xunlei releases Q3 financial report: Total revenue of $80.1 million, net profit of $4.4 million
On November 14th, Xunlei released its unaudited financial report for the third quarter. The total revenue for the quarter was $80.1 million, a year-on-year decrease of 4.9%, mainly due to the reduction of domestic live streaming business and a decrease in cloud computing business revenue. Xunlei's membership business revenue was $33.2 million, a year-on-year increase of 15.6%. The company's gross profit was $40.5 million, a year-on-year increase of 7.8%, with a gross profit margin of 50.8%, compared to 44.6% in the same period last year. The growth in gross profit was mainly due to the increase in gross profit from the membership and live streaming businesses. Based on Generally Accepted Accounting Principles (GAAP), the net profit for the quarter was $4.4 million, the same as the net profit for the same period last year. Based on Non-GAAP, the net profit for the quarter was $4.9 million, compared to $5.5 million in the same period last year.
JD Health: Q3 revenue of 13.3 billion yuan
JD Health reported Q3 revenue of 13.3 billion yuan, a year-on-year increase of 15%. The operating profit for the third quarter was 551.7 million yuan, compared to 174.6 million yuan in the same period last year.
JD Group: Q3 net revenue of 260.39 billion yuan, an increase of 5.1% year-on-year
JD Group announced on the Hong Kong Stock Exchange that in the third quarter of 2024, net revenue was 260.39 billion yuan, an increase of 5.1% year-on-year. The third quarter Non-GAAP net profit was 13.2 billion yuan, an increase of 23.9% year-on-year. The operating profit margin for the third quarter of 2024 was 4.6%, compared to 3.8% in the third quarter of 2023. The diluted earnings per American Depositary Share (ADS) for the third quarter of 2024 were 7.73 yuan (1.10 USD), an increase of 54.6% compared to 5.00 yuan in the third quarter of 2023.
NetEase Youdao: Q3 net revenue of 1.57 billion yuan, an increase of 2.2% year-on-year
NetEase Youdao released its unaudited financial report for the third quarter of 2024. The financial report shows that NetEase Youdao's Q3 net revenue was 1.57 billion yuan, a year-on-year increase of 2.2%. Operating profit reached 110 million yuan, marking the first time achieving profitability in the third quarter with a record-high single-quarter profit. Operating cash outflow narrowed to 85.4 million yuan, a year-on-year reduction of 71.0%.
JD Logistics: Q3 total revenue of 44.4 billion yuan, an increase of 6.6% year-on-year
JD Logistics released its financial report for the third quarter of 2024, showing total revenue of 44.4 billion yuan, an increase of 6.6% year-on-year. Revenue from external customers accounted for over 70% of total revenue. The adjusted net profit was 2.57 billion yuan.
NetEase: Q3 net revenue of 26.2 billion yuan, net profit of 7.5 billion yuan
NetEase released its financial report for the third quarter of 2024, showing Q3 net revenue of 26.2 billion yuan and a net profit of 7.5 billion yuan attributable to the company's shareholders under non-GAAP. Net revenue from games and related value-added services was 20.9 billion yuan, a quarter-on-quarter increase of 4%, with game net revenue reaching 20.2 billion yuan, a quarter-on-quarter increase of 5%. PC game revenue saw a year-on-year increase of 29% and a quarter-on-quarter increase of 30%.
MissFresh responds to overseas expansion in the Middle East: The business is still in the preliminary exploration stage
There are reports that MissFresh has officially started its overseas expansion, with the first stop being Saudi Arabia in the Middle East. The overseas model mainly targets local customers with pre-prepared dishes, as well as fresh, refrigerated, and department store categories. A relevant person from MissFresh stated that the business is still in the preliminary exploration stage, and there is no more information to disclose at the moment.
Dada Now's Q3 revenue increased by 39% year-on-year to 1.5 billion yuan
Dada Group released its Q3 2024 performance report, showing that JD Now's average monthly order users and order volumes on the JD App platform continued to maintain a high growth momentum, both increasing by over 100% year-on-year. Dada Now continued to deepen cooperation with chain merchants and improve delivery service quality, with total completed orders increasing by 36% year-on-year to 648 million orders. Dada Now's revenue increased by 39% year-on-year to 1.5 billion yuan.
EHang completes the world's first eVTOL solid-state battery flight test
On November 13th, EHang announced a major technological breakthrough with a high-energy solid-state battery jointly developed with Shenjie Energy and the International Advanced Technology Application Promotion Center (Hefei) Low Altitude Economy Battery Energy Research Institute. The EH216-S equipped with this battery successfully completed a single uninterrupted flight test, reaching 48 minutes and 10 seconds, suitable for different flight needs, with a significant increase in endurance time of 60% - 90%. This achievement marks the completion of the world's first solid-state battery flight