Chinese Concept Stocks | NIO and Li Auto Eye Middle East Expansion Amid Market Declines

On October 30th, Eastern Time (Wednesday), the three major U.S. stock indices collectively closed down. The S&P 500 index fell by 0.33% to 5813.67 points; the Dow Jones index declined by 0.22% to 42141.54 points; and the Nasdaq index dropped by 0.56% to 18607.93 points.

On October 30th, the Nasdaq Golden Dragon China Index fell by 0.96%.

Regarding popular Chinese concept stocks, Bilibili rose by 1.32%, NIO fell by 4.55%, Pinduoduo declined by 3.50%, JD.com dropped by 2.70%, XPeng Motors decreased by 2.37%, NetEase fell by 1.97%, Baidu declined by 1.46%, TSMC fell by 1.23%, and Alibaba dropped by 1.14%.

Companies with consecutive gains include Mingteng with the latest increase of 7.32% over 9 consecutive days, achieving a cumulative rise of 88.04% during this period. Lichen China rose by 3.58% over 8 days, with a cumulative increase of 13.58%. Star Fashion increased by 0.80% over 6 days, with a cumulative rise of 5.18%. Opera Browser increased by 0.75% over 5 days, achieving a cumulative increase of 19.02%. ACM Research rose by 0.33% over 5 days, with a cumulative rise of 4.98%. Tianyan Pharmaceuticals increased by 1.61% over 5 days, achieving a cumulative increase of 10.53%. Junzhang Digital Technology rose by 14.43% over 5 days, achieving a cumulative increase of 48.06%.

Companies with consecutive declines include Mango Cloud Hologram, which fell by 14.67% over 11 consecutive days, with a cumulative decline of 49.65% during this period. Lukoil declined by 1.89% over 6 days, with a cumulative decrease of 14.75%. Xiao-i Robot fell by 0.22% over 6 days, with a cumulative decline of 18.98%. GD Culture Group declined by 2.52% over 6 days, with a cumulative decrease of 19.69%. Carbon Doctor Holdings fell by 3.07% over 6 days, with a cumulative decline of 29.46%.

NIO's Middle East Team Starts Secret Recruitment: Highest Position Reaches Assistant Vice President
It has been learned from multiple sources that NIO has recently started secret recruitment domestically to expand its Middle East team: positions are at level 5 and above, with roles as senior director and above, reaching up to assistant vice president (AVP) level. The required talents include areas such as vehicle manufacturing, three-electric systems, intelligent cockpit, and intelligent driving. When asked for confirmation, a NIO representative stated: "NIO's Middle East and North Africa team and the UAE local team have been established and are expanding."

Li Auto Establishes First-level Overseas Department, Targeting Middle Eastern and Latin American Markets
Recently, Li Auto established a first-level overseas department, led by Wang Jin, reporting to Li Auto's Senior Vice President of Sales and Services, Zou Liangjun. It is understood that Wang Jin has been with Li Auto for over a year. He previously worked under Zou Liangjun at Huawei, responsible for Huawei's terminal business sales and services in Chile. Currently, Li Auto's first-level overseas department is small in numbers and hasn't taken significant actions. Li Auto's early-set primary overseas markets include the UAE, Saudi Arabia, and other Middle Eastern and Central Asian countries. In February this year, Li Auto's Senior Vice President Zou Liangjun stated that the overseas operations would adhere to the direct sales model, establishing dedicated after-sales service networks in Central Asia and the Middle East, with overseas deliveries starting in the fourth quarter, initially introducing the Li Auto L9 and L7 models.

JinkoSolar: Net Profit in the First Three Quarters Fell by 80.88% Year-on-Year
JinkoSolar announced that in the first three quarters, the company achieved an operating revenue of 71.77 billion yuan, a year-on-year decrease of 15.66%; net profit attributable to shareholders of the listed company was 1.215 billion yuan, a year-on-year decline of 80.88%; basic earnings per share were 0.12 yuan. In the third quarter, operating revenue was 24.519 billion yuan, a year-on-year decrease of 22.09%; net profit was 14.8742 million yuan, a year-on-year drop of 99.41%. During the reporting period, intensified competition in the photovoltaic market and continuous decline in product prices led to decreased main business profit.

NIO Holdings Limited Increases Registered Capital to Approximately 7.43 Billion Yuan
According to Qichacha, recently, NIO Holdings Limited underwent an industrial and commercial change, increasing its registered capital from approximately 6.43 billion yuan to around 7.43 billion yuan. NIO Holdings Limited was established in November 2017, with Li Bin as the legal representative. The business scope includes the technical development, technical services, technical transfer, and technical consultation of new energy vehicle complete vehicles and related components.

JinkoSolar Responds to Price Increase Rumors: Promoting Industry Chain Prices to Return to a Reasonable Range, Company Actively Responds
On October 30th, it was reported that the shipment prices of several leading photovoltaic module companies had been slightly adjusted upwards by 1-3 cents per watt, and Longi Green Energy had confirmed an increase in their photovoltaic module prices by 1-2 cents per watt. In response, JinkoSolar was asked for confirmation. An insider from JinkoSolar stated that, based on the consensus reached at the industry's "anti-involution" meeting, companies are working together to gradually promote the return of industry chain prices to a reasonable range, and the company actively responds, looking forward to the industry's early return to a healthy development track.

JD App Integrates Alipay Payment, Insider: Still Working on Integrating JD Pay into Taobao Tmall
On October 30th, the JD App enabled Alipay payment. Currently, some users can see the Alipay option when checking out and can also use tools like Yu'e Bao. This integration of Alipay payment by JD can provide consumers with more payment options and help merchants reduce costs and improve efficiency, creating a "cheaper and better" shopping experience. In the future, JD will continue to increase ecological open cooperation to provide better services for consumers and upstream and downstream partners. An insider noted that both parties are still working on integrating JD Pay into Taobao and Tmall, allowing users of Taobao and Tmall to use JD's payment tools.

Xpeng Aeroht's "Land Aircraft Carrier" Split-Type Flying Car to Have Global Debut Flight on November 12th
According to Xpeng Aeroht, the "Land Aircraft Carrier" split-type flying car will be unveiled at the 2024 China Airshow. On November 12th, it will have its global debut flight at the Doumen Lianzhou Exhibition Area; simultaneously, the "Land Aircraft Carrier" will also be on static display at Hall 8 of the Zhuhai International Airshow Center.