Chinese Concept Stocks | NIO Expands to Azerbaijan, JD.com and NetEase Shares Rise
4min read On November 15th (Friday), Eastern Standard Time, the three major U.S. stock indices collectively closed lower. The S&P 500 Index fell by 1.32% to 5870.62 points; the Dow Jones Index dropped by 0.70% to 43444.99 points; and the Nasdaq Index decreased by 2.24% to 18680.12 points.
On November 14th, the Nasdaq Golden Dragon China Index fell by 1.81%.
Among popular Chinese stocks, JD.com rose by 4.95%, NetEase increased by 1.51%, Pinduoduo went up by 1.49%, NIO gained 1.47%, XPeng rose by 0.83%, Baidu increased by 0.63%, Alibaba fell by 2.22%, Bilibili decreased by 1.56%, and TSMC fell by 1.31%.
Stocks with consecutive gains: Eureka Acquisition increased by 0.23% over 17 consecutive days with a cycle gain of 0.50%; Starry Sky Cloud Printing rose by 3.52% over 6 days with a cycle gain of 66.11%; U.S. Green Planet went up by 2.67% over 5 days with a cycle gain of 156.67%; Baijia Cloud increased by 0.22% over 4 days with a cycle gain of 14.07%; Interstellar Fashion rose by 8.50% over 4 days with a cycle gain of 17.63%; Able View Global increased by 0.57% over 4 days with a cycle gain of 2.19%; and Jinhyun Group rose by 0.69% over 4 days with a cycle gain of 38.10%.
Stocks with consecutive declines: Yum China decreased by 0.04% over 6 days with a cycle decline of 8.26%; Hutchison MediPharma fell by 0.65% over 6 days with a cycle decline of 10.48%; Lu Control dropped by 0.86% over 6 days with a cycle decline of 17.79%; GaoTu fell by 1.15% over 6 days with a cycle decline of 19.57%; Yuchai International decreased by 0.44% over 6 days with a cycle decline of 15.83%; China BoYa fell by 1.90% over 6 days with a cycle decline of 15.71%; Greenland Technologies dropped by 0.90% over 6 days with a cycle decline of 9.84%; Fangdd Network fell by 7.28% over 6 days with a cycle decline of 52.90%; and 17 Education & Technology Group decreased by 1.11% over 6 days with a cycle decline of 8.82%.
EHang Announces Strategic Investment
On November 15th, EHang announced it received a strategic investment totaling more than $22 million. Investors include Zhuhai Enpower Electric Co., Ltd. and a Middle Eastern investment institution. Both investors agreed to a 180-day lock-up period.
NIO Expands into Azerbaijan
On November 15th, NIO signed a strategic cooperation agreement with Green Car, announcing its official entry into the Azerbaijani market, providing smart electric vehicle products and services to local users. According to the agreement, Green Car will become NIO's national general agent in Azerbaijan, offering direct services to local users. Under NIO's full system standards, Green Car will operate around products, services, and community in the area, and will be responsible for investing in and building charging and battery swap stations, service centers, and NIO centers. NIO will develop and authorize Green Car to use NIO Azerbaijan's official website, mobile applications, and other digital products to ensure a consistent global user experience. NIO plans to start product deliveries in Azerbaijan in Q2 2025.
Ant Group's Quarterly Net Profit Increases
Alibaba's financial report shows that Ant Group's quarterly net profit increased by 192.9% year-on-year, reaching 7.59 billion yuan.
Alibaba Repurchases Shares
Alibaba announced that it spent $4.1 billion repurchasing a total of 414 million ordinary shares (equivalent to 52 million American Depositary Shares) in the quarter ending September 30, 2024. As of September 30, 2024, the company's outstanding ordinary shares totaled 18.62 billion (equivalent to 2.327 billion American Depositary Shares), a decrease of 405 million shares compared to June 30, 2024, a net decrease of 2.1% (considering shares issued under equity incentive plans). The company still has $22 billion remaining under its board-authorized share repurchase plan, valid until March 2027.
Alibaba's Second Fiscal Quarter Results
For the second fiscal quarter of 2025 (ending September 30, 2024), Alibaba reported revenue of 236.5 billion yuan, a year-on-year increase of 5%, estimated at 239.43 billion yuan; net profit was 43.547 billion yuan ($6.205 billion), an increase of 63% year-on-year; adjusted EBITA (a non-GAAP financial measure) decreased by 5% year-on-year to 40.561 billion yuan ($5.780 billion). For the quarter ending September 30, 2024, non-GAAP net profit was 36.518 billion yuan ($5.204 billion), down 9% from 40.188 billion yuan in the same period in 2023. Taobao and Tmall's Double 11 GMV saw strong growth, with the number of buyers hitting a record high. Alibaba Cloud accelerated growth compared to previous quarters, with public cloud product revenue achieving double-digit growth, and AI-related product revenue achieving triple-digit growth for five consecutive quarters.
RLX Technology's Third Quarter Results
RLX Technology released its unaudited financial results for the third quarter, achieving revenue of 760 million yuan, a quarter-on-quarter increase of 20.6% and a year-on-year increase of 51.6%. Under non-GAAP, the adjusted net profit for the third quarter was 260 million yuan, a quarter-on-quarter increase of 22.9% and a year-on-year increase of 30.0%.
JD Logistics Fire Incident Statement
A JD spokesperson released a statement regarding a fire incident at the JD Wuxi logistics park warehouse on November 12, 2024. The fire was quickly contained and extinguished by firefighters with no casualties or spread to surrounding warehouses. The cause of the fire is under investigation. Recent rumors online claimed "phones worth billions were destroyed," "the entire logistics park has been devastated," "the park is filled with flammable goods, including phone batteries," and "temporary workers secretly smoking." These statements were confirmed to be false. The affected warehouse was a storage warehouse, not a sorting operation warehouse, and contained daily goods of low value. The logistics park has gradually resumed normal operations. JD Logistics has reported the rumors to the police.
DingTalk Releases Low-Altitude Economic Solutions
On November 14th, DingTalk 2024 "Send Me to the Cloud" Autumn Summit was held in Zhuhai, Guangdong. The summit focused on the low-altitude economic industry, with data showing that over 60% of enterprises in this industry are already using DingTalk. At the summit, DingTalk and four ecosystem partners released digital solutions for the low-altitude industry, and also announced key commercial progress: the ARR (Annual Recurring Revenue) for the first half of the fiscal year 2025 far exceeded $200 million.
Leapmotor's SVP Responds to "Little Ideal" Tag
At the 2024 Guangzhou Auto Show, Leapmotor debuted the first model of the B series, B10. When asked about the "Little Ideal" tag, Leapmotor's Senior Vice President, Cao Li, stated that they do not reject the nickname, as Ideal Auto is a role model for them. However, Leapmotor has its own unique personality and charm, "Please do not label Leapmotor with this tag, Leapmotor is Leapmotor." Leapmotor also revealed that it is developing the D series MPV model, priced under 300,000 yuan, expected to be launched in 2026.
JD Fresh Supermarket Announces Price Advantage
JD Fresh Supermarket's official WeChat account announced that, starting immediately, products in the JD Fresh Price Breakthrough Zone will be on average 10% cheaper than other instant retail platforms. If competitors match prices, JD Fresh will continue to lower prices. During JD's 11.11 event, JD Fresh launched the "Super Breakthrough" campaign, achieving triple-digit growth in order numbers and user transactions year-on-year.
Xpeng Announces P7+ Smart Driving Test
On November 15th, at the 22nd Guangzhou International Auto Show, Xpeng's CEO announced the initial test of Xpeng P7+ smart driving from parking space to parking space. Additionally, Xpeng's HT Aero made its first appearance at the auto show. Limited to 200 first-flight codes, they sold out within 48 hours, with the first global manned test flight starting today.