Chinese Concept Stocks | NIO Faces Drop Amidst Mixed Performance in Chinese Stocks

On March 21st (Friday) Eastern Time, the three major U.S. stock indexes collectively closed higher, with the S&P 500 Index up 0.08%, closing at 5667.56 points; the Dow Jones Index up 0.08%, closing at 41985.35 points; and the Nasdaq Index up 0.52%, closing at 17784.05 points.

On March 21st, the Nasdaq Golden Dragon China Index fell by 1.73%.

Regarding popular Chinese concept stocks, Baidu rose 0.29%, NIO fell 4.46%, Pinduoduo fell 3.27%, NetEase fell 2.92%, JD.com fell 1.72%, Bilibili fell 1.39%, Alibaba fell 1.32%, XPeng Motors fell 1.25%, and TSMC fell 0.39%.

Companies with consecutive increases among Chinese concept stocks include Zhongchi Chuangfu with a current increase of 4.16% over 13 consecutive days, totaling a period increase of 31.74%. Ruitu Ecology increased by 1.40% over 9 days, totaling a period increase of 30.33%. Jiufu rose 5.96% over 6 days, totaling a period increase of 16.79%. Netclass Technology rose 6.50% over 5 days, totaling a period decrease of -5.84%. Dingxin Holdings rose 5.52% over 5 days, totaling a period increase of 54.55%. Next Technology increased by 3.08% over 5 days, totaling a period increase of 14.10%.

Companies with consecutive decreases among Chinese concept stocks include Alliance with a current decrease of -3.62% over 6 consecutive days, totaling a period decrease of -27.33%. 21Vianet decreased by -1.69% over 5 days, totaling a period decrease of -25.24%. Rockchip fell -3.04% over 5 days, totaling a period decrease of -12.28%. MicroAlgo fell -19.23% over 5 days, totaling a period decrease of -37.93%. Zhongbeino fell -4.42% over 5 days, totaling a period decrease of -10.33%. Tianmei Bio fell -34.04% over 5 days, totaling a period decrease of -88.09%.

NIO: No current plan to use NVIDIA Thor driving chip
NIO Chairman and CEO Li Bin stated in NIO's 2024 fourth-quarter and full-year earnings conference call that starting from ET9, self-developed chips would be gradually used. ET9 would initially use the self-developed Shenji NX9031 driving chip, and subsequent models would also use self-developed chips. There is no current plan to use the NVIDIA Thor driving chip. Previously, it was stated that compared to the current industry flagship driving chip, "Shenji NX9031" possesses end-side inference capabilities equivalent to one chip for four, and two chips for eight.

Ant Group may be developing AI smart glasses product
A recruitment site revealed that Ant Group is hiring a product expert for AI smart glasses. The job description indicates that the position is primarily responsible for products related to AI smart glasses applications, requiring experience with 2C products and familiarity with various VR, AR, and AI smart glasses available in the market. This recruitment information may suggest that Ant Group is developing a 2C-oriented AI smart glasses product.

Hutchison China MediTech: TAZVERIK conditionally approved by China's National Medical Products Administration
Hutchison China MediTech announced that TAZVERIK (tazemetostat) received conditional approval in China for the treatment of adult patients with EZH2 mutation-positive relapsed or refractory follicular lymphoma (FL) who have undergone at least two prior systemic therapies. This approval was obtained through the priority review procedure of the National Medical Products Administration, marking TAZVERIK's first nationwide regulatory approval in China.

NIO: Fourth-quarter revenue of 19.7 billion yuan, up 15% year-on-year
NIO released its 2024 fourth-quarter and full-year financial report, delivering 72,689 units in the fourth quarter, achieving a record high. For the entire year of 2024, NIO delivered 221,970 new vehicles, up 38.7% year-on-year. Fourth-quarter revenue was 19.7 billion yuan, up 15% year-on-year and 6% quarter-on-quarter. The vehicle gross margin continued to improve to 13%, and the comprehensive gross margin improved to 12%, far exceeding market expectations. Additionally, due to the continuous improvement in the scale and profitability of after-sales services, other sales achieved positive quarterly margins. Full-year revenue reached 65.73 billion yuan, up 18.2% year-on-year, setting a new record. The vehicle gross margin for the year continued to improve to 12%, and the comprehensive gross margin improved to nearly 10%, maintaining industry leadership. Cash reserves remained stable at 42 billion yuan. Fourth-quarter R&D investment was 3.64 billion yuan. Full-year R&D investment totaled 13.037 billion yuan. NIO's guidance for the first quarter of 2025 is for deliveries of 41,000 to 43,000 units, representing a 30% year-on-year increase.

Miniso: Group's total revenue for 2024 is 17 billion yuan, up 22.8% year-on-year
Miniso's announcement on the Hong Kong Stock Exchange stated that the group's total revenue for 2024 was 17 billion yuan, up 22.8% year-on-year, with overseas revenue of 6.68 billion yuan, up 42%. Adjusted net profit was 2.72 billion yuan, up 15.4% year-on-year.

DingTalk launches new AI entrepreneur support plan, waiving commission, security deposit, and computing power fees for AI ecosystem
DingTalk recently held the "AI Entrepreneurship N Power" ecosystem innovation conference. At the event, DingTalk announced a series of new ecological policies to support AI entrepreneurs and AI transformers, including waiving commissions, waiving entry security deposits, and waiving computing power fees, as well as providing support in sales, branding, technology, and investment. In the era of AI, to help AI entrepreneurs and ecosystem partners quickly and smoothly transition from technology development to commercial implementation, DingTalk released the latest AI ecosystem support policy "AI Innovation N Power Plan" at this conference, offering commission-free, security deposit-free, and computing power fee-free support, along with assistance in branding, sales, technology, and investment, such as online traffic irrigation, offline sales channel promotion, exclusive large model and AI base capabilities full access, product development technical guidance, and more, providing full-process services and support policies for the AI ecosystem.

Ant, Huawei, and Alibaba Cloud collaborate to launch medical model integrated machine
Ant Group, together with Huawei Medical Corps, Alibaba Cloud, Weining Health, Nari Smart Data, and others, launched the "Ant Medical Model Integrated Machine" full-stack solution. It is reported that Hangzhou Medical Insurance Bureau, Ningbo Yinzhou District Health Commission, Beijing Traditional Chinese Medicine Hospital, Shanghai Renji Hospital, Shanghai Traditional Chinese Medicine Hospital, Zhejiang Provincial People's Hospital, and Di'an Diagnosis will be the first to access the collaboration.

Concerning rider welfare, Richard Liu voices his opinion on social media
On March 21st, JD.com founder Richard Liu expressed his opinion on social media, stating that last year was the most fulfilling year in his 20-year entrepreneurial journey, as over 1,200 couriers retired, allowing them to withdraw tens of thousands of yuan in provident funds at once, with retirement pensions and full coverage of medical insurance. Liu also stated, "The knowledge we have learned, business models, and technical algorithms should not be used to exploit the brothers at the bottom of society! Our profits, market value, and wealth should not be built on the lives of the bottom people without protection!" He called for all couriers and riders to receive five social insurance and one housing fund benefits, as the profits and market value of China's major platforms today can fully support this.

Taobao Vision's latest XR experience showcased at AWE
Journalists learned that Taobao Vision's newly created "Virtual Home Experience Cabin" was showcased at AWE. It is the only XR virtual-real fusion interactive experience at this year's AWE, combining spatial computing and artificial intelligence technology, with promising applications in the e-commerce field in the future.