Chinese Concept Stocks | NIO-JAC Joint Venture Dissolution Tied to NIO's Independent Production Expansion

On July 7th (Monday) Eastern Time, the three major U.S. stock indices collectively closed lower, with the S&P 500 index down 0.79% at 6229.98 points; the Dow Jones index down 0.94% at 44406.36 points; and the Nasdaq index down 0.92% at 20412.52 points.

On July 7th, the Nasdaq Golden Dragon China Index rose 0.59%.

Among popular Chinese concept stocks, Bilibili rose 7.66%, Baidu increased by 3.98%, Pinduoduo went up 1.60%, NetEase slightly rose 0.14%, while XPeng Motors fell 5.07%, NIO decreased by 2.71%, TSMC dropped 2.42%, Alibaba fell 2.26%, and JD.com declined 0.16%.

Among the continuously rising Chinese concept stocks, PuHua Bio rose by 1.06% for 15 consecutive days, with a cumulative increase of 117.44%. Melco Resorts & Entertainment increased by 0.58% for 12 consecutive days, with a total increase of 37.10%. Bit Mining went up 6.09% for 9 consecutive days, with a rise of 29.10%. Juhua Mall rose 1.11% for 8 consecutive days, with a cumulative increase of 49.18%. Manbang increased by 1.99% for 6 consecutive days, with a total rise of 4.94%. Zhihu rose by 6.38% for 6 days, with a cumulative rise of 21.93%.

Among the continuously falling Chinese concept stocks, New Oriental dropped by 1.55% for 8 consecutive days, with a cumulative decline of 8.68%. Lee's Kitchenware fell 11.35% for 7 days, with a total decrease of 25.60%. Nabet declined by 8.11% for 6 days, with a cumulative drop of 32.87%. Luda Technology decreased by 5.71% for 6 days, with a total drop of 19.65%. Jiayuda fell by 0.26% for 6 days, with a cumulative decline of 8.35%. China Natural Resources decreased by 4.08% for 6 days, with a total drop of 15.21%.

3C Certified Power Banks in Demand, Multiple Popular Models Out of Stock on JD.com
Reporters observed that several 3C certified fast-charging mobile power products from the Baseus JD.com self-operated flagship store are currently out of stock. A 20,000mAh power bank purchased by the reporter shows "in procurement," with an expected shipping time of over a week from the order date. The store's customer service stated, "The warehouse is urgently restocking." On the JD platform, brands such as Ugreen and Xiaomi also have certain models out of stock. A person close to Baseus mentioned that, due to recent restrictions on non-3C certified products being carried on planes, there has been an increase in sales of mobile power banks, leading to temporary shortages of some popular products.

NIO and JAC Motors Joint Venture Cancellation Related to NIO's Independent Production
Today, news of the cancellation of the joint venture between NIO and JAC Motors attracted attention. Sources close to NIO revealed that the cancellation is related to NIO's move towards independent production. Tianyancha information shows that Jianglai Advanced Manufacturing Technology (Anhui) Co., Ltd. recently announced a cancellation filing, with the reason being "resolution to dissolve," and the announcement period from June 10th to July 24th.

Joint Venture Cancellation? NIO's Independent Production Qualification Closely Related
According to Sina Technology, the National Enterprise Credit Information Publicity System shows that Jianglai Advanced Manufacturing Technology (Anhui) Co., Ltd. has announced a cancellation filing, with the reason being "resolution to dissolve," and the announcement period from June 10th to July 24th. Market analysis suggests this cancellation is closely related to NIO's independent production. A person close to NIO stated that since the strategic cooperation agreement was reached in 2016, JAC and NIO have built a strong friendship through their cooperation. The current manufacturing cooperation between the two parties has ended and does not affect their cooperation in other areas. On January 11, 2024, the two parties signed a battery swap strategic cooperation framework agreement in Hefei, continuing to deepen cooperation. The cancellation of the joint venture will not affect current business development or future cooperation in the intelligent electric vehicle sector.

Eastcompeace: Company Not Involved in JD's Testing for Stablecoin License in Hong Kong
On July 7th, Eastcompeace stated on the interactive platform that as of now, the company has not participated in JD's testing of stablecoin license applications in Hong Kong.