Chinese Concept Stocks | Nio Leads Decline as Nasdaq Golden Dragon Index Falls 0.95%

On April 30th, Eastern Standard Time (Wednesday), the U.S. stock market indices showed mixed results. The S&P 500 Index rose by 0.15%, closing at 5569.06 points; the Dow Jones Index increased by 0.35%, closing at 40669.36 points; and the Nasdaq Index fell by 0.09%, closing at 17446.34 points.

On April 30th, the Nasdaq Golden Dragon China Index fell by 0.95%.

Among popular Chinese concept stocks, Pinduoduo rose by 1.36%, TSMC increased by 1.31%, NetEase gained 0.66%, Alibaba went up by 0.40%, while NIO fell by 4.72%, Baidu decreased by 1.83%, JD.com declined by 0.79%, XPeng Motors fell by 0.43%, and Bilibili dropped by 0.29%.

Continuous Rising Chinese Concept Stocks: NetDragon Websoft rose by 0.28% over 25 consecutive days, with a cumulative increase of 43.28%. HUYA increased by 4.74% over 9 consecutive days, with a total rise of 12.57%. Sohu went up by 0.73% over 9 consecutive days, accumulating a 38.94% increase. Hesai Technology rose by 3.35% over 8 consecutive days, totaling a 71.78% increase. Opera Browser increased by 1.07% over 7 consecutive days, with a cumulative rise of 23.79%. Gaotu rose by 1.30% over 7 consecutive days, totaling an 18.25% increase. E-Print rose by 13.23% over 7 consecutive days, accumulating a 269.65% increase. 36Kr increased by 3.32% over 7 consecutive days, with a total rise of 39.18%.

Continuous Falling Chinese Concept Stocks: MicroAlgo fell by 11.07% over 7 consecutive days, with a cumulative decrease of 54.64%. Blue Hat Interactive declined by 3.40% over 7 consecutive days, totaling a 19.43% decrease. Ning Sheng International dropped by 6.86% over 5 consecutive days, with a total decline of 18.11%. KE Holdings fell by 2.07% over 4 consecutive days, with a cumulative decrease of 8.06%. XPeng Motors declined by 0.37% over 4 consecutive days, totaling a 10.58% decrease. Dajiang Yun Cang fell by 3.09% over 4 consecutive days, with a cumulative decline of 6.56%. Next Technology dropped by 0.34% over 4 consecutive days, totaling a 4.30% decrease. Alliance Cloud Hologram fell by 9.43% over 4 consecutive days, with a cumulative decrease of 31.13%. LightInTheBox declined by 2.84% over 4 consecutive days, totaling a 29.63% decrease. Happy fell by 5.85% over 4 consecutive days, with a cumulative decrease of 12.38%. Gulf Resources dropped by 0.66% over 4 consecutive days, totaling a 14.43% decrease.

Chinese Concept Stock News:

Bing Liang Approved as Chairman of JD Insurance Agency Co., Ltd. On April 30th, the Beijing Financial Regulatory Bureau’s website announced the approval of Bing Liang's qualification as the chairman of JD Insurance Agency Co., Ltd. The company must strictly comply with the relevant regulatory requirements of the Financial Regulatory Authority and make an appointment decision within two months from the date of this administrative license decision. If no appointment is made within the specified time, the qualification will automatically become invalid.

Nanjing Southeast State-owned Assets Investment Group: No Longer Establishing a Board of Supervisors. The Nanjing Southeast State-owned Assets Investment Group Co., Ltd. announced that the company will not establish a board of supervisors, and the audit committee of the board of directors will exercise the relevant powers.

Hesai Technology Leads Compilation of China’s First National Standard for In-vehicle LiDAR. On April 25th, approved by the State Administration for Market Regulation and the National Standardization Administration, the national standard GB/T45500-2025 for in-vehicle LiDAR, led and primarily drafted by Hesai Technology, was officially released and implemented. The release of this standard not only fills the gap in domestic in-vehicle LiDAR technical standards but also lays a solid technical foundation for the ISO international standard led by Hesai Technology. This milestone marks a significant breakthrough in China’s standardization of smart driving sensors.

JD MALL Accelerates Offline Expansion: Nanjing Store Opens on May Day, Beijing Stores to Follow. According to a JD report, the JD MALL Nanjing Daming Road store will officially open on May 1st; the JD MALL Beijing South Third Ring store will grandly open in mid-May. It is introduced that there are more than 200 leading brands, over 200,000 products, and more than 30 theme experience zones. JD MALL is committed to creating a new space for one-stop home appliances and home consumption, bringing an immersive technology life experience. Notably, the JD MALL Beijing Shuangjing store will also officially open during the 618 shopping festival.

IDC Report: AI Drives Growth in Public Cloud Market, Alibaba Cloud’s Market Share Rises for Three Consecutive Quarters. On April 30th, IDC released the "China Public Cloud Service Market (Second Half of 2024) Tracking" report, indicating that AI has driven the recovery of the public cloud market. The IaaS market size for the second half of 2024 in China is 94.82 billion RMB, a year-on-year increase of 13.8%. Alibaba Cloud ranks first in the market, with its share rising for three consecutive quarters. Huawei ranks second, China Telecom third, China Mobile fourth, and Tencent fifth.

Innovative Drug Concept Continues to be Active, BeiGene and Other Stocks Hit Record Highs. The innovative drug concept continues to be active, with BeiGene, InnoCare Pharma, and Jinbo Biotech hitting record highs. Kelun Pharma, Innovent Biologics, Zai Lab, Huadong Medicine, and Hengrui Medicine also saw significant gains.

Alibaba Upgrades Taobao Flash Sale, Joins Instant Retail Battle. It is reported that on the last day of April, Alibaba upgraded its instant retail business under Taotian, "Hour Delivery," to Taobao "Flash Sale," initially launching in over 50 cities and will cover the whole country by May 6th. After the upgrade, the most significant changes will focus on three aspects: on the consumer side, Taobao Flash Sale will join forces with Ele.me for subsidies exceeding 10 billion RMB, offering free orders and large discount coupons; on the supply side, Ele.me's supply will be fully open to Taobao Flash Sale, including restaurant delivery. Furthermore, leveraging Taotian's advantage with brand e-commerce merchants, it will cooperate with their city warehouses and offline stores to establish brand instant retail flagship stores, aiming to first cover 200 core chain brands; on the organizational side, all instant retail-related businesses within the Tao system will be fully responsible by Taobao Flash Sale, with Ele.me providing full coordination.

Xiaohongshu Opens External Cooperation: Ad Notes Can Directly Redirect to Tmall Product Pages. Xiaohongshu is testing the "Planting Direct" function, planning to allow merchants to redirect to Tmall product pages through ad notes links. This is the first time Xiaohongshu has officially opened external cooperation. According to Xiaohongshu customer service, this function aims to achieve external transaction data feedback through technical services to precisely explore target audiences and track cross-platform advertising effects. The specific launch time of this function is still undetermined. Recently, Tmall officials stated that they would strengthen cooperation with content communities like Xiaohongshu to support brands' full-domain operations. The "Planting Direct" function is highly anticipated.

XPeng Motors Launches May Day Charging Service Activity. In response to the May Day travel peak, XPeng launched a May Day charging service activity, including free service fees at self-operated charging stations around 100 popular scenic spots nationwide and service fees starting at half price at over 15,000 partner stations. Users can also check the availability of charging piles at scenic spots in real-time through the XPeng Motors app or XPeng Charging mini-program.

Ele.me Announces Over 10 Billion RMB Subsidy Joining the Food Delivery Battle. The intensity of the food delivery battlefield has increased again. On April 30th, Ele.me announced an increase in platform subsidy efforts, starting the "Ele Subsidy Over 10 Billion RMB" promotion. Regarding the subsidies, Ele.me stated it will not engage in verbal battles with competitors and will "only offer real benefits." The "Over 10 Billion" keyword entry is now available on the Ele.me app.

Huang Yanming Officially Takes Office as Director of Dongfang Securities Research Institute. It is reported that Huang Yanming has joined Dongfang Securities and taken office as the director of Dongfang Securities Research Institute. On April 21st, Huang Yanming submitted a resignation application to Guotai Haotong Securities. Public information shows that Huang Yanming entered the securities industry in 1994 and has worked at Shenyin & Wanguo Research Institute and UBS Securities. He joined Guotai Junan in 2012 and served as the director of the research institute.