Chinese Concept Stocks | NIO, Li Auto, and XPeng Report Strong October Deliveries; JD Seven Fresh Denies Price War Claims
AInvestFriday, Nov 1, 2024 6:31 pm ET
3min read
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On November 1st (Friday) Eastern Time, the three major U.S. stock indices collectively closed higher. The S&P 500 index rose by 0.41% to 5728.80 points; the Dow Jones index increased by 0.69% to 42052.19 points; and the Nasdaq index climbed by 0.80% to 18239.92 points.

On November 1st, the Nasdaq Golden Dragon China Index rose by 0.10%.

Regarding popular Chinese stocks, XPeng Motors rose by 2.58%, TSMC increased by 1.29%, NetEase fell by 1.73%, Baidu dropped by 1.33%, Bilibili decreased by 1.00%, JD.com declined by 0.44%, Alibaba fell by 0.42%, NIO dropped by 0.10%, and Pinduoduo decreased by 0.03%.

Among the Chinese stocks that have been rising consecutively, Lichen China rose by 7.96% for 10 consecutive days, with a cumulative increase of 23.30% during this period. Star Fashion increased by 2.87% for 8 consecutive days, with a cumulative rise of 9.63%. Zhongchi Chufu climbed by 16.30% for 7 consecutive days, with a cumulative growth of 38.78%. Junlong Digital Technology rose by 10.27% for 7 consecutive days, with a cumulative increase of 72.99%. Tiger Technology increased by 1.98% for 6 consecutive days, with a cumulative rise of 23.40%.

Among the Chinese stocks that have been declining consecutively, LakeShore Biopharma fell by 7.30% for 7 consecutive days, with a cumulative decrease of 31.65% during this period. 17 Education Technology decreased by 0.38% for 7 consecutive days, with a cumulative decline of 18.33%. So-Young fell by 3.80% for 6 consecutive days, with a cumulative decrease of 18.00%. Mingzhu Logistics dropped by 1.18% for 6 consecutive days, with a cumulative decline of 18.18%. Green Planet Bioengineering decreased by 12.17% for 5 consecutive days, with a cumulative fall of 23.48%. Lixiang Education fell by 4.82% for 5 consecutive days, with a cumulative decrease of 27.27%. Taoping dropped by 1.65% for 5 consecutive days, with a cumulative decline of 11.06%.

Alipay User Division General Manager Li Juan confirmed resignation. Recently, it was reported that Ant Group Vice President and Alipay User Division General Manager Li Juan has resigned. According to persons close to Ant Group, Li Juan (nickname: Tang Fang) left the company a month ago.

NIO: October deliveries reached 21,000 vehicles, a year-on-year increase of 30.5%. NIO announced that in October 2024, it delivered 21,000 vehicles, a year-on-year increase of 30.5%. Among them, the NIO brand delivered 16,700 vehicles, and the LeDao brand delivered 4,319 vehicles. As of October 31, 2024, the cumulative vehicle delivery reached 619,900. The LeDao brand's production and delivery volume are steadily climbing, operating 166 LeDao centers and experience stores in 60 cities in China, seamlessly connecting with 584 NIO battery swap stations.

Li Auto delivered 51,443 vehicles in October, a year-on-year increase of 27%. Li Auto released its delivery data for October 2024. In October 2024, Li Auto delivered 51,443 new vehicles, a year-on-year increase of 27.3%. As of October 31, 2024, Li Auto delivered a total of 393,255 vehicles in 2024, with a historical cumulative delivery of 1,026,619 vehicles.

XPeng Motors delivered 23,917 vehicles in October, a year-on-year increase of 20%. XPeng Motors announced that in October 2024, it delivered 23,917 intelligent electric vehicles, setting a new monthly delivery record, with a year-on-year increase of 20% and a month-on-month growth of 12%. The XPeng MONA M03 exceeded 10,000 deliveries for the second consecutive month. In the first ten months of 2024, XPeng Motors delivered a total of 122,478 intelligent electric vehicles, an increase of 21% compared to the same period last year.

JD Fresh responded to price war rumors: No intentional target in price war, only adhering to low prices. On the morning of November 1st, it was reported that JD Fresh and front-end warehouses have completed integration, fully launching the "Breakthrough Price Really Cheap Not Afraid to Compare" campaign, suspected to target competitors like Hema and Meituan Xiaoxiang in a real-time retail price war for Double Eleven. JD Fresh responded that to continuously improve consumers' shopping experience, JD Fresh Supermarket and front-end warehouses have indeed completed integration, fully upgrading our products and services. JD Fresh Supermarket always adheres to the "low price" strategy, providing consumers with "cheap and good" products and services, with no intention of targeting anyone in a price war. Please do not overinterpret. Although JD Fresh responded this way, a comparison by Sina Technology found that most of JD Fresh's products are currently cheaper than those on other platforms. JD Fresh did not respond directly to how long these prices will last.

NIO President Qin Lihong: NIO's third brand Firefly will continue to use a rechargeable, swappable, and upgradeable pure electric technology route. In response to reports today that NIO's third brand will adopt hybrid technology with products expected to launch in 2026, NIO President Qin Lihong told reporters that NIO's third brand FIREFLY Firefly will be unveiled at NIO Day 2024, continuing to use the rechargeable, swappable, and upgradeable pure electric technology route.

Multiple independent sources told reporters that NIO, which has always adhered to the pure electric technology route, is planning to adopt a hybrid powertrain for its third brand Firefly project, with products expected to launch in 2026. In addition, information released on NIO's recruitment website on October 30 shows that the company is hiring a Power NVH Engineer, requiring candidates to have development capabilities related to intake and exhaust system NVH. NIO is currently one of the few domestic new energy vehicle companies that insist on a single pure electric technology route. Compared to using fuel tanks to eliminate range anxiety, NIO prefers a well-established energy replenishment infrastructure and faster battery swapping to reduce users' range anxiety. Previously, NIO Chairman and CEO Li Bin repeatedly stated that NIO, including LeDao and Firefly, has no plans to launch hybrid products.

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