Chinese Concept Stocks | Nio Raises $18.9 Billion Globally for China's EV Development, JD and XPeng Lead Gains
3min read On November 27 (Wednesday) Eastern Time, the three major U.S. stock indexes collectively closed lower. The S&P 500 index fell 0.38% to 5998.74 points; the Dow Jones index fell 0.31% to 44722.06 points; the Nasdaq index fell 0.59% to 19060.48 points.
On November 26, the Nasdaq Golden Dragon China Index fell by 0.84%.
Among popular Chinese concept stocks, JD.com rose 5.27%, XPeng rose 4.48%, Bilibili rose 4.43%, Alibaba rose 1.67%, Baidu rose 1.57%, NIO rose 1.51%, NetEase rose 0.41%, TSMC fell 1.45%, Pinduoduo fell 0.51%.
In terms of Chinese concept stocks that have been rising continuously: Xiaoying Technology increased by 4.46% for 10 consecutive days with a cumulative increase of 18.82% during this period; Distoken increased by 1.52% for 9 consecutive days with a cumulative increase of 3.15%; Amer Sports increased by 1.05% for 8 consecutive days with a cumulative increase of 33.83%; Hesai increased by 7.14% for 8 consecutive days with a cumulative increase of 80.15%; Yatsen increased by 0.84% for 7 consecutive days with a cumulative increase of 22.88%; Star Fashion increased by 2.24% for 7 consecutive days with a cumulative increase of 28.40%.
In terms of Chinese concept stocks that have been declining continuously: Kasen International fell by 4.11% for 7 consecutive days with a cumulative decrease of 29.36%; Huazhu fell by 3.23% for 6 consecutive days with a cumulative decrease of 11.47%; Autohome fell by 0.18% for 5 consecutive days with a cumulative decrease of 5.26%; Lotus Technology fell by 4.53% for 5 consecutive days with a cumulative decrease of 10.11%; TSMC fell by 1.44% for 4 consecutive days with a cumulative decrease of 5.26%; ACM Research fell by 0.58% for 4 consecutive days with a cumulative decrease of 9.96%; Zhenkunhang fell by 0.58% for 4 consecutive days with a cumulative decrease of 10.24%; Elong Energy fell by 13.04% for 4 consecutive days; HaoXi Health fell by 36.59% for 4 consecutive days with a cumulative decrease of 47.79%; 36Kr fell by 1.32% for 4 consecutive days with a cumulative decrease of 5.06%.
Li Bin of NIO: Raised $18.9 billion globally for China's automotive industry development
In a program on November 26, NIO's founder, chairman, and CEO Li Bin stated that a crucial reason why investors are willing to invest in NIO is the company's financial transparency, which is very important to global investors. Investors can see that NIO's funds are spent on technology R&D, infrastructure, and brand building, all of which can be considered as investments. "We raised $18.9 billion globally and invested it in developing China's intelligent electric vehicle industry. We have done many open things for China's automotive industry chain, training many talents, both within our company and with partners in the industry chain," Li Bin said.
Alibaba Cloud announces increased investment in Hong Kong market
Alibaba Cloud has launched the "Hong Kong Tech for the Future" initiative, increasing investment in cloud infrastructure in the Hong Kong market, and enhancing AI technology support and talent cultivation for local enterprises and ecosystem partners.
Ant Group collaborates with Greentown Service to launch "Tap to Open" solution
According to Ant Group, on November 26, Ant Group and Greentown Service officially launched the "Tap to Open" solution, and reached a strategic cooperation on the "Beneficial Enterprise and People Action" and "Property Intelligence" initiatives. The focus will be on the innovation of "digitalization of property services," with pioneering collaborations in digital technology innovation and application scenarios: balancing "service convenience and community security" that concerns residents' living comfort, using Alipay's "tap" to solve community access efficiency issues, and launching "property intelligence" to deliver excellent services to residents.
Fu Sheng of Cheetah Mobile: Competition in large models fundamentally relies on data
At a media conference today, Fu Sheng, chairman and CEO of Cheetah Mobile and chairman of OrionStar, pointed out that current competition in large models is generally in the areas of computing power, algorithms, and data. However, competition in computing power mainly involves purchasing Nvidia's computing power, which is hard to differentiate; competition in algorithms is also challenging to create significant differences; ultimately, the competition in large models fundamentally relies on data. Fu Sheng noted that the reason why no one in the industry currently wants to break this taboo is that large model companies want to claim their algorithms are unique. But from the perspective of the entire tech industry chain, the fundamental capability of large models is determined by annotated data.
NetEase Cloud Music completes stock name change
A major online music platform in China, NetEase Cloud Music, has completed the process of changing its listed company stock name. The Chinese stock name has been changed from "Cloud Music" to "NetEase Cloud Music," while the English stock name has been changed from "CLOUD MUSIC" to "NETEASE MUSIC," with the stock code remaining unchanged at "9899."
Yum China: Present at the second Chain Expo, to launch global supplier recruitment
On November 26, the second China International Supply Chain Expo opened in Beijing. Yum China, listed in Hong Kong, participated in this Expo and will hold a global supplier recruitment conference during the event. Yum China currently has over 800 core suppliers, covering various categories such as food ingredients, beverages, packaging materials, construction, warehousing, and transportation.