Chinese Concept Stocks | NIO Surges as New Model Pre-Sales Begin; TSMC Revenue Drops in June

On July 10th, Eastern Standard Time (Thursday), the three major U.S. stock indices collectively closed higher. The S&P 500 Index rose by 0.27%, closing at 6280.46 points; the Dow Jones Index increased by 0.43%, closing at 44650.64 points; and the Nasdaq Index climbed by 0.09%, closing at 20630.66 points.

On July 10th, the Nasdaq Golden Dragon China Index rose by 0.90%.

Regarding popular Chinese concept stocks, NIO rose by 6.32%, Alibaba increased by 2.67%, Bilibili gained 0.32%, NetEase fell by 2.05%, Xpeng Motors declined by 1.30%, JD.com dropped by 1.20%, TSMC decreased by 0.85%, Baidu fell by 0.25%, and Pinduoduo dipped by 0.03%.

Rising Chinese concept stocks include ACM Research with a latest increase of 0.27% over eight consecutive days, achieving a cumulative rise of 13.23% during this period; Burning Rock Biotech rose by 3.03% over eight consecutive days, with a cumulative increase of 30.07%; Canadian Solar gained 3.60% over seven consecutive days, accumulating a rise of 27.63%; Ebang International rose by 2.78% over six consecutive days, with a cumulative increase of 157.45%; KE Holdings surged by 6.52% over five consecutive days, achieving a cumulative rise of 10.20%; Futu Holdings increased by 0.77% over five consecutive days, with a cumulative gain of 19.26%; TAL Education Group rose by 0.09% over five consecutive days, accumulating a rise of 5.18%; Smart Link Group surged by 5.00% over five consecutive days, achieving a cumulative increase of 43.68%; Huami Corporation increased by 9.73% over five consecutive days, with a cumulative rise of 120.65%; LightInTheBox gained 3.86% over five consecutive days, accumulating a rise of 14.20%; Huize Holding rose by 5.09% over five consecutive days, with a cumulative increase of 13.50%; Enlightify surged by 5.91% over five consecutive days, achieving a cumulative rise of 6.88%; and StarMerger Cloud Print increased by 6.79% over five consecutive days, with a cumulative gain of 16.20%.

Declining Chinese concept stocks include Lianzhang Menhu with a latest decrease of 32.76% over seven consecutive days, experiencing a cumulative decline of 62.07% during this period; Hongen fell by 5.31% over six consecutive days, with a cumulative drop of 15.78%; Able View Global decreased by 0.12% over five consecutive days, experiencing a cumulative decline of 14.70%; Bomei Group fell by 1.93% over four consecutive days, with a cumulative drop of 3.69%; and Jinxuan Group decreased by 3.71% over four consecutive days, experiencing a cumulative decline of 35.81%.

NIO has opened pre-sales for its NIO L90, which will be officially launched at the end of July. On the evening of July 10th, NIO's founder, chairman, and CEO Li Bin announced at the L90 product technology launch that the pre-sale price for the whole vehicle starts at 279,900 yuan, while the battery rental option starts at 193,900 yuan. The official launch is scheduled for the end of July, with deliveries beginning on August 1st.

Li Bin stated that NIO is the car company with the most self-built charging piles in China, with 83% being used by non-NIO brands. At the L90 product technology launch today, NIO's founder, chairman, and CEO Li Bin mentioned that apart from building the most tireless battery swap stations, NIO has also built the most self-built charging piles in China. As of July 10th, there are 13,323 supercharging piles and 13,390 destination charging piles, with 83% being used by non-NIO brands. Additionally, NIO has built the largest battery swap station network in the world, with 3,400 battery swap stations completed as of July 10th.

TSMC reported its revenue for June at 263.71 billion New Taiwan dollars, showing a month-on-month decrease of 17.7% but a year-on-year increase of 26.9%.

Zhejiang Online Merchant Bank plans to issue 25 billion yuan in perpetual capital bonds to raise funds for supplementing other Tier 1 capital. Zhejiang Online Merchant Bank Co., Ltd. announced plans to issue the first tranche of perpetual capital bonds in 2025, with a scale of 25 billion yuan and a book-building date set for July 15th, aiming to raise funds for supplementing the issuer's other Tier 1 capital.