Chinese Concept Stocks | Pinduoduo's Billion Plan Focuses on SME Support Amid Stock Drop

On May 27 (Tuesday), Eastern Time, the three major U.S. stock indexes all rose by more than 1%. The S&P 500 Index increased by 2.05%, closing at 5921.54 points; the Dow Jones Index rose by 1.78%, closing at 42343.65 points; the Nasdaq Index jumped by 2.47%, closing at 19199.16 points.

On May 27, the Nasdaq Golden Dragon China Index fell by 0.28%.

Regarding popular Chinese stocks, NetEase rose by 3.79%, TSMC increased by 2.97%, Bilibili went up by 2.61%, Baidu grew by 0.13%, NIO declined by 3.53%, XPeng Motors fell by 3.30%, JD.com decreased by 2.43%, Pinduoduo dropped by 13.64%, and Alibaba went down by 1.00%.

In terms of continuously rising Chinese stocks, Smart Charging increased by 2.78% with a streak of 9 consecutive days, rising by 12.12% during this period. Eureka Acquisition rose by 0.24% over 9 days, with a cumulative increase of 0.43%. Bilibili went up by 2.61% for 5 consecutive days, with a total rise of 8.00%. Burning Rock Biotech increased by 1.23% over 5 days, achieving a cumulative growth of 20.96%. UCLOUDLINK rose by 9.66% over 4 days, with a total increase of 21.90%.

Regarding continuously declining Chinese stocks, Mercurity Fintech dropped by 22.07% over 10 consecutive days, with a cumulative decline of 47.72%. Shengda Tech fell by 1.95% over 9 days, with a total decrease of 16.82%. DeepGlint went down by 11.58% over 7 days, dropping by 41.26%. NIO declined by 3.40% for 6 consecutive days, with a cumulative decrease of 10.00%. WeBus fell by 13.92% over 6 days, with a total drop of 58.25%. Huafu Education decreased by 0.37% over 6 days, with a cumulative decline of 7.37%. Jinsheng Youle fell by 3.21% over 6 days, with a total drop of 68.13%.

BeiGene: Company Registration Location Changed to Switzerland
BeiGene announced that as of May 27, 2025, the company has changed its registration location from the Cayman Islands to Switzerland by registering as a joint-stock company in Switzerland. From the effective date of the registration, the company will adopt articles of association formulated under Swiss law, changing its English name to BeOne Medicines Ltd., while retaining its Chinese name. Ernst&Young AG in Switzerland will serve as the company's statutory auditor in Switzerland, with the term lasting until the first annual shareholders' meeting following the registration. Ernst & Young Hua Ming LLP will continue to serve as the company's A-share auditing institution.

Pinduoduo Zhao Jiazhen: The Billion Plan is a Key Strategy for the Future, Fully Involved Company-Wide
During the earnings call tonight, Pinduoduo Group Executive Director and Co-CEO Zhao Jiazhen discussed the "Billion Support" plan, stating that the plan will further increase resource investment in new quality supply, expanding support from top-tier to mid-tier and small merchants. On one hand, the platform will continue to explore more commission reduction measures, continuously reducing costs for merchants and creating more cost, operational, and innovation spaces. On the other hand, resources such as traffic engines and black-label stores will be fully oriented towards small merchants, maximizing their potential and promoting larger scale and higher quality industry upgrades. Zhao Jiazhen also emphasized that the billion plan is a key strategy for Pinduoduo's future and requires the entire company to be fully committed, focusing efforts on small merchants and tackling challenging issues in high-quality development.

TSMC to Establish European Chip Design Center in Munich, Germany
On Tuesday, a senior executive from TSMC, the world's largest chip foundry, announced that the company will set up a chip design center in Munich, Germany. Paul de Bot, General Manager of TSMC Europe, announced at the 2025 technology seminar that the Munich design center will be operational in the third quarter of 2025. "The center aims to support European customers in designing high-density, high-performance, and energy-efficient chips, primarily targeting automotive, industrial, artificial intelligence, and IoT application sectors," de Bot stated. TSMC is currently collaborating with Infineon, NXP, and Bosch Group to construct a new chip manufacturing plant named "European Semiconductor Manufacturing Company" (ESMC) in Dresden, Germany.

SAP and Alibaba Reach Cloud and AI Strategic Cooperation
On May 27, Alibaba Group and SAP announced a strategic cooperation. SAP will explore integrating the Tongyi Qianwen large model and support enterprises in deploying SAP ERP Cloud and SAP ERP Private Cloud versions on Alibaba Cloud. The two parties will jointly expand enterprise-level market customers, initially focusing on the Chinese market and gradually extending to Southeast Asia, the Middle East, and Africa.

Zhihu: Net Loss of 10.1 Million Yuan in Q1 2025, Narrowed by 93.9% Year-on-Year
Zhihu announced that for the three months ending March 31, 2025, total revenue was 730 million yuan, down from 961 million yuan in the same period of 2024. The gross profit margin for Q1 2025 increased to 61.8% from 56.6% in the same period of 2024. The net loss was 10.1 million yuan, narrowed by 93.9% compared to a net loss of 166 million yuan in the same period of 2024. The adjusted net profit was 6.9 million yuan, compared to an adjusted net loss of 136 million yuan in the same period of 2024. The average monthly subscription members reached 14.2 million.