Chinese Concept Stocks | TSMC and MediaTek Unveil Industry-First Wireless Chip; JD Health Sees Surge in Weight Loss Drug Sales

On March 12 (Wednesday) Eastern Time, the three major U.S. stock indices showed mixed results. The S&P 500 Index rose by 0.49%, closing at 5599.30 points; the Dow Jones Index fell by 0.20%, closing at 41350.93 points; and the Nasdaq Index rose by 1.22%, closing at 17648.45 points.

On March 12, the Nasdaq Golden Dragon China Index fell by 1.21%.

Among popular Chinese concept stocks, TSMC rose by 3.65%, NetEase rose by 0.44%, Bilibili fell by 6.50%, XPeng Motors fell by 6.04%, NIO fell by 2.20%, Baidu fell by 2.19%, Alibaba fell by 1.37%, JD.com fell by 0.93%, and Pinduoduo fell by 0.10%.

Companies with consecutive gains include Future Vision, which rose by 0.20% for 12 consecutive days, with a cumulative increase of 0.49%; Zhongjin Medical rose by 1.22% for 7 consecutive days, with a cumulative increase of 27.06%; iClick Interactive rose by 10.00% for 7 consecutive days, with a cumulative increase of 53.49%; Mingzhu Logistics rose by 3.84% for 7 consecutive days, with a cumulative increase of 36.08%; and Luda Technology rose by 0.48% for 6 consecutive days, with a cumulative increase of 7.16%.

Companies with consecutive declines include Next Technology, which fell by 8.23% for 10 consecutive days, with a cumulative decrease of 74.05%; Aurora fell by 0.88% for 9 consecutive days, with a cumulative decrease of 28.13%; ZTO Express fell by 2.39% for 5 consecutive days, with a cumulative decrease of 7.74%; Emeren Group fell by 0.71% for 5 consecutive days, with a cumulative decrease of 9.15%; 1 Drug Network fell by 3.46% for 5 consecutive days, with a cumulative decrease of 13.21%; Daily Cooking fell by 1.47% for 5 consecutive days, with a cumulative decrease of 21.11%; Fangdd Network fell by 1.60% for 5 consecutive days, with a cumulative decrease of 18.85%; Senmiao Technology fell by 0.01% for 5 consecutive days, with a cumulative decrease of 3.91%; and HaoXi Health fell by 0.64% for 5 consecutive days, with a cumulative decrease of 10.40%.

TSMC and MediaTek announced today that they have jointly developed the industry's first wireless communication PMU (Power Management Unit) + iPA (Integrated Power Amplifier) two-in-one test chip, verified through TSMC's N6RF+ process silicon.

JD Health's retail platform "JD Medicine" released data showing that since March, searches for weight-loss drugs have increased by 80% month-on-month, with transaction value rising by 30%. Nutritional products beneficial for weight management have seen a year-on-year transaction value increase of over 50%. Among weight-loss drugs, the sales of semaglutide, tirzepatide, and orlistat have grown most significantly, with demand for various weight management health products also continuing to rise.

Baidu has completed the issuance of $2 billion in zero-coupon convertible bonds.

TSMC was reportedly joining forces with NVIDIA, AMD, and Broadcom to take over Intel's wafer foundry business. When responding to reporters, TSMC stated they would not comment on rumors. Intel did not respond to the interview.

The Development Research Center of the State Administration for Market Regulation recently released the "2025 Digital Platform Business Environment Governance Report," stating that the platform economy is at a critical stage of progressing towards high-quality development. Strengthening platform governance helps better protect consumer rights. The report uses Alipay as a research sample, analyzing that in 2024, Alipay dealt with over 9,500 violations involving mini programs. The transaction fulfillment risk for platform merchants decreased by 68%, while 189 merchants engaged in illegal activities in prepaid consumption scenarios were addressed, and over 110 counterfeit platform service provider accounts were cracked down upon.

In response to recent market rumors about Manbang Group planning to go public in Hong Kong, an insider from Manbang Group stated on March 12 that they currently have no plans for a Hong Kong listing. The company will closely monitor market developments and business changes to assess whether a dual listing might be considered in the future.

EHang announced its financial performance report on March 12. For the fiscal year 2024, the company delivered 216 units of its EH216 series autonomous aerial vehicles, a 315.4% increase from 52 units in 2023. Total revenue reached 456.2 million yuan, marking a historical high, with a growth of 288.5% compared to 2023. Adjusted net profit under non-GAAP was 43.1 million yuan (approximately $5.9 million), marking the first full fiscal year of adjusted profitability under non-GAAP. The company expects total revenue of about 900 million yuan for the fiscal year 2025, representing a year-on-year growth of approximately 97%.

TSMC has proposed to NVIDIA, AMD, and Broadcom to invest in a joint venture that will operate Intel's wafer foundry, with TSMC's stake in the joint venture not exceeding 50%.

On March 12, there were reports that Mercedes-Benz would use Hesai's (HSAI.O) LiDAR to develop intelligent driving vehicles for the global market. Hesai Technology's staff responded to reporters, stating, "We have seen the news, but we do not comment on unverified business-related information."

Hesai Technology announced today that it has reached a milestone multi-year exclusive partnership with a top European OEM to provide high-performance long-range LiDAR for its next-generation automotive platform, covering multiple models of both fuel vehicles and new energy vehicles. This project spans until 2030 and is the largest order to date in the field of overseas front-end mass-produced LiDAR.