Chinese Concept Stocks | TSMC Rises Despite Nasdaq Dragon Index Drop; XPeng, NIO Decline
3min read On October 17th, Eastern Time (Thursday), the three major U.S. stock indexes showed mixed results. The S&P 500 Index fell 0.02% to 5841.47 points; the Dow Jones Index rose 0.37% to 43239.05 points; and the Nasdaq Index rose 0.04% to 18373.61 points.
On October 17th, the Nasdaq Golden Dragon China Index fell 3.61%.
Among popular Chinese concept stocks, TSMC rose 9.74%, XPeng Motors fell 7.47%, NIO fell 6.53%, Bilibili fell 5.49%, JD.com fell 4.17%, Baidu fell 3.32%, Pinduoduo fell 2.96%, NetEase fell 2.60%, and Alibaba fell 2.07%.
Rising Chinese Concept Stocks: Smart Charging rose 10.69% over 7 consecutive days with a cumulative increase of 55.82%. Haoxi Health rose 5.00% over 6 consecutive days with a cumulative increase of 37.98%. Flash Delivery rose 2.82% over 5 consecutive days with a cumulative increase of 20.73%. Qilian International rose 0.77% over 5 consecutive days with a cumulative increase of 7.69%. Ucommune rose 0.39% over 5 consecutive days with a cumulative increase of 8.82%. Nongmi Products rose 9.90% over 5 consecutive days with a cumulative increase of 37.60%.
Falling Chinese Concept Stocks: Easy Electric fell 4.59% over 10 consecutive days with a cumulative decrease of 25.18%. Star Map International fell 0.34% over 7 consecutive days with a cumulative decrease of 27.56%. BeiGene fell 4.40% over 6 consecutive days with a cumulative decrease of 11.65%. Vipshop fell 4.75% over 6 consecutive days with a cumulative decrease of 13.06%. Akso Health fell 4.76% over 6 consecutive days with a cumulative decrease of 19.66%.
TSMC: Electricity costs in Taiwan have doubled, now the highest globally among its factories
At TSMC's conference, it was mentioned that electricity price increases in Taiwan are a key factor affecting TSMC's profit margins. Over recent years, costs have doubled, making Taiwan's electricity prices the highest among TSMC's global operations. It's expected that rising electricity costs will impact next year's gross margins by at least 1%.
QM Report: Taobao reaches 190 million potential users after integrating with WeChat
QuestMobile reported that China's mobile internet user base is 1.243 billion. Tencent and Alibaba rank first and second in user numbers, with 1.238 billion and 1.169 billion respectively. After Taobao supported WeChat Pay, new installations increased by 55% year-on-year, reaching a four-year high. Next year's active users are expected to grow by 82.17 million, potentially surpassing 1 billion.
XPeng Motors: No private agreement with the EU
On October 17th, XPeng Motors stated that they have never made any private tariff agreements with the EU and strictly follow national guidelines in tariff negotiations.
TSMC: CoWoS capacity increased over twofold this year but still in short supply
TSMC's chairman stated that the demand for CoWoS advanced packaging far exceeds supply, even after more than doubling capacity this year. TSMC is committed to meeting customer demand for CoWoS.
TSMC's second factory in Japan to start construction this year
TSMC's second factory in Kumamoto, Japan, is set to begin construction in 2024 and start operations in 2027. Preparations are progressing according to plan.
TSMC: This year's capital expenditure slightly above $30 billion, expected to be higher next year
TSMC announced that this year's capital expenditure is estimated to be slightly over $30 billion. Next year's expenditure is expected to increase. Q3 capital expenditure was $6.4 billion, slightly up from Q2.
Zhejiang Natural Resources Department: Alibaba Cloud voluntarily applied to cancel surveying qualifications
Zhejiang's Natural Resources Department confirmed that Alibaba Cloud voluntarily applied to cancel its surveying qualifications, aligning with business strategy adjustments.
Taobao: Closing full refund review entry, expected to reduce 2.65 million poor reviews annually
Taobao is implementing strategies to improve the business environment, including closing the full refund review entry. This is expected to reduce 2.65 million poor reviews annually. The platform has compensated over 300 million yuan to merchants.
TSMC expects Q4 sales of $26.1 billion to $26.9 billion
TSMC forecasts Q4 sales between $26.1 billion and $26.9 billion, with previous estimates at $24.94 billion.
TSMC Q3 2024 revenue of 759.692 billion TWD
TSMC's Q3 2024 revenue was 759.692 billion TWD, compared to 546.733 billion TWD the previous year.
TSMC Q3 net profit of 325.3 billion TWD
TSMC's Q3 net profit was 325.3 billion TWD, exceeding the estimated 299.3 billion TWD, with a gross margin of 57.8%.
Alibaba Cloud responds to surveying qualifications cancellation: Applied voluntarily in April
Alibaba Cloud clarified that the cancellation of surveying qualifications was voluntarily applied for in April.
Industry rumors: ASML and TSMC to negotiate 2025 equipment procurement, ASML aims to increase prices by 3-5%
There are industry rumors that ASML and TSMC will negotiate 2025 equipment procurement, with ASML aiming to raise prices by 3-5%.