Chinese Concept Stocks | Xiaopeng Motors Soars Over 15% Amid P7+ Launch and Strategic Innovations

On November 7th, Eastern Standard Time (Thursday), the major U.S. stock indices showed mixed performance. The S&P 500 Index rose by 0.74% to close at 5973.10 points; the Dow Jones Index remained unchanged at 43729.34 points; and the Nasdaq Index increased by 1.51% to 19269.46 points.

On November 6th, the Nasdaq Golden Dragon China Index fell by 1.83%.

Among popular Chinese concept stocks, Bilibili rose by 8.89%, JD.com increased by 6.62%, NIO gained 6.10%, Pinduoduo rose by 4.40%, TSMC was up by 4.12%, Alibaba increased by 3.54%, Baidu rose by 2.87%, XPeng surged by 15.53%, and NetEase rose by 1.45%.

In the group of continuously rising Chinese concept stocks, Yum China increased by 3.27% over five consecutive days, achieving a cumulative growth of 16.66%. Zhongchi Chafu rose by 19.85% over five days, with a cumulative increase of 15.60%. MKDWELL Tech saw a rise of 7.69% over five days, accumulating a growth of 24.89%. Origin Agritech increased by 3.75% for five days, accumulating a growth of 9.06%. Boqii Pet gained 6.45% over five days, with a cumulative increase of 25.00%.

In the group of continuously declining Chinese concept stocks, XChange decreased by 0.87% over seven consecutive days, with a cumulative decline of 40.31%. Liandai Technology fell by 16.31% over seven days, with a cumulative decrease of 30.44%. Xinghui Yunyin fell by 4.65% over five days, with a cumulative decrease of 21.75%. Huapu Group decreased by 5.29% over four days, with a cumulative decline of 26.65%. Wanchun Pharma fell by 6.55% over four days, with a cumulative decrease of 16.14%. Lichen China decreased by 2.97% over four days, with a cumulative decline of 9.68%. Youkeli fell by 7.41% over four days, with a cumulative decrease of 12.43%. Huaxin Technology decreased by 2.68% over four days, with a cumulative decline of 30.57%. Fresh2 Group fell by 2.60% over four days, with a cumulative decline of 33.82%.

XPeng P7+ Officially Launched XPeng Motors Chairman and CEO He Xiaopeng stated that XPeng's October performance met expectations, transitioning from a phase of high effort with low return to a phase of high return with less effort. According to He, the past two years have been a rebirth phase for XPeng, emphasizing that the environment and competition are not as important as internal challenges. XPeng has not benchmarked against competitors, focusing instead on aligning technology with development timelines.

Alitrip Platform's Hotel Package Sales for Overseas Travel Surpass Last Year's Total in Three Days Alitrip reported that this year's "Double 11" hotel package consumer scale has significantly surpassed last year's total. Domestic high-star hotel packages sold over 2 million units. Sales of overseas travel hotel packages were strong, with transaction volume surpassing last year's total within three days of the "Double 11" sales event. Domestic hotel flash sales grew by over 80% year-on-year.

XPeng P7+ Features AI Advanced Intelligent Driving XPeng P7+ is equipped with the latest cloud-based large model. He Xiaopeng stated that XPeng's current intelligent driving architecture offers higher limits and represents China's leading intelligent driving technology. The P7+ features an AI Eagle Eye driving solution with an 8-megapixel camera and HDR technology, capable of recognizing text, colors, and actions without relying on high-precision maps or lidar for intelligent driving.

XPeng P7+ to Lead Industry into an Era of 4 Cents per Kilometer He Xiaopeng introduced XPeng P7+ as the first vehicle capable of ongoing OTA updates for both range and energy consumption, achieving 615 km and 725 km range through continuous road testing and technical updates. The P7+ sets a new benchmark with an energy consumption level of 10 km per kWh, leading the industry into an era of 4 cents per kilometer.

Trip.com Reports Over 20% Increase in Northern Ski Hotel Reservations Trip.com data shows a 22% year-over-year increase in northern ski hotel orders for the winter season (November to January). Heilongjiang, Hebei, and Xinjiang saw rapid growth in reservations, with Hebei and Xinjiang exceeding a 70% increase year-on-year. Cities like Baishan, Jilin, and Zhangjiakou have high ski hotel order volumes, with Beijing, Hangzhou, Shanghai, Suzhou, and Guangzhou as popular ice and snow tourist sources.

He Xiaopeng on the Mission of XPeng P7+ He Xiaopeng stated that the XPeng P7+ aims to allow more people to enjoy the space and comfort of luxury executive sedans, making luxury feel no longer exclusive to brands like BBA. The second mission is to enable more fuel car users to enjoy advanced intelligence as standard, combining technological luxury with affordability.

XPeng Motors to Increase Production Capacity by 30% to 40% He Xiaopeng announced that the factory will increase production capacity by 30% to 40% in November and December to address delivery delays of the MONAM03 model.

Reports of Corruption Investigation at NetEase Games Media reports indicate that NetEase Games is conducting a corruption investigation involving several executives in the marketing line, with the general manager of the marketing department already taken for investigation. The investigation reportedly involves amounts exceeding 100 million yuan.

Alibaba Spent Approximately $19.9552 Million to Repurchase About 1.6544 Million Shares on November 6th

Alipay and Huawei Terminal Announce Strategic Cooperation Alipay and Huawei Terminal announced a strategic cooperation to deepen collaboration around the HarmonyOS ecosystem and NFC features. Huawei will enhance the user experience of Alipay's NFC features through software and hardware upgrades, while Alipay will continue to invest in the native HarmonyOS ecosystem.

Tmall Establishes Miao Dian E-commerce Company in Ningbo Recently, Ningbo Miao Dian E-commerce Co., Ltd. was established with a registered capital of 1 million yuan, engaging in internet sales, communication equipment sales, second-hand daily goods sales, and new energy vehicle sales. The company is wholly owned by Zhejiang Tmall Technology Co., Ltd.

Bank of Communications Adjusts Debit Card Quick Payment Limit on Alipay Starting November 18, 2024, Bank of Communications will increase the quick payment limit for debit cards on Alipay consumption scenarios to a single transaction limit of 200,000 yuan, with a daily cumulative limit of 200,000 yuan and a monthly cumulative limit of 6 million yuan. Other scenarios like Alipay transfers, wealth management, and repayments will maintain the current limits.

Bayer China and Alibaba Cloud Announce Strategic Cooperation Bayer announced at the 7th China International Import Expo that its prescription medicine division in China will fully adopt the "Salesforce on Alibaba Cloud" solution.

ZTO Express Partners with CDFG to Enhance Membership Purchase Delivery Services in Hainan Free Trade Port ZTO Express and CDFG announced a partnership to optimize the delivery service for CDFG membership purchases in the Hainan Free Trade Port. The collaboration aims to improve logistics efficiency, ensuring efficient transportation of duty-free goods with optimized collection, transportation, and delivery processes.