Chinese Concept Stocks | NIO and XPeng Surge Amid Broad Gains in Chinese ADRs

On March 11 (Tuesday), Eastern Standard Time, the three major U.S. stock indices collectively closed lower. The S&P 500 index fell by 0.76%, closing at 5572.07 points; the Dow Jones index fell by 1.14%, closing at 41433.48 points; and the Nasdaq index fell by 0.18%, closing at 17436.10 points.

On March 11, the Nasdaq China Golden Dragon Index rose by 2.83%.

Among popular Chinese concept stocks, Alibaba rose by 4.91%, Bilibili rose by 4.40%, Pinduoduo rose by 2.03%, Baidu rose by 2.03%, NIO rose by 16.82%, XPeng rose by 14.73%, NetEase rose by 1.97%, JD.com rose by 0.27%, and TSMC rose by 0.25%.

Companies on a continuous rise include Zhongjin Medical with a latest increase of 1.11%, rising for 6 consecutive days, and a cumulative increase of 25.53% during this period. iClick rose by 5.13%, with a 6-day streak and a cumulative increase of 39.53%. Mingzhu Logistics rose by 6.04%, with 6 consecutive days, achieving a cumulative increase of 31.05%. 51talk rose by 0.10% over 5 days, with a cumulative increase of 19.62%. Luda Technology rose by 0.72% over 5 days, with a cumulative increase of 6.65%.

Companies on a continuous decline include Lotus Technology with a latest decrease of -1.32%, falling for 9 consecutive days, and a cumulative decrease of -36.97% during this period. Next Technology fell by -10.01% over 9 days, with a cumulative decrease of -71.73%. Aurora fell by -0.33% over 8 days, with a cumulative decrease of -27.49%. I-Mab fell by -1.12% over 7 days, with a cumulative decrease of -13.29%. Yunxuetang fell by -2.49% over 6 days, with a cumulative decrease of -49.99%.

Hesai Technology surged over 38%, with Q4 2024 net profit of 147 million yuan. The company expects to ship 200,000 units of robotic LiDAR this year.

Yonghui Superstores announced that shareholder JD World Trade plans to reduce holdings by no more than 2.66 billion shares, accounting for 2.94% of the company's total share capital. Through centralized bidding transactions, up to 90.75 million shares will be reduced, accounting for no more than 1.00% of the total share capital. Through bulk transactions, up to 176 million shares will be reduced, accounting for no more than 1.94%. The reduction period will be within three months starting 15 trading days after the announcement.

Zhao Siqi, Senior Technical Expert at Alibaba DAMO Academy, was officially elected as the Chairman of the RISC-V International Foundation AME TG. Xuantie initiated and continues to lead AME community construction. Since 2022, Xuantie has focused on Matrix research, designing and open-sourcing the Attached Matrix Extension scheme, and implementing hardware on the Xuantie CPU IP. Over the past year, the community has shown great interest in Matrix-related instruction sets, with multiple companies participating in AME TG discussions and proposing instruction set schemes.

JD Global Purchase recently announced the launch of its 2025 buyer recruitment plan, introducing initiatives such as zero-cost trial operations and one-on-one operation guidance to reduce the entry threshold for merchants, increase assistance, and continuously recruit individuals and sole proprietors to join. The recruitment plan includes "three cooperation models" and "five support policies," offering full-chain support from store opening to explosive orders for overseas buyers (such as international students and overseas Chinese) or sole proprietors.

BOSS Zhipin announced revenue of 1.824 billion yuan for Q4 2024, a year-on-year increase of 15.4%. Annual revenue for 2024 was 7.356 billion yuan, a year-on-year increase of 23.6%. Net profit for Q4 2024 was 444 million yuan, a year-on-year increase of 34.1%. Annual net profit for 2024 was 1.567 billion yuan, a year-on-year increase of 42.6%.

On March 10, JD Logistics officially launched operations at its second warehouse in Warsaw, Poland, which primarily provides integrated supply chain logistics services for cross-border enterprises. JD Logistics currently has over 100 overseas warehouses, bonded warehouses, and direct mail warehouses globally, with a total management area exceeding 1 million square meters. Overseas warehouse area is expected to double by 2025.

Meta has reportedly begun testing its first self-developed AI training chip, in collaboration with TSMC for production.

On March 11, Li Auto announced the nationwide road test of its lightly camouflaged i8 model starting March 10. Li Auto stated that removing heavy camouflage before its release helps finalize tuning for driving, wind noise, range, and exterior design. The i8 is Li Auto's first pure electric SUV and the first product in the Li series, positioned as a mid-to-large six-seat SUV, and is set to be released in July 2025.

Baidu has recently launched an emotional companionship app called "Moon Box," which features high-freedom AI dialogue and immersive script interaction as its core functions. The app is equipped with Baidu's self-developed large language model and integrates external models such as DeepSeek, Doubao, and MiniMax abab to build a virtual character ecosystem, aiming to explore new avenues in the pan-entertainment social field.

On March 10, JD Group announced a cooperation agreement with the Union of European Football Associations. According to the agreement, JD will become the official e-commerce innovation partner of the UEFA Champions League. In addition to the Champions League, JD will also cooperate with the UEFA Super Cup, Futsal Champions League, and UEFA Youth League. The official store of the Champions League will exclusively be hosted on JD and will have exclusive operating rights in Greater China. JD will also work with the Champions League to explore the development of exclusive licensed products.

He Xiaopeng, Chairman of XPeng Motors and National People's Congress representative, stated in an interview that XPeng Motors has been deeply involved in the humanoid robot industry for five years and may need to invest another 50 billion yuan in the future. He believes that both AI car companies and humanoid robot companies face the challenge of "where does the data come from." In his view, the accumulation of large model data will become a barrier for the humanoid robot industry, with research and development investment far exceeding that of the automotive industry. "XPeng Motors has been deeply involved in the humanoid robot industry for five years, and may need to continue for another 20 years, potentially investing 500 billion yuan or even over 1,000 billion yuan. Currently, we are still in the early stages, and investments will be relatively conservative." He Xiaopeng believes that transitioning humanoid robots from L2 to L3 levels is very challenging.