Tencent Music and NetEyun Music both reached cooperation with Universal Music, and the competition for copyright began again; the market expects ZTO Express's Q2 revenue to increase by nearly 14% compared with the same period last year; HUYA Inc. announced Q2 financial results, and the total revenue exceeded 34% year-on-year growth than expected.

Russian President Vladimir Putin announced on Tuesday that Russia has registered the world's first Covid-19 vaccine, and his daughter has taken the lead in receiving the vaccine. The US stock market opened higher and lower on Tuesday. S & P had been on track to hit a new annual high, but closed down for the first time in nearly eight trading days, with all three major stock indexes closing lower towards the end of the day.

By the close, the Dow was down 104.53 points, or 0.38%, at 27686.91; the Nasdaq was down 185.54, or 1.69%, at 10782.82; and the S & P 500 was down 26.78, or 0.8%, at 3333.69.

In terms of US-listed Chinese stocks, a total of 98 US-listed Chinese stocks rose and 172 fell.

The specific performances of popular US-listed stocks are as follows:

Among large-scale Chinese stocks, BABA rose 0.12% to $248.42, JD.com fell 0.5% to $61.18, Bilibili Inc. fell 1.61% to $40.34, TSMC fell 2.42% to $77.94, and NIO Inc. fell 8.59% to $12.99.

As for other hot Chinese stocks, Huami Technology rose 10.24% to US $13.46, Huazhu rose 4.36% to US $38.27, and Xueji rose 1.51% to US $98.02.

Among the biggest declines, Niu Technologies fell by more than 5%, So-young International Inc, Lancheng Brothers and Kingsoft Cloud Holdings all fell by more than 3%, and Youdao, Inc fell by 2.81%.

Focus review

• Q2 has a gross profit margin of 8.4% and becomes a regular employee for the first time. Li Bin: NIO Inc. 's BaaS model plan will be officially released in Q3.

NIO Inc. and Li Bin said that NIO Inc. has made great progress in its innovative business model of separation of cars and electrics. the company has completed all the product announcement and certification required for the separate sale of complete vehicles and batteries, and the first BaaS model vehicle has also completed the verification of insurance, loan, licensing and other processes. "this is a major breakthrough in NIO Inc. 's technology and business model innovation. At present, we are still making final preparations for the formal provision of BaaS model services, and the implementation plan will be officially released in the next three quarters. "

NIO Inc. 's total revenue in the second quarter was 3.72 billion yuan, up 146.5 percent from the same period last year, exceeding market expectations of 3.5 billion yuan; gross profit was 8.4 percent, becoming a regular employee; car sales were 3.486 billion yuan, an increase of 146.5 percent over the same period last year; car delivery volume was 10331, compared with 3553 in the same period last year.

NIO Inc. fell more than 8% in intraday trading on Tuesday, closing at $12.99.

• IQIYI, Inc. responded to the rumor of "secondary listing in Hong Kong": no comment

It is reported that iQIYI, Inc. will make a secondary listing in Hong Kong and is in talks with investment banks. IQIYI, Inc. said he would not comment.

Notably, Tencent (00700) is seeking to become the largest shareholder of competitor iQIYI, Inc. in order to reduce costs and cope with competition in the industry, people familiar with the matter reported on June 17.

The source pointed out that Tencent contacted Baidu, Inc., who holds a 56.2% stake in iQIYI, Inc., but could not determine the scale of Tencent's proposed purchase at this stage. According to 36Kr Holdings, this new news may be the result of the collapse of previous potential deals. However, returning to Hong Kong for secondary listing is also an important option for many Chinese companies listed in the United States.

• Tencent Music and NetEyun Music both reached cooperation with Universal Music, and the competition for copyright began again.

On August 11, NetEase, Inc Yun Music and Tencent Music successively reached a cooperation with Universal Music Group. NetEyun Music will be licensed from Universal Music's massive music library and extended to its community product, Mlog, and the two sides will jointly carry out more in-depth and extensive cooperation in more areas such as music products, services and distribution.

• Sogou has hired Duff & Phelps as an independent financial adviser to review and evaluate Tencent's non-binding proposal.

Sogou announced that the special committee of the company's board of directors has hired Duff & Phelps, LLC as its independent financial adviser.

The purpose of the Special Committee is to review and evaluate the non-binding proposal received by Tencent Limited (including its subsidiaries) on 27 July 2020. According to the proposal, Tencent intends to acquire all issued common shares of Sogou, including those represented by American depositary shares, at a price of US $9 per common share or American depositary share.

• The market expects ZTO Express's Q2 revenue to increase by 13.9% over the same period last year.

ZTO Express will release his second-quarter results after trading on Wednesday, Aug. 12. Earnings per share are widely expected to be 27 cents per share, up 8 percent from a year earlier, and revenue is expected to be $900.1 million, up 13.9 percent from a year earlier.

In the past two years, 75% of the time the company actually reported earnings per share exceeded expectations, and 63% of reported revenue exceeded expectations. In the past three months, its earnings per share forecast has been raised once and lowered four times, while expected revenue has been raised 0 times and lowered 4 times.

• HUYA Inc. announced the Q2 financial report, the total income increased by 34% over the same period last year and exceeded expectations.
  

In the second quarter, HUYA Inc. 's total income rose 34.2% year-on-year to 2.697 billion yuan, exceeding management expectations for the ninth consecutive quarter since going public. Under non-US general accounting standards, the net profit attributed to HUYA Inc. was 351 million yuan, up 106.0% from a year earlier to a new high, making a profit for 11 consecutive quarters. In the second quarter, the number of monthly active users of HUYA Inc. Live increased 17.1% to 168.5 million compared with the same period last year, another all-time high.