A review of the performance of the US-listed stock market in one week

1. The overall performance of the China-listed stock index

Weighting indices such as US-listed stocks have risen 378 per cent since January 1, 2015, significantly outperforming the S & P 500 with a relative return of 293 per cent.

The index of US-listed stocks is up 16.05% so far this year and is down 2.54% this week.

The top three gainers this week were gambling stock Melco Resorts and Entertainment Ltd (+ 16 per cent), tumor genetic testing company Burning Rock Biotech Ltd. (+ 14 per cent) and data center operator Chindata Group Holdings Limited (+ 8 per cent). The stocks with the biggest declines are mainly the huge gains so far this year, and some profits are affected by the sharp correction of the market, such as Voice Network (- 38%), LexinFintech Holdings Ltd. (- 26%), EHang Holdings Limited (- 23%) and so on.

2. Chinese stocks rose by TOP10

1) despite the poor performance of the annual report, Melco Resorts and Entertainment Ltd bucked the trend by 16% this week.

Melco Resorts and Entertainment Ltd, a U.S.-listed subsidiary of City of Dreams International Development (00200-HK), reported a total operating income of $1.73 billion, a year-on-year decline of 69.9%, and a net loss of $1.26 billion.

However, Lawrence Ho, the chairman of the company, was more optimistic about the outlook in the performance conference call because he saw a rebound in the number of tourists at the end of the Lunar New year this year. It was also pointed out that the Macao Government had also actively discussed with the mainland authorities to speed up the approval of individual tours and tour groups in Macao. Therefore, he believed that there would be a strong rebound in the number of visitors in the future. As COVID-19 accelerates the use of the vaccine, he expects to begin to see the normalisation of business in the Macao market by the end of the second quarter of this year, and predicts that by the end of this year, all businesses except VIP business will rebound to near the end of 2019.

2) the earnings report is positive and the big bank increases the target price, which pushes Vipshop Holdings Limited up 3% against the weekly trend.

Vipshop Holdings Limited, a brand-selling e-commerce company, unveiled its unaudited financial results for the fourth quarter of 2020 on February 25, 2021.

Vipshop Holdings Limited's fourth-quarter net income was 35.8 billion yuan, while GMV was 59.3 billion yuan, up 25 per cent from a year earlier, according to financial data. Under general accounting standards, Vipshop Holdings Limited's net profit to shareholders was 2.4 billion yuan, up 67.7 percent from 1.5 billion yuan in the fourth quarter of 2019.

Since the domestic epidemic situation has slowed down and stabilized, the number of Vipshop Holdings Limited users has increased significantly. After the number of active users increased by 17% in the second quarter and 36% in the third quarter of 2020, Vipshop Holdings Limited's total active users reached 53 million in the fourth quarter, up 37% from the same period last year.

UBS, the big bank, also raised its target price for Vipshop Holdings Limited (VIPS.US) to $48 from $29.

3. China-listed stocks fell TOP10.

1) the net loss for the whole year exceeded expectations and rose sharply in the previous period, plummeting by 38% this week.

Agora (also known as Zhaoyan Network) previously announced its results for the fourth quarter and full year of 2020. In the fourth quarter, Sound.com had revenue of $33.25 million, up 74.1 per cent from a year earlier. For the whole of 2020, total revenue was $134 million, an increase of 107.3% over the same period last year.

As of December 31, 2020, the number of registered applications worldwide has exceeded 272000, with an average of 9000 new registered applications in Q4 per month, and the number of active customers has reached 2095, an increase of 101.2% over the same period last year.

The results also showed a net loss of $6.182 million in the fourth quarter, compared with a loss of $2.342 million in the same period last year. The net loss was $3.11 million in 2020 and $6.18 million in 2019.

2) affected by a sharp correction in the market as a whole, LexinFintech Holdings Ltd. closed down 26% this week.

From 2021 to Monday, spurred by all kinds of good news, such as the landing of Internet loan regulatory policies and the upgrading of ratings by big banks, LexinFintech Holdings Ltd. has risen 128% and has accumulated a considerable proportion of profit pounds. so this week, without obvious negative influence, LexinFintech Holdings Ltd. closed down 26% on a weekly basis at a time of the overall correction in the US stock market.

II. Trends of key companies

1. The revenue of B station in the fourth quarter was 3.84 billion yuan, an increase of 91% over the same period last year, and the number of monthly paying users doubled.

Bilibili Inc. announced on Wednesday the results for the fourth quarter of 2020: Q4 revenue of 3.84 billion yuan, the previous value of 2.008 billion yuan, an increase of 91% compared with the same period last year. The number of monthly active users reached 202 million, and the number of mobile users reached 186 million, up 55% and 61%, respectively; daily active users reached 54 million, up 42% from a year earlier. The adjusted net loss of Q4 reached 681 million yuan, compared with 336 million yuan in the same period last year.

two。 NetEase, Inc's adjusted net profit of Q4 is lower than that of the same period last year.

NetEase, Inc (NTES.US) had a net income of 19.76 billion yuan, up 25.6 per cent from a year earlier. The continuing net profit attributed to the shareholders of the company is 980 million yuan. Under non-generally accepted accounting standards, the continuing net profit belonging to the shareholders of the company is 1.6 billion yuan and 3.05 billion yuan in 2019.

For the whole of 2020, NetEase, Inc's net income was 73.67 billion yuan, an increase of 24.4% over the same period last year. Under non-generally accepted accounting standards, the continuing operating net profit attributed to the shareholders of the company is 14.71 billion yuan and 15.66 billion yuan in 2019.

3. Net income of youdao Q4 increased by 169.7% year on year

Youdao (DAO.US) announced before trading on Thursday that net income in the fourth quarter of 2020 reached 1.107 billion yuan, up 169.7 percent from the same period last year; gross profit margin rose to 47.5 percent, compared with 29.8 percent in the same period last year; operating cash flow turned positive again, reaching 129 million, this is the third time that NetEase, Inc youdao achieved positive operating cash flow in 2020; online course sales were 1.119 billion yuan, an increase of 222.8 percent over the same period last year.

4. It is said that Trip.com plans to list in Hong Kong in April, raising 1 billion to 2 billion US dollars.

Reuters IFR,$ TRIP COM GRP LTD (TCOM.US) $plans to list in Hong Kong in April, raising between $1 billion and $2 billion. In addition, the company announced that it will release its fourth-quarter and full-year 2020 results after the U.S. stock market closes on March 3, 2021. Trip.com closed up 2.27% on Tuesday.

5. Weibo Corp hired an investment bank to arrange a secondary listing in Hong Kong, or raised US $700 million.

$Weibo Corp (WB.US) $has appointed Goldman Sachs Group, Credit Suisse and CLSA to oversee its planned secondary listing in Hong Kong in the second half of 2021, which could raise up to $700m, according to people familiar with the matter. Weibo Corp closed up 1.39 per cent on Tuesday.

III. Summary and summary

This week, weighting indices such as US-listed stocks continued their decline last week, falling 2.54 per cent, mainly due to the rapid rise in interest rates on long-term US Treasuries, but still achieved a positive return of 16 per cent so far this year.

Although the medium-term general plate is affected by macro factors in the short term, it is still facing a lot of downside risks, but in the medium-and long-term trend, the investment value of the general plate is significant, so it is still necessary for investors to pay attention to high-quality Chinese stocks.