On Wednesday, Biden's new stimulus bill faced resistance and cold ADP jobs data in February put pressure on U.S. stocks, dragged down by technology stocks, and the Nasdaq fell more than 360 points to break the 13000 mark.

Most popular Chinese stocks fell, of which 32 fell and 9 rose.

The specific performance is as follows:

In terms of large-scale China-listed stocksAlibaba rose 0.79%, JD.com fell 2.86%, Pinduoduo fell 3.86%, Vipshop Holdings Limited rose 3.22%, Bilibili Inc. rose 0.61%, Baidu, Inc. fell 7.99%, NetEase, Inc fell 2.63%, iQIYI, Inc. rose 1.77%, Tencent Music rose 0.18%, and Weibo fell 2.10%.

New energy vehicle stocks continue to declineNIO Inc. fell 4.07%, XPeng Inc. fell 4.67%, and Li Auto Inc. fell 4.09%.

Focus review

• Trip.com 's 2020 financial report: the annual transaction volume is 395 billion yuan and the operating profit margin in the fourth quarter is 10%.

In 2020, Trip.com 's GMV reached 395 billion yuan, ranking first in the global online travel industry for three consecutive years, with an annual net operating income of 18.3 billion yuan. Excluding equity fee remuneration, Trip.com Q4 has an operating profit margin of 10 per cent, net operating income of 5 billion yuan and a gross profit margin of 82 per cent. In terms of revenue breakdown, Trip.com Q4 accommodation booking operating income of 2.2 billion yuan, annual accommodation booking revenue of 7.1 billion yuan; transportation ticketing business in Q4 and annual revenue of 1.7 billion yuan and 7.1 billion yuan respectively.

Trip.com rose nearly 4 per cent in after-hours trading.

• It is reported that the top management of NetEYun Music has changed, and Ding Lei is in charge of the actual business.

According to the market news$NetEase, Inc (NTES.US) $Li Yin, former vice president of NetEYun music market, left in February to join a small Internet giant. The reporter also learned from a number of sources that Zhu Yiwen, CEO of NetEase, Inc Yun Music, had been "internally downgraded" at the end of 2020. His rank has not changed yet, but NetEase, Inc CEO Ding Lei has taken up the job of NetEyun CEO and is in charge of the actual business.

NetEyun Music responded that Li Yin, vice president of NetEase, Inc Yun music market, had recently left office, and NetEase, Inc made adjustments to NetEYun music business. After the adjustment, NetEase, Inc Yun Music will continue the previous collective decision-making mechanism of the management committee. Li Yin, vice president of NetEase, Inc's music market, has recently left office for personal reasons, NetEyun Music said. Rong Sheng's mother and husband and wife understand and respect her personal choice, even if they do not give up.

• It is reported that Pinduoduo ranked first in the industry during the Spring Festival.

According to QuestMobile$Pinduoduo (PDD.US) $DAU ranks first in the industry during the Spring Festival.

The 2021 Spring Festival special insight report released by QuestMobile, a third-party data agency, shows that during the Spring Festival, the average daily use time of Pinduoduo increased by 25.9% compared with the same period last year, with the fastest growth rate among the App with an average daily DAU of more than 100 million. Pinduoduo App's daily active users (DAU) topped the industry in the first and second days of the Lunar New year.

• Deutsche Bank: it is recommended to buy on the bargain, reiterating NIO Inc. 's target price of $70.
  

$NIO Inc. (NIO.US) $Deutsche Bank analyst Edison Yu reiterated its "buy" rating on the company after the Q4 results were announced, with a target price of $70. Yu said NIO Inc. 's delivery volume could reach 100000 in 2021, although he conservatively expected it to be 96000, 6000 more than his previous forecast.

Yu believes that with the increase of NIO Inc. 's brand awareness, the company is expected to become a leader in China's high-end automobile market. In addition, he says, there are several untapped areas for growth. NIO Inc. may develop different brands by establishing partnerships to cater to the mid-market / mass market. The subscription model of the company's autopilot system, NAD, will also bring opportunities.

• XPeng Inc. released a new model, and Morgan Stanley raised its target price to $70.

$XPeng Inc. (XPEV.US) $It was announced yesterday that it will add three new versions of the model, XPeng Inc. P7 new rear-drive standard endurance model, a total of smart version and Zhizun version both use lithium iron phosphate battery, NEDC battery life 480km, the price is 229900 yuan, 239900 yuan; XPeng Inc. G3 new 460c enjoy version, battery type for lithium iron phosphate, while replaced with low wind resistance wheels, NEDC battery 460km, the price is 149800 yuan.

After XPeng Inc. announced the new version of the model, Morgan Stanley subsequently released his research report on XPeng Inc., saying that although XPeng Inc. 's two new models using lithium iron phosphate were lower in cruising than the previous version, both cars upgraded their vehicle specifications and improved the learning ability of self-assisted driving and self-driving, which will be a good guarantee for XPeng Inc. 's brand value and increase XPeng Inc. 's rating. Raise the target price to $70.

• Autohome Inc returns to Hong Kong for listing and is expected to log on to the HKEx on March 15.

$Autohome Inc (ATHM.US) $Return to Hong Kong for listing, announced today, will be listed from March 4 to March 9, each offering price of no more than HK $251.8, 100 shares per share, with a minimum subscription amount of about HK $25433.74, is expected to be listed on March 15.

It is reported that the company is the leading online service platform for automobile consumers in China. According to the data of Guishi Mobile, it ranks first in the automobile service platform according to the daily active users of mobile end as of December 31, 2020.