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

1.1 the overall performance of the equal weight index of US-listed stocks

Since January 1, 2015, weighted indices such as US-listed stocks have risen 311.94%, significantly outperforming the S & P 500, with a relative return of 218.9%. The overall performance is significantly better than that of the US stock market, but it has fallen sharply recently.

Note: Chinese stocks and other weighted index components include a portfolio of equally weighted Chinese stocks constructed by 75 companies, which are screened for Chinese stocks with a market capitalization of more than 1 billion US dollars (excluding state-owned enterprises listed in many places) and adjusted every six months.

The US-listed index is down 0.05 per cent so far this year and is down 12.05 per cent this week.

Us US Chinese stocks fell significantly this week, taking into account the uncertainty in Sino-US relations and the escalation of policy risks. Chinese stocks as a whole are under pressure this week, with returns lower than the S & P 500 for the first time in nearly a year.

1.2 U.S.-listed stocks rose TOP10

1. Burning Rock Biotech Ltd. (BNR.US) disclosed its annual report this week that in 2020, Burning Rock Biotech Ltd. 's annual revenue was 430 million yuan, an increase of 12% over the same period last year; in terms of specific business, the revenue of the central laboratory business in 2020 was 297.3 million yuan, an increase of 7.6% over the same period last year; the revenue of hospitalization business was 117.9 million yuan, an increase of 34.4% over the same period last year, and the revenue of pharmaceutical R & D services was 14.7 million yuan, down 17.2% from the same period last year.

1.3US-listed stocks fell TOP10

1. A large number of loss-making enterprises in US Chinese stocks fell sharply this week, among which who learned from and RLX Technology Inc. were all affected by the policy side, which led to a sharp drop in stock prices.

The online education sector is facing a sharp adjustment as it is affected by tighter regulatory policies this week. A person in charge of the Ministry of Education said that standardizing extracurricular training and reducing students' heavy extracurricular burden is normal work, and the problems of excessive marketing, selling anxiety and excessive training of extracurricular tutoring will be standardized and rectified in the future. Affected by this regulatory pressure, the share price fell 41.56% on Friday.

2. RLX Technology Inc. 's share price fell more than 50 per cent this week under the influence of a draft of e-cigarette regulation.This week, the Ministry of Industry and Information Technology announced the decision on revision (draft for soliciting opinions), adding an article to the supplementary provisions as Article 65: "Electronic cigarettes and other new tobacco products shall be implemented with reference to the relevant provisions of these regulations on cigarettes. The possible intensity of supervision exceeded market expectations, resulting in a sharp fall in RLX Technology Inc. 's share price.

II. Important news of companies in key industries

1. On Friday, more than one US Chinese stock market plummeted in a panic style.On the one hand, the United States began to implement the Foreign Company Accountability Act, which made investors worried about the increased risk of delisting of Chinese stocks. On the other hand, an internal e-mail from Goldman Sachs Group was circulated online on Friday, showing that the bank hung out a number of orders for US-listed stocks on behalf of an unknown seller before the opening of trading on Friday, including Baidu, Inc., Tencent Music, Vipshop Holdings Limited and other US-listed stocks. According to several media reports, the reason behind this is the explosion of hedge fund manager Bill Hwang.

2. New energy vehicles are exempted from vehicle purchase tax. The list will be cancelled and released.

On March 23rd, the Ministry of Industry and Information Technology issued a list of models of new energy vehicles exempted from vehicle purchase tax, including ideal ONE LXA6500SHEVM1 models. In this regard, the ideal response said that the cancellation of vehicle purchase tax exemption models have been suspended, the market sale of tax-free models will not be affected.

2. HUYA Inc. announced the financial report that the net profit of Q4 was 306 million yuan.

According to HUYA Inc. 's financial report, the total income in the fourth quarter of 2020 was 2.99 billion yuan, an increase of 21.2 percent over the same period last year, while the total income for the whole year of 2020 was 10.914 billion yuan, an increase of 30.3 percent over the same period last year. Under non-US GAAP, net profit attributed to HUYA Inc. was 306 million yuan in the fourth quarter of 2020, up 26.5 per cent from a year earlier.

3. Momo Inc announced the financial report that the net profit of Q4 belonging to the mother was 2.896 billion yuan.

According to Momo Inc's financial report, the company's net revenue reached 3.7952 billion yuan in the fourth quarter of 2020, compared with 4.688 billion yuan in the same period last year. According to non-American general accounting standards, the net profit attributed to strangers in the fourth quarter of 2020 was 836.4 million yuan; in 2020, Momo Inc's net revenue was 15.0242 billion yuan, compared with 17.015 billion yuan in the same period last year. As measured by non-American general accounting standards, the net profit belonging to the strange parent company is 2.8962 billion yuan.

4. Zhihu Inc., a Q & A community, broke 10.53% on the first day of listing.

Zhihu Inc., China's largest online Q & A community, will officially list for trading on the New York Stock Exchange, with IPO priced at $9.50 and raising $522.5 million. It closed down 10.53% on its first day of trading.

Bilibili Inc.-SW closed down 6.5% in dark trading.

Bilibili Inc.-SW (09626.HK) $announced on Friday that the company will issue 25 million shares at a price of HK $808 per share, 20 shares per share, and is expected to list on March 29th. Based on Thursday's closing price of US stocks of US $96.65, the price of Hong Kong shares is about HK $743, a discount of 8.05% to the price of HK $808.

6. The first model of the cooperation between Baidu, Inc. and Geely will be on sale by 2024 at the latest.

Baidu, Inc. CEO Li Yanhong said in an interview that the first Jidu model in cooperation with Geely will integrate Baidu, Inc. 's most advanced self-driving technology and AI capabilities, and is expected to be on the market by 2024 at the latest, confident that it will become the most attractive smart car. The commercialization of self-driving open platform Apollo "has begun and is growing rapidly", and will continue to invest heavily in self-driving technology in the next 10 to 20 years.

III. Summary and summary

Us-listed Chinese stocks fell more and rose less this week, with returns lower than those of the S & P 500. Due to the growing uncertainty and regulatory risks in Sino-US relations, coupled with the rumored "explosion" in the market, US stocks fell sharply this week. In addition, extracurricular teaching and e-cigarette industry are facing the escalation of domestic regulatory pressure, which has a great impact on the fundamentals.