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

1. The overall performance of the equal weight index of China-listed stocks

Since the establishment of the portfolio on January 1, 2015, weighting indices such as US-listed stocks have risen 307.38 per cent and have consistently outperformed the benchmark S & P 500, with a relative return of 204.10 per cent and an annualised return of 24.91 per cent.

The index is down 1.15% year-to-date, outperforming the s & p 500. Due to the recent negative news, many US-listed Chinese stocks continued to fall, with the index down 2.73% this week.

Us stocks are more divided this week, with the new energy car sector falling, with Li Auto Inc. (LI.O) showing a sharp pullback, down more than 10 per cent. The biotechnology sector was strong, with Zai Lab Limited and I-MAB up more than 10 per cent.

Note: Chinese stocks and other weighted index components include 75 companies that have constructed a portfolio of equally weighted Chinese stocks, screening Chinese stocks with a market capitalization of more than 1 billion US dollars (excluding state-owned enterprises listed in many places) and adjusting them every six months.

two。 Us-listed stocks rose by TOP10

1) Zai Lab Limited: Zai Lab Limited's weekly increase is 23.87%, and tumor electric field therapy has made positive progress in the treatment of lung cancer.

On the 13th, Zai Lab Limited and Novocure jointly announced the positive progress of tumor electric field therapy (Tumor Treating Fields,TTF) in the key phase 3 clinical trial for the treatment of patients with non-small cell lung cancer. Zai Lab Limited has the development rights and interests of tumor electric field therapy in Greater China. The Independent data Monitoring Commission (DMC) recommended that the clinical trial continue, and Mr. Asaf Danziger, CEO of Novocure, said the proposed changes were expected to speed up the trial by more than a year.

2) I-MAB: I-MAB 's weekly increase of 10.36%, announced that TJD5's US Phase 1 clinical research results were selected for the annual presentation and report of ASCO.

On April 14, I-MAB announced that the results of his self-developed, differentiated CD73 antibody uliledlimab (also known as TJD5) phase 1 clinical research was selected as the Wall report of the 2021 annual meeting of the American Society of Clinical Oncology (ASCO), and its share price rose 11% on the same day. Significant progress has been made in the global clinical development of Uliledlimab, and detailed data will be presented at the ASCO annual meeting from June 4 to 8, 2021.

3. China-listed stocks fell TOP10

EHang Holdings Limited: EHang Holdings Limited continued to lose money in the 2020 fiscal year, with a weekly decline of 18.92%

On the 16th, EHang Holdings Limited, the "first share of drones", announced its 2020 performance forecast that the total revenue in 2020 was 180 million yuan, the revenue growth rate dropped to 47.8 percent from the same period last year, the total operating cost was 200 million yuan, up 68.7 percent from 120 million yuan in 2019, and the net loss widened to 92 million yuan from 47.92 million yuan in 2019. EHang Holdings Limited's share price fluctuated as soon as the news was announced, falling more than 6 per cent at one point in intraday trading and recovering to 3.53 per cent at the close.

II. Important news of companies in key industries

1. Munger responded to the purchase of BABA: a small amount held as cash equivalents, better than US Treasuries

Charlie Munger, chairman of Daily Journal, said recently: "because the yields on government bonds are too low recently, we decided to invest in common stocks instead." However, unless such common stocks have good long-term prospects, they will not be seen as excellent cash equivalents. At present, a small portion of Daily Journal's cash equivalents are made up of BABA's common shares.

2.12 Internet platforms issued compliance commitments, including Baidu, Inc. and JD.com

On the 14th, the General Administration of Market Supervision focused on announcing the "Business Compliance commitments" of Internet platform enterprises (the first batch). Including Pinduoduo Baidu, Inc., JD.com, Meituan, byte beat, Qihoo 360, Sina Weibo Corp, Dingdong (Cayman) Limited, Pinduoduo, Xiao Hongshu and other enterprises.

3. Taiwan Semiconductor Manufacturing Co Ltd's 21Q1 revenue hit a record high and sharply raised its annual performance guidance.

According to the financial report, 21Q1 Taiwan Semiconductor Manufacturing Co Ltd's revenue was 12.92 billion US dollars, up 25.4 percent from the same period last year, up 1.9 percent from the previous month, a record high; gross profit margin was 52.4 percent, down 1.6 percent from the previous month. Taiwan Semiconductor Manufacturing Co Ltd expects the chip shortage to last until 2022. Semiconductors will usher in a high boom this year, wafer foundry output will grow by 16%, and Taiwan Semiconductor Manufacturing Co Ltd's revenue (in US dollars) will grow by 20%. It is also revealed that the demand for various platforms and advanced processes is stronger than it was three months ago.

4. NIO Inc. strengthens the energy moat and plans to build another 299 second-generation power stations this year.

NIO Inc. signed a strategic cooperation agreement with China Petroleum & Chemical on April 15 to deploy power station replacement in the latter's existing gas station system. The first exchange power station jointly operated by the two sides was opened at the same time, and it is also NIO Inc. 's 201th exchange power station. Shen Fei, vice president, expects to complete the deployment target of 500 power stations this year. NIO Inc. sold 19844 of its three models, the ES8, ES6 and EC6, in the first quarter of 2021, a year-on-year increase of 420%.

5. Bilibili Inc. CEO Chen Rui: the number of online video users in China will exceed 1.2 billion within 5 years.

Bilibili Inc. CEO Chen Rui said that video will be a very big wave in the Internet field. "based on the current growth rate, I think as fast as three years and as slow as five years, the number of online video users in China will exceed 1.2 billion." In other words, in almost five years, all Internet users will become video users. "

6. Waterdrop Inc. 's IPO in the United States plans to land on the New York Stock Exchange, and nearly 90% of its income comes from insurance commissions.

On April 17, Waterdrop Inc. submitted a prospectus to SEC of the United States, applying for listing on the New York Stock Exchange under the symbol "WDH", with a tentative capital raising of US $100m. Waterdrop Inc. said that the funds raised will be used to strengthen and expand health services and health insurance business, research and development. Invest in data analysis and technical infrastructure, as well as deepen partnerships with medical institutions, with the goal of building an "insurance + health services" ecosystem. "

III. Summary and summary

This week, the weighted index of US-listed stocks fell 2.62%, and the companies in the index rose less or lower, especially those with big gains earlier this week. The rising US-listed stocks were mainly concentrated in biotechnology and Internet software services. Zai Lab Limited and I-MAB 's share prices rose significantly this week, reflecting the current market funds' pursuit of companies with strong performance expectations.

From a news point of view, the new energy car track is still a "hot land": NIO Inc. is discussing plans to change power stations, Faraday will enter the field of new energy vehicles, and Huawei has launched the Polar Fox Alpha saying it can achieve "self-driving 1,000 kilometers without intervention in a busy city."

However, judging from the stock price performance, the US new energy automobile sector suffered a pullback this week, with Li Auto Inc. down more than 10% and NIO Inc. down 5.33%, reflecting that investors' attention to the early hot concept stocks is gradually decreasing, and the market sentiment tends to be rational. wait for the risk to be fully released.