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many bull stocks plunged.

the a-share market fell overall this morning, with the shanghai composite index hitting a new low during intraday trading. the "three oil giants" and the banking sector fell, dragging down the performance of the shanghai composite index.

in terms of individual stocks, this morning, the continuous rise of many previous strong stocks "stalled", among which volkswagen transportation and koson technology staged a "ceiling and floor" trend during the session.

in the hong kong stock market, among the constituent stocks of the hang seng technology index, nio-sw soared, with the intraday increase once approaching 18%.

a-share market overall fell, resource stocks led the decline

the a-share market fell overall this morning, with the shanghai composite index hitting a new intraday low. as of noon close, the shanghai composite index fell 0.92% to 2740.37 points.

in terms of industry sectors and tracks, the resource track led the decline. among them, the coal sector fell by more than 3% during the session, with yankuang energy, china coal energy, shaanxi coal industry and pingmei group leading the decline.

the petroleum and petrochemical sector led the decline, with an intraday drop of more than 2%. the "three oil giants" fell collectively, among which china national offshore oil corporation fell more than 4%, and china national petroleum corporation and china petrochemical corporation both fell more than 3% at one point.

non-ferrous metals, home appliances, banks and other sectors also ranked among the top in intraday declines.

comprehensive and social services sectors performed relatively well in the morning.

the brokerage sector also performed relatively well in the morning, with tianfeng securities hitting its daily limit during trading.

many early strong stocks "failed" and two stocks staged "ceiling and floor" during the trading session

in terms of individual stocks, this morning, the continuous rise of many previously strong stocks "stalled", and some stocks staged a "ceiling and floor" trend during the trading session.

market data shows that dazhong transportation opened at the upper limit price in the call auction this morning, but hit the lower limit within 1 minute after entering the continuous auction, showing a "ceiling and floor" trend. dazhong transportation is one of the most popular stocks in the a-share market in july this year.

dazhong transportation issued an announcement on abnormal stock trading fluctuations last friday night, stating that the company's stock closing price increase deviation value reached more than 20% in two consecutive trading days on september 5 and september 6, 2024, which is an abnormal stock trading fluctuation. the announcement stated that after the company's self-examination and letters of confirmation to the company's controlling shareholder, actual controller and other relevant parties, as of the date of the announcement, there were no major events that should have been disclosed but were not disclosed.

dazhong transportation also stated that the company has noticed that the market has paid much attention to intelligent network-connected vehicles recently. this model is still in the experimental stage and basically does not generate any income for the company. there is still uncertainty about the future business development trend, and it will not have a significant impact on the company's business activities in the short term. investors are advised to make decisions prudently and pay attention to investment risks.

the stock price of kesen technology jumped up and down this morning, fluctuating violently, and even staged a "ceiling and floor" trend during the trading session. previously, kesen technology had been rising by the daily limit for 10 consecutive trading days.

kosen technology issued an announcement on abnormal stock trading fluctuations and risk warnings last friday night, saying that for folding screen concept stocks, the company once again reminded that the company's folding screen hinge assembly business has a single customer, and the company currently purchases structural parts for the assembly of folding screen mobile phone hinges. as of the date of this announcement, no revenue has been generated in 2024. the company expects that the revenue generated by this business during the year will account for less than 1% of the operating income in 2024, and will have limited contribution to the company's overall revenue in 2024. for solid-state battery concept stocks, the company once again reminded that the company does not produce solid-state battery products.

in addition, the announcement also stated that the company disclosed the "2024 semi-annual report" on august 26, 2024. the company's net profit attributable to shareholders of listed companies in the first half of 2024 was -161 million yuan, and the company was in a loss-making state. the company expects to make a loss in 2024. the current stock price has seriously deviated from the company's fundamentals, and there is a risk of excessive irrational speculation. investors are kindly requested to pay attention to investment risks and invest rationally.

shenzhen huaqiang, which had previously hit the daily limit, also staged a "high diving" trend this morning. as of the midday closing, the stock hit the daily limit and closed at 37.40 yuan per share.

shenzhen huaqiang's crazy trend began on august 15. from august 15 to august 28, the company hit 10 daily limits in a row; on august 29, it made a slight adjustment, with an increase of 3.81%; from august 30 to september 6, it continued to maintain its strength, hitting the daily limit for 6 consecutive days. in summary, in the previous 17 trading days, shenzhen huaqiang had 16 daily limits, with a cumulative increase of 377%.

on the evening of september 8, shenzhen huaqiang once again issued an announcement on stock price changes, reiterating that the company's stock price had risen significantly in the short term, significantly deviating from the market trend, and there was a risk of overheated market sentiment. the company further stated that there were no major changes in the fundamentals and no major information that should be disclosed but was not disclosed.

the hong kong stock market fell in the morning, and nio surged nearly 18% during the session

the hong kong stock market was lower in the morning.

among the hang seng index constituents, china merchants bank, petrochina, xinyi solar and others saw the largest declines, while wuxi apptec and sun hung kai properties led the gains.

among the hang seng technology index constituents, nio-sw soared, with the intraday gain once approaching 18%.

according to the second quarter 2024 performance announcement released by nio, nio's vehicle deliveries in the second quarter of 2024 reached 57,373 units, including 32,562 high-end smart electric suvs and 24,811 high-end smart electric sedans, an increase of 143.9% from the second quarter of 2023 and 90.9% from the first quarter of 2024.

nio's vehicle sales in the second quarter of 2024 were rmb 15.6796 billion (us$2.1576 billion), an increase of 118.2% from the second quarter of 2023 and 87.1% from the first quarter of 2024.

the automotive gross margin is 12.2% in the second quarter of 2024, compared with 6.2% in the second quarter of 2023 and 9.2% in the first quarter of 2024.

total revenue for the second quarter of 2024 is rmb 17,446.0 million (us$2,400.6 million), an increase of 98.9% from the second quarter of 2023 and 76.1% from the first quarter of 2024. gross profit for the second quarter of 2024 is rmb 1,688.7 million (us$232.4 million), an increase of 1,841.0% from the second quarter of 2023 and 246.3% from the first quarter of 2024.

the gross margin for the second quarter of 2024 is 9.7%, compared with 1.0% in the second quarter of 2023 and 4.9% in the first quarter of 2024.

the operating loss in the second quarter of 2024 was rmb5,209.3 million (us$716.8 million), a decrease of 14.2% from the second quarter of 2023 and a decrease of 3.4% from the first quarter of 2024. excluding share-based incentive expenses, the adjusted operating loss (non-gaap) in the second quarter of 2024 was rmb4,698.5 million (us$646.5 million), a decrease of 14.0% from the second quarter of 2023 and a decrease of 8.1% from the first quarter of 2024.

net loss for the second quarter of 2024 was rmb 5,046.0 million (us$694.4 million), down 16.7% from the second quarter of 2023 and 2.7% from the first quarter of 2024. excluding share-based incentive expenses, adjusted net loss (non-gaap) for the second quarter of 2024 was rmb 4,535.2 million (us$624.1 million), down 16.7% from the second quarter of 2023 and 7.5% from the first quarter of 2024.

as of june 30, 2024, cash and cash equivalents, restricted cash, short-term investments and long-term time deposits were rmb 41.6 billion (us$5.7 billion).

li bin, founder, chairman and ceo of nio, said: "in the second quarter of 2024, nio delivered a record 57,373 high-end smart electric vehicles, accounting for more than 40% of the market share in china's pure electric vehicle market above 300,000 yuan. nio's core competitive advantages in technology, products, services and community have gradually gained popularity, driving continued strong car sales performance. in july and august 2024, nio delivered 20,498 and 20,176 vehicles respectively. it is expected that the total delivery volume in the third quarter will set a new record, further consolidating and expanding market share."

li bin also said: "at the 'nio in 2024 weilai innovation technology day' with ai as the main theme, we released major technological breakthroughs in multiple fields such as self-developed smart driving chips, vehicle global operating system, intelligent system and intelligent driving. through continuous and resolute investment in technology research and development, weilai maintains its leading position in product and technological innovation while achieving long-term cost competitiveness. in addition, on september 1, 105 stores of the ledao brand opened simultaneously, and the first model l60 has begun public display and is expected to be officially launched and delivered within this month. since its launch, the l60 has been widely welcomed by the market, and we expect this new brand to help us gain a favorable position in the mass market."