US Stock Market Move | Chinese concept stocks surged, Smart Share Global Ltd. Sponsored ADR Class A (EM.US) soared 31%.

Smart Share Global Ltd. Sponsored ADR Class A (EM.US) surged on Thursday, closing up 31.29%. On the news front, boosted by China's economic stimulus policies, Chinese assets continued to rise overnight, with the Nasdaq China Golden Dragon Index closing up 10.9%. Meanwhile, as a leading company in the industry, Smart Share Global Ltd. Sponsored ADR Class A recently announced its overseas business expansion plan in response to the intensifying competition among domestic brands and the overall transformation towards an agency model, making the sharing economy a hot topic once again. As one of the few listed companies in this field, Smart Share Global Ltd. Sponsored ADR Class A serves as a mirror for the shared charging industry. With a strong focus on developing the agency model, Smart Share Global Ltd. Sponsored ADR Class A has provided followers and practitioners with a sense of security with its steadily rising financial and operational data. In the second quarter of 2024, Smart Share Global Ltd. Sponsored ADR Class A achieved revenue of 463 million yuan (RMB, units as before) and adjusted non-GAAP net profit of 15.2 million yuan, representing an increase of 16.6% and 300% respectively from the previous quarter. Including the second quarter, Smart Share Global Ltd. Sponsored ADR Class A has maintained non-GAAP profitability for six consecutive quarters.