Invesco Golden Dragon China

Hot topic

MAGC

CQQQ

Since April 3 when US President 懂王 officially announced &#34;reciprocal tariffs&#34;, China and the US have repeatedly raised tariffs on each other, with current bilateral tariffs exceeding 100%. As trade tensions escalate, there is a risk that the rivalry between the two countries could spill over into other areas. Notably: ① Recently, the US Treasury Secretary suggested that forced delisting of Chinese concept stocks listed in the US could be used as a bargaining chip in negotiations; ② On February 21, the White House issued the &#34;America First Investment Policy&#34; memorandum...

Roundhill China Magnificent Seven ETF

Invesco China Tech

Chinese concept stocks delisting: Will the 'wolf really come' this time? Don't worry, it's not doomsday!

Strategy Report

Hello everyone, I am Dolphin Research! Since the beginning of 2025, discussions about the disparity in asset trends between China and the U.S., as well as the hollowing out of American manufacturing, seem to have reignited the narrative of &#34;the East rising and the West declining.&#34; So far this year, Chinese concept technology assets have averaged a 30% rebound, with 23 percentage points contributed by valuation expansion. This week, we will once again enter the peak reporting week for Chinese concept stocks, and the urgent question is: How much room is left for the rise of Chinese assets? Will this peak reporting week for Chinese concept stocks serve as a &#34;cold water&#34; moment for capital revaluation during this period, or a &#34;refueling station&#34; moment? First, it must either have AI or performance...

Hello

A swarm of activity, is the revaluation of Chinese concept stocks facing a setback or a welcome surprise?

02828

00HSI

Hello everyone! I am Dolphin Research. Last week, I emphasized in the Dolphin Research Strategy Weekly that Chinese concept assets deserve a cognitive reassessment. From the asset performance last week, the valuation repair of Hong Kong stocks led by technology has been significant: the PE valuation of the Hang Seng Index and the Hang Seng China Enterprises Index has repaired to around 10X, reaching about the 60th percentile of the past five years. Next, an important question is, how much more room is there for reassessment? Before answering this question, let's first look at how the external economic data has provided a repair environment. 1. Is the U.S. economy overheating again? 1) Is inflation going to rebound? Since the beginning of the year...

HSCEI ETF

Hang Seng Index

Chinese Concept Stocks: How Much Longer Can They "Go Crazy"?

Hello everyone! I am Dolphin Jun. At the end of the year-end summary before the holiday, Dolphin Jun mentioned: &#34;Regarding Chinese assets, I personally feel that there is no further need for pessimism. In 2024, the macro environment is downward, while stock prices are upward. After several years of revaluation, a 10X price-to-earnings ratio is standard for Chinese internet assets. Beyond the short-term economic cycle, many Chinese internet assets hold massive cash reserves and have logic for market share improvement, making a long-term EPS growth rate of 10%+ absolutely feasible.&#34; After several years of suppression, the undervalued Chinese assets only need a 'tailwind' for revaluation...

Chinese concept stocks: Worth a serious "cognitive reassessment"!

Report Analyzes Alibaba's Qwen Model's Low-Profile Participation in Building a Moat Behind the Spring Festival Gala Red Envelope Campaign

Alibaba establishes a new intelligent technology company, including AI-related business.

Alibaba's first AI hardware, 'Qwen AI Glasses,' launches in the Chinese market on March 8

Former Core Lead of Alibaba's Qwen Large Language Model, Lin Junyang, Confirms Departure

Alibaba Cloud to Participate in Data Innovation Summit APAC on March 12, 2026

Foreign media reports that Alibaba's AI development is faster than Amazon's and OpenAI's.

NIO to Release Q4 2025 Earnings Report on March 10

Netease Triggered HKEX Trading Center Shift Clause, May Become a Dual Primary Listed Company

CITIC Securities Maintains "Buy" Rating on Alibaba

Netease to Cease Funding of Yasuhira Miyagi's Studio

Alibaba is rumored to be planning to spin off its chip business 'T-Head' for a separate listing

Southbound Capital Records First Weekly Net Outflow of the Year, with Alibaba as the Top Net-Sold Stock

Alibaba to Release Q4 FY2025 Earnings on March 19

Alibaba's Qwen Introduces 'AI Agent Card' for March 8th Festival Promotion

Yum China repurchased 57,600 shares

Yum China Repurchased Shares in US and HK Markets

Food Delivery War 2.0: AI Becomes the New Battlefield as Alibaba, Meituan, and JD Reveal Their Strategies

Southbound Trading records net sell of over HK$600 million in Alibaba today

Qianwen Continues to Invest in AI Services with 200 Million Transactions During the Spring Festival

Alibaba Announces Patent Related to Video Generation Model Training

Peraso

QUARTZSEA ACQUISITION CORP ORD USD0.0001 (18/02/2030) (S/R)

Decent

Edesa Biotech

Cre8 Enterprise - CL

AN2 Therapeutics

Day One Biopharmaceuticals

Epsium Enterprise

Silynxcom

Aptera Motors - B

BABX

BABA

KBAB

09988

Qianwen AI Glasses G1 officially went on sale on March 8, topping the smart glasses sales chart across all platforms within 3 hours, with some channels already sold out. The official price is 2,899 yuan, with a minimum effective price of 1,997 yuan after subsidies. The release covers all online and offline channels, and users can conveniently purchase through the Qianwen APP

Wallstreetcn

BABA 2x Long Daily ETF - GraniteShares

Alibaba

KraneShares 2x Long BABA Daily ETF

BABA-W

Qianwen AI Glasses G1 are now available for immediate sale, topping the charts across all platforms in 3 hours

02513

YINN

512380

OpenClaw founder Peter Steinberger ranked 32 models based on success rate, speed, and cost. The Chinese models Minimax, KNOWLEDGE ATLAS, Qianwen, and Kimi frequently made it into the top five. Google performed outstandingly in the success rate and cost rankings, taking the first place in both. The top five in success rate include google/gemini-3-flash-preview, minimax/minimax-m2.1, etc.; the top five in speed include minimax/minimax-m2.5, etc.; and the top five in cost include openai/gpt-5-nano, etc

华尔街见闻资讯

KNOWLEDGE ATLAS

Direxion FTSE China Bull 3X

Yinhua MSCI China A ETF

Alphabet

Alphabet - C

Minimax and KNOWLEDGE ATLAS frequently make the list! OpenClaw founder launches the most suitable lobster model ranking

09618

06618

EBIZ

02618

HSBC's research report indicates that JD.com's new business investments may weigh on profitability, despite increased confidence in the general merchandise business, with revenue forecasts raised by 1% to 2%. Due to increased investments in overseas and Jingxi businesses, the pace of narrowing losses in new businesses is expected to slow. The target price has been lowered from HKD 144 to HKD 137, maintaining a "Buy" rating, suggesting an upside potential of approximately 38%

AASTOCKS

KraneShares 2x Long JD Daily ETF

JD-SW

JD HEALTH

Global X E-commerce ETF

JD.com

JD LOGISTICS

HSBC Research: JD.com's new business investments drag down profits, target price lowered to 137 yuan

CICC released a report stating that JD.com's revenue for the fourth quarter of 2022 was basically in line with market expectations, and profits exceeded expectations. Revenue grew by 1.5% year-on-year to RMB 352.3 billion, with adjusted net profit of RMB 1.1 billion, surpassing the expected RMB 500 million. The company plans to repurchase $3 billion in stock and distribute $1.4 billion in cash dividends. It is expected that the retail operating profit margin will stabilize by 2026, and the food delivery business will reduce losses. The target price has been lowered by 19.5% to $33, maintaining an "outperform industry" rating

In "Major Banks," China International Capital Corporation (CICC) lowered JD.com's target price to $33 and maintained an "Outperform" rating

Citi released a research report indicating that JD.com's performance in the fourth quarter of last year was below expectations, with total revenue increasing by 1.5% year-on-year to RMB 352.3 billion, and adjusted earnings before interest and taxes (EBIT) of RMB 3.1 billion, lower than the market's expected loss of RMB 2.9 billion. It is expected that total revenue in the first quarter will grow by 3% year-on-year, but adjusted EBIT will decline by 65% to RMB 4 billion. The unit profit of the takeaway business has improved, but losses from Jingxi and international operations will worsen, leading to a 4% downward revision of net profit forecasts. Growth is expected to improve in the second half of the year, maintaining a target price of $41 for U.S. stocks, with a rating of "Outperform."

In "The Big Banks," Citigroup: JD.com's fourth-quarter performance was below expectations, facing a 65% drop in EBIT after adjustments for high base figures in the first quarter

Daiwa released a research report stating that JD Logistics performed strongly in 2022, with a year-on-year revenue growth of 22% in the fourth quarter. The management is optimistic about the revenue and profit outlook for 2026, expecting to benefit from JD's supermarket subsidies and the growth of instant delivery services. Daiwa raised the target price for JD Logistics to HKD 19.5 and reiterated a "Buy" rating, believing its valuation is attractive and profit prospects are improving

Daiwa expects JD Logistics' valuation to be highly attractive, with an improved profit outlook, raising the target price to 19.5 yuan

ONLN

IBUY

Citi raised JD.com's target price to $35 and maintained a "Buy" rating. The report pointed out that JD.com's Q4 2025 performance exceeded market expectations, with total revenue reaching RMB 352.3 billion, a year-on-year growth of 1.5%. The non-GAAP net profit was RMB 1.1 billion, with a net profit margin of 0.3%. Looking ahead to 2026, management expects the losses from the food delivery business to narrow, and international expansion along with investments in Jingxi will offset the impact. Despite the profit decline in 2025, Citi believes JD.com's valuation is reasonable, and management is committed to shareholder returns

ProShares Online Retail

Amplify Online Retail ETF

VanEck Retail ETF

SPDR S&P Retail ETF

Citigroup raises JD.com's target price to $35, maintaining a "Buy" rating

JD.com CEO Xu Ran stated in an analyst conference call that the company will continue to maintain healthy growth in daily categories in 2026, and there is significant room for improvement in the supermarket business. Although the home appliance and digital categories face high base and cost pressures in the short term, growth rates are expected to improve in the second half of the year. The company will strengthen its supply chain capabilities and leverage artificial intelligence and new technologies to develop new products to meet user demands. It is expected that this year, the growth drivers for JD.com retail will become more diversified, achieving healthy and high-quality growth throughout the year

JD.com’s Xu Ran: This year, the growth drivers for JD Retail will be more diversified, and we are confident in achieving healthy and high-quality growth for the whole year

Goldman Sachs released a report stating that JD.com exceeded expectations in its fourth-quarter performance last year, and management holds a positive outlook on the prospects, boosting market confidence. Despite being affected by policies, JD.com's retail revenue slightly decreased by 2%, but both department store goods and advertising revenue saw double-digit growth, with annual operating profit increasing by 25% to 51 billion RMB. The losses in the delivery business have narrowed, and management expects single-digit growth in revenue and profit this year. Goldman Sachs has given JD.com a "Buy" rating, with a target price of HKD 169 for its H shares, believing it is undervalued in the Chinese internet sector

Goldman Sachs: JD.com target price of 169 yuan, last quarter performance exceeded expectations

TCEHY

00700

Alibaba, Bytedance, and Tencent are seeking to alleviate the impact of a global memory chip shortage by turning to domestic chipmakers. The companies are in discussions to purchase more DRAM and NAND flash memory chips from two Chinese firms, moving away from reliance on Samsung Electronics and SK Hynix for additional chip supply.

- Tencent, Alibaba, and ByteDance are seeking domestic chipmakers to mitigate the ongoing global memory chip shortage.  
- The companies are negotiating to acquire more DRAM and NAND flash chips from two Chinese manufacturers.  
- Previously, they sought additional supplies from Samsung Electronics and SK Hynix.

Reuters

Tencent

TENCENT

VanEck Semiconductor ETF

Direxion Semicon Bull 3X

SPDR S&P Semicon

ChinaAMC SSE STAR Semiconductor Material & Equipment Thematic ETF

Guotai CSI Semiconductor Material Equipment Theme ETF

Invesco Semiconductors ETF

Alibaba, Bytedance And Tencent Are Turning To Domestic Chipmakers To Ease The Pain From A Deepening Global Shortage Of Memory Chips - The Information

JD.com expects full-year revenue in 2025 to grow by 13% year-on-year to 1.3 trillion yuan. The operating profit margin of its core business, JD Retail, increased by 62 basis points to 4.6%, effectively offsetting the cyclical pressure in the electronics category with a 15% increase in general merchandise (daily necessities) and a 19% increase in platform marketing revenue. In terms of new business, the losses from food delivery have narrowed for four consecutive quarters. AI technology is accelerating its implementation, with the usage of the self-developed model "Yanxi" surging nearly a hundredfold, and AI shopping guide users exceeding 150 million. The company announced an annual dividend of approximately $1.4 billion and a $3 billion share repurchase

- JD Group reported a 13% annual revenue increase to CNY 1.3 trillion for 2025, aided by growth in core retail margins and marketing services, despite a decline in electronics.  
- CEO Xu Ran emphasized their focus on expanding daily goods and AI applications, expecting sustained growth and improved operational efficiency in their delivery service.  
- For 2026, JD is confident in building a diverse growth engine through strategic investments and enhanced supply chain capabilities, aiming to deliver long-term value for shareholders.

JD.com Q4 conference call: Delivery investment will be lower than last year, and the usage of the Yanxi large model has surged a hundredfold

Bank of America Securities released a report stating that JD.com is expected to have 730 million active customers and revenue of 1.31 trillion yuan in fiscal year 2025, with a non-GAAP net profit of 27 billion yuan. In the fourth quarter of last year, revenue grew by 1.5% year-on-year to 352.3 billion yuan, in line with market expectations. Despite facing a decline in electronic product sales, management believes that adverse factors peaked in the fourth quarter of 2025. Bank of America Securities has lowered JD.com's target price to 130 yuan and maintains a "Buy" rating

"Big Banks" Bank of America Securities: JD.com's quarterly results meet expectations, target price lowered to 130 yuan

JD Group CFO Dan Su stated in an analyst conference call that JD Retail's long-term target of high single-digit profit margins remains unchanged, and core retail profits are expected to achieve healthy growth by 2026. The group will continue to invest in international business, lower-tier markets, and instant retail, while strengthening technology research and development. The takeaway business will grow healthily, and investment in international business will gradually increase. JD's full-category e-commerce platform JOYBUY in Europe will launch in March, and the logistics network has achieved same-day and next-day delivery services in major cities

Proshares Supply Chain Logistics ETF

JD.com CFO Dan Su: JD Retail's long-term target of high single-digit profit margin remains unchanged

JD.com’s total revenue for the year exceeded 1.3 trillion yuan for the first time, a year-on-year increase of 13%, marking the highest growth rate in recent years. The profitability of its core retail business continues to improve, with an operating profit margin rising to 4.6%. Service revenue, growing at a rate of 23.6%, has become the main engine of growth. In the fourth quarter, revenue reached 352.3 billion yuan, a year-on-year increase of 1.5%, slightly exceeding expectations. However, due to increased investment in new business strategies, the company turned from profit to loss in that quarter, recording a net loss of 2.7 billion yuan. Overall profitability is under significant pressure, with the annual net profit attributable to shareholders halving to 19.6 billion yuan. The operating loss from new businesses for the year reached 46.6 billion yuan, becoming a core factor dragging down overall profitability

- On March 5, JD Group announced its Q4 and full-year 2025 financial results, reporting a net revenue of 352.3 billion yuan in Q4, a slight increase of 1.5% year-over-year, but a net loss of 2.7 billion yuan due to strategic investments in new businesses.  
- For the full year, revenue surpassed 1.3 trillion yuan, growing 13% from the previous year, while net profit fell 52.7% to 19.6 billion yuan, primarily due to a substantial operational loss in new business ventures totaling 46.6 billion yuan.  
- The company continues to focus on shareholder returns, repurchasing approximately $3 billion in shares and planning to distribute cash dividends totaling about $1.4 billion.

JD.com's Q4 net revenue increased by 1.5% year-on-year to 352.3 billion yuan, with new business investments resulting in a quarterly net loss of 2.7 billion yuan | Financial Report Insights

399001

000001

The People's Daily published an article stating that the economic growth target is set at 4.5%—5%, and efforts should be made in actual work to strive for better results—this is one of the main expected development goals proposed in this year's government work report. "4.5%—5%" is a positive and pragmatic target that takes into account the domestic economic operation and changes in the external environment, balancing needs and possibilities

Shenzhen Index

SSE Index

People's Daily Jin Sheping: A goal of seeking progress while maintaining stability, being proactive and pragmatic

Invesco Golden Dragon China(PGJ.US)

Qianwen AI Glasses G1 are now available for immediate sale, topping the charts across all platforms in 3 hours

Minimax and KNOWLEDGE ATLAS frequently make the list! OpenClaw founder launches the most suitable lobster model ranking

HSBC Research: JD.com's new business investments drag down profits, target price lowered to 137 yuan

In "Major Banks," China International Capital Corporation (CICC) lowered JD.com's target price to $33 and maintained an "Outperform" rating

In "The Big Banks," Citigroup: JD.com's fourth-quarter performance was below expectations, facing a 65% drop in EBIT after adjustments for high base figures in the first quarter