5 Best Chinese Stocks To Buy Right Now

3. JD.com, Inc. (NASDAQ:JD)

Number of Hedge Fund Holders: 56

JD.com, Inc. (NASDAQ:JD) is a Chinese company that provides supply chain-based technologies and services. The company, via an online marketplace, offers a wide range of products, including computers, electronics, home appliances, food, baby products, furniture, cosmetics, healthcare items, books, apparel, and more. It is one of the best Chinese stocks to invest in. 

On February 19, Bloomberg News reported that JD.com, Inc. (NASDAQ:JD) is considering a proposal to acquire Currys, a London-based electronics retailer. This development may lead to a bidding war, as a separate proposal from Elliott Investment Management was rejected by Currys. JD.com, Inc. (NASDAQ:JD) is in the early stages of evaluating a potential cash offer for Currys, causing a 33% surge in Currys’ stock on February 19. Currys has around 300 stores in the UK and more than 15,000 employees.

According to Insider Monkey’s fourth quarter database, 56 hedge funds were long JD.com, Inc. (NASDAQ:JD), compared to 53 funds in the prior quarter. Chase Coleman’s Tiger Global Management is the largest stakeholder of the company, with 8.80 million shares worth $254.3 million. 

Baron Emerging Markets Fund made the following comment about JD.com, Inc. (NASDAQ:JD) in its first quarter 2023 investor letter:

“JD.com, Inc. (NASDAQ:JD) is one of the three largest e-commerce platforms in China. Shares declined after the company reported a slowdown in fourth quarter sales and commented that deliberate culling of unprofitable SKUs would also be a drag on headline revenue growth in the first half of 2023. We believe the slowdown was driven by the peak in Chinese COVID lockdowns, which have since ended, and the elimination or reduction of unprofitable business is better for long-term margins and returns on capital. We remain investors.”