5 Cheap Chinese Stocks to Buy Now

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In this article, we will be looking at 5 cheap Chinese stocks to buy now. If you want to read our analysis of China’s economy, go directly to 10 Cheap Chinese Stocks to Buy Now.

5. Lufax Holding Ltd (NYSE:LU)

Stock Price as of May 31: $6.3

Hedge Fund Holders: 12

Lufax Holding Ltd (NYSE:LU) is a financial services provider in China. The company offers multiple services such as credit facilitation and wealth management to affluent investors as well as small business owners. The Institute of Financial Technologists of Asia (IFTA) awarded Lufax Holding Ltd (NYSE:LU) a Platinum Award for Blockchain-based Transformation and Cybersecurity in 2020.

As of September 30, 2021, Lufax Holding Ltd (NYSE:LU) reported 48.7 million registered users and was offering services to 15.3 million active investors. In Q1 2022, Lufax Holding Ltd (NYSE:LU) reported an EPS Normalized Actual of $0.32, beating the analysts’ estimates by $0.01. Moreover, revenue was posted at $2.59 billion, surpassing the consensus estimate by $7.97 million. On May 9, CICC initiated coverage on Lufax Holding Ltd (NYSE:LU) with an Outperform rating and a price target of $7.80.

In Q1 2022, 12 hedge funds held a stake in Lufax Holding Ltd (NYSE: LU).

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