5 Cheap Chinese Stocks to Buy Right Now

In this piece, we will take a look at the five cheap Chinese stocks to buy right now. If you want to learn more about China’s ailing economy and what the top players are doing, check out 11 Cheap Chinese Stocks to Buy Right Now.

5. Alibaba Group Holding Limited (NYSE:BABA)

Forward Price To Earnings Ratio: 9.27

Number of Hedge Fund Investors In Q2 2023: 112

Alibaba Group Holding Limited (NYSE:BABA) is a Chinese retail giant that has transformed itself to become one of the biggest technology holding companies in the world. Like its U.S. technology counterparts, the firm is heavily targeting the budding AI sector. On this front, it announced its latest cloud computing generative AI model in November 2023, aiming to compete with the likes of Microsoft and Amazon.

Out of the 910 hedge funds part of Insider Monkey’s database, 112 had bought Alibaba Group Holding Limited (NYSE:BABA)’s in Q2 2023. David Tepper’s Appaloosa Management LP is the firm’s biggest hedge fund shareholder among these, owning 4.4 million shares that are worth $372 million.

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

Forward Price To Earnings Ratio: 8.54

Number of Hedge Fund Investors In Q2 2023: 64

JD.com, Inc. (NASDAQ:JD) is another well known Chinese electric commerce retailer. It is currently busy diversifying its operations and signed an agreement with a Chinese company in October to launch a new commodities trading platform.

Insider Monkey scoured through 910 hedge fund portfolios for their June quarter of 2023 shareholdings to discover 64 JD.com, Inc. (NASDAQ:JD) shareholders. Out of these, Chase Coleman and Feroze Dewan’s Tiger Global Management LLC is the largest investor through its $719 million stake.

3. Vipshop Holdings Limited (NYSE:VIPS)

Forward Price To Earnings Ratio: 7.81

Number of Hedge Fund Investors In Q2 2023: 28

Vipshop Holdings Limited (NYSE:VIPS) is a Chinese digital retailer offering a variety of consumer use products on its platform. Its shares are rated Strong Buy on average, and analysts have set an average share price target of $18.72.

During this year’s second quarter, 28 out of the 910 hedge funds polled by Insider Monkey had invested in the company. Vipshop Holdings Limited (NYSE:VIPS)’s biggest investor in our database is Natixis Global Asset Management’s Natixis Global Asset Management since it owns $144 million worth of shares.

2. Weibo Corporation (NASDAQ:WB)

Forward Price To Earnings Ratio: 4.96

Number of Hedge Fund Investors In Q2 2023: 21

Weibo Corporation (NASDAQ:WB) is a Chinese social media and advertising services provider. The firm created a bit of controversy in October when it announced that previously anonymous accounts on its platform will now be required to share their real names.

Insider Monkey’s June quarter of 2023 survey of 910 hedge fund holdings revealed that 21 had held a stake in Weibo Corporation (NASDAQ:WB). Len Kipp and Xavier Majic’s Maple Rock Capital owns the largest stake among these which is worth $41.2 million.

1. Daqo New Energy Corp. (NYSE:DQ)

Forward Price To Earnings Ratio: 3.87

Number of Hedge Fund Investors In Q2 2023: 22

Daqo New Energy Corp. (NYSE:DQ) provides raw materials to solar panel manufacturers. A slow Chinese economy has hit the company rather hard since it has missed analyst EPS estimates in all five of its latest quarters – including Q3 2023.

During the previous quarter, 22 out of the 910 hedge funds tracked by Insider Monkey had invested in the company. Daqo New Energy Corp. (NYSE:DQ)’s biggest investor among these is Lei Zhang’s Hillhouse Capital Management courtesy of its $80.8 million investment.

Disclosure: None. You can also take a look at 15 States with the Best Roads in the US and 12 Best German Stocks To Buy Now.

Follow Insider Monkey on Twitter