10 Cheap Chinese Stocks to Buy Now

8. iQIYI, Inc. (NASDAQ:IQ)

Forward P/E Ratio: 8.26

Earnings Growth This Year: 21.01%

Number of Hedge Fund Holders: 20

iQIYI, Inc. (NASDAQ:IQ) is a Chinese company that primarily offers online entertainment services. The company provides a wide range of video content, including movies, TV dramas, variety shows, and anime through its app. Moreover, it also operates a social media platform called iQIYI Paopao, where fans can interact with celebrities and the entertainment community.

On February 23, Saiyi He, an analyst at CMB International Securities maintained a Buy rating on the stock, with a price target of $2.80. The analyst noted that despite a decline in revenue and operating income in 2024, the company showed signs of recovery starting in December. This was largely due to the successful launch of high-quality drama series, which strengthened the company’s position in the drama market and increased membership business. Moreover, He noted that for early 2025, iQIYI, Inc. (NASDAQ:IQ) anticipates quarterly revenue growth driven by increases in both membership and performance-based advertising revenues. The company plans to expand its portfolio of top-tier drama series and mini-dramas to enhance ad placement systems, boost ad inventory, and increase revenue.

With a cheap valuation indicated by a forward P/E ratio of 8.2 and earnings growth at 21%, the company ranks as one of the cheap Chinese stocks to buy now.