5 Chinese Stocks Billionaires Are Crazy About

In this piece, we will take a look at the five Chinese stocks that billionaires are crazy about. If you want to learn more about the latest developments in the Chinese economy, then check out 10 Chinese Stocks Billionaires Are Crazy About.

5. ZTO Express (Cayman) Inc. (NYSE:ZTO)

Number of Billionaire Investors In Q3 2023: 11

ZTO Express (Cayman) Inc. (NYSE:ZTO) is a logistics company headquartered in Shanghai, China. The firm’s investors were in for some bad news in November 2023, as Bank of America downgraded the shares to Neutral from Buy and reduced the share price target to $28 from $34.

During Q3 2023, 21 out of the 910 hedge funds surveyed by Insider Monkey had bought ZTO Express (Cayman) Inc. (NYSE:ZTO)’s shares. Out of these, the biggest shareholder was Kerr Neilson’s Platinum Asset Management since it held 14.3 million shares that are worth $345 million.

4. KE Holdings Inc. (NYSE:BEKE)

Number of Billionaire Investors In Q3 2023: 13

KE Holdings Inc. (NYSE:BEKE) is a real estate company headquartered in Beijing, China. It operates platforms that facilitate real estate industry players, help agents, and aid people interested in home renovation. The shares are rated Strong Buy on average and analysts have set an average share price target of  $24.54.

As September 2023 ended, 37 out of the 910 hedge funds covered by Insider Monkey had held a stake in the company. KE Holdings Inc. (NYSE:BEKE)’s largest hedge fund investor is Lei Zhang’s Hillhouse Capital Management due to its $475 million investment.

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

Number of Billionaire Investors In Q3 2023: 15

JD.com, Inc. (NASDAQ:JD) is one of the biggest retailers in China whose platform sells a wide variety of products ranging from technology gadgets to food and groceries. Its shares were under a lot of stress in November after JD.com, Inc. (NASDAQ:JD) canceled a highly anticipated plan to spin off its cloud business division.

By the end of this year’s third quarter, 53 out of the 910 hedge funds tracked by Insider Monkey were JD.com, Inc. (NASDAQ:JD)’s investors. Chase Coleman and Feroz Dewan’s Tiger Global Management LLC owned the biggest stake which was worth $287 million.

2. PDD Holdings Inc. (NASDAQ:PDD)

Number of Billionaire Investors In Q3 2023: 18

PDD Holdings Inc. (NASDAQ:PDD) is another diversified Chinese retailer that sells furniture, groceries, electronics, and other products. The firm is all that anyone can really talk about in the eCommerce market these days as its budget online store Temu is proving to be quite popular and taking the heat to JD and even Amazon.

During September 2023, 66 among the 910 hedge funds tracked by Insider Monkey had bought the firm’s shares. PDD Holdings Inc. (NASDAQ:PDD)’s largest shareholder is Lei Zhang’s Hillhouse Capital Management through its $720 million investment.

1. Alibaba Group Holding Limited (NYSE:BABA)

Number of Billionaire Investors In Q3 2023: 22

Alibaba Group Holding Limited (NYSE:BABA) is one of the biggest technology companies in the world, known for its retail and cloud business divisions. The firm has beaten analyst EPS estimates in all four of its latest quarters and analysts have rated the shares as Strong Buy on average and set an average share price target of $125.85.

110 out of the 910 hedge funds part of Insider Monkey’s Q3 2023 database were Alibaba Group Holding Limited (NYSE:BABA)’s shareholders. Ken Fisher’s Fisher Asset Management was the biggest investor out of these since it owns $334 million worth of shares.

Disclosure: None. You can also take a look at Warren Buffett’s 10 Stock Picks with Huge Upside Potential and 25 Most Valuable European Companies Heading into 2024.

Follow Insider Monkey on Twitter