In this piece, we will take a look at the 5 High Growth Chinese Stocks To Buy. For more such companies, go to the 10 High Growth Chinese Stocks To Buy.
5. BYD Company Limited (OTC:BYDDF)
Revenue Growth YoY: 72.10%
BYD Company Limited (OTC:BYDDF) is a prominent multinational corporation based in China, specializing in the development, manufacturing, and sales of electric vehicles and associated products. The company boasts a global presence, operating in over 70 countries across six continents, with approximately 30 industrial parks in around 400 cities.
BYD Company Limited (OTC:BYDDF) recently announced that it is expecting more than five times the net profit it had achieved in the previous year. With a record-breaking sale of 1.86 million cars, the company anticipates an impressive 2022 net profit. Matthias Volkert, an analyst at DZ Bank, currently has a price target of HK$250 on BYD Company Limited (OTC:BYDDF)’s stock.
4. Li Auto Inc. (NASDAQ:LI)
Revenue Growth YoY: 86.29%
Li Auto Inc. (NASDAQ:LI), a Beijing-based company that specializes in the development and sale of smart electric vehicles, specifically sport utility vehicles (SUVs), under the brand name Li ONE. The company’s flagship product is equipped with an extended-range electric powertrain, and it offers other peripheral products and services such as charging stalls, vehicle internet connection services, and extended warranties. Li Auto Inc. (NASDAQ:LI)’s model lineup includes the six-seater premium family SUV, Li L9, the six-seat premium family SUVs, Li L8 and Li ONE, and the five-seat flagship family SUV, Li L7.
In February 2023, Jeff Chung, an analyst at Citibank, raised his price target on Li Auto Inc. (NASDAQ:LI) to $51.50 while maintaining a Buy rating on the stock. Chung revised his 2023 sales forecast from 210,000 to 235,000 units, citing recent new product launches.
According to Insider Monkey’s database, 25 hedge funds held stakes in Li Auto Inc. (NASDAQ:LI) at the end of the fourth quarter ending December 2022. Viking Global remained the leading stakeholder in the company at the end of Q4 2022.
3. XPeng Inc. (NYSE:XPEV)
Revenue Growth YoY: 98.06%
XPeng Inc. (NYSE:XPEV) is a prominent Chinese electric vehicle manufacturer. The company is engaged in the design, manufacture, and distribution of electric vehicles, including cars, SUVs, and minivans. XPeng Inc. (NYSE:XPEV) has three primary vehicle brands, the Xpeng P5, P7, and G3, designed to offer consumers exceptional long-range, high-performance electric vehicles with cutting-edge features like a smart cockpit, autonomous driving, and advanced infotainment systems. To enhance the overall electric vehicle experience, XPeng Inc. (NYSE:XPEV) has also introduced its XPeng Energy Solutions program. This service offers users energy management solutions and charging services to optimize their electric vehicle experience. Furthermore, XPeng Inc. (NYSE:XPEV) also provides auto finance solutions and high-quality parts and accessories under the XPeng Parts brand.
As per Insider Monkey’s database, 17 hedge funds owned stakes in XPeng Inc. (NYSE:XPEV) at the end of the December quarter. Two Sigma Advisors was the most bullish fund on the company’s stock at the end of Q4 2022.
2. JinkoSolar Holding Co., Ltd. (NYSE:JKS)
Revenue Growth YoY: 105.27%
Jinko Solar Co., Ltd. (NYSE:JKS) is an innovative and renowned solar technology company that focuses on integrated photovoltaic products and clean energy solutions. With over 3,000 clients in more than 160 countries, XPeng Inc. (NYSE:XPEV) has shipped over 130GW of cumulative module shipments, making it the number one global module shipper from 2016 to 2019. The company is among the first few companies to establish a “vertically integrated” production capacity from silicon material processing to wafer, cell, and module production, with 14 production bases across China, the United States, Malaysia, and Vietnam. Jinko Solar Co., Ltd. (NYSE:JKS) has a combined production capacity of 65GW for monocrystalline silicon wafers, 55GW for cells, and 70GW for modules, demonstrating its track record of innovation and quality.
According to Insider Monkey’s database, 15 hedge funds held shares of the company at the end of the fourth quarter of 2022. Hillhouse Capital Management was the most bullish fund on the company’s stock at the end of Q4 2022.
1. Daqo New Energy Corp. (NYSE:DQ)
Revenue Growth YoY : 170.39%
Daqo New Energy Corp. (NYSE:DQ) is a manufacturer of high-quality polysilicon. Operating in two segments, namely Polysilicon and Wafer, the company offers a diverse range of products and services to photovoltaic manufacturers. Daqo New Energy Corp. (NYSE:DQ)’s ready-to-use polysilicon is packaged to meet customers’ specific needs, facilitating the production of ingots, wafers, cells, and modules for solar power solutions. The company also provides wafers through its downstream photovoltaic product manufacturing business and offers wafer original equipment manufacturer (OEM) services to external customers through tolling agreements and processing polysilicon to produce ingots and wafers. Daqo New Energy Corp. (NYSE:DQ)’s annual capacity of approximately 12,150 metric tons (MT) for polysilicon and 90 million pieces for wafers allows the company to meet the demands of its customers globally.
As per Insider Monkey’s database, 20 hedge funds remained bullish on Daqo New Energy Corp. (NYSE:DQ) at the end of Q4 2022. Hillhouse Capital Management had the biggest stake in the company at the end of the fourth quarter.
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