Apr 29, 2022 (StockMarket.com via COMTEX) -- Are These The Best Chinese Tech Stocks To Invest In Ahead Of May 2022?
While U.S.-based firms continue to feel the pressure from broader economic headwinds, Chinese tech stocks are rising today. By and large, this section of the stock market has been under pressure from growing government crackdowns up until now. For the most part, the industry is gaining momentum after China's top leaders spoke on their latest initiatives to boost economic stimulus. With this update also comes speculation about a possible lightening of the Chinese government's regulatory crackdowns on Chinese tech firms. As a result of all this, some of the biggest names in the space are now gaining plenty of attention.
At the same time, these companies remain hard at work as well. On one hand, you have the likes of Xpeng ( NYSE: XPEV ) actively expanding into markets beyond China. The Chinese electric vehicle (EV) firm is now open to receiving orders for its P5 electric sedan in Europe. As it stands, the company's Dutch, Swedish, and Danish order portals are online. On the other hand, agriculture-focused e-commerce company Pinduoduo ( NASDAQ: PDD ) is actively working with farmers to improve crop quality via sustainable growing methods. Should the government decide to bolster the economy via its vast tech industry, these five names would be worth checking out in the stock market today .
Chinese Tech Stocks To Buy [Or Sell] Now
JD.Com Inc. ( NASDAQ: JD )
Baidu Inc. ( NASDAQ: BIDU )
Futu Holdings ( NASDAQ: FUTU )
Alibaba Inc. ( NYSE: BABA )
Nio Inc. ( NYSE: NIO )
Starting us off today, we have JD.com, a Chinese e-commerce company that has one of the biggest B2C online retailers in China by transaction volume and revenue. The company also is a leading supply chain technology and service provider. In fact, its infrastructure allows consumers to buy whatever they want, whenever they want. It also provides a Retail-as-a-Service to help businesses drive productivity and innovation across a range of industries. On April 27, 2022, the company announced some highlights of third-party merchant growth on its platform.
Diving in, the number of product launches on JD.com increased by more than 150% in 2021. JD's business ecosystem has attracted and retained customers with higher purchasing power as well. In the first three months of 2022, the average daily users of JD's third-party stores grew 84% among the group aged 26-45. This group is normally regarded as customers who spend the most per capita with the strongest purchasing power. Given this piece of news, is JD stock a top Chinese stock to invest in right now?
Following that, we have Baidu, a multinational tech company that specializes in Internet-related services and artificial intelligence (AI). Impressively, it is an early adopter of AI to make content discovery on the internet easier. The company is also one of the very few that offers a full AI stack, with infrastructure consisting of AI chips, deep learning framework and core AI capabilities. BIDU stock is up by over 10% on today's opening bell.
Last month, the company announced its fourth-quarter and fiscal year 2021 financial results. Revenue for the quarter was $5.19 billion, increasing by 9% year-over-year. "Baidu concluded a solid 2021, evidenced by a strong growth in our non-advertising business, particularly the acceleration of Baidu AI Cloud. We brought our AI capabilities to China's traditional industries and public service sector, to aid in the improvement of their efficiency and operational expansion. Furthermore, Apollo Go provided around 213,000 rides in the fourth quarter, almost doubling sequentially, reaffirming our leadership position in the global autonomous ride-hailing market," said Robin Li, Co-founder, and CEO of Baidu. With that being said, is BIDU stock a buy?
Futu Holdings Ltd
Futu Holdings is a digitized brokerage and wealth management for investors all around the globe. In essence, its advanced investing platform has transformed the investing experience and primarily serves the emerging affluent population. The Company provides investment services through its proprietary digital platforms, Futubull and moomoo, each a highly integrated application accessible through any mobile device, tablet, or desktop. FUTU stock is up by over 9% today.