China’s GDP is expected to expand 7.7% in the second quarter, owing to strong exports. According to a Nikkei survey, China’s GDP will grow by 18.3 percent in the first quarter of 2021, up from 6.5 percent in the fourth quarter of 2020. Chinese tech equities are reasonably cheap, according to JPMorgan Asia equity strategist Mixo Das, when compared to their valuation and potential growth. Alibaba Group Holding Limited and Tencent Holdings Limited both had their stock prices drop by 9% and 1.3 percent, respectively. NIO Inc. was formerly a penny stock, rising from about $1 per share in October 2019 to about $70 per share in January 2021. NetEase has increased by 19.5 percent in the last year.
Here is Insider Monkey’s list of the 10 cheap Chinese stocks to buy now. CooTek Inc. is a mobile internet firm with a market capitalization of more than $103 million. The company’s revenue in the first quarter of 2021 was $81.6 million, with an 89.1 percent gross profit margin. The9 Limited began as a mobile phone and television game company. The internet corporation is now primarily a bitcoin mining operation. The stock has climbed by 46% in the last year, and shares have increased by 227 percent year to date. Lufax Holding Ltd is a financial services company that caters to a wide range of customers, from small business owners to middle-class investors. In the first quarter of 2021, the company’s revenue was $2.33 billion, up 16.9% year over year. Canaan Inc. is number seven on the list of the top ten cheap Chinese stocks to purchase right now. The Hangzhou-based technology company makes semiconductors such as artificial intelligence processors and bitcoin mining equipment. Revenue increased by 490 percent to $61.5 million in the first quarter. LexinFintech Holdings Ltd. is the 6th cheapest Chinese stock to purchase right now. Personal installment loans and installment purchase loans are among the online consumer financial services offered by the Shenzhen-based fintech startup. For more details, click 10 Cheap Chinese Stocks to Buy Now.
