Over the past two years, Chinese assets have been like a roller coaster—plunging all the way down, but in doing so, catching the eyes of global investors once again.Valuation recovery story: A-shares went through a prolonged compression, and today their overall P/E ratios have dropped to historical lows, like “quality goods on sale.”The Hong Kong label: The Hang Seng Index and Hang Seng Tech Index still carry the title of “the world’s cheapest market,” cheap enough to make investors take a second look.Smart money in motion: Southbound capital continues to pour in, with ETFs like Hang Seng China Enterprises (HSCEI) and Hang Seng Tech repeatedly hitting record turnover. Beneath the noise lies opportunity.Policy momentum: From growth stabilization to capital market reforms, policy has acted a
XPEV, NIO & LI Earnings Out: Which One Is the Best Play?
NIO is still posting losses, with a Q3 net loss of ¥3.48 billion, though this marks a narrowing of over 30%. At the same time, the company’s overall gross margin reached 13.9%, the highest in three years, and both operating cash flow and free cash flow turned positive. This time, NIO not only expressed confidence in achieving profitability in Q4 but also set more ambitious targets, aiming for full-year profitability next year. Li Auto’s Q3 revenue fell 36% year over year, with a net loss of 624 million yuan. Its Q4 guidance came in nearly 30% below expectations.
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