Company Performance - Atour Lifestyle Holdings Limited Sponsored ADR (ATAT) has seen a stock increase of 10.7% over the past month, reaching a new 52-week high of $42.34 [1] - The stock has gained 50.6% since the beginning of the year, outperforming the Zacks Consumer Discretionary sector's 4.9% increase and the Zacks Leisure and Recreation Services industry's decline of 2.5% [1] Earnings and Revenue - The company has a strong record of positive earnings surprises, having met or exceeded earnings consensus estimates in the last four quarters [2] - In the latest earnings report on August 26, 2025, ATAT reported an EPS of $0.42, beating the consensus estimate of $0.41, and exceeded revenue estimates by 2.44% [2] - For the current fiscal year, ATAT is expected to post earnings of $1.61 per share on revenues of $1.37 billion, reflecting a 24.81% change in EPS and a 36.2% change in revenues [3] - For the next fiscal year, the expected earnings are $1.95 per share on revenues of $1.75 billion, indicating a year-over-year change of 20.81% in EPS and 27.57% in revenues [3] Valuation Metrics - The stock currently trades at 25.2 times the current fiscal year EPS estimates, which is a premium compared to the peer industry average of 20.2 times [7] - On a trailing cash flow basis, ATAT trades at 30.5 times, significantly higher than the peer group's average of 7.1 times [7] - The stock has a PEG ratio of 1.3, which does not place it among the top echelon of stocks from a value perspective [7] Zacks Rank and Style Scores - ATAT holds a Zacks Rank of 2 (Buy) due to favorable earnings estimate revisions from analysts [8] - The stock has a Value Score of C, a Growth Score of A, and a Momentum Score of B, resulting in a combined VGM Score of A [6][9] Industry Comparison - The Leisure and Recreation Services industry ranks in the bottom 59% of all industries, but ATAT and its peer, Life Time Group Holdings, Inc. (LTH), show potential for growth [12] - LTH has a Zacks Rank of 1 (Strong Buy) and has reported strong earnings, with expected earnings of $1.66 per share on revenues of $2.98 billion for the current fiscal year [10][11]

Core Insights - Jinglin Asset, a major private equity firm, significantly increased its holdings in Alibaba during the third quarter of 2025, while also initiating positions in domestic autonomous driving leader WenYuan ZhiXing [1][2] - The firm also made notable increases in holdings of other tech giants such as Facebook, Google-A, and Nvidia [1][2] Holdings Summary - As of the end of Q3 2025, Jinglin Asset held nearly 30 companies in the US stock market, with its top ten holdings including Facebook, NetEase, Nvidia, Pinduoduo, Google-A, Manbang, Futu Holdings, Alibaba, Nebius Group, and Qifu Technology [1] - The market value of Jinglin Asset's holdings in Alibaba rose to $151 million, while it slightly reduced its stake in NetEase, maintaining a value of over $400 million [2] - Other significant increases in holdings during Q3 included Facebook, Nvidia, and Google-A, with Pinduoduo also seeing a small increase, maintaining a value exceeding $400 million [2] New Investments - Jinglin Asset initiated new positions in several companies during Q3, including well-known US firms like Apple and Synopsys, as well as leading Chinese companies such as WenYuan ZhiXing and Atour [4] - Specifically, the firm acquired $54 million in Apple shares and $82 million in Synopsys, while its investment in WenYuan ZhiXing was valued at $27 million [4] - Additionally, Jinglin Asset increased its stake in Atour, with a holding value of $86 million, making it the eleventh largest holding [4] Detailed Holdings Breakdown - The top ten holdings of Jinglin Asset in Q3 included: - Atour: $86 million (1.90% of portfolio) - Synopsys: $82 million (1.80% of portfolio) - Sea Ltd ADR: $73 million (1.70% of portfolio) - New Oriental: $70 million (1.60% of portfolio) - Beike: $70 million (1.60% of portfolio) - Intel: $64 million (1.40% of portfolio) - UnitedHealth: $58 million (1.30% of portfolio) - S&P Biotech ETF: $56 million (1.30% of portfolio) - Apple: $54 million (1.20% of portfolio) - TSMC: $37 million (0.80% of portfolio) [6]

Core Viewpoint - Atour Lifestyle Holdings Limited will report its unaudited financial results for the third quarter of 2025 on November 25, 2025, before U.S. markets open [1]. Company Overview - Atour Lifestyle Holdings Limited is a leading hospitality and lifestyle company in China, recognized as the leading upper midscale hotel chain in the country [3]. - The company has developed a distinct portfolio of lifestyle hotel brands and is the first Chinese hotel chain to create a scenario-based retail business [3]. - Atour is focused on innovation within China's hospitality industry and aims to build new lifestyle brands around its hotel offerings [3]. Conference Call Details - A conference call will be held on November 25, 2025, at 7:00 AM U.S. Eastern time, with a live webcast available on the company's investor relations website [1][2]. - Participants can pre-register for the conference call to receive dial-in numbers and a personal PIN [2].

Core Insights - Jinglin Asset Management Hong Kong Company disclosed its US stock holdings as of September 30, 2025, reporting a total market value of $4.441 billion, a significant increase of 54.52% from $2.874 billion at the end of the previous quarter [1][3][5] Group 1: Portfolio Adjustments - The company actively adjusted its portfolio in Q3 2025, acquiring 9 new stocks, adding to 8 existing positions, while completely selling out of 7 stocks and reducing holdings in 6 others [5][7] - The top 10 holdings accounted for 81.9% of the total US stock portfolio, indicating a slight decrease in concentration compared to the previous quarter [5][6] - Notable increases included 174.83 million shares of NVIDIA, bringing the total to 237.88 million shares, valued at approximately $443.83 million [5][6] Group 2: Key Stock Movements - The company increased its stake in Meta by 234,600 shares, raising its total to 1.226 million shares, making it the largest holding valued at $900.32 million [5][6] - Significant purchases included 2.6842 million shares of WeRide, valued at $26.57 million, marking a strategic entry into the autonomous driving sector [8][9] - The company also increased its positions in hotel chains Atour and Huazhu, with additional purchases of 2.0794 million shares and 183,200 shares, respectively [5][6] Group 3: Market Outlook - Jinglin Asset Management maintains an optimistic view on quality Chinese assets, emphasizing the potential for structural "alpha" opportunities amid ongoing market fluctuations [2][10] - The firm believes that China's competitive advantages in cost efficiency, talent, and integrated supply chains will continue to attract international investment [10] - The expectation of a weak US dollar may lead global funds to flow into emerging markets, enhancing the appeal of undervalued Chinese stocks [10]

Core Viewpoint - Jinglin Asset Management Hong Kong Company has shown a significant increase in its US stock holdings, with a total market value of $4.44 billion as of September 30, 2025, representing a 54.52% increase from the previous quarter [2][3]. Holdings Overview - As of Q3 2025, Jinglin Hong Kong Company held 30 securities in the US market, with a total market value of $4.44 billion, up from $2.87 billion in the previous quarter [2][3]. - The company actively adjusted its portfolio, making 9 new purchases, adding to 8 existing positions, selling out of 7 stocks, and reducing holdings in 6 stocks [5][8]. Major Investments - The top ten holdings accounted for 81.9% of the total US stock portfolio, indicating a slight decrease in concentration compared to the previous quarter [5][6]. - The largest holding remains Meta Platforms, with an increase of 234,600 shares, bringing the total to 1,226,000 shares [6][7]. - Significant increases were also noted in holdings of Nvidia, with an additional 1,748,300 shares acquired, and in the hotel sector with increased positions in Atour and Huazhu Group [6][7]. New Acquisitions and Exits - Notable new purchases include 2,684,200 shares of WeRide, a leading player in China's autonomous driving sector, and positions in UnitedHealth, Uber, and New Oriental [8][9]. - The company has completely exited positions in several stocks, including Daqo New Energy, Trip.com, and BeiGene, indicating a strategic shift in its investment approach [8]. Market Outlook - Jinglin Asset Management maintains a positive outlook on quality Chinese assets, emphasizing the competitive advantages of Chinese companies in terms of cost efficiency, talent, and comprehensive capabilities across the production process [10]. - The firm believes that despite market fluctuations, there are still structural opportunities worth pursuing, particularly in the context of potential inflows of overseas capital into the Chinese market [10].

Investment Rating - The report maintains a positive outlook on various sectors, with specific "Buy" ratings for companies such as AIA Group, ASMPT, Atour, Hengrui, Sunny Optical, Tencent, and others [13][14][28][33]. Core Insights - The 15th Five-Year Plan (FYP) emphasizes technological innovation, consumption rebalancing, and building a strong domestic market, which are expected to drive growth in sectors like technology, healthcare, and renewables [14][29]. - The report anticipates a stable external environment for China, with net exports remaining a key growth driver despite potential challenges from high bases and external demand uncertainties [7]. - The healthcare sector is highlighted as a key beneficiary of government policies, with a focus on innovation and globalization, particularly in medical devices and pharmaceuticals [29]. - The consumer sector is shifting towards experience and service consumption, with a growing emphasis on well-being and the silver economy, indicating potential growth areas for companies in these segments [27]. Economics - The report projects a growth target of around 5.0% YoY for 2026, with a focus on policy continuity and structural support for consumption [7]. - The RMB exchange rate is expected to become a focal point, with potential for significant movements as trade tensions ease and internationalization efforts continue [7]. Commodities - The report notes a shift in China's commodity fundamentals due to economic transitions, with a focus on domestic demand and energy self-sufficiency [9][10]. - The Action Plan for the Nonferrous Metals Industry indicates a shift towards high-quality growth, with supply growth expected to remain constrained [9]. Sector Views - **Autos and Parts**: The sector is poised for growth driven by advancements in Robotaxi and ADAS technologies, with key players expected to benefit from commercialization efforts [19]. - **Banks**: The banking sector is expected to outperform due to positive earnings growth and attractive dividend yields, particularly among large H-share banks [22]. - **Brokers**: The report highlights a trend of households reallocating wealth into equities, benefiting brokers as market proxies [26]. - **Consumer**: Key investment themes include a shift towards experiential consumption and a focus on well-being, with specific companies identified as top buys [27][28]. - **Healthcare**: Innovation and globalization are seen as critical drivers, with a focus on companies with strong pipelines and global expansion capabilities [29]. - **Insurance**: The sector is viewed positively, with opportunities arising from comprehensive enhancements across various business lines [33]. Top Buys - The report lists several top buy recommendations across sectors, including AIA Group, Hengrui, Tencent, and Anta, among others, indicating strong growth potential and favorable market conditions [13][14][28][33].

Group 1 - The core insight of the article indicates that Greenwoods Asset Management Hong Kong has established a new significant position in WeRide, while increasing its holdings in Atour, Alibaba, and Pinduoduo, and completely liquidating its position in Daqo New Energy [1] Group 2 - Greenwoods Asset Management's third-quarter 13F filing analysis reveals a strategic shift in its investment portfolio [1] - The fund's new investment in WeRide suggests a bullish outlook on the autonomous driving sector [1] - The increase in holdings for Atour, Alibaba, and Pinduoduo indicates confidence in the recovery of the Chinese consumer market [1]

Group 1 - Atour Lifestyle Holdings Limited announced the resignation of Mr. Cong Lin from his positions as a director and committee member, effective November 10, 2025, due to personal reasons [1] - Mr. Yingchun Song has been appointed as a new director and committee member, effective the same date, bringing extensive experience in the retail chain industry and supply chain management [1][2] - The company expressed appreciation for Mr. Lin's contributions and confirmed he will continue to support Atour as a consultant [2] Group 2 - Atour is recognized as a leading hospitality and lifestyle company in China, with a focus on upper midscale hotel chains and scenario-based retail business development [3]

Core Insights - Investors in the Leisure and Recreation Services sector may find value in Life Time Group Holdings, Inc. (LTH) and Atour Lifestyle Holdings Limited Sponsored ADR (ATAT) [1] Valuation Metrics - LTH has a forward P/E ratio of 17.44, while ATAT has a forward P/E of 24.16 [5] - LTH's PEG ratio is 0.71, indicating a more favorable valuation compared to ATAT's PEG ratio of 1.25 [5] - LTH's P/B ratio stands at 1.85, significantly lower than ATAT's P/B ratio of 11.71 [6] Investment Grades - Both LTH and ATAT have a Zacks Rank of 2 (Buy), indicating positive earnings estimate revisions [3] - LTH holds a Value grade of A, while ATAT has a Value grade of C, suggesting LTH is the superior value option based on current metrics [6]

Group 1 - Atour Lifestyle Holdings (ATAT) is experiencing strong market performance, recently hitting an all-time high and entering a buy zone after a significant breakout [1][4] - The company operates in 209 cities across China and has received high ratings, including a 98 Earnings Per Share Rating and a 96 Composite Rating from Investor's Business Daily [1] - Atour's stock has surged by 250% in 2025, coinciding with record gains in the S&P 500 [4] Group 2 - The stock is recognized among the IBD Sector Leaders and IBD 50, indicating its strong market position and growth potential [1] - Other tech leaders, including Palantir, have also been elevated to best stock lists, reflecting a broader trend of growth in the tech sector [1][4] - The performance of Chinese stocks, including Atour, is highlighted as a return to market leadership, although potential risks such as tariffs and AI developments are noted [4]