3 Chinese Stocks to Buy Now: May 2024

Core Viewpoint - Many Chinese stocks are regaining momentum after previous setbacks, indicating potential investment opportunities despite past financial shakiness [1] Group 1: Baidu (BIDU) - Baidu is a leading Chinese tech company known for its search engine and is diversifying its revenue through cloud services and AI [2] - In the most recent earnings report, Baidu's revenue increased by 1% year-over-year to $4,365 million, while net income decreased by 6% [2] - Mobile users grew by 3% year-over-year, and cloud services revenue increased by 6% compared to Q1 last year, indicating growth in various departments [3] - Baidu's low valuation and ongoing investments in AI and autonomous driving present a promising opportunity for investors [3] Group 2: Alibaba Group (BABA) - Alibaba is China's largest e-commerce platform with over 900 million active users, currently trading at a low price despite its strong performance [5] - In fiscal 2024, Alibaba reported an 8% increase in revenue and a 9% increase in net income year-over-year, showcasing its resilience [5] - The company initiated a $12.5 billion share buyback in fiscal 2024, signaling confidence in its recovery and growth potential [6] Group 3: JD.com (JD) - JD.com is a significant player in the Chinese e-commerce market, recently reporting a 7% revenue growth year-over-year, indicating a potential turnaround [7] - The company has seen increases in product, logistics, and service revenues, along with improvements in advertising efforts [7] - Despite recent positive results, JD.com still faces challenges and requires investor confidence for a full recovery [8]