利好来了！中国资产，密集上调！

Core Viewpoint - The target prices for various Chinese assets have been raised by multiple financial institutions, indicating a positive outlook for the Chinese market despite recent declines in global markets [1][2][3]. Group 1: Target Price Adjustments - Daiwa Securities raised Alibaba's target price from HKD 165 to HKD 175, citing higher capital expenditure and expected growth in cloud revenue [2]. - Daiwa also increased JD Group's target price from HKD 204 to HKD 216, reflecting strong revenue momentum driven by JD Retail [3]. - HSBC raised Xiaomi's target price by 31.5%, from HKD 49.9 to HKD 65.6, anticipating strong sales for the SU7 Ultra model [3]. - Citi upgraded the target prices for AAC Technologies and Sunny Optical, with AAC's target price raised from HKD 46 to HKD 53.1 and Sunny's from HKD 77 to HKD 102 [4]. - Credit Lyonnais increased JD Health's target price from HKD 40 to HKD 45, based on expected revenue growth [5]. - Goldman Sachs raised target prices for several securities firms, including CICC from HKD 14.68 to HKD 16.47, CITIC Securities from HKD 18.34 to HKD 20.68, and GF Securities from HKD 9.93 to HKD 11.18 [5]. Group 2: Market Outlook - Robeco's China investment head noted that China's market valuation remains low compared to historical data and emerging markets, maintaining a positive outlook for Chinese stocks [6]. - UBS's analyst expects a 6% growth in earnings per share for the constituents of the CSI 300 index this year, with potential for higher gains if the A-share market continues to rise [6]. - The anticipated net inflows into the A-share market from various funds are projected to be significant, with insurance funds expected to contribute CNY 1 trillion [7]. - The performance of Chinese tech giants has been strong, with a market value increase of USD 439 billion this year, contrasting with declines in major US tech stocks [7]. - The government’s focus on capital market stability and the implementation of policies to enhance the investment environment are expected to support a gradual improvement in the domestic economy [8].