Insights | What do Hillhouse Capital’s investments tell us about China tech stocks?

Among the 64 stocks held by Hillhouse Capital in the first quarter of this year, 24 were Chinese firms, accounting for about 38% of the total amount. Credit: 123RF

Note: This article was first published on TechNode China (in Chinese).

Hillhouse Capital is a top investment institution whose investment moves are often regarded as trendsetting when related to US-listed Chinese firms. This year, the firm’s latest investment disclosure showed its new position: heavily selling Chinese EV trio Nio, Xpeng, and Li Auto, reorienting several bets in e-commerce, and keeping investments in biotechnology with some adjustments. 

The detailed investment moves can be found in a report filed by HHLR Advisors, the fund management arm of Hillhouse. HHLR Advisors filed its first-quarter 13F form on May 16, a quarterly report required to be filed by institutional investment managers overseeing at least $100 million in assets. It discloses their holdings and acts and is something of a cheat sheet for investors assessing their own positions. 

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Jasmine Zheng is a reporter for TechNode China. She covers financial technology, health technology, and e-commerce.
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Ward Zhou is a tech reporter based in Shanghai. He covers stories about industry of digital content, hardware, and anything geek. Reach him at ward.zhou[a]technode.com.
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