Two Top Chinese Stocks To Buy Now
In this article, we will go over the top two Chinese stocks that investors should buy now in preparation for 2023.
Precious Njoku is a Financial Writer with extensive knowledge about the stock market.
2022-12-10 11:30

China has the most people on the planet and the second-largest economy. It also has excellent entrepreneurial activity and a thriving urban middle class. Across various industries, dozens of Chinese stocks are frequently among the best performers at any given time.Two Top Chinese Stocks To Buy Now, Inc. (NASDAQ: JD) and DAQO New Energy Corporation (NYSE: DQ) are two of the most promising investments in Chinese equities for 2023. These stocks were selected after receiving top analyst coverage, strong business fundamentals, positive future growth prospects and revenue from the third quarter.

JD.COM, Inc, Inc. is a company that offers technologies and services based on supply chains. The company sells computers, communication, consumer electronics products, and home appliances. They also deal with general merchandise products, which include food, beverage, and fresh produce. baby and maternity products, and many more. (NASDAQ: JD) reported RMB 243 million in net sales for the third quarter of 2022.5 billion, equivalent to $34.2 billion in current US currency, an increase of 11.4% compared to the same period in 2021. Compared to the same period in 2021, the net product revenues for the third quarter of 2022 increased by 5.9%, while the net service revenues increased by 42.2%.

This stock is one to buy if you want to invest in Chinese stocks.

Solar energy company DAQO is technically a manufacturer of semiconductors, but it is also a green energy company because of its focus on photovoltaic products. Daqo (NYSE: DQ) is a significant player in the solar energy industry.

DQ, which has its headquarters in Shanghai, maintains strong relationships with some of the most influential policymakers in China. These policymakers are eager to wean the country off fossil fuels and help clean up the poor air quality in some of the nation's more extensive and polluted cities.

Earnings at Daqo New Energy increased from 64 cents per share in 2019 to $9.89 in 2021 and an estimated $27.27 in 2022. Daqo New Energy is a leading low-cost manufacturer of high-purity polysilicon for the solar photovoltaic industry. It is anticipated that EPS will decrease to $21.02 in 2023. The increase in Daqo's quarterly earnings has slowed to just 9% from 167% in the previous quarter and 524% in the first quarter.

The increase in sales decreased from 400% to 182%, but it was still solid at 108% in the third quarter. As a result of the generous new tax incentives offered in the United States, the demand for solar energy is exploding not only in China but also around the world. However, the United States also places significant tariffs on solar products manufactured in China. The United States government has accused several Chinese corporations of engaging in unlawful tax evasion by rerouting their shipments through other Asian countries.

The DAQO New Energy Corporation's valuation metrics suggest the company is worth looking into. The fact that it received an A for its value score demonstrates that it is a solid option for value investors. The robust state of DQ's finances and potential for future expansion point to the company's ability to outperform the market.

Conclusively, Both, Inc. and DAQO New Energy Corp. have reported significant growth in their revenue this year and in the third quarter. According to our research, these two Chinese stocks are the best two to own in the final few days of 2022.

Disclaimer: I have no positions in any of the stocks mentioned. I wrote this article myself, and it expresses my own opinions. I have no business relationship with any company whose stock is mentioned in this article. All information should be independently verified and should not be relied upon for purposes of transacting securities or other investments. See terms for more info.

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2022-12-10 11:30

About the Author
Precious Njoku is a Financial Writer with extensive knowledge about the stock market.

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