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Caixin Global

Articles from Caixin Global

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Cross Asset Strategy

<ul><li>In Depth: Game Studios Have Bought Into AI, but Players Still Aren’t Sold In early August, sweltering heat in Shanghai did little to keep visitors away from ChinaJoy, China’s largest gaming expo.</li><li>Crowds packed the halls, queuing for demos, collecting merchandise and posing with cosplayers.</li><li>Most were in their 20s.</li></ul>

In Depth: Game Studios Have Bought Into AI, but Players Still Aren’t Sold In early August, sweltering heat in Shanghai did little to keep visitors away from ChinaJoy, China’s largest gaming expo.Crowds packed the halls, queuing for demos, collecting merchandise and posing with cosplayers.Most were in their 20s.

CX Daily: Game Studios Have Bought Into AI, but Players Still Aren’t Sold 

<ul><li>In Depth: China’s AI Component Powerhouse Faces Geopolitical Reckoning </li><li>In Depth: Millions Tied Up as Hong Kong IPO Fund Network Runs Into Trouble</li><li>Head of Zheshang Bank’s Lucrative Bills Business Taken Away by Authorities </li></ul>

In Depth: China’s AI Component Powerhouse Faces Geopolitical Reckoning In Depth: Millions Tied Up as Hong Kong IPO Fund Network Runs Into TroubleHead of Zheshang Bank’s Lucrative Bills Business Taken Away by Authorities 

CX Daily: China’s AI Component Powerhouse Faces Geopolitical Reckoning 

<ul><li>In Depth: China’s Renewable Energy Boom Runs Into Market Reality On July 2, China Resources New Energy Holdings Co. Ltd. (CRNE) pulled off the largest ever IPO on the Shenzhen Stock Exchange, with its shares soaring 137% on debut and briefly lifting the company’s market value above 300 billion yuan ($44 billion).</li><li><p>China’s booming tourism industry broke more records last year.</p></li><li><p>Domestic travelers took 6.52 billion trips and spent 6.3 trillion yuan ($930 billion), according to the Ministry of Culture and Tourism. </p></li></ul>

In Depth: China’s Renewable Energy Boom Runs Into Market Reality On July 2, China Resources New Energy Holdings Co. Ltd. (CRNE) pulled off the largest ever IPO on the Shenzhen Stock Exchange, with its shares soaring 137% on debut and briefly lifting the company’s market value above 300 billion yuan ($44 billion).China’s booming tourism industry broke more records last year.Domestic travelers took 6.52 billion trips and spent 6.3 trillion yuan ($930 billion), according to the Ministry of Culture and Tourism. 

CX Daily: China’s Renewable Energy Boom Runs Into Market Reality 

<ul><li>In Depth: How a South China Port Is Redrawing the Regional Logistics Map</li><li>In Depth: China’s Inbound Tourism Rebounds, but Supply Gaps Cloud Outlook</li><li>Analysis: Gold Caught in a Tug-of-War Between Asian Bulls and a Hawkish Fed</li></ul>

In Depth: How a South China Port Is Redrawing the Regional Logistics MapIn Depth: China’s Inbound Tourism Rebounds, but Supply Gaps Cloud OutlookAnalysis: Gold Caught in a Tug-of-War Between Asian Bulls and a Hawkish Fed

CX Daily: How a South China Port Is Redrawing the Regional Logistics Map 

HK/China Equity Long-Short

Osbert Tang, CFA

Equity Bottom-Up

<ul>
<li>Despite its recent rally, <a target="_blank">Meituan (3690 HK)</a> still lags the HSI YTD. For FY26-27F, it will be the sector's main growth driver. Its P/B is 1SD below the 5-year average.</li>
<li>It is disciplined in AI investments, focusing on operational efficiency, cost control, new business capabilities, and long-term strategic positioning. </li>
<li>Its portfolio of investments equals 9.5% of market capitalisation, and includes high-profile names like <a href="https://www.smartkarma.com/entities/moonshot-ai" target="_blank" data-smartkarma-citation="entities:46606:1" rel="noopener">Moonshot AI (MOONSHOTAI HK)</a>, <a href="https://www.smartkarma.com/entities/unitree-robotics" target="_blank" data-smartkarma-citation="entities:48008:1" rel="noopener">Unitree Robotics (UNITREE CH)</a>, etc.</li>
</ul>


Despite its recent rally, Meituan (3690 HK) still lags the HSI YTD. For FY26-27F, it will be the sector's main growth driver. Its P/B is 1SD below the 5-year average.
It is disciplined in AI investments, focusing on operational efficiency, cost control, new business capabilities, and long-term strategic positioning. 
Its portfolio of investments equals 9.5% of market capitalisation, and includes high-profile names like Moonshot AI (MOONSHOTAI HK), Unitree Robotics (UNITREE CH), etc.


2026 High Conviction Update: Meituan (3690 HK) - Disciplined AI Beneficiary

China

Unitree Robotics is an energetic start-up company focusing on the development, production and sales of high-performance quadruped robots. It has been interviewed by BBC and CCTV, and is one of the earliest company to publicly sell quadruped robots.

The company has an outstanding leadership in developing robot core components, motion control, robot perception, etc.

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Unitree Robotics (UNITREE CH)

CX Daily: Game Studios Have Bought Into AI, but Players Still Aren’t Sold

TOP STORIES In Depth: Game Studios Have Bought Into AI, but Players Still Aren’t Sold In early August, sweltering heat in Shanghai did little to...

Caixin Global

CX Daily: China’s AI Component Powerhouse Faces Geopolitical Reckoning

In Depth: China’s AI Component Powerhouse Faces Geopolitical Reckoning While open-weight models and industrial robotics are hogging...

Caixin Global

CX Daily: China’s Renewable Energy Boom Runs Into Market Reality

In Depth: China’s Renewable Energy Boom Runs Into Market Reality On July 2, China Resources New Energy Holdings Co. Ltd. (CRNE) pulled...

Caixin Global

CX Daily: How a South China Port Is Redrawing the Regional Logistics Map

TOP STORIES In Depth: How a South China Port Is Redrawing the Regional Logistics Map Even in the dead of night, the activity doesn’t stop at the...

Caixin Global

2026 High Conviction Update: Meituan (3690 HK) - Disciplined AI Beneficiary

Meituan returned to profit in 2Q26 at Rmb2.2bn and also achieved positive UE for the delivery business, indicating the fading effects of irrational...

Osbert Tang, CFA

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