Hillhouse Capital Sells Shares in JD.Com, Bilibili in First Quarter, Buys EV Makers Nio, Xpeng
Liu Jia
DATE:  May 18 2021
/ SOURCE:  Yicai
Hillhouse Capital Sells Shares in JD.Com, Bilibili in First Quarter, Buys EV Makers Nio, Xpeng Hillhouse Capital Sells Shares in JD.Com, Bilibili in First Quarter, Buys EV Makers Nio, Xpeng

(Yicai Global) May 18 -- Hillhouse Capital Group, one of Asia’s largest private equity firms, pared its holdings in Chinese internet giants JD.Com and Bilibili in the first quarter, while buying the stock of other firms listed outside the mainland such as electric carmakers Nio and Xpeng Motors.

Hillhouse raised its overall investment in so-called China concept stocks in the three months ended March 31, according to information the Beijing-based company filed with the US Securities and Exchange Commission today.

It now has stakes in 91 US-listed companies, with a total market value of USD10.1 billion. More than 60 percent are China concept stocks, half of which are medical-related businesses. Among Hillhouse’s top 10 holdings are BeiGene, China Biologic Products, I-Mab Biopharma, Pinduoduo, iQiyi, and JD.Com.

Investors keep a watchful eye on Hillhouse’s quarterly investment choices. It manages funds worth more than USD65 billion.

The firm bought shares or raised its ownership in 11 concept stocks, focusing on hard and core technology, medicine and healthcare, as well as consumption. These firms included Beike, Huazhu Hotels Group, NetEase, Alibaba Group Holding, along with Nio and Xpeng.

Hillhouse trimmed its holdings in star concept stocks such as e-commerce platform JD.Com and video-sharing platform Bilibili and sold stakes in Tomorrow Advancing Life and Yiqi Education amid tighter regulatory oversight of the internet tutoring sector.

Shares of JD.Com and Bilibili hit new highs in February, after Bilibili soared 106 percent in the fourth quarter. They have since fallen, with their stocks down more than 30 percent from peak. TAL hit a record USD90 in February, but is now trading at nearly half its peak, as almost all online education stocks have slumped.

Editor: Peter Thomas

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Keywords:   Hillhouse,JD.Com,Bilibili,Nio,Xpeng Motors