CICC published a report, listing its investment ratings and target prices for Chinese dotcoms:

(1) Content, social and gaming companies
Shares│Ratings│Target prices
TENCENT (00700.HK)  +2.500 (+0.502%)    Short selling $774.66M; Ratio 8.007%   │Outperform│HKD600
NetEase (NTES.US)      │Outperform│USD145
NTES-S (09999.HK)  +1.000 (+0.492%)    Short selling $228.90M; Ratio 21.799%   │Outperform│HKD225
KUAISHOU-W (01024.HK)  +0.200 (+0.355%)    Short selling $443.17M; Ratio 23.959%   │Outperform│HKD80
Bilibili (BILI.US)      │Outperform│USD23
BILIBILI-W (09626.HK)  +2.800 (+1.813%)    Short selling $126.73M; Ratio 16.715%   │Outperform│HKD176
Zhihu (ZH.US)      │Outperform│USD6.1
iQiyi (IQ.US)      │Outperform│USD2
Tencent Music (TME.US)      │Outperform│USD20.70
TME-SW (01698.HK)  +0.050 (+0.068%)    Short selling $5.43M; Ratio 8.959%   │Outperform│HKD80
NETEASE MUSIC (09899.HK)  +2.000 (+0.859%)    Short selling $64.47M; Ratio 18.722%   │Outperform│HKD233
Hello Group (MOMO.US)      │Outperform│USD9.3
Yalla Group (YALA.US)      │Outperform│USD9
IGG (00799.HK)  -0.010 (-0.239%)    Short selling $703.42K; Ratio 4.278%   │Outperform│HKD4.16
JOYY (JOYY.US)      │Outperform│USD64
HUYA (HUYA.US)      │Outperform│USD4.6
Weibo (WB.US)      │Outperform│USD13
Baidu (BIDU.US)      │Outperform│USD99.1
BIDU-SW (09888.HK)  +0.250 (+0.304%)    Short selling $245.42M; Ratio 34.478%   │Outperform│HKD96
KANZHUN (BZ.US)      │Outperform│USD21
TONGDAO LIEPIN (06100.HK)  -0.050 (-1.309%)   │Outperform│HKD6.2
MEITU (01357.HK)  +0.130 (+1.697%)    Short selling $40.08M; Ratio 8.457%   │Outperform│HKD7.2

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(2) E-commerce and logistics
Shares│Ratings│Target prices
JD.com (JD.US)      │Outperform│USD48
Pinduoduo (PDD.US)      │Outperform│USD125
VIPShop (VIPS.US)      │Outperform│USD17.6
HUITONGDA NET (09878.HK)  -0.280 (-1.849%)    Short selling $129.88K; Ratio 0.271%   │Outperform│HKD36
JD LOGISTICS (02618.HK)  +0.380 (+3.293%)    Short selling $14.66M; Ratio 16.550%   │Outperform│HKD18.5
Dingdong (DDL.US)      │Outperform│USD3
Dada (DADA.US)│Outperform│USD5.2
Full Truck Alliance (YMM.US)      │Outperform│USD 15.68

(3) Local life, O2O and OTA
Shares│Ratings│Target prices
MEITUAN-W (03690.HK)  0.000 (0.000%)    Short selling $1.18B; Ratio 14.808%   │Outperform│HKD177
Trip.com (TCOM.US)      │Outperform│USD75.9
TRIP.COM-S (09961.HK)  -0.600 (-0.135%)    Short selling $385.35M; Ratio 15.701%   │Outperform│HKD588.5
TONGCHENGTRAVEL (00780.HK)  -0.630 (-3.111%)    Short selling $205.59M; Ratio 23.501%   │Outperform│HKD23
Didi Chuxing (DIDIY.US)      │Outperform│USD6
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2025-06-19 16:25.) (Real-time Streaming US Stocks Quote; Except All OTC quotes are at least 15 minutes delayed.)