China Q3 Update: Earnings-Driven Re-Rating? & IPO Pipeline

KraneShares CIO Brendan Ahern and Head of International Dr. Xiaolin Chen present the firm's third-quarter outlook for China's equity market in this webinar. The description frames the year so far as a divergence: mainland-listed hardware technology stocks have performed well while internet and consumer platforms have sold off, and it points to a heavy pipeline of mainland technology IPOs. The session also covers what the firm sees as a potential earnings turnaround for large internet companies as the current capex cycle peaks.

1. The description cites a deep divergence in China's market this year, with mainland-listed hardware technology stocks performing well while internet and consumer platforms sold off despite their link to the AI story.
2. Chang Xin Memory listed in July, Yangtze Memory is expected to follow with a potential blockbuster IPO, and robotics company Unitree debuted in August, with listings from DeepSeek and Moonshot still to come.
3. The firm argues internet hyper-scalers such as Alibaba could see a significant rebound in profitability as the current capital expenditure cycle peaks, which it says could drive a re-rating.
4. The webinar includes a segment on accessing local technology IPOs through the KraneShares China Technology & Semiconductor STAR Market 50 ETF (KSTR), and offers one CFP/CIMA credit.