A unit of Beijing-based investment firm Hillhouse increased its exposure to two US-listed Chinese new-energy vehicle (NEV) makers, Li Auto and Xpeng, while offloading shares in internet giants Alibaba Group Holding and Bilibili, Caixin reported.
The adjustments to its investments, revealed in a filing to the US Securities and Exchange Commission, are likely to reflect investor concerns about the Chinese tech sector’s prospects after last year’s domestic regulatory onslaught.
Read the full report: Caixin
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