JPMorgan lists 9 China AI stocks as top Overweight picks

JPMorgan named 9 China AI ecosystem stocks Overweight on June 18, with price targets reaching as high as HKD1,400.

"China's AI opportunity spans the semiconductor supply chain, optical connectivity, and application layers," JPMorgan said in the research note.

The Hong Kong-listed picks include BIDU-SW (09888.HK) at HKD225, KNOWLEDGE ATLAS (02513.HK) at HKD1,400, WEICHAI POWER (02338.HK) at HKD52, VGT (02476.HK) at HKD600, and ILUVATAR COREX (09903.HK) at HKD620. On the A-share side, ZHONGJI INNOLIGHT (300308.SZ) received a RMB430 target, NAURA (002371.SZ) at RMB700, AMEC (688012.SH) at RMB289, and CHANG ELEC TECH (600584.SH) at RMB110.

The recommendations provide institutional backing for China's AI supply chain as the country pushes to develop domestic semiconductor and AI infrastructure. The nine stocks span three layers of the AI value chain: optical components for data center connectivity through ZHONGJI INNOLIGHT, semiconductor capital equipment through NAURA and AMEC, and AI applications through BIDU, KNOWLEDGE ATLAS, and ILUVATAR COREX. WEICHAI POWER and VGT add exposure to industrial AI and autonomous driving, respectively.

JPMorgan's broad coverage of the China AI sector shows the bank expects growth to extend across multiple subsectors rather than concentrate in a single name. The bank did not disclose previous ratings or price targets for comparison. Among the picks, KNOWLEDGE ATLAS carries the highest target at HKD1,400, while WEICHAI POWER has the lowest at HKD52.

The Overweight ratings across the group suggest JPMorgan expects broad-based AI-driven growth in China. Investors will monitor the next round of China AI policy announcements and company earnings for confirmation of the demand trajectory.

This article is for informational purposes only and does not constitute investment advice.