HSBC Research has published a research report on the investment ratings and target prices of Chinese internet stocks as follows:

Stocks | Investment Rating | Target Price

Tencent Holdings (00700.HK) | Buy | HK$500 -> HK$570

Netease (NTES.US) | Buy | $100 -> $120

Meituan (03690.HK) | Buy | HK$172 -> HK$220

PDD Holdings (PDD.US) | Buy | $140 -> $183

jd.com (JD.US) | Buy | $38 -> $53

Alibaba (BABA.US) | Buy | $112 -> $134

Vipshop (VIPS.US) | Hold | $14.2 -> $16.7

Kuaishou (01024.HK) | Buy | HK$60 -> HK$75

Baidu (BIDU.US) | Hold | $100 -> $120

Huya Inc (HUYA.US) | Buy | $5.6 -> $6.7

Tencent Music (TME.US) | Hold | $11 -> $13.5

Bilibili (BILI.US) | Hold | $16.2 -> $23

iQIYI (IQ.US) | Shareholding | $1.9 -> $2.4

DouYu (DOYU.US) | Shareholding | $6.6 -> $8

New Oriental (EDU.US) | Buy | $81 -> $104

TAL Education (TAL.US) | Buy | $11 -> $14.3

Kanzhun (BZ.US) | Buy | $17.3 -> $23.5

Autohome (ATHM.US) | Buy | $34 -> $40