Baidu Inc. , Tencent Holdings Ltd. , and Sina Corp. offer the best returns for investors seeking to profit from growth in China’s Internet market as consumers increase online spending, according to brokerage CLSA Ltd.
Baidu Inc., operator of China’s biggest search engine, forecast sales growth that exceeded analysts’ estimates after customer gains accelerated on Google Inc.’s decision to move its Chinese site offshore.
Tencent Holdings Ltd., the best performer in Hong Kong’s benchmark index since its 2004 listing, plans a share split to boost holdings by individuals after earnings missed estimates on higher costs for its WeChat app.
Alibaba.com Ltd., China’s biggest corporate e-commerce site, jumped the most in more than four years after its parent company bid as much as HK$19.6 billion ($2.5 billion) to buy out minority shareholders.
China Postal Express & Logistics Co., the nation’s biggest courier, is seeking 9.98 billion yuan ($1.6 billion) in an initial public offering as it struggles to keep pace with a domestic delivery market growing 20 percent a year.
Tencent Holdings Ltd., Asia’s largest Internet company, surged in Hong Kong trading after first- quarter profit rose 60 percent because of online game sales and advertising revenue from its WeChat and QQ messaging services.