China Q4 Update & 2026 Outlook: Five-Year Plan, Pro-Profit Policy, New Listings

China’s equity market closed 2025 among the world’s strongest performers, led by accelerating momentum in internet platforms, artificial intelligence (AI), and e-commerce—the core engines of KWEB’s investment universe. Many of China’s leading technology and AI companies continue to trade at lower earnings multiples compared to U.S. peers, even as profit margins stabilize and earnings momentum improves, which could create a compelling setup as investors look ahead to 2026. Confidence is also returning to China’s capital markets. A wave of high-profile Hong Kong IPO filings—including Baidu’s Kunlun chip unit, Biren Technology, Minimax, and Zhipu— highlights the depth of China’s AI and semiconductor pipeline and could help re-ignite investor enthusiasm. At the policy level, statements from the draft of the upcoming 15th Five-Year Plan reinforce China’s commitment to technological leadership, corporate discipline, and domestic consumption. At the same time, easing U.S.–China tensions could reduce headline risk and help support renewed global investor engagement in 2026. Join KraneShares CIO Brendan Ahern and Head of International Dr. Xiaolin Chen for a focused discussion on where they see the most compelling opportunities—and key risks—across China’s internet and innovation sectors. In this webinar, we will cover: What recent earnings signal for China’s internet and AI leaders How policy and capital-markets activity may shape returns Where valuations look most attractive for 2026 Live Q&A with KraneShares’ investment team Investors can submit questions by emailing info@kraneshares.com 1 CFP/CIMA Credit Available Please email ce@kraneshares.com to receive credit. For KWEB standard performance, top 10 holdings, risks, and other fund information, please click here. Holdings are subject to change. For KOID standard performance, top 10 holdings, risks, and other fund information, please click here.