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Analysts at China International Capital Corp Ltd said in a research note that A-share valuations could be more attractive after the latest correction and the stock prices will likely be supported by the listed companies' earnings improvements.

Analysts said the surge shows investors are optimistic about the company's potential, although Nio still faces many challenges in the cutthroat new energy vehicle market, especially after its IPO last month.

And that's not all. As well as aquatic weeds that can be used to feed crabs and purify water more effectively, Wang's company also produces more than 200 plant strains for water pollution control.

Analysys analyst Zhang predicted the business model of public bikes with locking poles will eventually be replaced by dockless bikes, because the former lacked competitiveness in technology and user experience.

Analysts with Nomura also warned that the possible deterioration of external demand and the trade row with the United States could weigh on China's economic recovery.