Investment Thesis Chinese tech stocks were hit by a bombshell yesterday. The SEC threatened to delist five companies that it said did not adhere to the Holding Foreign Companies Accountability Act (HFCAA). These companies were: YumChina ( YUMC BeiGene ( BGN Zai Lab ( ZLAB ), ACM Research ACMR ), and Hutchmed ( HCM ). Interestingly, the act is not new. It was enacted in 2020 by the Trump Administration. So while the delisting rhetoric has often dominated the narrative over Chinese stock investments, few could have expected the SEC to renew its call now. Therefore, the timing also was…