They will recover, although not sure some of those names will command their previous multiples for a time. I’m feeling that the way to invest in China has changed. Domestic-oriented companies are at greater risk of regulation and demographic pressure. The ones you want to own are in the critical technology of the future, ideally that the rest of the world is or will become somewhat-reliant upon. The FT did a video about this recently: Will China become the centre of the world economy? | FT - YouTube, and they listed those key sectors as the below:
I would add EVs as well considering Chinese manufacturers have more experience than western carmakers and of course low cast bases.
The rest of their market might earn too low returns for the risk.