Trotskyism, and by extension Trotsky himself (and vice versa) was definitely denounced in early Communist Chinese propaganda. Whether or not he was a "hate figure" depends on what criteria you use for that nebulous phrase. Since the question declined to define it, I'll focus on the government's general attitude instead - though personally, I would say it was protrayed as a minor hate figure.
Until the early 1980s, Communist China officially denounced Trotskyism as an "anti-Leninism and anti-revolutionary" movement. This party line is largely instigated by Stalin as an extension of his domestic factional politics in the 1930s. Thus, the Stalinist Communists have been denouncing Chinese Trotskyists over political reasons, with little attention given to Trotsky's actual ideology.
For example: reform the military, reform the political system, develop popular movements, enact defence education, suppress the race traitor Trotskyists, develop military industries, improve living conditions - should we do these seriously?
- Mao Zhedong, On Protracted War, speeches at Yan'an, 26 May to 3 June 1938
Here we see the Trotskyists demonised as Japanese collaborators, designed to evoke hatred for the group at a time of the Sino-Japanese War. When the People's Republic was founded in 1949, the general hostility has not changed. An anthology of Chairman Mao's Greatest Hits published in 1951, shortly after founding, Trotsky's footnotes read:
Trotsky's group was originally an anti-Leninism faction in the labour movement of Russia. Later it corrupted into a group of completely anti-revolutionary bandits. Now, Trotskyism is not a political faction of the proletariat, but instead a renegade gang of unprincipled, unthinking assassins, saboteurs, spies, murderers. It is a gang which acts on behalf of foreign spy agencies, and the enemy of the working class.
Thus, the official propaganda clearly casts Trotsky and Trotskyism as public enemies. Trostky's actual beliefs were not important, and in fact glossed over as much as possible. It suffices for propaganda purposes to paint him and his followers as treasonous counter-revolutionary criminals. I would consider this to be depicting a hate figure, although since Trotsky was dead the obvious focus was on his supposed adherents in China.
At this point early major Chinese Trotskyists were either dead or exiled, with one defected to the Nationalists. Others (numbering in their hundreds) were rounded up to be "reformed". In reality, they were often no more than victims of internal Communist powerplays. Rehabilitation began in the late 1980s, and the 1991 version of the previous footnote was updated to briefly acknowledge Trotsky's contributions:
Trotstky (1879-1940), after the October Revolutions held positions such as People's Commissar of Military and Naval Affairs. After Lenin died, he opposed Lenin's theory and path of building socialism in the Soviet Union, and was expelled in November 1927. Trotsky engaged in many divisive and destructive sabotage in international Communist movements.
It appears that thee remaining attacks on Trostky were finally removed in the 1999 edition.