Asian Hedge Fund Manager, Long Short Equity, Macro

David Mudd

Equity Bottom-Up

Hua Hong Semiconductor / Equity Bottom-Up

<ul>
<li>After hitting a low point in Q4 2023, Research on Hong Kong companies has been slow to pick up reflecting the ongoing skepticism from investors. </li>
<li>Reports on the large China tech companies dominated the top ten companies covered over the last couple of years and in the first half of 2024.</li>
<li>As China continues to dominate and make news in the global EV market, research in that sector has picked up.</li>
</ul>


After hitting a low point in Q4 2023, Research on Hong Kong companies has been slow to pick up reflecting the ongoing skepticism from investors. 
Reports on the large China tech companies dominated the top ten companies covered over the last couple of years and in the first half of 2024.
As China continues to dominate and make news in the global EV market, research in that sector has picked up.


BUY/SELL/HOLD: China/Hong Kong Stock Updates (July 8th)

Blue Lotus China New Economy Research, Blue Lotus Research Institute

Eric Wen

Blue Lotus China New Economy Research

China growth and global non-US Internet equities

Blue Lotus Research Institute

Blue Lotus Research is a Hong Kong Type 4 Licensed investment advisory firm focusing on Chinese growth equities and global non-US Internet equities

Thematic (Sector/Industry)

<ul>
<li>1211 HK/LI US /1810 HK/NIO US/XPEV US: In the 26th week of 2024 (6/24-6/30), new energy vehicles strengthened across the board, mainly due to consumption subsidies（/////////）</li>
<li>MNSO US: Indonesia Plans to Impose 100%-200% Tariffs on Chinese Imports (-)</li>
<li>Macro News Update: Expectations Rise for Consumption Tax Reform (+)</li>
</ul>


1211 HK/LI US /1810 HK/NIO US/XPEV US: In the 26th week of 2024 (6/24-6/30), new energy vehicles strengthened across the board, mainly due to consumption subsidies（/////////）
MNSO US: Indonesia Plans to Impose 100%-200% Tariffs on Chinese Imports (-)
Macro News Update: Expectations Rise for Consumption Tax Reform (+)


[Blue Lotus Daily]:1211 HK/LI US /1810 HK/NIO US/XPEV US/MNSO US/981 HK/BEKE US/2150 HK

<ul>
<li>1810 HK/1211 HK/LI US/NIO US/XPEV US: EV sales were strong in the 25th week of 2024, with several brands reaching new highs (/////////)</li>
<li>ATAT US:The first Atour Hotel 4.0 opens in Xi'an. (+)</li>
<li>Ministry of Commerce: Mainland China will increase the tax-free allowance for luggage carried by resident travelers entering from Hong Kong and Macao</li>
</ul>


1810 HK/1211 HK/LI US/NIO US/XPEV US: EV sales were strong in the 25th week of 2024, with several brands reaching new highs (/////////)
ATAT US:The first Atour Hotel 4.0 opens in Xi'an. (+)
Ministry of Commerce: Mainland China will increase the tax-free allowance for luggage carried by resident travelers entering from Hong Kong and Macao


[Blue Lotus Daily]:1810HK/1211HK/LI/NIO /XPEV/ATAT/2352CH/BEKE/2618HK/2352SZ/ZTO/1519HK/981HK/9699HK

<ul>
<li>1810 HK: Xiaomi EV deliveries continue to rebound in week 25 of 2024(/)</li>
<li>1810 HK/JD US: Data provider says smartphone sales volume grew 6.8% yoy during 6/18 (+/+)</li>
<li>ATAT US: Atour Planet achieved a GMV of RMB370mn during the 618 promotion, representing a year-on-year growth of 230%(+)</li>
</ul>


1810 HK: Xiaomi EV deliveries continue to rebound in week 25 of 2024(/)
1810 HK/JD US: Data provider says smartphone sales volume grew 6.8% yoy during 6/18 (+/+)
ATAT US: Atour Planet achieved a GMV of RMB370mn during the 618 promotion, representing a year-on-year growth of 230%(+)


[Blue Lotus Daily]:1810 HK/JD US/ATAT US/BEKE US/981 HK

Managing Director, Zero One, Zero One

Vincent Fernando, CFA

Managing Director, Zero One

Zero One

Founded in 2015, Zero One produces independent investment research and provides corporate finance advisory services with a focus on both listed and private technology companies. Founder Vincent Fernando has over 20 years of experience in US and Asia capital markets.

Independent Investment Research

Taiwan Semiconductor (TSMC) / Equity Bottom-Up

<ul>
<li>Taiwan Shares Fall With Nvidia... SK Hynix HBM DRAM with Global Unichip? Taiwan's Vietnam Shift Continues... Broadcom Developing an AI Chip with Bytedance</li>
<li>TechChain Insights: Call with Elan Micro; AI PC Significant Uptake 4Q24/1H25; Supply Chain Preparing </li>
<li>UMC (2303.TT; UMC.US): The Outlook for 3Q24 Has Reached a Slightly Upside QoQ. </li>
</ul>


Taiwan Shares Fall With Nvidia... SK Hynix HBM DRAM with Global Unichip? Taiwan's Vietnam Shift Continues... Broadcom Developing an AI Chip with Bytedance
TechChain Insights: Call with Elan Micro; AI PC Significant Uptake 4Q24/1H25; Supply Chain Preparing 
UMC (2303.TT; UMC.US): The Outlook for 3Q24 Has Reached a Slightly Upside QoQ. 


Taiwan Tech Weekly: Declines With Nvidia; Taiwan's Vietnam Shift Continues; UMC's Outlook Improves

China

Semiconductor Manufacturing International Corporation operates a semiconductor foundry. The Company provides integrated circuit foundry and technology services including the testing, development, design, manufacturing, packaging, and sale of integrated circuits. Semiconductor Manufacturing International offers its products and services around the world.

Semiconductor Manufacturing International Corp (SMIC) (981 HK)

Semiconductor Manufacturing International Corp (SMIC)

Price Gauge
52-week Range	0.00 - 0.00
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Semiconductor Manufacturing International Corp (SMIC) (981 HK)

BUY/SELL/HOLD: China/Hong Kong Stock Updates (July 8th)

Tech NEV companies continue to dominate the research landscape for Hong Kong coverage. Bosideng, China Water Affairs, Topsports, BYD and Xiaomi...

David Mudd

[Blue Lotus Daily]:1211 HK/LI US /1810 HK/NIO US/XPEV US/MNSO US/981 HK/BEKE US/2150 HK

New energy vehicles see growth in 26th week of 2024 due to consumption subsidies; Indonesia plans high tariffs on Chinese imports; expectations...

Blue Lotus Research Institute

[Blue Lotus Daily]:1810HK/1211HK/LI/NIO /XPEV/ATAT/2352CH/BEKE/2618HK/2352SZ/ZTO/1519HK/981HK/9699HK

EV sales surge in 25th week of 2024, Atour Hotel 4.0 opens in Xi'an, China raises tax-free allowance for resident travelers from Hong Kong and Macao.

Blue Lotus Research Institute

[Blue Lotus Daily]:1810 HK/JD US/ATAT US/BEKE US/981 HK

Xiaomi EV deliveries rebound, smartphone sales volume grows, Atour Planet sees significant GMV growth during 618 promotion.

Blue Lotus Research Institute

Taiwan Tech Weekly: Declines With Nvidia; Taiwan's Vietnam Shift Continues; UMC's Outlook Improves

New Vietnam investments by Hon Hai and Wistron, Elan preparing for significant AI PC uptake in 4Q24/1H25, UMC's outlook increasingly optimistic for...

Vincent Fernando, CFA

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

BUY/SELL/HOLD: China/Hong Kong Stock Updates (July 8th)

Tech NEV companies continue to dominate the research landscape for Hong Kong coverage. Bosideng, China Water Affairs, Topsports, BYD and Xiaomi...

David Mudd

[Blue Lotus Daily]:1211 HK/LI US /1810 HK/NIO US/XPEV US/MNSO US/981 HK/BEKE US/2150 HK

​New energy vehicles see growth in 26th week of 2024 due to consumption subsidies; Indonesia plans high tariffs on Chinese imports; expectations...

Blue Lotus Research Institute

[Blue Lotus Daily]:1810HK/1211HK/LI/NIO /XPEV/ATAT/2352CH/BEKE/2618HK/2352SZ/ZTO/1519HK/981HK/9699HK

​EV sales surge in 25th week of 2024, Atour Hotel 4.0 opens in Xi'an, China raises tax-free allowance for resident travelers from Hong Kong and Macao.

Blue Lotus Research Institute

[Blue Lotus Daily]:1810 HK/JD US/ATAT US/BEKE US/981 HK

​Xiaomi EV deliveries rebound, smartphone sales volume grows, Atour Planet sees significant GMV growth during 618 promotion.

Blue Lotus Research Institute

Taiwan Tech Weekly: Declines With Nvidia; Taiwan's Vietnam Shift Continues; UMC's Outlook Improves

New Vietnam investments by Hon Hai and Wistron, Elan preparing for significant AI PC uptake in 4Q24/1H25, UMC's outlook increasingly optimistic for...

Vincent Fernando, CFA

New energy vehicles see growth in 26th week of 2024 due to consumption subsidies; Indonesia plans high tariffs on Chinese imports; expectations...

EV sales surge in 25th week of 2024, Atour Hotel 4.0 opens in Xi'an, China raises tax-free allowance for resident travelers from Hong Kong and Macao.

Xiaomi EV deliveries rebound, smartphone sales volume grows, Atour Planet sees significant GMV growth during 618 promotion.