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>NIO US/1810 HK/ LI US: EV sales in the 20th week of 2024 NIO, Xiaomi and LI performed well(/////)</li>
<li>BEKE US: Shanghai implements central government policies to further stimulate property market demand from nine aspects.(+)</li>
<li>981 HK/1347 HK/1810 HK/ACMR/China semiconductor: China launches Big Fund III to support semiconductor development (+)</li>
</ul>


NIO US/1810 HK/ LI US: EV sales in the 20th week of 2024 NIO, Xiaomi and LI performed well(/////)
BEKE US: Shanghai implements central government policies to further stimulate property market demand from nine aspects.(+)
981 HK/1347 HK/1810 HK/ACMR/China semiconductor: China launches Big Fund III to support semiconductor development (+)


[Blue Lotus Daily]:NIO US/1810 HK/ LI US/BEKE US/981 HK/1347 HK/ACMR/9926 HK

<ul>
<li>9926 HK/1801 HK/ BGNE US/9995 HK: US Biosecure Act extended Chinese CXO collaboration until 2032  (+/+/+/+)</li>
<li>BGNE US :BeiGene’s performance in the first quarter of 2024 exceeded expectations, especially benefiting from overseas BRUKINSA(/)</li>
<li>ZLAB US:Zai Lab's revenue and profit in the first quarter of 2024 exceeded expectations, mainly due to Efgartigimod.(/)</li>
</ul>


9926 HK/1801 HK/ BGNE US/9995 HK: US Biosecure Act extended Chinese CXO collaboration until 2032  (+/+/+/+)
BGNE US :BeiGene’s performance in the first quarter of 2024 exceeded expectations, especially benefiting from overseas BRUKINSA(/)
ZLAB US:Zai Lab's revenue and profit in the first quarter of 2024 exceeded expectations, mainly due to Efgartigimod.(/)


[Blue Lotus Daily]:9926 HK/1801HK/ BGNE/9995HK/ZLAB/NIO/LI/1211HK/BEKE/1810HK/3888HK/981HK/MSFT/INTC

HK/China Equity Long-Short

Osbert Tang, CFA

<ul>
<li>Many have missed out on the 14%, or 2,300 points, rally of the HSI in the last 9 trading days. There are still several stocks that look interesting now.</li>
<li>
<a href="https://www.smartkarma.com/entities/li-auto-inc-3dbe6187-544f-40dd-b9f9-72fba9c0110e" target="_blank" data-smartkarma-citation="entities:33811:1" rel="noopener">Li Auto (2015 HK)</a>, <a href="https://www.smartkarma.com/entities/link-reit" target="_blank" data-smartkarma-citation="entities:872:1" rel="noopener">Link REIT (823 HK)</a>, <a href="https://www.smartkarma.com/entities/china-mengniu-dairy-co" target="_blank" data-smartkarma-citation="entities:354:1" rel="noopener">China Mengniu Dairy Co (2319 HK)</a>, <a href="https://www.smartkarma.com/entities/hang-lung-properties-ltd" target="_blank" data-smartkarma-citation="entities:49:1" rel="noopener">Hang Lung Properties (101 HK)</a> and <a href="https://www.smartkarma.com/entities/galaxy-entertainment-group-limited" target="_blank" data-smartkarma-citation="entities:806:1" rel="noopener">Galaxy Entertainment Group (27 HK)</a> are massive laggards YTD.</li>
<li>As they have only experienced limited rebounds from the 19-Apr trough, they are set to catch up. Also, their earnings prospects look positive this year. </li>
</ul>


Many have missed out on the 14%, or 2,300 points, rally of the HSI in the last 9 trading days. There are still several stocks that look interesting now.

Li Auto (2015 HK), Link REIT (823 HK), China Mengniu Dairy Co (2319 HK), Hang Lung Properties (101 HK) and Galaxy Entertainment Group (27 HK) are massive laggards YTD.
As they have only experienced limited rebounds from the 19-Apr trough, they are set to catch up. Also, their earnings prospects look positive this year. 


HK Strategy: Where Are the Short-Term Opportunities?

Taiwan Tech Focused Senior Analyst

Patrick Liao

Equity Bottom-Up

Novatek Microelectronics Corp / Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/novatek-microelectronics-corp" target="_blank" data-smartkarma-citation="entities:10904:1" rel="noopener">Novatek Microelectronics Corp (3034 TT)</a>'s sales in 1Q24 showed a 6.2% YoY growth, implying a positive growth outlook for 2024F compared to 2023.</li>
<li>Looking ahead to 2Q24F forecasts, the anticipated orders from <a href="https://www.smartkarma.com/entities/united-microelectronics-corp" target="_blank" data-smartkarma-citation="entities:6450:1" rel="noopener">United Microelectronics Corp (2303 TT)</a> could have a positive impact on Novatek's 1Q24 sales.</li>
<li>A significant growth is expected after 2Q24, particularly following Novatek's qualification for the <a href="https://www.smartkarma.com/entities/apple-inc" target="_blank" data-smartkarma-citation="entities:666:1" rel="noopener">Apple (AAPL US)</a> iPhone 16.</li>
</ul>



Novatek Microelectronics Corp (3034 TT)'s sales in 1Q24 showed a 6.2% YoY growth, implying a positive growth outlook for 2024F compared to 2023.
Looking ahead to 2Q24F forecasts, the anticipated orders from United Microelectronics Corp (2303 TT) could have a positive impact on Novatek's 1Q24 sales.
A significant growth is expected after 2Q24, particularly following Novatek's qualification for the Apple (AAPL US) iPhone 16.


Novatek (3034.TT): 2Q24F Keeps Growing, and 3Q24F Shall Grow Significantly.

Asia Pac IPO & Placement Research, China biotech, Aequitas Research

Ke Yan, CFA, FRM

Asia Pac IPO & Placement Research, China biotech

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Quantitative Analysis

<ul>
<li>We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of April 12th.</li>
<li>The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.</li>
<li>We highlight flows for China Mobile, Xiaomi, Bank Of China.</li>
</ul>


We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of April 12th.
The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.
We highlight flows for China Mobile, Xiaomi, Bank Of China.


Hong Kong Connect Flows (Apr 12th): China Mobile, Xiaomi, Bank Of China

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
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Semiconductor Manufacturing International Corp (SMIC) (981 HK)

[Blue Lotus Daily]:NIO US/1810 HK/ LI US/BEKE US/981 HK/1347 HK/ACMR/9926 HK

EV sales for NIO, Xiaomi, and LI were strong in the 20th week. Shanghai is implementing policies to boost property market demand. China has...

Blue Lotus Research Institute

[Blue Lotus Daily]:9926 HK/1801HK/ BGNE/9995HK/ZLAB/NIO/LI/1211HK/BEKE/1810HK/3888HK/981HK/MSFT/INTC

US Biosecure Act extends Chinese collaboration until 2032, BeiGene and Zai Lab exceed Q1 expectations with BRUKINSA and Efgartigimod.

Blue Lotus Research Institute

HK Strategy: Where Are the Short-Term Opportunities?

Li Auto, Link REIT, China Mengniu, Hang Lung Properties, and Galaxy Entertainment are massive laggards YTD but the recent rebound from the trough...

Osbert Tang, CFA

Novatek (3034.TT): 2Q24F Keeps Growing, and 3Q24F Shall Grow Significantly.

Novatek's strong 1Q24 sales growth sets a positive tone for 2024, with potential boosts from UMC orders and iPhone 16 qualification.

Patrick Liao

Hong Kong Connect Flows (Apr 12th): China Mobile, Xiaomi, Bank Of China

We analyzed southbound Hong Kong connect flows in the past week and highlight flows for China Mobile, Xiaomi, Bank Of China.

Ke Yan, CFA, FRM

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

[Blue Lotus Daily]:NIO US/1810 HK/ LI US/BEKE US/981 HK/1347 HK/ACMR/9926 HK

​EV sales for NIO, Xiaomi, and LI were strong in the 20th week. Shanghai is implementing policies to boost property market demand. China has...

Blue Lotus Research Institute

[Blue Lotus Daily]:9926 HK/1801HK/ BGNE/9995HK/ZLAB/NIO/LI/1211HK/BEKE/1810HK/3888HK/981HK/MSFT/INTC

​US Biosecure Act extends Chinese collaboration until 2032, BeiGene and Zai Lab exceed Q1 expectations with BRUKINSA and Efgartigimod.

Blue Lotus Research Institute

HK Strategy: Where Are the Short-Term Opportunities?

Li Auto, Link REIT, China Mengniu, Hang Lung Properties, and Galaxy Entertainment are massive laggards YTD but the recent rebound from the trough...

Osbert Tang, CFA

Novatek (3034.TT): 2Q24F Keeps Growing, and 3Q24F Shall Grow Significantly.

​Novatek's strong 1Q24 sales growth sets a positive tone for 2024, with potential boosts from UMC orders and iPhone 16 qualification.

Patrick Liao

Hong Kong Connect Flows (Apr 12th): China Mobile, Xiaomi, Bank Of China

We analyzed southbound Hong Kong connect flows in the past week and highlight flows for China Mobile, Xiaomi, Bank Of China.

Ke Yan, CFA, FRM

EV sales for NIO, Xiaomi, and LI were strong in the 20th week. Shanghai is implementing policies to boost property market demand. China has...

US Biosecure Act extends Chinese collaboration until 2032, BeiGene and Zai Lab exceed Q1 expectations with BRUKINSA and Efgartigimod.

Novatek's strong 1Q24 sales growth sets a positive tone for 2024, with potential boosts from UMC orders and iPhone 16 qualification.