China/Asia TMT

Shawn Yang

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>C1H23 solar PV and wind power capacity addition grew 154% and 72% YoY in China, significantly above 2022 growth. With the real estate fallout, renewable capex will likely stay robust. </li>
<li>We view hydrogen being constrained by its end use in the near future. Incremental renewable capex will still go to solar and wind;</li>
<li>Capacity addition is a long-term problem. But we don’t think overcapacity is an issue now. Capacity investment in upgrading technology is a plus. The more should be the better.</li>
</ul>


C1H23 solar PV and wind power capacity addition grew 154% and 72% YoY in China, significantly above 2022 growth. With the real estate fallout, renewable capex will likely stay robust. 
We view hydrogen being constrained by its end use in the near future. Incremental renewable capex will still go to solar and wind;
Capacity addition is a long-term problem. But we don’t think overcapacity is an issue now. Capacity investment in upgrading technology is a plus. The more should be the better.


[Blue Lotus Sector Update]: Is There a Good Capacity War from China?

<ul>
<li>Luckin Coffee: Price war continue and competition in low tier cities expansion intensified</li>
<li>CATL/ LI: CATL unveils Shenxing Battery ( + / +)</li>
<li>700.HK: Honor of Kings Faces Reputation Crisis Recently( - )</li>
</ul>


Luckin Coffee: Price war continue and competition in low tier cities expansion intensified
CATL/ LI: CATL unveils Shenxing Battery ( + / +)
700.HK: Honor of Kings Faces Reputation Crisis Recently( - )


China TMT Update-Luckin/CATL/LI/700.HK:HoK Crisis;Coffee Price War Continue; Shenxing Battery

Articles from Caixin Global, Caixin Global

Caixin Global

Articles from Caixin Global

Caixin is a media group dedicated to providing financial and business news through periodicals, online content, mobile apps, conferences, books and TV/video programs. Caixin aims to blaze a trail that helps traditional media prosper in the new media age through integrated multimedia platforms.

News from Caixin

Cross Asset Strategy

<ul><li>Green power /Analysis: China’s updated green power market guidelines set to drive interprovincial trading</li><li>HKEX /: HKEX first half profit rises 31% despite sliding trading</li><li>Hong Kong /: Hong Kong families now have fewer than one child each on average, survey shows</li></ul>

Green power /Analysis: China’s updated green power market guidelines set to drive interprovincial tradingHKEX /: HKEX first half profit rises 31% despite sliding tradingHong Kong /: Hong Kong families now have fewer than one child each on average, survey shows

CX Daily: China’s Updated Green Power Market Guidelines Set to Drive Interprovincial Trading

<ul><li>Flood /Cover Story: How a 140-year flood caught Beijing and nearby cities off guard</li><li>FDI /Chart of the Day: Foreign investment in China tumbles on overseas headwinds</li><li>Economy /Chinese economic officials at pains to tout efficacy of recovery stimulus</li></ul>

Flood /Cover Story: How a 140-year flood caught Beijing and nearby cities off guardFDI /Chart of the Day: Foreign investment in China tumbles on overseas headwindsEconomy /Chinese economic officials at pains to tout efficacy of recovery stimulus

CX Daily: How a 140-Year Flood Caught Beijing and Nearby Cities Off Guard

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 monthly Shanghai/Shenzhen northbound Connect flows with our data engine.</li>
<li>Consumer Discretionary (inflows of $2,146 million), Financials (inflows of $1,619 million), Consumer Staples (inflows of $1,100 million) led the inflows while led the outflows.</li>
<li>We highlight flows for Moutai, CATL, BYD, Wuliangye, East Money, Haitian Flavoring, Luxshare, Longi Green, Wus Printed, Yonyou Network.</li>
</ul>


We analyze the monthly Shanghai/Shenzhen northbound Connect flows with our data engine.
Consumer Discretionary (inflows of $2,146 million), Financials (inflows of $1,619 million), Consumer Staples (inflows of $1,100 million) led the inflows while led the outflows.
We highlight flows for Moutai, CATL, BYD, Wuliangye, East Money, Haitian Flavoring, Luxshare, Longi Green, Wus Printed, Yonyou Network.


Northbound Flows Monthly (July): $7.3bn Inflows

China

Contemporary Amperex Technology Co., Limited. operates as a battery products manufacturing company. The Company produces and sells power battery materials, energy storage batteries energy storage battery cells, systems, and other products. Contemporary Amperex Technology also provides batteries recycling services.

Contemporary Amperex Technology (CATL) (300750 CH)

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Contemporary Amperex Technology (CATL) (300750 CH)

[Blue Lotus Sector Update]: Is There a Good Capacity War from China?

Capacity addition is a long-term problem. But we don’t think overcapacity is an issue now. Capacity investment in upgrading technology is a plus....

Blue Lotus Research Institute

China TMT Update-Luckin/CATL/LI/700.HK:HoK Crisis;Coffee Price War Continue; Shenxing Battery

Luckin Coffee: Price war continue and competition in low tier cities expansion intensified;CATL/ LI: CATL unveils Shenxing Battery ( + / +);700.HK:...

Blue Lotus Research Institute

CX Daily: China’s Updated Green Power Market Guidelines Set to Drive Interprovincial Trading

Green power /Analysis: China’s updated green power market guidelines set to drive interprovincial trading HKEX /: HKEX first half profit rises 31%...

Caixin Global

CX Daily: How a 140-Year Flood Caught Beijing and Nearby Cities Off Guard

Flood /Cover Story: How a 140-year flood caught Beijing and nearby cities off guard FDI /Chart of the Day: Foreign investment in China tumbles on...

Caixin Global

Northbound Flows Monthly (July): $7.3bn Inflows

We analyzed the Shanghai/Shenzhen Connect Scheme for July and highlight flows for Moutai, CATL, BYD, Wuliangye, East Money, Haitian Flavoring,...

Ke Yan, CFA, FRM

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52-week Range

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