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>BYD/CATL: Renewed effort of German carmakers in EV positive to Chinese battery makers</li>
<li>700HK: Tencent’s management said “Hunyuan” LLM will be launched within this month(+)</li>
<li>NetEase's "Eggy Party" announced that they reached over 100 mn MAUs and surpassing 100 mn UGC maps. (+)</li>
</ul>


BYD/CATL: Renewed effort of German carmakers in EV positive to Chinese battery makers
700HK: Tencent’s management said “Hunyuan” LLM will be launched within this month(+)
NetEase's "Eggy Party" announced that they reached over 100 mn MAUs and surpassing 100 mn UGC maps. (+)


China TMT Update-BYD/CATL/700HK/NTES-“Hunyuan” LLM Will Be Launched/"Eggy Party" Reached 100 Mn MAUs

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>We estimate the outflows to be $12.8bn in August and consumer staples, and financials sectors led the outflows.</li>
<li>We highlight flows for CATL, Wuxi Wapptec, Fuyao Glass, Foxconn Industrial, CMB, Wuliangye, Mindray, Moutai, Longi Green.</li>
</ul>


We analyze the monthly Shanghai/Shenzhen northbound Connect flows with our data engine.
We estimate the outflows to be $12.8bn in August and consumer staples, and financials sectors led the outflows.
We highlight flows for CATL, Wuxi Wapptec, Fuyao Glass, Foxconn Industrial, CMB, Wuliangye, Mindray, Moutai, Longi Green.


Northbound Flows Monthly (August): $12.8bn Outflows

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>Country Garden /Cover Story: Clock ticking on Country Garden’s debt bomb</li><li>Tax /: China extends tax incentives by two years to bolster housing market</li><li>Housing /: Li Auto’s first pure EV to use CATL’s fast-charging batteries</li></ul>

Country Garden /Cover Story: Clock ticking on Country Garden’s debt bombTax /: China extends tax incentives by two years to bolster housing marketHousing /: Li Auto’s first pure EV to use CATL’s fast-charging batteries

CX Daily: Clock Ticking on Country Garden’s Debt Bomb

<ul>
<li>BGNE: Roche announced positive result for its TIGIT treating NSCLC, overturning negative result for treating EC-SCLC (/)</li>
<li>300274CH/300750CH/1211HK: Customs data shows Chinese exports of key renewable energy items decelerated</li>
<li>JD/2618.HK: Estimates for the cost of JD lowering the threshold to receive free shipping (-/+)</li>
</ul>


BGNE: Roche announced positive result for its TIGIT treating NSCLC, overturning negative result for treating EC-SCLC (/)
300274CH/300750CH/1211HK: Customs data shows Chinese exports of key renewable energy items decelerated
JD/2618.HK: Estimates for the cost of JD lowering the threshold to receive free shipping (-/+)


China TMT Update-BGNE/300274CH/300750CH/1211HK/JD/ 2618.HK-JD Lowering the Threshold to Free Shipping

<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?

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)

China TMT Update-BYD/CATL/700HK/NTES-“Hunyuan” LLM Will Be Launched/"Eggy Party" Reached 100 Mn MAUs

German carmakers in EV positive to Chinese battery makers;700HK: “Hunyuan” LLM will be launched within this month(+);NetEase's "Eggy Party"...

Blue Lotus Research Institute

Northbound Flows Monthly (August): $12.8bn Outflows

We analyzed the Shanghai/Shenzhen Connect Scheme for August and highlight flows for CATL, Wuxi Wapptec, Fuyao Glass, Foxconn Industrial, CMB,...

Ke Yan, CFA, FRM

CX Daily: Clock Ticking on Country Garden’s Debt Bomb

Country Garden /Cover Story: Clock ticking on Country Garden’s debt bomb Tax /: China extends tax incentives by two years to bolster housing...

Caixin Global

China TMT Update-BGNE/300274CH/300750CH/1211HK/JD/ 2618.HK-JD Lowering the Threshold to Free Shipping

Estimates for the cost of JD lowering the threshold to receive free shipping; Chinese exports of key renewable energy items decelerated;Roche...

Blue Lotus Research Institute

[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

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52-week Range

Market Cap (USDm)

P/E

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