Blue Lotus Non US Internet research, Blue Lotus Research Institute

Ying Pan

Blue Lotus Non US Internet 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>PDD/BABA/JD/ZTO/2618.HK/1519.HK: Express Delivery Parcel Volume grows +48% YoY last week (+)</li>
<li>BABA/ MELI/ AMZN/ CPNG: AliExpress to introduce live streaming service abroad(+/-/-/-)</li>
<li>700.HK: Tencent's "Fight of the Golden Spatula" reach high highs with latest season content update (+)</li>
</ul>


PDD/BABA/JD/ZTO/2618.HK/1519.HK: Express Delivery Parcel Volume grows +48% YoY last week (+)
BABA/ MELI/ AMZN/ CPNG: AliExpress to introduce live streaming service abroad(+/-/-/-)
700.HK: Tencent's "Fight of the Golden Spatula" reach high highs with latest season content update (+)


[Blue Lotus Daily - TMT Update]: PDD/BABA/JD/ZTO/2618.HK/1519.HK/MELI/AMZN/CPNG/700.HK

APAC IPOs & Placements, Aequitas Research

Ethan Aw

APAC IPOs & Placements

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.

Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/ubtech-robotics-limited" target="_blank" data-smartkarma-citation="entities:36469:1" rel="noopener">UBTech Robotics (1683374D HK)</a> is looking to raise about US$700m in its upcoming HK IPO. </li>
<li>UBTech Robotics is engaged in artificial intelligence (AI)-empowered robotics in China, dedicated to the innovation of humanoid robots and development and sales of smart service robotic solutions. </li>
<li>UBTech Robotics’ sales have primarily been driven by its enterprise-level segments throughout the track record period. However, the firm is still heavily loss-making. </li>
</ul>



UBTech Robotics (1683374D HK) is looking to raise about US$700m in its upcoming HK IPO. 
UBTech Robotics is engaged in artificial intelligence (AI)-empowered robotics in China, dedicated to the innovation of humanoid robots and development and sales of smart service robotic solutions. 
UBTech Robotics’ sales have primarily been driven by its enterprise-level segments throughout the track record period. However, the firm is still heavily loss-making. 


UBTech Robotics Pre-IPO - Definitely Needs the Capital Raise

<ul>
<li>
<a href="https://www.smartkarma.com/entities/zkh-group" target="_blank" data-smartkarma-citation="entities:36818:1" rel="noopener">ZKH Group (ZKH US)</a> is looking to raise about US$300m in its upcoming US IPO.  </li>
<li>ZKH Group is a leading maintenance repair and operations (MRO) procurement service platform in China, according to CIC, providing one-stop MRO procurement and management services and digital and fulfillment solutions.</li>
<li>ZKH Group’s revenue has been primarily driven by its product sales segment during the track record period. However, its GMV growth slowed dramatically and its sales growth doesn’t appear sustainable. </li>
</ul>



ZKH Group (ZKH US) is looking to raise about US$300m in its upcoming US IPO.  
ZKH Group is a leading maintenance repair and operations (MRO) procurement service platform in China, according to CIC, providing one-stop MRO procurement and management services and digital and fulfillment solutions.
ZKH Group’s revenue has been primarily driven by its product sales segment during the track record period. However, its GMV growth slowed dramatically and its sales growth doesn’t appear sustainable. 


ZKH Group Pre-IPO - If Only Its Growth Was Sustainable

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

REPT BATTERO Energy / Equity Capital Markets

<ul>
<li>REPT BATTERO Energy (REPT HK) is looking to raise US$1bn in its upcoming Hong Kong IPO. </li>
<li>REPT BATTERO Energy (REPT) is a lithium-ion battery manufacturer in China, focusing on R&amp;D, production, and sales of EV/ESS lithium-ion battery products such as battery cells, modules and packs. </li>
<li>In this note, we will talk about the positive aspects of the deal.</li>
</ul>


REPT BATTERO Energy (REPT HK) is looking to raise US$1bn in its upcoming Hong Kong IPO. 
REPT BATTERO Energy (REPT) is a lithium-ion battery manufacturer in China, focusing on R&amp;D, production, and sales of EV/ESS lithium-ion battery products such as battery cells, modules and packs. 
In this note, we will talk about the positive aspects of the deal.


REPT BATTERO Energy Pre-IPO - The Positives - Has Scaled Rapidly

Overseas Chinese Equities, Aequitas Research

Ming Lu

Overseas Chinese Equities

Equity Bottom-Up

<ul>
<li>The stock has been declining for about three years and plummeted after the 3Q23 results.</li>
<li>However, we believe MT and its corporate clients have been recovering and MT’s profits will rise by 129% in 2024.</li>
<li>We set an upside of 132% and a price target of HK$209 for 2024. Buy.</li>
</ul>


The stock has been declining for about three years and plummeted after the 3Q23 results.
However, we believe MT and its corporate clients have been recovering and MT’s profits will rise by 129% in 2024.
We set an upside of 132% and a price target of HK$209 for 2024. Buy.


2024 High Conviction: Meituan / MT (3690 HK) - Big Opportunity Emerging After Plunge

China

Alibaba Group Holding Limited provides online sales services. The Company provides internet infrastructure, electronic commerce, online financial, and internet content services through its subsidiaries. Alibaba Group Holding offers its products and services worldwide.

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Alibaba Group Holding (9988 HK)

[Blue Lotus Daily - TMT Update]: PDD/BABA/JD/ZTO/2618.HK/1519.HK/MELI/AMZN/CPNG/700.HK

Express delivery parcel volume grew by 48% YoY, AliExpress plans to introduce live streaming service abroad, and Tencent's "Fight of the Golden...

Blue Lotus Research Institute

UBTech Robotics Pre-IPO - Definitely Needs the Capital Raise

UBTech Robotics has filed their PHIP updates in Dec 23. We have looked at the deal earlier in this note in Mar 23 based on their application proof.

Ethan Aw

ZKH Group Pre-IPO - If Only Its Growth Was Sustainable

ZKH has refiled its prospectus on 27th Nov 23 and downsized the deal from a reported US$300m in Mar 23 to US$100-150m in Nov 23. We have looked at...

Ethan Aw

REPT BATTERO Energy Pre-IPO - The Positives - Has Scaled Rapidly

The company has just filed its PHIP and is said to be looking to raise around US$300m in its Hong Kong IPO. We had looked at the company's past...

Sumeet Singh

2024 High Conviction: Meituan / MT (3690 HK) - Big Opportunity Emerging After Plunge

The stock has been declining for three years and plummeted after the 3Q23 results. However, we believe MT and its corporate clients have been...

Ming Lu

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

[Blue Lotus Daily - TMT Update]: PDD/BABA/JD/ZTO/2618.HK/1519.HK/MELI/AMZN/CPNG/700.HK

​Express delivery parcel volume grew by 48% YoY, AliExpress plans to introduce live streaming service abroad, and Tencent's "Fight of the Golden...

Blue Lotus Research Institute

UBTech Robotics Pre-IPO - Definitely Needs the Capital Raise

UBTech Robotics has filed their PHIP updates in Dec 23. We have looked at the deal earlier in this note in Mar 23 based on their application proof.

Ethan Aw

ZKH Group Pre-IPO - If Only Its Growth Was Sustainable

ZKH has refiled its prospectus on 27th Nov 23 and downsized the deal from a reported US$300m in Mar 23 to US$100-150m in Nov 23. We have looked at...

Ethan Aw

REPT BATTERO Energy Pre-IPO - The Positives - Has Scaled Rapidly

The company has just filed its PHIP and is said to be looking to raise around US$300m in its Hong Kong IPO. We had looked at the company's past...

Sumeet Singh

2024 High Conviction: Meituan / MT (3690 HK) - Big Opportunity Emerging After Plunge

The stock has been declining for three years and plummeted after the 3Q23 results. However, we believe MT and its corporate clients have been...

Ming Lu

Express delivery parcel volume grew by 48% YoY, AliExpress plans to introduce live streaming service abroad, and Tencent's "Fight of the Golden...