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>BABA/1801 HK: Taobao officially starts the development of native HarmonyOS applications, accelerating the mobile ecosystem to de-Androidize (+/-)</li>
<li>NTES/700 HK: The first batch of game version numbers announced in 2024 once again exceeded 100 (-/+)</li>
<li>BABA/700 HK/BIDU: The U.S. Commerce Department requires U.S. cloud companies to deny access to foreign entities, which is favorable for Alibaba Cloud, Tencent Cloud, and Baidu Cloud</li>
</ul>


BABA/1801 HK: Taobao officially starts the development of native HarmonyOS applications, accelerating the mobile ecosystem to de-Androidize (+/-)
NTES/700 HK: The first batch of game version numbers announced in 2024 once again exceeded 100 (-/+)
BABA/700 HK/BIDU: The U.S. Commerce Department requires U.S. cloud companies to deny access to foreign entities, which is favorable for Alibaba Cloud, Tencent Cloud, and Baidu Cloud


[Blue Lotus Daily - TMT Update]:BABA/1801 HK/NTES/700 HK/BIDU

Overseas Chinese Equities, Aequitas Research

Ming Lu

Overseas Chinese Equities

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 Bottom-Up

Alibaba Group Holding  / Equity Bottom-Up

<ul>
<li>Alibaba Changed its Tmall Taobao business unit from three centers to six departments.</li>
<li>We believe the change means Alibaba is moving its focus from cost cut to revenue growth.</li>
<li>We set the stock upside at 26% and the price target at HK$91. Buy.</li>
</ul>


Alibaba Changed its Tmall Taobao business unit from three centers to six departments.
We believe the change means Alibaba is moving its focus from cost cut to revenue growth.
We set the stock upside at 26% and the price target at HK$91. Buy.


Alibaba (9988 HK) 3Q24 Earnings Preview: Could Be Unimpressive, But Just Reorganized Main Business

Equity Capital Markets

<ul>
<li>We believe Mixue’s low prices are fit for the current weak economy.</li>
<li>Any “freshly made” price lower than Mixue’s will compete with bottled drinks.</li>
<li>We also believe low rental is the key for Mixue’s low prices.</li>
</ul>


We believe Mixue’s low prices are fit for the current weak economy.
Any “freshly made” price lower than Mixue’s will compete with bottled drinks.
We also believe low rental is the key for Mixue’s low prices.


Mixue Pre-IPO: Reliable Price Advantage – An On-The-Ground Viewpoint

Asian Equities Analyst, Logistics & Transport, Tracking Traffic

Daniel Hellberg

Asian Equities Analyst, Logistics & Transport

Tracking Traffic

Focusing on Asian logistics, transportation, and travel companies

<ul>
<li>December: strong volume growth, but worsening price declines for STO, Yunda</li>
<li>Recent trends in X-border parcel volume growth &amp; pricing moderated in December</li>
<li>In 2024, look for SF to continue its outpeformance; STO, Yunda should still lag</li>
</ul>


December: strong volume growth, but worsening price declines for STO, Yunda
Recent trends in X-border parcel volume growth &amp; pricing moderated in December
In 2024, look for SF to continue its outpeformance; STO, Yunda should still lag


Monthly Chinese Express Tracker | Volumes Remain Firm | Domestic Pricing Worsens (January 2024)

<ul>
<li>Great Wall Motor’s revenue increased by 26%, but its profit increased by less than 5% in 2023.</li>
<li>Huawei’s shipments increased 36% YoY in 4Q23 and was the only company to witness an increase among the top five sellers.</li>
<li>Jack Ma, the founder, and Mr. Joe Tsai, the chairman, purchased Alibaba’s shares.</li>
</ul>


Great Wall Motor’s revenue increased by 26%, but its profit increased by less than 5% in 2023.
Huawei’s shipments increased 36% YoY in 4Q23 and was the only company to witness an increase among the top five sellers.
Jack Ma, the founder, and Mr. Joe Tsai, the chairman, purchased Alibaba’s shares.


China Consumption Weekly (29 Jan 2024): Great Wall Motor, Huawei, Alibaba, Mixue, Nayuki

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 (BABA US)

[Blue Lotus Daily - TMT Update]:BABA/1801 HK/NTES/700 HK/BIDU

Taobao begins developing HarmonyOS apps, reducing reliance on Android. Game code for 2024 surpass 100. US Commerce Department's decision benefits...

Blue Lotus Research Institute

Alibaba (9988 HK) 3Q24 Earnings Preview: Could Be Unimpressive, But Just Reorganized Main Business

Alibaba Changed its Tmall Taobao business unit from three centers to six departments. We believe the change means Alibaba is moving its focus from...

Ming Lu

Mixue Pre-IPO: Reliable Price Advantage – An On-The-Ground Viewpoint

We believe Mixue’s low prices are fit for the current weak economy. A “freshly made” price lower than Mixue’s will compete with bottled drinks. We...

Ming Lu

Monthly Chinese Express Tracker | Volumes Remain Firm | Domestic Pricing Worsens (January 2024)

Industry volume growth remains firm, but price pressure on domestic 'sort and transport' companies continued to increase in December. We expect SF...

Tracking Traffic

China Consumption Weekly (29 Jan 2024): Great Wall Motor, Huawei, Alibaba, Mixue, Nayuki

Great Wall Motor’s revenue increased by 26%, but its profit increased by less than 5% in 2023. Huawei shipment increased by 36% YoY in 4Q23. The...

Ming Lu

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

[Blue Lotus Daily - TMT Update]:BABA/1801 HK/NTES/700 HK/BIDU

​Taobao begins developing HarmonyOS apps, reducing reliance on Android. Game code for 2024 surpass 100. US Commerce Department's decision benefits...

Blue Lotus Research Institute

Alibaba (9988 HK) 3Q24 Earnings Preview: Could Be Unimpressive, But Just Reorganized Main Business

Alibaba Changed its Tmall Taobao business unit from three centers to six departments. We believe the change means Alibaba is moving its focus from...

Ming Lu

Mixue Pre-IPO: Reliable Price Advantage – An On-The-Ground Viewpoint

We believe Mixue’s low prices are fit for the current weak economy. A “freshly made” price lower than Mixue’s will compete with bottled drinks. We...

Ming Lu

Monthly Chinese Express Tracker | Volumes Remain Firm | Domestic Pricing Worsens (January 2024)

Industry volume growth remains firm, but price pressure on domestic 'sort and transport' companies continued to increase in December. We expect SF...

Tracking Traffic

China Consumption Weekly (29 Jan 2024): Great Wall Motor, Huawei, Alibaba, Mixue, Nayuki

Great Wall Motor’s revenue increased by 26%, but its profit increased by less than 5% in 2023. Huawei shipment increased by 36% YoY in 4Q23. The...

Ming Lu

Taobao begins developing HarmonyOS apps, reducing reliance on Android. Game code for 2024 surpass 100. US Commerce Department's decision benefits...