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>700 HK: Tencent has announced a new SLG mobile game titled &lt;Civilization Mobile&gt;（+）</li>
<li>BABA: Alibaba launches new AI tool targeting content creation for merchants (+)</li>
<li>BILI: Source suggested that Bilibili will establish a new game development department.(/)</li>
</ul>


700 HK: Tencent has announced a new SLG mobile game titled &lt;Civilization Mobile&gt;（+）
BABA: Alibaba launches new AI tool targeting content creation for merchants (+)
BILI: Source suggested that Bilibili will establish a new game development department.(/)


[Blue Lotus Daily - TMT Update]:700 HK/BABA/BILI

<ul>
<li>Gaming sector: NPPA deleted the page of &lt;Online Games Governing Measure (Opinion Seeking Draft)&gt;(/)</li>
<li>JD/BABA/PDD: JD to be exclusive platform for CCTV 2024 Spring Festival Gala (+/-/-)</li>
<li>PDD/BABA/AMZN : Temu to launch semi-managed model in March (+/-/-)</li>
</ul>


Gaming sector: NPPA deleted the page of &lt;Online Games Governing Measure (Opinion Seeking Draft)&gt;(/)
JD/BABA/PDD: JD to be exclusive platform for CCTV 2024 Spring Festival Gala (+/-/-)
PDD/BABA/AMZN : Temu to launch semi-managed model in March (+/-/-)


[Blue Lotus Daily - TMT Update]:Gaming Sector/JD/BABA/PDD/BABA/AMZN

<ul>
<li>700HK/ NTES/ BILI:  The NPPA has released a draft for public opinion on the &lt;Internet Game Governing Measures&gt;(-/-/-)</li>
<li>700HK/ NTES/ 002624CH/ 300299CH/ BILI:NPPA Announced December Imported Game Code Approvals(////+/+/+)</li>
<li>AMAZ/ SHEIN/ TEMU: Local merchants reportedly unhappy with some new AI features on Amazon (-/+/+)</li>
</ul>


700HK/ NTES/ BILI:  The NPPA has released a draft for public opinion on the &lt;Internet Game Governing Measures&gt;(-/-/-)
700HK/ NTES/ 002624CH/ 300299CH/ BILI:NPPA Announced December Imported Game Code Approvals(////+/+/+)
AMAZ/ SHEIN/ TEMU: Local merchants reportedly unhappy with some new AI features on Amazon (-/+/+)


[Blue Lotus Daily - TMT Update]: 700 HK/NTES/BILI/002624 CH/300299 CH/3690 HK/AMZN/PDD/Shein

Equity Bottom-Up

<ul>
<li>We view both Weixin Video Account (WVA) and Douyin China as secondary assets to their respective parents, which in our view, may lead to them forming...(TBC) </li>
<li>However, rising competition in the short-play (短剧) market may put the two businesses in more direct confrontation, which may delay or diminish the chance for two to work together;</li>
<li>We view Tencent as the likely winner in the continuing evolution of short video as it considers various options to maximize the value of WVA traffic.</li>
</ul>


We view both Weixin Video Account (WVA) and Douyin China as secondary assets to their respective parents, which in our view, may lead to them forming...(TBC) 
However, rising competition in the short-play (短剧) market may put the two businesses in more direct confrontation, which may delay or diminish the chance for two to work together;
We view Tencent as the likely winner in the continuing evolution of short video as it considers various options to maximize the value of WVA traffic.


[Blue Lotus Sector Update]: Latest Developments in Short Video Point to Possibilities

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.

<ul>
<li>PDD’s market cap has exceeded Alibaba’s due to PDD’s overseas performance and price sensitive consumers.</li>
<li>Great Wall Motor plans to enter eight countries in Europe to bypass the investigation on Chinese export subsidies.</li>
<li>ByteDance plans to close its game subsidy and, 2,000 employees may lose their jobs.</li>
</ul>


PDD’s market cap has exceeded Alibaba’s due to PDD’s overseas performance and price sensitive consumers.
Great Wall Motor plans to enter eight countries in Europe to bypass the investigation on Chinese export subsidies.
ByteDance plans to close its game subsidy and, 2,000 employees may lose their jobs.


China Consumption Weekly (4 Dec 2023): PDD, Alibaba, AliHealth, Great Wall Motor, ByteDance

China

Bilibili Inc. provides online entertainment services. The Company offers a platform that covers a wide array of genres and media formats, including videos, live broadcasting, mobile games, animation, and comics. Bilibili serves customers in China.

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Bilibili (BILI US)

[Blue Lotus Daily - TMT Update]:700 HK/BABA/BILI

Tencent has announced a new SLG mobile game titled ;Alibaba launches new AI tool ;Source suggested that Bilibili will establish a new game...

Blue Lotus Research Institute

[Blue Lotus Daily - TMT Update]:Gaming Sector/JD/BABA/PDD/BABA/AMZN

NPPA deletes online gaming measure page; JD becomes exclusive platform for CCTV Gala; Temu to launch semi-managed model in March.

Blue Lotus Research Institute

[Blue Lotus Daily - TMT Update]: 700 HK/NTES/BILI/002624 CH/300299 CH/3690 HK/AMZN/PDD/Shein

The NPPA seeks public opinion on internet game regulations, while imported game code approvals are announced. Local merchants express discontent...

Blue Lotus Research Institute

[Blue Lotus Sector Update]: Latest Developments in Short Video Point to Possibilities

The competition in the short-play market may hinder the collaboration between Weixin Video Account and Douyin China, but Tencent is expected to...

Blue Lotus Research Institute

China Consumption Weekly (4 Dec 2023): PDD, Alibaba, AliHealth, Great Wall Motor, ByteDance

PDD’s market cap has exceeded Alibaba’s. Great Wall Motor plans to enter eight countries in Europe. ByteDance plans to close its game subsidy.

Ming Lu

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

[Blue Lotus Daily - TMT Update]:700 HK/BABA/BILI

Tencent has announced a new SLG mobile game titled ;Alibaba launches new AI tool ;Source suggested that Bilibili will establish a new game...

Blue Lotus Research Institute

[Blue Lotus Daily - TMT Update]:Gaming Sector/JD/BABA/PDD/BABA/AMZN

​NPPA deletes online gaming measure page; JD becomes exclusive platform for CCTV Gala; Temu to launch semi-managed model in March.

Blue Lotus Research Institute

[Blue Lotus Daily - TMT Update]: 700 HK/NTES/BILI/002624 CH/300299 CH/3690 HK/AMZN/PDD/Shein

​The NPPA seeks public opinion on internet game regulations, while imported game code approvals are announced. Local merchants express discontent...

Blue Lotus Research Institute

[Blue Lotus Sector Update]: Latest Developments in Short Video Point to Possibilities

​The competition in the short-play market may hinder the collaboration between Weixin Video Account and Douyin China, but Tencent is expected to...

Blue Lotus Research Institute

China Consumption Weekly (4 Dec 2023): PDD, Alibaba, AliHealth, Great Wall Motor, ByteDance

PDD’s market cap has exceeded Alibaba’s. Great Wall Motor plans to enter eight countries in Europe. ByteDance plans to close its game subsidy.

Ming Lu

NPPA deletes online gaming measure page; JD becomes exclusive platform for CCTV Gala; Temu to launch semi-managed model in March.

The NPPA seeks public opinion on internet game regulations, while imported game code approvals are announced. Local merchants express discontent...

The competition in the short-play market may hinder the collaboration between Weixin Video Account and Douyin China, but Tencent is expected to...