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: Based on &lt;DnF Mobile&gt; Developer Nexon's 2Q24 Financial Report, the Game Generated around RMB 7bn in Revenue During the Quarter (+)</li>
<li>700 HK: &lt;League of Legends&gt; to Introduce Another PVE Game Mode (+)</li>
<li>BILI US: Bilibili's &lt;Aether Gazer&gt; to Shut Down on November 12 (/)</li>
</ul>


700 HK: Based on &lt;DnF Mobile&gt; Developer Nexon's 2Q24 Financial Report, the Game Generated around RMB 7bn in Revenue During the Quarter (+)
700 HK: &lt;League of Legends&gt; to Introduce Another PVE Game Mode (+)
BILI US: Bilibili's &lt;Aether Gazer&gt; to Shut Down on November 12 (/)


[Blue Lotus Daily-TMT Update]:700 HK/BILI US/BABA US/PDD US/JD/3690HK/ZTO/1519HK/2352 CH/SHEIN/TCOM

Analyst - Media&Entertainment Sector, Blue Lotus Research Institute

Stan Zhao

Analyst - Media&Entertainment Sector

<ul>
<li>Tencent's <em>&lt;LoLM&gt;</em> shows strong performance after anniversary event, reaching as high as No. 2 on the iOS Grossing Chart with strong player spending sentiment</li>
<li>NetEase's &lt;Justice Mobile&gt; grossing rank continues to decline due to the game's lifecycle, slightly lowering expectations. &lt;Naraka: Bladepoint Mobile&gt; revenue performance is stabilizing, with annual grossing expected around RMB 10bn</li>
<li>Bilibili's <em>&lt;FGO&gt;</em> shows a strong revenue trend, currently in the top 20 on the iOS Grossing Chart, slightly raising expectations</li>
</ul>


Tencent's &lt;LoLM&gt; shows strong performance after anniversary event, reaching as high as No. 2 on the iOS Grossing Chart with strong player spending sentiment
NetEase's &lt;Justice Mobile&gt; grossing rank continues to decline due to the game's lifecycle, slightly lowering expectations. &lt;Naraka: Bladepoint Mobile&gt; revenue performance is stabilizing, with annual grossing expected around RMB 10bn
Bilibili's &lt;FGO&gt; shows a strong revenue trend, currently in the top 20 on the iOS Grossing Chart, slightly raising expectations


Online Game Monitor: July 29-August 13, 2024

<ul>
<li>BABA US/PDD US/JD US: Douyin launches new merchant tool designed to avoid low-price competition (+/+/+)</li>
<li>BABA US/JD US: JD strategy change to focus on beauty products (-/+)</li>
<li>BABA US: Freshippo launches self-branded products on the Lazada. (/)</li>
</ul>


BABA US/PDD US/JD US: Douyin launches new merchant tool designed to avoid low-price competition (+/+/+)
BABA US/JD US: JD strategy change to focus on beauty products (-/+)
BABA US: Freshippo launches self-branded products on the Lazada. (/)


[Blue Lotus Daily-TMT Update]:BABA US/PDD US/JD US/3690 HK/700 HK/BILI US

<ul>
<li>BILI US: Bilibili's &lt;Three Kingdoms: MDTX&gt; Shows Significant Grossing Ranking Rebound After Season 2 Update (+)</li>
<li>TCOM US:Beijing's tourist arrivals increased by 16.7% YoY in July (+)</li>
<li>TCOM US: Amap Launches Airport Shuttle Service in Hong Kong (-)</li>
</ul>


BILI US: Bilibili's &lt;Three Kingdoms: MDTX&gt; Shows Significant Grossing Ranking Rebound After Season 2 Update (+)
TCOM US:Beijing's tourist arrivals increased by 16.7% YoY in July (+)
TCOM US: Amap Launches Airport Shuttle Service in Hong Kong (-)


[Blue Lotus Daily-TMT Update]:BILIUS/TCOMUS/SEUS/PDDUS/4689JP/4385JP/BABAUS/3690HK/JDUS/700HK/NTESUS

<ul>
<li>Tencent's game performance was mixed. &lt;DnF Mobile&gt; continued to perform well, with popularity increasing after the summer update. &lt;Peacekeeper Elite&gt; saw a natural decline due to the game's lifespan.</li>
<li>NetEase's &lt;Naraka Mobile&gt; launched on July 25 and showed an impressive performance with a large influx of players. It is expected to be a blockbuster with billions in annual grossing</li>
<li>Bilibili's &lt;FGO&gt; surged to fifth place on the grossing chart after its anniversary event, demonstrating the strong spending enthusiasm and loyalties of players for this nearly decade-old game.</li>
</ul>


Tencent's game performance was mixed. &lt;DnF Mobile&gt; continued to perform well, with popularity increasing after the summer update. &lt;Peacekeeper Elite&gt; saw a natural decline due to the game's lifespan.
NetEase's &lt;Naraka Mobile&gt; launched on July 25 and showed an impressive performance with a large influx of players. It is expected to be a blockbuster with billions in annual grossing
Bilibili's &lt;FGO&gt; surged to fifth place on the grossing chart after its anniversary event, demonstrating the strong spending enthusiasm and loyalties of players for this nearly decade-old game.


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/BILI US/BABA US/PDD US/JD/3690HK/ZTO/1519HK/2352 CH/SHEIN/TCOM

Nexon's <dnf mobile> game generates RMB 7bn, League of Legends adds new PVE mode, Bilibili's <aether gazer> shutting down on November 12.<...

Blue Lotus Research Institute

Online Game Monitor: July 29-August 13, 2024

Tencent's <lolm> excels in post-anniversary events, NetEase's <justice mobile> declines and Bilibili's <fgo> sees strong revenue growth.</fgo><...

Blue Lotus Research Institute

[Blue Lotus Daily-TMT Update]:BABA US/PDD US/JD US/3690 HK/700 HK/BILI US

Chinese e-commerce giants are implementing new strategies to combat low-price competition and focus on beauty products, with Freshippo launching...

Blue Lotus Research Institute

[Blue Lotus Daily-TMT Update]:BILIUS/TCOMUS/SEUS/PDDUS/4689JP/4385JP/BABAUS/3690HK/JDUS/700HK/NTESUS

Bilibili's <three mdtx kingdoms:=""> sees ranking rebound, Beijing tourist arrivals up 16.7% YoY in July, Amap launches airport shuttle in Hong...

Blue Lotus Research Institute

Online Game Monitor: July 15-29, 2024

Tencent's games have mixed performance, NetEase's <naraka mobile> shows performance and Bilibili's climbed the grossing chart after the...

Blue Lotus Research Institute

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

[Blue Lotus Daily-TMT Update]:700 HK/BILI US/BABA US/PDD US/JD/3690HK/ZTO/1519HK/2352 CH/SHEIN/TCOM

​Nexon's <dnf mobile> game generates RMB 7bn, League of Legends adds new PVE mode, Bilibili's <aether gazer> shutting down on November 12.<...

Blue Lotus Research Institute

Online Game Monitor: July 29-August 13, 2024

​Tencent's <lolm> excels in post-anniversary events, NetEase's <justice mobile> declines and Bilibili's <fgo> sees strong revenue growth.</fgo><...

Blue Lotus Research Institute

[Blue Lotus Daily-TMT Update]:BABA US/PDD US/JD US/3690 HK/700 HK/BILI US

​Chinese e-commerce giants are implementing new strategies to combat low-price competition and focus on beauty products, with Freshippo launching...

Blue Lotus Research Institute

[Blue Lotus Daily-TMT Update]:BILIUS/TCOMUS/SEUS/PDDUS/4689JP/4385JP/BABAUS/3690HK/JDUS/700HK/NTESUS

​Bilibili's <three mdtx kingdoms:=""> sees ranking rebound, Beijing tourist arrivals up 16.7% YoY in July, Amap launches airport shuttle in Hong...

Blue Lotus Research Institute

Online Game Monitor: July 15-29, 2024

​Tencent's games have mixed performance, NetEase's <naraka mobile> shows performance and Bilibili's climbed the grossing chart after the...

Blue Lotus Research Institute

Nexon's <dnf mobile> game generates RMB 7bn, League of Legends adds new PVE mode, Bilibili's <aether gazer> shutting down on November 12.<...

Tencent's <lolm> excels in post-anniversary events, NetEase's <justice mobile> declines and Bilibili's <fgo> sees strong revenue growth.</fgo><...

Chinese e-commerce giants are implementing new strategies to combat low-price competition and focus on beauty products, with Freshippo launching...

Bilibili's <three mdtx kingdoms:=""> sees ranking rebound, Beijing tourist arrivals up 16.7% YoY in July, Amap launches airport shuttle in Hong...

Tencent's games have mixed performance, NetEase's <naraka mobile> shows performance and Bilibili's climbed the grossing chart after the...