Blue Lotus China New Economy Research, Blue Lotus Research Institute

Eric Wen

Blue Lotus China New Economy 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>Since the US started sanctioning Huawei in 2017, the China tech giant has maneuvered into many new fields. This time, its HIMA (Huawei Intelligent Mobility Alliance) is showing renewed momentum;</li>
<li>China is the greatest EV market in the world. But what is being masked in the robust growth is the divergence between BEV and PHEV, and Huawei's role in PHEV;</li>
<li>We expect the trend to continue as Chery, JAC and BAIC will launch their HIMA models in 2025. Most importantly, these vendors gain share in the mid-to-high price segments.</li>
</ul>


Since the US started sanctioning Huawei in 2017, the China tech giant has maneuvered into many new fields. This time, its HIMA (Huawei Intelligent Mobility Alliance) is showing renewed momentum;
China is the greatest EV market in the world. But what is being masked in the robust growth is the divergence between BEV and PHEV, and Huawei's role in PHEV;
We expect the trend to continue as Chery, JAC and BAIC will launch their HIMA models in 2025. Most importantly, these vendors gain share in the mid-to-high price segments.


From Huawei with Vengeance: Huawei Alliance Took Shares in Chinese EV

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

<ul>
<li>Our outlook remains neutral on global equities (MSCI ACWI) as of our August 8, 2024 Int’l Compass, after being bullish since early-November 2023</li>
<li>As discussed since late-July, we believe we're still within a 4- to 6-month pullback/consolidation from our selected July 17 starting point, until the market decides which was this consolidation resolves </li>
<li>TOPIX is below 2740-2820 resistance. Europe is testing resistance, though near potential breakouts on the EURO STOXX 50, STOXX Europe 600, and STOXX Europe 50. Watch for false breakouts</li>
</ul>


Our outlook remains neutral on global equities (MSCI ACWI) as of our August 8, 2024 Int’l Compass, after being bullish since early-November 2023
As discussed since late-July, we believe we're still within a 4- to 6-month pullback/consolidation from our selected July 17 starting point, until the market decides which was this consolidation resolves 
TOPIX is below 2740-2820 resistance. Europe is testing resistance, though near potential breakouts on the EURO STOXX 50, STOXX Europe 600, and STOXX Europe 50. Watch for false breakouts


Japan and Europe Holding Below Resistance; MSCI ACWI, ACWI Ex-US, EAFE (Local Curr) Below Resistance

<ul>
<li>BEKE US/BZ US/ATAT US/3690 HK/TCOM US:September Politburo Meeting Unusually Discusses Economic Topics, bodes well for catering and tourism consumption, Employment, and Real Estate(+)</li>
<li>2618 HK/002352 CH: JD and Alibaba reconcile, JD Logistics to launch on Taobao and Alipay to launch on JD.com (+/-)</li>
<li>NIO US: NIO Lowers Battery Swap Service Fees to Encourage Frequent Battery Swaps(-)</li>
</ul>


BEKE US/BZ US/ATAT US/3690 HK/TCOM US:September Politburo Meeting Unusually Discusses Economic Topics, bodes well for catering and tourism consumption, Employment, and Real Estate(+)
2618 HK/002352 CH: JD and Alibaba reconcile, JD Logistics to launch on Taobao and Alipay to launch on JD.com (+/-)
NIO US: NIO Lowers Battery Swap Service Fees to Encourage Frequent Battery Swaps(-)


[Blue Lotus Daily]:BEKE US/BZ US/ATAT US/3690 HK/TCOM US/2618 HK/002352 CH/NIO US/XPEV US/1211 HK

AI and Global Deep Tech, Mint Finance

Uttkarsh Kohli

AI and Global Deep Tech

Deep Fundamental Analysis

Mint Finance

Mint Finance's investment research blends deep fundamental analysis with technical & quant insights. Investment strategies straddle across multiple asset classes with risk management embedded into every trade to deliver an outsized reward-to-risk ratio.

Mint Finance's research is centered around three key themes. First, energy transition and climate change. Second, artificial intelligence. Third, shifting world order with its impact across politics and monetary economics.

Equity Bottom-Up

<ul>
<li>Tesla projects Q3 2024 EV sales of 460,000–470,000, reflecting 8% YoY growth, driven by high demand in China and robust Gigafactory operations. </li>
<li>The October 10 Robotaxi event will spotlight Tesla’s Full Self Driving tech, attracting intense investor interest in autonomous transportation’s future prospects. Investors eye a new cheaper Tesla model release.</li>
<li>Waymo leads the U.S. market, with 100,000+ weekly paid robotaxi trips, intensifying pressure on Tesla to match or surpass this scale in its robotaxi rollout. </li>
</ul>


Tesla projects Q3 2024 EV sales of 460,000–470,000, reflecting 8% YoY growth, driven by high demand in China and robust Gigafactory operations. 
The October 10 Robotaxi event will spotlight Tesla’s Full Self Driving tech, attracting intense investor interest in autonomous transportation’s future prospects. Investors eye a new cheaper Tesla model release.
Waymo leads the U.S. market, with 100,000+ weekly paid robotaxi trips, intensifying pressure on Tesla to match or surpass this scale in its robotaxi rollout. 


Tesla Gears Up for Game-Changing Robotaxi Event Amid EV Sales Surge

<ul>
<li>MNSO US: MINISO Acquires 29.4% Stake in Yonghui Superstores for RMB6.3 Billion, Becoming Its Largest Shareholder(-)</li>
<li>BEKE US:Stimulus monetary policies bodes well for real estate and consumption(+)</li>
<li>BEKE US:Chongqing Agency Decco Real Estate Joins Beike, Bodes Well for Market Share Gains(+)</li>
</ul>


MNSO US: MINISO Acquires 29.4% Stake in Yonghui Superstores for RMB6.3 Billion, Becoming Its Largest Shareholder(-)
BEKE US:Stimulus monetary policies bodes well for real estate and consumption(+)
BEKE US:Chongqing Agency Decco Real Estate Joins Beike, Bodes Well for Market Share Gains(+)


[Blue Lotus Daily]:MNSO US/BEKE US/LKNCY US/XPEV US / LI US/ NIO US/1211 HK/NIO US /1810 HK/

China

BYD Company Limited manufactures automotive products. The Company produces ordinary passenger cars, commercial vehicles, and other products. BYD also operates battery making, rail transportation construction, and other businesses.

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BYD (002594 CH)

From Huawei with Vengeance: Huawei Alliance Took Shares in Chinese EV

Chinese EV market was driven mostly by PHEV in 2023-24 and will continue to be so in 2025. Huawei and partners are gaining share in PHEV in mid-to...

Blue Lotus Research Institute

Japan and Europe Holding Below Resistance; MSCI ACWI, ACWI Ex-US, EAFE (Local Curr) Below Resistance

Japan and Europe Holding Below Resistance; MSCI ACWI, ACWI ex-US, and EAFE (local currency) Also Below Resistance Though Testing Now; $EEM breakout...

Vermilion Research

[Blue Lotus Daily]:BEKE US/BZ US/ATAT US/3690 HK/TCOM US/2618 HK/002352 CH/NIO US/XPEV US/1211 HK

Chinese companies discuss economic topics, JD and Alibaba reconcile for cross-platform launches, NIO lowers battery swap fees.

Blue Lotus Research Institute

Tesla Gears Up for Game-Changing Robotaxi Event Amid EV Sales Surge

Tesla hopes to reshape the autonomous vehicle landscape in the 10/10 Robotaxi event, building on its EV success. Strong Q3 24 sales projections...

Mint Finance

[Blue Lotus Daily]:MNSO US/BEKE US/LKNCY US/XPEV US / LI US/ NIO US/1211 HK/NIO US /1810 HK/

MINISO acquires majority stake in Yonghui Superstores, Beike benefits from stimulus policies and market share gains with Decco Real Estate...

Blue Lotus Research Institute

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

From Huawei with Vengeance: Huawei Alliance Took Shares in Chinese EV

Chinese EV market was driven mostly by PHEV in 2023-24 and will continue to be so in 2025. Huawei and partners are gaining share in PHEV in mid-to...

Blue Lotus Research Institute

Japan and Europe Holding Below Resistance; MSCI ACWI, ACWI Ex-US, EAFE (Local Curr) Below Resistance

Japan and Europe Holding Below Resistance; MSCI ACWI, ACWI ex-US, and EAFE (local currency) Also Below Resistance Though Testing Now; $EEM breakout...

Vermilion Research

[Blue Lotus Daily]:BEKE US/BZ US/ATAT US/3690 HK/TCOM US/2618 HK/002352 CH/NIO US/XPEV US/1211 HK

​Chinese companies discuss economic topics, JD and Alibaba reconcile for cross-platform launches, NIO lowers battery swap fees.

Blue Lotus Research Institute

Tesla Gears Up for Game-Changing Robotaxi Event Amid EV Sales Surge

Tesla hopes to reshape the autonomous vehicle landscape in the 10/10 Robotaxi event, building on its EV success. Strong Q3 24 sales projections...

Mint Finance

[Blue Lotus Daily]:MNSO US/BEKE US/LKNCY US/XPEV US / LI US/ NIO US/1211 HK/NIO US /1810 HK/

​MINISO acquires majority stake in Yonghui Superstores, Beike benefits from stimulus policies and market share gains with Decco Real Estate...

Blue Lotus Research Institute

Chinese companies discuss economic topics, JD and Alibaba reconcile for cross-platform launches, NIO lowers battery swap fees.

MINISO acquires majority stake in Yonghui Superstores, Beike benefits from stimulus policies and market share gains with Decco Real Estate...