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>BIDU/1810 HK: Samsung plans to configure Baidu Ernie large language model into Galaxy S24 (+/-)</li>
<li>1211 HK/LI/XPEV/NIO: EV Deliveries for the Fourth Week of 2024 Show Continued Recovery Across the Board(+)</li>
<li>ATAT/TCOM/3690 HK: Tourism: Traveling trips beat expectation in the first four days of “Spring Move”(+)</li>
</ul>


BIDU/1810 HK: Samsung plans to configure Baidu Ernie large language model into Galaxy S24 (+/-)
1211 HK/LI/XPEV/NIO: EV Deliveries for the Fourth Week of 2024 Show Continued Recovery Across the Board(+)
ATAT/TCOM/3690 HK: Tourism: Traveling trips beat expectation in the first four days of “Spring Move”(+)


[Blue Lotus Daily]:BIDU/1810 HK/BZ/300750 SZ/1211 HK/LI/XPEV/NIO/TCOM/ATAT/3690 HK

External broker reports(aggregated public sources), CMB International

CMB International

External broker reports(aggregated public sources)

Incorporated in Hong Kong, supported by the mainland and targeting in global market, CMB International Capital Corporation Limited (“CMBI”) is an integrated financial institution providing comprehensive and professional services. As a wholly-owned subsidiary of China Merchants Bank ("CMB"), by leveraging on the Group’s synergy and coordination in domestic and overseas markets, as well as CMB’s strong resources and outstanding social reputation, CMBI and its subsidiaries have been actively implementing diversified business strategies and set up an overall layout of main business segments including Corporate Finance, Asset Management, Wealth Management, Global Markets and Structured Finance, etc. Adhering to the philosophy of “being clients oriented and increasing our own values by the way of creating value for clients”, CMBI endeavors to provide quality and integrated financial services to institutional, corporate and individual customers both domestic and overseas including Hong Kong IPO sponsorship and underwriting, share placement and rights issue for listed companies, financial advisors, bonds issuance services, asset management, direct investment, wealth management, equity sales and trading, etc.

<ul><li>Eleven Chinese automakers including BYD, Great Wall, NIO, Xpeng, Li Auto, Zeekr, Aion, Deepal, Neta, Leap and Aito reported their Jan 2024 sales volumes on 1 Feb 2024.</li><li>Sales volume of the 11 automakers combined rose 80% YoY (ranging from +18% to +978%) on low a base (Chinese New Year (CNY) in Jan 2023)) and fell 34% MoM (ranging from -59% to +95%) in Jan 2024.</li><li>Xpeng fell most MoM. Li Auto’s deliveries rose 106% YoY and fell 38% MoM to about 31,000 units in Jan 2024, in line with its weekly insurance data. Li Auto’s monthly deliveries were surpassed by Aito by about 1,800 units last month, the first time since Nov 2022.</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Eleven Chinese automakers including BYD, Great Wall, NIO, Xpeng, Li Auto, Zeekr, Aion, Deepal, Neta, Leap and Aito reported their Jan 2024 sales volumes on 1 Feb 2024.Sales volume of the 11 automakers combined rose 80% YoY (ranging from +18% to +978%) on low a base (Chinese New Year (CNY) in Jan 2023)) and fell 34% MoM (ranging from -59% to +95%) in Jan 2024.Xpeng fell most MoM. Li Auto’s deliveries rose 106% YoY and fell 38% MoM to about 31,000 units in Jan 2024, in line with its weekly insurance data. Li Auto’s monthly deliveries were surpassed by Aito by about 1,800 units last month, the first time since Nov 2022.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

China Auto Sector – Jan NEV Sales in Line; More Catalysts After CNY

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, 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/ola-electric-mobility-pvt-ltd" target="_blank" data-smartkarma-citation="entities:40618:1" rel="noopener">Ola Electric</a> is looking to raise about US$1bn in its upcoming India IPO.</li>
<li>Ola Electric Mobility is a vertically integrated pure EV player in India with manufacturing capabilities for EVs and EV components, including cells.</li>
<li>In this note, we talk about the not-so-positive aspects of the deal.</li>
</ul>



Ola Electric is looking to raise about US$1bn in its upcoming India IPO.
Ola Electric Mobility is a vertically integrated pure EV player in India with manufacturing capabilities for EVs and EV components, including cells.
In this note, we talk about the not-so-positive aspects of the deal.


Ola Electric Pre-IPO - The Negatives - Still a Long Road Ahead with Ample Competition

<ul>
<li>
<a href="https://www.smartkarma.com/entities/ola-electric-mobility-pvt-ltd" target="_blank" data-smartkarma-citation="entities:40618:1" rel="noopener">Ola Electric</a> is looking to raise about US$1bn in its upcoming India IPO. </li>
<li>Ola Electric Mobility is a vertically integrated pure EV player in India with manufacturing capabilities for EVs and EV components, including cells.</li>
<li>In this note, we talk about the positive aspects of the deal.</li>
</ul>



Ola Electric is looking to raise about US$1bn in its upcoming India IPO. 
Ola Electric Mobility is a vertically integrated pure EV player in India with manufacturing capabilities for EVs and EV components, including cells.
In this note, we talk about the positive aspects of the deal.


Ola Electric Pre-IPO - The Positives - India’s Answer to Tesla?

<ul>
<li>300274 SZ: Sungrow preannounced full-year profit to exceed expectations (+)</li>
<li>LI/NIO/XPEV: Li Auto's deliveries rose in the third week of January, ranking first among new forces, but still lower than expected (-)</li>
<li>BEKE: Chongqing raised the levy standard of property tax (+)</li>
</ul>


300274 SZ: Sungrow preannounced full-year profit to exceed expectations (+)
LI/NIO/XPEV: Li Auto's deliveries rose in the third week of January, ranking first among new forces, but still lower than expected (-)
BEKE: Chongqing raised the levy standard of property tax (+)


[Blue Lotus Daily]: ATAT/HTHT/TCOM/300750CH/1211HK/835185CH/ 600516CH/LI/NIO/XPEV/BEKE/ZTO

China

XPeng Inc. designs, produces, and distributes electric vehicles. The Company designs, develops, manufactures and markets smart smart electric vehicles, as well as finance, parts, and maintenance services. XPeng serves customers in China.

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XPeng (XPEV US)

[Blue Lotus Daily]:BIDU/1810 HK/BZ/300750 SZ/1211 HK/LI/XPEV/NIO/TCOM/ATAT/3690 HK

Samsung plans to integrate Baidu's language model into Galaxy S24; EV deliveries show recovery; and travel trips exceed expectations during the...

Blue Lotus Research Institute

China Auto Sector – Jan NEV Sales in Line; More Catalysts After CNY

Eleven Chinese automakers including BYD, Great Wall, NIO, Xpeng, Li Auto, Zeekr, Aion, Deepal, Neta, Leap and Aito reported their Jan 2024 sales...

CMB International

Ola Electric Pre-IPO - The Negatives - Still a Long Road Ahead with Ample Competition

Ola Electric is looking to raise about US$1bn in its upcoming India IPO. In this note, we talk about the not-so-positive aspects of the deal.

Sumeet Singh

Ola Electric Pre-IPO - The Positives - India’s Answer to Tesla?

Ola Electric is looking to raise about US$1bn in its upcoming India IPO. In this note, we talk about the positive aspects of the deal.

Sumeet Singh

[Blue Lotus Daily]: ATAT/HTHT/TCOM/300750CH/1211HK/835185CH/ 600516CH/LI/NIO/XPEV/BEKE/ZTO

Sungrow's full-year profit exceeds expectations; Li Auto's deliveries improve but fall short; Chongqing raises property tax levy standard.

Blue Lotus Research Institute

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

[Blue Lotus Daily]:BIDU/1810 HK/BZ/300750 SZ/1211 HK/LI/XPEV/NIO/TCOM/ATAT/3690 HK

​Samsung plans to integrate Baidu's language model into Galaxy S24; EV deliveries show recovery; and travel trips exceed expectations during the...

Blue Lotus Research Institute

China Auto Sector – Jan NEV Sales in Line; More Catalysts After CNY

Eleven Chinese automakers including BYD, Great Wall, NIO, Xpeng, Li Auto, Zeekr, Aion, Deepal, Neta, Leap and Aito reported their Jan 2024 sales...

CMB International

Ola Electric Pre-IPO - The Negatives - Still a Long Road Ahead with Ample Competition

Ola Electric is looking to raise about US$1bn in its upcoming India IPO. In this note, we talk about the not-so-positive aspects of the deal.

Sumeet Singh

Ola Electric Pre-IPO - The Positives - India’s Answer to Tesla?

Ola Electric is looking to raise about US$1bn in its upcoming India IPO. In this note, we talk about the positive aspects of the deal.

Sumeet Singh

[Blue Lotus Daily]: ATAT/HTHT/TCOM/300750CH/1211HK/835185CH/ 600516CH/LI/NIO/XPEV/BEKE/ZTO

​Sungrow's full-year profit exceeds expectations; Li Auto's deliveries improve but fall short; Chongqing raises property tax levy standard.

Blue Lotus Research Institute

Samsung plans to integrate Baidu's language model into Galaxy S24; EV deliveries show recovery; and travel trips exceed expectations during the...

Sungrow's full-year profit exceeds expectations; Li Auto's deliveries improve but fall short; Chongqing raises property tax levy standard.