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>TCOM US: Overseas Travel for National Holiday Grow Faster than Domestic Travel, Potentially Signaling the End of Consumption Downgrading (+)</li>
<li>PDD US: PDD announces another support plan for “quality merchants” (/)</li>
<li>BABA US/JD US/002352 CH: E-commerce players intensify logistics competition in Hong Kong (////-)</li>
</ul>


TCOM US: Overseas Travel for National Holiday Grow Faster than Domestic Travel, Potentially Signaling the End of Consumption Downgrading (+)
PDD US: PDD announces another support plan for “quality merchants” (/)
BABA US/JD US/002352 CH: E-commerce players intensify logistics competition in Hong Kong (////-)


[Blue Lotus Daily-TMT Update]:TCOMUS/PDDUS/BABA/JD/002352CH/700HK/NTES/BILI/002624CH/3888HK/3690HK

Asian Hedge Fund Manager, Long Short Equity, Macro

David Mudd

Cross Asset Strategy

<ul>
<li>Although the tech sector in Hong Kong has surged over the last couple of weeks there appears to be minimal short covering in US-listed China tech names.</li>
<li>The performance of the "Magnificent 5" China tech names has led the rally as we outlined in <a href="https://www.smartkarma.com/insights/hong-kong-the-glass-is-half-full-time-to-buy-beta" target="_blank" data-smartkarma-citation="insights:134396" rel="noopener">Hong Kong: The Glass Is Half Full, Time to BUY Beta</a> .</li>
<li>The combination of of large outstanding short positions and a significant underweight of HK/China in international funds will lead to further upside in the tech sector.</li>
</ul>


Although the tech sector in Hong Kong has surged over the last couple of weeks there appears to be minimal short covering in US-listed China tech names.
The performance of the "Magnificent 5" China tech names has led the rally as we outlined in Hong Kong: The Glass Is Half Full, Time to BUY Beta .
The combination of of large outstanding short positions and a significant underweight of HK/China in international funds will lead to further upside in the tech sector.


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>Aequitas Research's weekly update on the IPOs, placements, lockup expiry and other ECM linked events that were covered by the team over the past week.</li>
<li>On the IPO front, the roaring China/HK market led to some refilings, in what is likely to be the start of a tsunami of refilings, if the market momentum sustains. </li>
<li>On the placements front, given the China/HK holidays there weren't any deals. We instead looked at <a href="https://www.smartkarma.com/entities/bharti-hexacom" target="_blank" data-smartkarma-citation="entities:40858:1" rel="noopener">Bharti Hexacom</a> upcoming lockup expiry.</li>
</ul>


Aequitas Research's weekly update on the IPOs, placements, lockup expiry and other ECM linked events that were covered by the team over the past week.
On the IPO front, the roaring China/HK market led to some refilings, in what is likely to be the start of a tsunami of refilings, if the market momentum sustains. 
On the placements front, given the China/HK holidays there weren't any deals. We instead looked at Bharti Hexacom upcoming lockup expiry.


ECM Weekly (7th Oct 2024) - Tokyo Metro, Rigaku, China Resources, K Bank, JD Ind, Swiggy, Lalatech

<ul>
<li>HSI has now closed above its 3 year downtrend and is poised to advance to its next resistance level</li>
<li>International brokers finally turning more bullish on the market as the US, Europe and Japan markets turn down</li>
<li>High beta sectors are set to outperform as global investors reallocate to the cheapest AND 2nd largest tech sector in the world</li>
</ul>


HSI has now closed above its 3 year downtrend and is poised to advance to its next resistance level
International brokers finally turning more bullish on the market as the US, Europe and Japan markets turn down
High beta sectors are set to outperform as global investors reallocate to the cheapest AND 2nd largest tech sector in the world


Hong Kong: The Glass Is Half Full, Time to BUY Beta

Event-Driven

<ul>
<li>Government of India raised around US$513m via selling some of its stake in Bharti Hexacom’s IPO in Apr 2024. Its IPO lockup is set to expire soon.</li>
<li>Bharti Hexacom (BH) is a communications solutions provider offering consumer mobile services, fixed-line telephone and broadband services to customers in the Rajasthan and the Northeast.</li>
<li>In this note, we will talk about the lockup dynamics and possible placement.</li>
</ul>


Government of India raised around US$513m via selling some of its stake in Bharti Hexacom’s IPO in Apr 2024. Its IPO lockup is set to expire soon.
Bharti Hexacom (BH) is a communications solutions provider offering consumer mobile services, fixed-line telephone and broadband services to customers in the Rajasthan and the Northeast.
In this note, we will talk about the lockup dynamics and possible placement.


Bharti Hexacom IPO Lockup - US$1.2bn Lockup Expiry, Will Have to Sell for Free-Float

China

JD.com Inc is an online direct sales company in China.  The Company offers a wide selection of products through its website and mobile applications.  JD.com sells appliances, computers, digital products, communication products, garments, books, and household items to consumers and vendors.

Price Gauge
52-week Range	0.00 - 0.00
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JD.com Inc (ADR) (JD US)

[Blue Lotus Daily-TMT Update]:TCOMUS/PDDUS/BABA/JD/002352CH/700HK/NTES/BILI/002624CH/3888HK/3690HK

Overseas travel for national holidays on the rise, signaling potential end to consumption downgrading. PDD announces support plan for quality...

Blue Lotus Research Institute

HK/China: THE BIG SHORT (SQUEEZE)

Even though HK/China tech names have surged, short positions have not covered. The large underweight position in HK/China by international funds...

David Mudd

ECM Weekly (7th Oct 2024) - Tokyo Metro, Rigaku, China Resources, K Bank, JD Ind, Swiggy, Lalatech

Aequitas Research's weekly update on the IPOs, placements, lockup expiry and other ECM linked events that were covered by the team over the past week.

Sumeet Singh

Hong Kong: The Glass Is Half Full, Time to BUY Beta

The Hang Seng Tech Index has risen 50% since we published our report at in April. As stated in the insight, the performance of the tech sector in...

David Mudd

Bharti Hexacom IPO Lockup - US$1.2bn Lockup Expiry, Will Have to Sell for Free-Float

Government of India raised around US$513m via selling some of its stake in Bharti Hexacom’s IPO in Apr 2024. Its IPO lockup is set to expire soon.

Sumeet Singh

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

[Blue Lotus Daily-TMT Update]:TCOMUS/PDDUS/BABA/JD/002352CH/700HK/NTES/BILI/002624CH/3888HK/3690HK

​Overseas travel for national holidays on the rise, signaling potential end to consumption downgrading. PDD announces support plan for quality...

Blue Lotus Research Institute

HK/China: THE BIG SHORT (SQUEEZE)

Even though HK/China tech names have surged, short positions have not covered. The large underweight position in HK/China by international funds...

David Mudd

ECM Weekly (7th Oct 2024) - Tokyo Metro, Rigaku, China Resources, K Bank, JD Ind, Swiggy, Lalatech

Aequitas Research's weekly update on the IPOs, placements, lockup expiry and other ECM linked events that were covered by the team over the past week.

Sumeet Singh

Hong Kong: The Glass Is Half Full, Time to BUY Beta

The Hang Seng Tech Index has risen 50% since we published our report at in April. As stated in the insight, the performance of the tech sector in...

David Mudd

Bharti Hexacom IPO Lockup - US$1.2bn Lockup Expiry, Will Have to Sell for Free-Float

Government of India raised around US$513m via selling some of its stake in Bharti Hexacom’s IPO in Apr 2024. Its IPO lockup is set to expire soon.

Sumeet Singh

Overseas travel for national holidays on the rise, signaling potential end to consumption downgrading. PDD announces support plan for quality...