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>JD US/1810 HK/BABA US: Government insider says home appliance subsidies to be fully disbursed by end of August (+)</li>
<li>JD US/2618 HK/PDD US/BABA US: JD adjusts its algorithm to improve traffic of low price and fast shipping products (+/+/-/-)</li>
<li>BABA US: Alibaba launches demo of LLM support for mathematical reasoning based on sketches (+)</li>
</ul>


JD US/1810 HK/BABA US: Government insider says home appliance subsidies to be fully disbursed by end of August (+)
JD US/2618 HK/PDD US/BABA US: JD adjusts its algorithm to improve traffic of low price and fast shipping products (+/+/-/-)
BABA US: Alibaba launches demo of LLM support for mathematical reasoning based on sketches (+)


[Blue Lotus Daily-TMT Update]:JD US/1810 HK/BABA US/2618 HK/PDD US/700 HK/NTES US/3690 HK/TCOM US

Asia Pac IPO & Placement Research, China biotech, Aequitas Research

Ke Yan, CFA, FRM

Asia Pac IPO & Placement Research, China biotech

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.

Quantitative Analysis

<ul>
<li>We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of August 23rd.</li>
<li>The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.</li>
<li>We highlight flows for Tencent (700 HK), China Mobile (941 HK).</li>
</ul>


We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of August 23rd.
The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.
We highlight flows for Tencent (700 HK), China Mobile (941 HK).


Hong Kong Connect Flows (Aug 23rd): Tencent, China Mobile

Blue Lotus China New Economy Research, Blue Lotus Research Institute

Eric Wen

Blue Lotus China New Economy Research

<ul>
<li>1810 HK/981 HK/AAPL US: Xiaomi’s Africa smartphone sales outgrow market in 2Q24 (+/+/-)</li>
<li>XPEV US:Xpeng Motors' revenue in the second quarter was in line with our expectations, and its losses were greater than our expectations(/)</li>
<li>1211 HK/1810 HK/XPEV US/NIO US/LI US:In the 33rd week of 2024, the delivery of new energy vehicles by Xiaomi fluctuated, Leapmotor and Li were strong, and NIO remained weak  (/////////)</li>
</ul>


1810 HK/981 HK/AAPL US: Xiaomi’s Africa smartphone sales outgrow market in 2Q24 (+/+/-)
XPEV US:Xpeng Motors' revenue in the second quarter was in line with our expectations, and its losses were greater than our expectations(/)
1211 HK/1810 HK/XPEV US/NIO US/LI US:In the 33rd week of 2024, the delivery of new energy vehicles by Xiaomi fluctuated, Leapmotor and Li were strong, and NIO remained weak  (/////////)


[Blue Lotus Daily]:1810 HK/981 HK/AAPL US/XPEV US/1211 HK/NIO US/LI US/LKNCY US/002352 CH/2618 HK

<ul>
<li>700 HK/BABA US:Taobao Deals App Now Supports WeChat Pay for All Users. (+)</li>
<li>700 HK: &lt;Arena Breakout: Infinite&gt; Developing AI Technology: Voice-Command Teammates (+)</li>
<li>NTES US: &lt;Where Winds Meet&gt; Final Pre-Launch Test Scheduled for August 28th (+)</li>
</ul>


700 HK/BABA US:Taobao Deals App Now Supports WeChat Pay for All Users. (+)
700 HK: &lt;Arena Breakout: Infinite&gt; Developing AI Technology: Voice-Command Teammates (+)
NTES US: &lt;Where Winds Meet&gt; Final Pre-Launch Test Scheduled for August 28th (+)


[Blue Lotus Daily-TMT Update]:700 HK/BABA US/NTES US/JD US/2618 HK/WMT US/BABAUS/AMZNUS/PDDUS/3690HK

Asian Equities Analyst, Logistics & Transport, Tracking Traffic

Daniel Hellberg

Asian Equities Analyst, Logistics & Transport

Tracking Traffic

Focusing on Asian logistics, transportation, and travel companies

Equity Bottom-Up

<ul>
<li>Headline numbers for ZTO in Q224 were +10% Revenue, +12% EBITDA</li>
<li>But gross margin in core express segment fell, as did Operating Cash Flow</li>
<li>ZTO left guidance unchanged for FY24; we recommend investors AVOID it</li>
</ul>


Headline numbers for ZTO in Q224 were +10% Revenue, +12% EBITDA
But gross margin in core express segment fell, as did Operating Cash Flow
ZTO left guidance unchanged for FY24; we recommend investors AVOID it


ZTO Express Q224 Results: Slow Top-Line Growth | Margin Compression in Core Express Business | AVOID

China

JD Logistics, Inc. offers logistics services. The Company provides cargo transportation, cargo distribution, warehousing, and other services. JD Logistics is located in China.

Price Gauge
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JD Logistics (2618 HK)

[Blue Lotus Daily-TMT Update]:JD US/1810 HK/BABA US/2618 HK/PDD US/700 HK/NTES US/3690 HK/TCOM US

Government insider says home appliance subsidies to be fully disbursed by end of August, JD adjusts algorithm for low price products, Alibaba...

Blue Lotus Research Institute

Hong Kong Connect Flows (Aug 23rd): Tencent, China Mobile

We analyzed southbound Hong Kong connect flows in the past week and highlighted flows for Tencent (700 HK), China Mobile (941 HK).

Ke Yan, CFA, FRM

[Blue Lotus Daily]:1810 HK/981 HK/AAPL US/XPEV US/1211 HK/NIO US/LI US/LKNCY US/002352 CH/2618 HK

Xiaomi's smartphone sales in Africa outperform market, Xpeng Motors' Q2 revenue meets but losses exceed expectations, new energy vehicle...

Blue Lotus Research Institute

[Blue Lotus Daily-TMT Update]:700 HK/BABA US/NTES US/JD US/2618 HK/WMT US/BABAUS/AMZNUS/PDDUS/3690HK

Taobao Deals app now accepts WeChat Pay, AI technology in development for <arena infinite breakout:="">, final pre-launch test for <where winds...

Blue Lotus Research Institute

ZTO Express Q224 Results: Slow Top-Line Growth | Margin Compression in Core Express Business | AVOID

ZTO's headline Q224 numbers look OK, but they don't paint an accurate picture of what's happening in the core express segment. We suggest investors...

Tracking Traffic

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

[Blue Lotus Daily-TMT Update]:JD US/1810 HK/BABA US/2618 HK/PDD US/700 HK/NTES US/3690 HK/TCOM US

​Government insider says home appliance subsidies to be fully disbursed by end of August, JD adjusts algorithm for low price products, Alibaba...

Blue Lotus Research Institute

Hong Kong Connect Flows (Aug 23rd): Tencent, China Mobile

We analyzed southbound Hong Kong connect flows in the past week and highlighted flows for Tencent (700 HK), China Mobile (941 HK).

Ke Yan, CFA, FRM

[Blue Lotus Daily]:1810 HK/981 HK/AAPL US/XPEV US/1211 HK/NIO US/LI US/LKNCY US/002352 CH/2618 HK

​Xiaomi's smartphone sales in Africa outperform market, Xpeng Motors' Q2 revenue meets but losses exceed expectations, new energy vehicle...

Blue Lotus Research Institute

[Blue Lotus Daily-TMT Update]:700 HK/BABA US/NTES US/JD US/2618 HK/WMT US/BABAUS/AMZNUS/PDDUS/3690HK

​Taobao Deals app now accepts WeChat Pay, AI technology in development for <arena infinite breakout:="">, final pre-launch test for <where winds...

Blue Lotus Research Institute

ZTO Express Q224 Results: Slow Top-Line Growth | Margin Compression in Core Express Business | AVOID

ZTO's headline Q224 numbers look OK, but they don't paint an accurate picture of what's happening in the core express segment. We suggest investors...

Tracking Traffic

Government insider says home appliance subsidies to be fully disbursed by end of August, JD adjusts algorithm for low price products, Alibaba...

Xiaomi's smartphone sales in Africa outperform market, Xpeng Motors' Q2 revenue meets but losses exceed expectations, new energy vehicle...

Taobao Deals app now accepts WeChat Pay, AI technology in development for <arena infinite breakout:="">, final pre-launch test for <where winds...