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>BABA/ SE/ PDD: Lazada mass-layoffs also in China offices (+/+/-)</li>
<li>NTES: Local media published an article addressing the issue of underage top-up in NetEase's mobile game &lt;Eggy Party&gt; (/)</li>
<li>700 HK: The New Year event operation of &lt;CrossFire Mobile&gt; is a success.(+)</li>
</ul>


BABA/ SE/ PDD: Lazada mass-layoffs also in China offices (+/+/-)
NTES: Local media published an article addressing the issue of underage top-up in NetEase's mobile game &lt;Eggy Party&gt; (/)
700 HK: The New Year event operation of &lt;CrossFire Mobile&gt; is a success.(+)


[Blue Lotus Daily - TMT Update]: BABA/SE/PDD/3690 HK/NTES/700 HK/AMZN/MELI/CPNG

<ul>
<li>BABA/MELI/PDD/Shein/1519 HK: Cainiao launches charter flight route to Mexico (+/+/-/-/-/)</li>
<li>700 HK: Tencent gaming studio &lt;Level Infinite&gt; announced 4 new games at The Game Award 2023(+)</li>
<li>BABA/Temu/Shein/CPNG/SE/AMZN/MELI: Alibaba plans to launch LLM AI-powered &lt;1688&gt; in South Korea(+/+/+/+/+/-/-)</li>
</ul>


BABA/MELI/PDD/Shein/1519 HK: Cainiao launches charter flight route to Mexico (+/+/-/-/-/)
700 HK: Tencent gaming studio &lt;Level Infinite&gt; announced 4 new games at The Game Award 2023(+)
BABA/Temu/Shein/CPNG/SE/AMZN/MELI: Alibaba plans to launch LLM AI-powered &lt;1688&gt; in South Korea(+/+/+/+/+/-/-)


[Blue Lotus Daily - TMT Update]:700 HK/BABA/Temu/Shein/PDD/CPNG/SE/AMZN/MELI/JD/1024 HK/2618 HK

<ul>
<li>PDD/BABA/JD/ZTO/2618.HK/1519.HK: Express Delivery Parcel Volume grows +48% YoY last week (+)</li>
<li>BABA/ MELI/ AMZN/ CPNG: AliExpress to introduce live streaming service abroad(+/-/-/-)</li>
<li>700.HK: Tencent's "Fight of the Golden Spatula" reach high highs with latest season content update (+)</li>
</ul>


PDD/BABA/JD/ZTO/2618.HK/1519.HK: Express Delivery Parcel Volume grows +48% YoY last week (+)
BABA/ MELI/ AMZN/ CPNG: AliExpress to introduce live streaming service abroad(+/-/-/-)
700.HK: Tencent's "Fight of the Golden Spatula" reach high highs with latest season content update (+)


[Blue Lotus Daily - TMT Update]: PDD/BABA/JD/ZTO/2618.HK/1519.HK/MELI/AMZN/CPNG/700.HK

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/vng-limited" target="_blank" data-smartkarma-citation="entities:26716:1" rel="noopener">Vng (VNG US)</a>, Vietnam’s leading internet platform, aims to raise up to US$300m in its US IPO.</li>
<li>VNG is Vietnam’s leading homegrown digital ecosystem, as per the company, with diverse product offerings across games, communications and media, fintech and other opportunities</li>
<li>In this note, we talk about the positive aspects of the deal.</li>
</ul>



Vng (VNG US), Vietnam’s leading internet platform, aims to raise up to US$300m in its US IPO.
VNG is Vietnam’s leading homegrown digital ecosystem, as per the company, with diverse product offerings across games, communications and media, fintech and other opportunities
In this note, we talk about the positive aspects of the deal.


VNG Pre-IPO - The Positives - Vietnam's Mini-Tencent

Asset Allocation & Fund Positioning, Copley Fund Research

Steven Holden

Asset Allocation & Fund Positioning

Copley Fund Research

Copley Fund Research provide research and data on asset allocation among Global and Emerging Market equity funds.  The analysis details absolute and relative positioning across countries, sectors and industries together with highly granular data on single stock and single fund allocations.  The data is updated monthly with time series going back to January 2011.

Global Research - Analysis of 165 prominent Global equity funds, combined AUM $335bn
GEM Research - Analysis of 127 prominent global EM equity funds, combined AUM $250bn

Asset Allocation - Global and GEM Equity

Cross Asset Strategy

<ul>
<li>Asia underweight funds LATAM overweight.  Asia’s ‘big 4’, account for 64.4% of the average fund.  MENA region suffers from a lack of ownership, with Saudi Arabia held underweight by -2.92%.</li>
<li>Tech moves to the top sector holding after capturing strong inflows, displacing Financials which saw heavy outflows and negative rotation.</li>
<li>TSMC, Samsung, Tencent and Alibaba are the consensus holding.  All 4 are owned by at least 70% of funds and form the backbone of most active GEM equity funds.</li>
</ul>


Asia underweight funds LATAM overweight.  Asia’s ‘big 4’, account for 64.4% of the average fund.  MENA region suffers from a lack of ownership, with Saudi Arabia held underweight by -2.92%.
Tech moves to the top sector holding after capturing strong inflows, displacing Financials which saw heavy outflows and negative rotation.
TSMC, Samsung, Tencent and Alibaba are the consensus holding.  All 4 are owned by at least 70% of funds and form the backbone of most active GEM equity funds.


Emerging Market Funds:  Top-Down Positioning and Fund Flows Update

Brazil

MercadoLibre, Inc. operates an online trading site for the Latin American markets. The Company's website allows businesses and individuals to list items, conduct sales, and purchases online in either a fixed-price and auction format. MercadoLibre offers classified advertisements for motor vehicles, vessels, aircraft, and real estate, as well as online payment services.

Price Gauge
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MercadoLibre (MELI US)

[Blue Lotus Daily - TMT Update]: BABA/SE/PDD/3690 HK/NTES/700 HK/AMZN/MELI/CPNG

Lazada mass-layoffs also in China offices. NetEase faces criticism over underage top-ups in mobile game . The New Year event operation of is a...

Blue Lotus Research Institute

[Blue Lotus Daily - TMT Update]:700 HK/BABA/Temu/Shein/PDD/CPNG/SE/AMZN/MELI/JD/1024 HK/2618 HK

Cainiao launches charter flight route to Mexico; Tencent gaming studio announces 4 new games; Alibaba plans to launch LLM AI-powered 1688 in South...

Blue Lotus Research Institute

[Blue Lotus Daily - TMT Update]: PDD/BABA/JD/ZTO/2618.HK/1519.HK/MELI/AMZN/CPNG/700.HK

Express delivery parcel volume grew by 48% YoY, AliExpress plans to introduce live streaming service abroad, and Tencent's "Fight of the Golden...

Blue Lotus Research Institute

VNG Pre-IPO - The Positives - Vietnam's Mini-Tencent

Vng (VNG US), Vietnam’s leading internet platform, aims to raise up to US$300m in its US IPO. In this note we talk about the positive aspects of...

Sumeet Singh

Emerging Market Funds: Top-Down Positioning and Fund Flows Update

Asia underweight funds LATAM overweight. Asia’s ‘big 4’, account for 64% of the average fund. MENA region suffers from a lack of ownership, Tech...

Steven Holden

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

[Blue Lotus Daily - TMT Update]: BABA/SE/PDD/3690 HK/NTES/700 HK/AMZN/MELI/CPNG

Lazada mass-layoffs also in China offices. NetEase faces criticism over underage top-ups in mobile game . The New Year event operation of is a...

Blue Lotus Research Institute

[Blue Lotus Daily - TMT Update]:700 HK/BABA/Temu/Shein/PDD/CPNG/SE/AMZN/MELI/JD/1024 HK/2618 HK

​Cainiao launches charter flight route to Mexico; Tencent gaming studio announces 4 new games; Alibaba plans to launch LLM AI-powered 1688 in South...

Blue Lotus Research Institute

[Blue Lotus Daily - TMT Update]: PDD/BABA/JD/ZTO/2618.HK/1519.HK/MELI/AMZN/CPNG/700.HK

​Express delivery parcel volume grew by 48% YoY, AliExpress plans to introduce live streaming service abroad, and Tencent's "Fight of the Golden...

Blue Lotus Research Institute

VNG Pre-IPO - The Positives - Vietnam's Mini-Tencent

Vng (VNG US), Vietnam’s leading internet platform, aims to raise up to US$300m in its US IPO. In this note we talk about the positive aspects of...

Sumeet Singh

Emerging Market Funds: Top-Down Positioning and Fund Flows Update

Asia underweight funds LATAM overweight. Asia’s ‘big 4’, account for 64% of the average fund. MENA region suffers from a lack of ownership, Tech...

Steven Holden

Cainiao launches charter flight route to Mexico; Tencent gaming studio announces 4 new games; Alibaba plans to launch LLM AI-powered 1688 in South...

Express delivery parcel volume grew by 48% YoY, AliExpress plans to introduce live streaming service abroad, and Tencent's "Fight of the Golden...