China/Asia TMT

Shawn Yang

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>Blue Lotus expects Huawei’s smartphone shipment market share to grow 5ppt in 2024, of which 2ppt from Apple and 1.5ppt from Honor;</li>
<li>The impacts are mainly two: (1) Huawei Appstore’s unique revenue share for games and apps, (2) Opportunity to recommend new games and apps through preinstallation;</li>
<li>We see the biggest positive impact on subscription-based video apps and the biggest negative impact on mobile games. We reiterate our Top Pick in iQIYI.</li>
</ul>


Blue Lotus expects Huawei’s smartphone shipment market share to grow 5ppt in 2024, of which 2ppt from Apple and 1.5ppt from Honor;
The impacts are mainly two: (1) Huawei Appstore’s unique revenue share for games and apps, (2) Opportunity to recommend new games and apps through preinstallation;
We see the biggest positive impact on subscription-based video apps and the biggest negative impact on mobile games. We reiterate our Top Pick in iQIYI.


[Blue Lotus Entertainment Sector Update]: What Change Can Mate 60 Bring to Games and Apps

<ul>
<li>ZTO/002352.CH/ BABA/ PDD: Parcel volume data suggests continued consumption rebound (+)</li>
<li>HK 700/NTES: Tencent Announces New Game "Yuan Meng Zhi Xing" (+)/(-)</li>
<li>3690. HK : Keeta expands into Hong Kong Island (-)</li>
</ul>


ZTO/002352.CH/ BABA/ PDD: Parcel volume data suggests continued consumption rebound (+)
HK 700/NTES: Tencent Announces New Game "Yuan Meng Zhi Xing" (+)/(-)
3690. HK : Keeta expands into Hong Kong Island (-)


China TMT Update-ZTO/002352.CH/BABA/ PDD/HK 700/NTES/3690.HK-Tencent New Game/Keeta/Parcel Volume

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 analyzed the latest HK SFC report for aggregate short position as of Sep 8th.</li>
<li>Top short increases and decreases were tabulated for one week and four week period. </li>
<li>We highlight short changes in ICBC, Xiaomi, Petrochina, CCB, Li Auto, Baba, Aac Tech.</li>
</ul>


We analyzed the latest HK SFC report for aggregate short position as of Sep 8th.
Top short increases and decreases were tabulated for one week and four week period. 
We highlight short changes in ICBC, Xiaomi, Petrochina, CCB, Li Auto, Baba, Aac Tech.


HK Short Interest Weekly: ICBC, Xiaomi, Petrochina, CCB, Li Auto, Baba, Aac Tech

<ul>
<li>A key feature of iPhone 15 is 3nm Bionic chipset with enhanced game supports. </li>
<li>This, however, will not break the tie of Apple vs. Huawei;</li>
<li>We see game engine benefiting from upcoming competition between Apple, Qualcomm, MTK and Huawei, more so though AI.</li>
</ul>


A key feature of iPhone 15 is 3nm Bionic chipset with enhanced game supports. 
This, however, will not break the tie of Apple vs. Huawei;
We see game engine benefiting from upcoming competition between Apple, Qualcomm, MTK and Huawei, more so though AI.


[Blue Lotus Entertainment Sector Update]: Game Cannot Break the Tie of Hardware but AI Can

<ul>
<li>(-) Tencent's new game "SYNCED" has yielded mediocre results, leaving players disappointed.</li>
<li>3690.HK/002352.SH/DADA: Douyin expands food delivery service cities and introduces regional agents (-/+/+)</li>
<li>APPL/UBI.PA/CCOEY/HK700/NTES: The photorealistic rendering technology of the A17 Pro biochip could potentially usher smartphone gaming into the next generation. (+)</li>
</ul>


(-) Tencent's new game "SYNCED" has yielded mediocre results, leaving players disappointed.
3690.HK/002352.SH/DADA: Douyin expands food delivery service cities and introduces regional agents (-/+/+)
APPL/UBI.PA/CCOEY/HK700/NTES: The photorealistic rendering technology of the A17 Pro biochip could potentially usher smartphone gaming into the next generation. (+)


China TMT Update-700.HK/3690/2352.CH/DADA/APPL/UBI/NTES-"SYNCED"/Douyin Expands Food Delivery

China

NetEase, Inc. operates as an leading internet technology company providing online services including content, community, communication, and commerce. The Company develops and operates online games, electronic commerce, internet media, innovative business, and other businesses. NetEase expands its businesses to Japan, North American, and other other international markets.

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NetEase (9999 HK)

[Blue Lotus Entertainment Sector Update]: What Change Can Mate 60 Bring to Games and Apps

We see the biggest positive impact on subscription-based video apps and the biggest negative impact on mobile games. We reiterate our Top Pick in...

Blue Lotus Research Institute

China TMT Update-ZTO/002352.CH/BABA/ PDD/HK 700/NTES/3690.HK-Tencent New Game/Keeta/Parcel Volume

ZTO/002352.CH/BABA/PDD: Parcel volume data suggests continued consumption rebound (+);HK 700/NTES: Tencent Announces New Game "Yuan Meng Zhi...

Blue Lotus Research Institute

HK Short Interest Weekly: ICBC, Xiaomi, Petrochina, CCB, Li Auto, Baba, Aac Tech

We analyzed the latest HK SFC report for aggregate short position as of Sep 8th and highlight short interest changes in ICBC, Xiaomi, Petrochina,...

Ke Yan, CFA, FRM

[Blue Lotus Entertainment Sector Update]: Game Cannot Break the Tie of Hardware but AI Can

A key feature of iPhone 15 is 3nm Bionic chipset with enhanced game supports.We see game engine benefiting from upcoming competition between Apple,...

Blue Lotus Research Institute

China TMT Update-700.HK/3690/2352.CH/DADA/APPL/UBI/NTES-"SYNCED"/Douyin Expands Food Delivery

Tencent's new game "SYNCED" has yielded mediocre results. 3690.HK/002352.SH/DADA: Douyin expands food delivery service; APPL/UBI.PA/CCOEY/HK700...

Blue Lotus Research Institute

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