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>By one metric, outbound tourism in December improved to 89% of 2019 levels</li>
<li>Meanwhile, domestic activity in December remained close to pre-Covid levels</li>
<li>In this month's edition we track the tourism recovery in ten illustrative charts</li>
</ul>


By one metric, outbound tourism in December improved to 89% of 2019 levels
Meanwhile, domestic activity in December remained close to pre-Covid levels
In this month's edition we track the tourism recovery in ten illustrative charts


Monthly Chinese Tourism Tracker | China's 2023 Recovery in Ten Charts | (January 2024)

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/1024 HK/3690 HK/780 HK: Ctrip cooperate with Kuaishou to promote traveling products(+/+/-/-)</li>
<li>PDD/ZTO/1519 HK: PDD partners with ZTO and J&amp;T for upcoming “Open during Spring Festival” event (+/+/+)</li>
<li>PDD/ SHEIN/ AMZN/ SE/ CPNG/ MELI: Temu planning to add 3P model (+/-)</li>
</ul>


TCOM/1024 HK/3690 HK/780 HK: Ctrip cooperate with Kuaishou to promote traveling products(+/+/-/-)
PDD/ZTO/1519 HK: PDD partners with ZTO and J&amp;T for upcoming “Open during Spring Festival” event (+/+/+)
PDD/ SHEIN/ AMZN/ SE/ CPNG/ MELI: Temu planning to add 3P model (+/-)


[Blue Lotus Daily - TMT Update]:TCOM/1024 HK/3690 HK/780 HK/PDD/ZTO/1519 HK/SHEIN/AMZN/SE/CPNG/MELI

Blue Lotus China New Economy Research, Blue Lotus Research Institute

Eric Wen

Blue Lotus China New Economy Research

<ul>
<li>XPEV/ NIO: Xpeng and NIO's weekly sales show weakness (-)</li>
<li>9995 HK: Rumors about RemeGen's ADC to Pfizer might be returned (-)</li>
<li>TCOM/1024 HK/780 HK/3690 HK: Ctrip cooperate with Kuaishou to promote traveling products (+)</li>
</ul>


XPEV/ NIO: Xpeng and NIO's weekly sales show weakness (-)
9995 HK: Rumors about RemeGen's ADC to Pfizer might be returned (-)
TCOM/1024 HK/780 HK/3690 HK: Ctrip cooperate with Kuaishou to promote traveling products (+)


[Blue Lotus Daily]: 1211HK/XPEV/NIO/9995HK/TCOM/1024HK/780HK/3690HK

<ul>
<li>XPEV/1211 BYD: Tesla announced price reduction for Model 3 and Model Y(-)</li>
<li>TCOM/780 HK: 4Q23 inbound and outbound travel recover to 82% of 2019 level, mainly from Hong Kong and Macao(-)</li>
<li>ATAT/HTHT: National Migration Administration introduced five facilitation measures to attract foreigners to China (+)</li>
</ul>


XPEV/1211 BYD: Tesla announced price reduction for Model 3 and Model Y(-)
TCOM/780 HK: 4Q23 inbound and outbound travel recover to 82% of 2019 level, mainly from Hong Kong and Macao(-)
ATAT/HTHT: National Migration Administration introduced five facilitation measures to attract foreigners to China (+)


[Blue Lotus Daily]: NIO/LI/XPEV/TSLA/1211 HK/TCOM/780 HK/ATAT/HTHT

Asian Insight Provider - Actionable ideas, CrossASEAN Research

Henry Soediarko

Asian Insight Provider - Actionable ideas

CrossASEAN Research

At CrossASEAN Research we strive to produce unbiased and differentiated on the ground insights on companies across South East Asia. Our Research is produced for the most part after face to face meetings and conversations with company management to dig deep into the long term vision and strategy of the companies we cover. We seek to deliver investable and actionable themes on sectors and markets across SE Asia, often in collaboration with other Insight Providers across the region, pooling the vast experience of the analysts within the Smartkarma Ecosystem. We also offer bespoke work and tailor made trips for our clients. 

Insights across South East Asia

<ul>
<li>Chinese tourists are back, and the Thai government has launched a series of initiatives to woo them back.</li>
<li>Discounts to airlines offered by <a href="https://www.smartkarma.com/entities/airports-of-thailand-pcl" target="_blank" data-smartkarma-citation="entities:239:1" rel="noopener">Airports of Thailand (AOT TB)</a> will not hurt earnings much, although if extended for &gt;12 months,  AOT earnings could lag their peers.</li>
<li>Valuation is still expensive, although it is expected to normalize once earnings are back. Collapse the RV trade against <a href="https://www.smartkarma.com/entities/malaysia-airports-holdings-bhd" target="_blank" data-smartkarma-citation="entities:117:1" rel="noopener">Malaysia Airports Holdings (MAHB MK)</a> and buy for the short term.</li>
</ul>


Chinese tourists are back, and the Thai government has launched a series of initiatives to woo them back.
Discounts to airlines offered by Airports of Thailand (AOT TB) will not hurt earnings much, although if extended for &gt;12 months,  AOT earnings could lag their peers.
Valuation is still expensive, although it is expected to normalize once earnings are back. Collapse the RV trade against Malaysia Airports Holdings (MAHB MK) and buy for the short term.


Airport of Thailand (AOT): Near Term Gain

China

Tongcheng Travel Holdings Limited operates as an online travel agency. The Company provides transportation ticketing, accommodation reservation, value added travel products sales, and other services. Tongcheng Travel Holdings provides its services throughout China.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Tongcheng Travel Holdings (780 HK)

Monthly Chinese Tourism Tracker | China's 2023 Recovery in Ten Charts | (January 2024)

In this insight we document China's ongoing recovery in outbound and domestic tourism demand by sharing with readers ten illustrative charts.

Tracking Traffic

[Blue Lotus Daily - TMT Update]:TCOM/1024 HK/3690 HK/780 HK/PDD/ZTO/1519 HK/SHEIN/AMZN/SE/CPNG/MELI

Ctrip teams up with Kuaishou to boost travel offerings; PDD collaborates with ZTO and J&T for Spring Festival event; and Temu considers adding 3P...

Blue Lotus Research Institute

[Blue Lotus Daily]: 1211HK/XPEV/NIO/9995HK/TCOM/1024HK/780HK/3690HK

Xpeng and NIO's weekly sales weaken; RemeGen's ADC to Pfizer rumors may be returned; Ctrip partners with Kuaishou to boost travel products.

Blue Lotus Research Institute

[Blue Lotus Daily]: NIO/LI/XPEV/TSLA/1211 HK/TCOM/780 HK/ATAT/HTHT

Tesla reduces prices for Model 3 and Model Y; Travel recovers to 82% of 2019 levels in Hong Kong and Macao; China introduces measures to attract...

Blue Lotus Research Institute

Airport of Thailand (AOT): Near Term Gain

AOT looks interesting right now, as there have been a few initiatives by both the management and the local authority to win tourism market share in...

Henry Soediarko

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Monthly Chinese Tourism Tracker | China's 2023 Recovery in Ten Charts | (January 2024)

In this insight we document China's ongoing recovery in outbound and domestic tourism demand by sharing with readers ten illustrative charts.

Tracking Traffic

[Blue Lotus Daily - TMT Update]:TCOM/1024 HK/3690 HK/780 HK/PDD/ZTO/1519 HK/SHEIN/AMZN/SE/CPNG/MELI

​Ctrip teams up with Kuaishou to boost travel offerings; PDD collaborates with ZTO and J&T for Spring Festival event; and Temu considers adding 3P...

Blue Lotus Research Institute

[Blue Lotus Daily]: 1211HK/XPEV/NIO/9995HK/TCOM/1024HK/780HK/3690HK

​Xpeng and NIO's weekly sales weaken; RemeGen's ADC to Pfizer rumors may be returned; Ctrip partners with Kuaishou to boost travel products.

Blue Lotus Research Institute

[Blue Lotus Daily]: NIO/LI/XPEV/TSLA/1211 HK/TCOM/780 HK/ATAT/HTHT

​Tesla reduces prices for Model 3 and Model Y; Travel recovers to 82% of 2019 levels in Hong Kong and Macao; China introduces measures to attract...

Blue Lotus Research Institute

Airport of Thailand (AOT): Near Term Gain

AOT looks interesting right now, as there have been a few initiatives by both the management and the local authority to win tourism market share in...

Henry Soediarko

Ctrip teams up with Kuaishou to boost travel offerings; PDD collaborates with ZTO and J&T for Spring Festival event; and Temu considers adding 3P...

Xpeng and NIO's weekly sales weaken; RemeGen's ADC to Pfizer rumors may be returned; Ctrip partners with Kuaishou to boost travel products.

Tesla reduces prices for Model 3 and Model Y; Travel recovers to 82% of 2019 levels in Hong Kong and Macao; China introduces measures to attract...