Equity Analyst, LightStream Research

Aqila Ali

Equity Analyst

Long-Short Analysis on Japan, Asia and the World

LightStream Research

LightStream conducts quantitatively rigorous and data-driven analysis with a focus on Japan and Asia.

We consistently cover the Tech, Consumer and Industrial sectors, and provide ECM and Events coverage more broadly.

We supplement traditional qualitative insights from company relationships with a robust quantitative foundation that examines as much historical data as is available.
We further refine the accuracy of our insights and calls through the use of alternative data to flesh out current trends, and through a valuation framework that emphasises non-superficial peer group selection and a proper attempt to understand the metrics and changes that have driven security valuations in the past.

Equity Capital Markets

Following the surge in share prices of <a href="https://www.smartkarma.com/entities/tesla-motors-inc" target="_blank" data-smartkarma-citation="entities:20279:1" rel="noopener">Tesla Motors (TSLA US)</a> and <a href="https://www.smartkarma.com/entities/nio-inc" target="_blank" data-smartkarma-citation="entities:27399:1" rel="noopener">NIO Inc (NIO US)</a> and <a href="https://www.smartkarma.com/entities/li-auto-inc" target="_blank" data-smartkarma-citation="entities:28812:1" rel="noopener">Li Auto Inc. (LI US)</a>’s filing for an IPO on the NASDAQ, two other EV start-ups, Weltmeister (WM Motor) and <a href="https://www.smartkarma.com/entities/guangzhou-xiaopeng-motors-technology-co-ltd" target="_blank" data-smartkarma-citation="entities:29217:1" rel="noopener">Guangzhou Xiaopeng Motors Technology Co Ltd (1564038D CH)</a>(Xpeng) are also eyeing for IPOs in the U.S. Despite the U.S.-China tension, the recovery in the Chinese NEV market following the extension of the subsidy plans, and strong momentum for Tesla and Nio alongside the hype for Li Auto are the driving factors behind these IPO plans. In our opinion, Lixiang was lucky in getting a head start on going public this year; the others might not be as lucky as Lixiang. Most EV start-ups are struggling to make money, and an IPO appears to be a relatively quick way to raise cash.We take a look at Xpeng (reported to have secretly submitted IPO<a target="_blank"></a> documents to the US Stock market), in this note and hope to follow up with WM and see if it is any different from Lixiang, Nio, and Tesla.We go through the details below.

Following the surge in share prices of Tesla Motors (TSLA US) and NIO Inc (NIO US) and Li Auto Inc. (LI US)’s filing for an IPO on the NASDAQ, two other EV start-ups, Weltmeister (WM Motor) and Guangzhou Xiaopeng Motors Technology Co Ltd (1564038D CH)(Xpeng) are also eyeing for IPOs in the U.S. Despite the U.S.-China tension, the recovery in the Chinese NEV market following the extension of the subsidy plans, and strong momentum for Tesla and Nio alongside the hype for Li Auto are the driving factors behind these IPO plans. In our opinion, Lixiang was lucky in getting a head start on going public this year; the others might not be as lucky as Lixiang. Most EV start-ups are struggling to make money, and an IPO appears to be a relatively quick way to raise cash.We take a look at Xpeng (reported to have secretly submitted IPO documents to the US Stock market), in this note and hope to follow up with WM and see if it is any different from Lixiang, Nio, and Tesla.We go through the details below.

Blue Lotus China New Economy Research, Blue Lotus Research Institute

Eric Wen

Blue Lotus China New Economy 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>1211HK/XPEV/NIO/LI/000625 CH/0175 HK/601127 CH/9863 HK: Hyper Auto announces free charging for owners(-)</li>
<li>9926 HK: Akeso submits new indication application for Cardonilimab BsAb treatment of gastric cancer (+)</li>
<li>ACMR : ACM Research publishes 2024 revenue outlook ( + )</li>
</ul>


1211HK/XPEV/NIO/LI/000625 CH/0175 HK/601127 CH/9863 HK: Hyper Auto announces free charging for owners(-)
9926 HK: Akeso submits new indication application for Cardonilimab BsAb treatment of gastric cancer (+)
ACMR : ACM Research publishes 2024 revenue outlook ( + )


[Blue Lotus Daily]: 1211HK/XPEV/NIO/LI/000625 CH/0175 HK/601127 CH/9863 HK/9926 HK/ACMR

China

XPeng Inc. designs, produces, and distributes electric vehicles. The Company designs, develops, manufactures and markets smart smart electric vehicles, as well as finance, parts, and maintenance services. XPeng serves customers in China.

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XPeng (XPEV US)

Xpeng: Following Lixiang’s IPO Plan

Following the surge in share prices of Tesla Motors (TSLA US) and NIO Inc (NIO US) and Li Auto Inc. (LI US)’s filing for an IPO on the NASDAQ, two...

Aqila Ali

[Blue Lotus Daily]: 1211HK/XPEV/NIO/LI/000625 CH/0175 HK/601127 CH/9863 HK/9926 HK/ACMR

Hyper Auto announces free charging for owners；Akeso submits new indication application for Cardonilimab BsAb treatment of gastric cancer;ACM...

Blue Lotus Research Institute

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