In today’s briefing:
- [Blue Lotus Daily]: BABA/PDD/JD/ZTO/BEKE/XPEV/NIO/LI/BGNE
- [Blue Lotus Daily]BABA/PDD/JD/ZTO/BEKE/XPEV/NIO/LI/BGNE
- Ohayo Japan | Powell’s Concerns; Semiconductor Resurgence Through Strategic Subsidies
- Affordable Luxury: A Look Into Chinese Luxury (Part II)
- Earnings Season Post (ANET, AMKR, RMBS, LSCC, AMD, Advantest, SLAB, QCOM, QRVO, ENTG, SITM…)
- [Blue Lotus Lodging Sector Update]: Dividend from Supply Shortage Can Continue into 2024
- China Property Developers In Distress – Weekly News & Announcements Tracker | Nov 2-9, 2023
[Blue Lotus Daily]: BABA/PDD/JD/ZTO/BEKE/XPEV/NIO/LI/BGNE
- BABA/PDD/JD/ZTO/1519.HK/: Express parcel volume grew +20% YoY during first week of 11.11 Shopping (+)
- BEKE: Property Update – Mild recovery for existing home sales in October and 1st week of November
- XPEV: Xpeng, Huawei dispute over Autonomous Emergency Braking (AEB) (-)
[Blue Lotus Daily]BABA/PDD/JD/ZTO/BEKE/XPEV/NIO/LI/BGNE
- BABA/PDD/JD/ZTO/1519.HK/: Express parcel volume grew +20% YoY during first week of 11.11 Shopping (+)
- BEKE: Property Update – Mild recovery for existing home sales in October and 1st week of November
- XPEV: Xpeng, Huawei dispute over Autonomous Emergency Braking (AEB) (-)
Ohayo Japan | Powell’s Concerns; Semiconductor Resurgence Through Strategic Subsidies
- Overseas: SPX -0.8%, Nasdaq -0.8%; All S&P sectors in the red; Walt Disney shares jumped 6.9% on a quarterly profit beat
- Today: NKY Futs -0.4% v cash. JPY0151.4; BoJ preps market for higher rates. INCJ to sell shares in Renesas
- JapanX: Japan’s semiconductor revival accelerates with $13.2 billion subsidies, global partnerships, and cutting-edge research, signaling a bold move to regain global dominance in chip production.
Affordable Luxury: A Look Into Chinese Luxury (Part II)
- Thanks to the rapidly expanding middle class, increasing incomes, and a strong desire for luxury, Chinese consumers are often seen as the embodiment of the luxury industry’s promising future
- However, the market has seen competition intensify: Not only are international brands competing against each other, but the rise of domestic brands has brought the competitive landscape to another level
- Since this summer, investors have been concerned by a shifting Chinese landscape in the context of the current economic situation
Earnings Season Post (ANET, AMKR, RMBS, LSCC, AMD, Advantest, SLAB, QCOM, QRVO, ENTG, SITM…)
- Another week in earnings, the big theme I can point out is the continued and persistent weakness in the Industrial market.
- Reminder: in a first-in-first-out (FIFO) framework, the first into the inventory correction were PCs and Smartphones.
- Then, networking and data center, and we are now seeing Industrial start their inventory correction cycle. I don’t think this is the last we will hear about this.
[Blue Lotus Lodging Sector Update]: Dividend from Supply Shortage Can Continue into 2024
- China hotel supply shortage haven’t fully recovered from Covid, the total hotel volume is still 11% lower than pre-Covid level in 2023, we expect a full recovery in 2024.
- Due to the continue of hotel supply shortage, we think hotel groups in China can still enjoy the premium pricing in the next 6-12 months.
- We think Atour has better fundamentals than Huazhu/Jinjiang/BTG, in terms of 1) hotel room scale leverage; 2) RevPAR quality; 3) upper midscale class positioning and less burden in legacy brands.
China Property Developers In Distress – Weekly News & Announcements Tracker | Nov 2-9, 2023
- A weekly curated selection of Chinese news articles and company announcements focused on developers in distress
- We look for their deals, updates, specific project progress news (‘local signals’), as well as relevant local research commentaries about the market
- We do not verify the underlying data or provide any opinion, we only select and summarize the information; See direct links to sources
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