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>1797 HK/JD US: Popular live streamer Dong Yuhui leaves East Buy (-/+)</li>
<li>BABA US/PDD US: AliExpress receives small fine in Korea due to data privacy violation (+)</li>
<li>Chinese Gaming Industry: Games Can Now Be Filed for Testing Without Approval of Game Code, Guangdong Province Leads the Way  (+)</li>
</ul>


1797 HK/JD US: Popular live streamer Dong Yuhui leaves East Buy (-/+)
BABA US/PDD US: AliExpress receives small fine in Korea due to data privacy violation (+)
Chinese Gaming Industry: Games Can Now Be Filed for Testing Without Approval of Game Code, Guangdong Province Leads the Way  (+)


[Blue Lotus Daily-TMT Update]:1797 HK/JD US/BABA US/PDD US/3690 HK/1024HK/700HK/NTE US/TCOMUS/AMZNUS

<ul>
<li>3690 HK/TCOM US: Online catering is robust in 2Q24, while online tourism diminishing quickly（+/-）</li>
<li>1024 HK: Source said Kuaishou's video generation LLM, Kling AI, has surpassed one million total application users.（+）</li>
<li>3690 HK:Meituan may launch food delivery service in Riyadh in September or October this year (+)</li>
</ul>


3690 HK/TCOM US: Online catering is robust in 2Q24, while online tourism diminishing quickly（+/-）
1024 HK: Source said Kuaishou's video generation LLM, Kling AI, has surpassed one million total application users.（+）
3690 HK:Meituan may launch food delivery service in Riyadh in September or October this year (+)


[Blue Lotus Daily-TMT Update]:3690 HK/TCOM US/1024 HK/BIDU US/PDD US/AMZN US/NTES US/700 HK/BABA US

<ul>
<li>700 HK: Tencent's &lt;Civilization Mobile&gt; Officially Launches, Ranks Second on iOS Download Chart.（+）</li>
<li>JD US/PDD US/BABA US : JD to launch new monthly promo event “Super 18” (/)</li>
<li>PDD US: PDD announces new requirements for some merchants (+)</li>
</ul>


700 HK: Tencent's &lt;Civilization Mobile&gt; Officially Launches, Ranks Second on iOS Download Chart.（+）
JD US/PDD US/BABA US : JD to launch new monthly promo event “Super 18” (/)
PDD US: PDD announces new requirements for some merchants (+)


[Blue Lotus Daily-TMT Update]:700HK/JD US/PDD US/BABA US/NTES US/SE US/TCOM US/ATAT US/3690HK/BABAUS

Andy Fu

<ul>
<li>Consumption subsidies in China has been muted in the 2020-2024 period, compared to practices in 2009-2012. We believe it reflects different thought of Chinese government at these two times;</li>
<li>Past data has suggested that consumption subsidies are effective. We expect consumer subsidies of ~RMB 50bn to be issued in C2H24 to revive consumption;</li>
<li>An even bigger consumer stimulus of ~RMB 200bn might be issued in 2025, and we believe a consumption tax reform might be one the permanent fixes for the purpose.</li>
</ul>


Consumption subsidies in China has been muted in the 2020-2024 period, compared to practices in 2009-2012. We believe it reflects different thought of Chinese government at these two times;
Past data has suggested that consumption subsidies are effective. We expect consumer subsidies of ~RMB 50bn to be issued in C2H24 to revive consumption;
An even bigger consumer stimulus of ~RMB 200bn might be issued in 2025, and we believe a consumption tax reform might be one the permanent fixes for the purpose.


How to Stimulate China's Consumption, Part IV：Consumption Voucher Is Effective

<ul>
<li>PDD US/BABA US/JD US/VIPS US/3690 HK: NBS publishes social retail consumption data for June 2024 (-/+)</li>
<li>1024 HK: Kuaishou Releases First Fully AI-Generated Micro-Drama, Receives Positive Reviews.（+）</li>
<li>BABA US/PDD US/1519 HK/ZTO US: Weekly parcel volume shows 26% y-o-y growth (+)</li>
</ul>


PDD US/BABA US/JD US/VIPS US/3690 HK: NBS publishes social retail consumption data for June 2024 (-/+)
1024 HK: Kuaishou Releases First Fully AI-Generated Micro-Drama, Receives Positive Reviews.（+）
BABA US/PDD US/1519 HK/ZTO US: Weekly parcel volume shows 26% y-o-y growth (+)


[Blue Lotus Daily-TMT Update]:PDD US/BABA US/JD US/VIPS/3690HK/1024 HK/1519HK/ZTO/TCOM/NTES/BILI/

China

Trip.com Group Ltd. provides online travel agency services. The Company offers mobile applications, hotel reservations, flight ticketing, package tours, corporate travel management, and train ticketing services.

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

Trip.com (TCOM US)

[Blue Lotus Daily-TMT Update]:1797 HK/JD US/BABA US/PDD US/3690 HK/1024HK/700HK/NTE US/TCOMUS/AMZNUS

Popular live streamer Dong Yuhui leaves East Buy, AliExpress fined for data privacy violation in Korea, and Guangdong Province allows games to be...

Blue Lotus Research Institute

[Blue Lotus Daily-TMT Update]:3690 HK/TCOM US/1024 HK/BIDU US/PDD US/AMZN US/NTES US/700 HK/BABA US

Online catering is thriving, while online tourism is declining. Kuaishou's video generation AI has over one million users. Meituan may expand food...

Blue Lotus Research Institute

[Blue Lotus Daily-TMT Update]:700HK/JD US/PDD US/BABA US/NTES US/SE US/TCOM US/ATAT US/3690HK/BABAUS

Tencent's <civilization mobile> ranks second on iOS download chart, JD US to launch "Super 18" promo event, PDD US announces new requirements for...

Blue Lotus Research Institute

How to Stimulate China's Consumption, Part IV：Consumption Voucher Is Effective

China's consumption subsidies have been quite conservative but actually effective. We expect more subsidies in 2H24 and far more in 2025. We...

Blue Lotus Research Institute

[Blue Lotus Daily-TMT Update]:PDD US/BABA US/JD US/VIPS/3690HK/1024 HK/1519HK/ZTO/TCOM/NTES/BILI/

NBS releases social retail consumption data for June 2024, Kuaishou's AI-generated micro-drama receives positive reviews, and weekly parcel volume...

Blue Lotus Research Institute

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

[Blue Lotus Daily-TMT Update]:1797 HK/JD US/BABA US/PDD US/3690 HK/1024HK/700HK/NTE US/TCOMUS/AMZNUS

​Popular live streamer Dong Yuhui leaves East Buy, AliExpress fined for data privacy violation in Korea, and Guangdong Province allows games to be...

Blue Lotus Research Institute

[Blue Lotus Daily-TMT Update]:3690 HK/TCOM US/1024 HK/BIDU US/PDD US/AMZN US/NTES US/700 HK/BABA US

​Online catering is thriving, while online tourism is declining. Kuaishou's video generation AI has over one million users. Meituan may expand food...

Blue Lotus Research Institute

[Blue Lotus Daily-TMT Update]:700HK/JD US/PDD US/BABA US/NTES US/SE US/TCOM US/ATAT US/3690HK/BABAUS

​Tencent's <civilization mobile> ranks second on iOS download chart, JD US to launch "Super 18" promo event, PDD US announces new requirements for...

Blue Lotus Research Institute

How to Stimulate China's Consumption, Part IV：Consumption Voucher Is Effective

​China's consumption subsidies have been quite conservative but actually effective. We expect more subsidies in 2H24 and far more in 2025. We...

Blue Lotus Research Institute

[Blue Lotus Daily-TMT Update]:PDD US/BABA US/JD US/VIPS/3690HK/1024 HK/1519HK/ZTO/TCOM/NTES/BILI/

​NBS releases social retail consumption data for June 2024, Kuaishou's AI-generated micro-drama receives positive reviews, and weekly parcel volume...

Blue Lotus Research Institute

Popular live streamer Dong Yuhui leaves East Buy, AliExpress fined for data privacy violation in Korea, and Guangdong Province allows games to be...

Online catering is thriving, while online tourism is declining. Kuaishou's video generation AI has over one million users. Meituan may expand food...

Tencent's <civilization mobile> ranks second on iOS download chart, JD US to launch "Super 18" promo event, PDD US announces new requirements for...

China's consumption subsidies have been quite conservative but actually effective. We expect more subsidies in 2H24 and far more in 2025. We...

NBS releases social retail consumption data for June 2024, Kuaishou's AI-generated micro-drama receives positive reviews, and weekly parcel volume...