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>Luckin Coffee: Luckin Coffee sold 39mn cups of coffee in the first week of full launch of RMB9.9 per cup.</li>
<li>Nayuki: Media report that Nayuki may begin the franchise business in July</li>
<li>3690.HK/Douyin app is currently creating independent "entrances" and a "mall" for food delivery.</li>
</ul>


Luckin Coffee: Luckin Coffee sold 39mn cups of coffee in the first week of full launch of RMB9.9 per cup.
Nayuki: Media report that Nayuki may begin the franchise business in July
3690.HK/Douyin app is currently creating independent "entrances" and a "mall" for food delivery.


China TMT Update June 14-Luckin/Nayuki/3690.HK:Luckin Sold 39mn Cups of Coffee in the First Week

<ul>
<li>LKNCY: Luckin Coffee opened No.10k store, and extended discount coupon coverage (-)</li>
<li>U US: Apple provides Unity with unique development privileges for Vision Pro (+)</li>
<li>CPNG US: a congestion in the customs clearance process at Pyeongtaek Port due to a surge in packages from Chinese e-commerce platforms.(-)</li>
</ul>


LKNCY: Luckin Coffee opened No.10k store, and extended discount coupon coverage (-)
U US: Apple provides Unity with unique development privileges for Vision Pro (+)
CPNG US: a congestion in the customs clearance process at Pyeongtaek Port due to a surge in packages from Chinese e-commerce platforms.(-)


China/Asia TMT Update- Luckin/Unity/Coupang:No.10k Store, Apple Vision Pro, Congestion at Pyeongtaek

<ul>
<li>PDD: Pinduoduo starts its "618 Opening Red" campaign, investing 5 billion RMB and offering subsidies for 4 consecutive days</li>
<li>Tencent: Streamers and players indicate that there have been a large number of AI-controlled bots appearing in the matches of the game "Honor of Kings".</li>
<li>LKNCY: COTTI Coffee opened its No.3000 stores, and Luckin Coffee is going to open its No.10k store.(/)</li>
</ul>


PDD: Pinduoduo starts its "618 Opening Red" campaign, investing 5 billion RMB and offering subsidies for 4 consecutive days
Tencent: Streamers and players indicate that there have been a large number of AI-controlled bots appearing in the matches of the game "Honor of Kings".
LKNCY: COTTI Coffee opened its No.3000 stores, and Luckin Coffee is going to open its No.10k store.(/)


China TMT Update June 2 - PDD/700.HK/LKNCY: Pinduoduo Starts "618 " Campaign, Investing 5 Bn RMB

Equity Bottom-Up

<ul>
<li>Cotti Coffee has become a head-to-head competitor of Mixue’s Lucky Cup, and to a lesser degree, Luckin. </li>
<li>But what is behind Cotti’s agenda, in our view, is its founder Charles Lu’s aspiration to return to Luckin;</li>
<li>The biggest obstacle for Charles to repeat the playbook of Steve Jobs is Chinese security regulator’s refusal, so far, to allow franchised chain to list</li>
</ul>


Cotti Coffee has become a head-to-head competitor of Mixue’s Lucky Cup, and to a lesser degree, Luckin. 
But what is behind Cotti’s agenda, in our view, is its founder Charles Lu’s aspiration to return to Luckin;
The biggest obstacle for Charles to repeat the playbook of Steve Jobs is Chinese security regulator’s refusal, so far, to allow franchised chain to list


[Luckin Coffee Inc. (LKNCY US) Company Update]: Is Cotti Coffee Charles Lu’ NeXT Computer?

<ul>
<li>NTES: Justice Mobile launches 2nd round of closed beta test (-)</li>
<li>PDD: PDD announces RMB 4bn in subsidies for annual May 5th Shopping Festival (+)</li>
<li>LKNCY/2150HK/ATAT: Labor Day holiday Tourism consumption recovered to pre-covid level in labor day holiday, and catering sector is leading the retail recovery trend.(+)</li>
</ul>


NTES: Justice Mobile launches 2nd round of closed beta test (-)
PDD: PDD announces RMB 4bn in subsidies for annual May 5th Shopping Festival (+)
LKNCY/2150HK/ATAT: Labor Day holiday Tourism consumption recovered to pre-covid level in labor day holiday, and catering sector is leading the retail recovery trend.(+)


China TMT Update (May 5-Pt1): NTES/PDD/LKNCY/2150HK/ATAT：Justice Mobile Launches 2nd Round Test

China

Luckin Coffee Inc. provides non-alcoholic beverages. The Company offers various types of coffee. Luckin Coffee serves customers in China.

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Luckin Coffee (LKNCY US)

China TMT Update June 14-Luckin/Nayuki/3690.HK:Luckin Sold 39mn Cups of Coffee in the First Week

Luckin Coffee: 39mn cups in the first week of full launch of RMB9.9 per cup. Nayuki: Nayuki may begin the franchise business in July. 3690.HK:...

Blue Lotus Research Institute

China/Asia TMT Update- Luckin/Unity/Coupang:No.10k Store, Apple Vision Pro, Congestion at Pyeongtaek

LKNCY: Luckin Coffee opened No.10k store (-)；U US: Apple provides Unity with unique development privileges for Vision Pro (+)；CPNG US: a congestion...

Blue Lotus Research Institute

China TMT Update June 2 - PDD/700.HK/LKNCY: Pinduoduo Starts "618 " Campaign, Investing 5 Bn RMB

PDD: Pinduoduo starts "618 Opening Red" campaign；Tencent: a large number of AI-controlled bots in "Honor of Kings"；LKNCY: COTTI Coffee opened...

Blue Lotus Research Institute

[Luckin Coffee Inc. (LKNCY US) Company Update]: Is Cotti Coffee Charles Lu’ NeXT Computer?

Cotti Coffee has become a head-to-head competitor of Mixue’s Lucky Cup, and to a lesser degree, Luckin. What is behind Cotti’s agenda is its...

Blue Lotus Research Institute

China TMT Update (May 5-Pt1): NTES/PDD/LKNCY/2150HK/ATAT：Justice Mobile Launches 2nd Round Test

Labor Day holiday Tourism consumption recovered.(+) NTES: Justice Mobile launches 2nd round of closed beta test (-) PDD: PDD announces RMB 4bn in...

Blue Lotus Research Institute

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