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>1211 HK: Tesla's German factory caught on arson, interrupting production for a week (-)</li>
<li>BZ: Government’s 2024 new job creation guidance is relatively soft. (-)</li>
<li>9926 HK/9995 HK/1801 HK/1877 HK/BGNE: US senator move forward with bill to constrain Wuxi Apptec-（/）</li>
</ul>


1211 HK: Tesla's German factory caught on arson, interrupting production for a week (-)
BZ: Government’s 2024 new job creation guidance is relatively soft. (-)
9926 HK/9995 HK/1801 HK/1877 HK/BGNE: US senator move forward with bill to constrain Wuxi Apptec-（/）


[Blue Lotus Daily]:XPEV/LI/NIO/ 1211 HK/BZ/9926 HK/9995 HK/1801 HK/1877 HK/BGNE

Global Healthcare Analyst

Tina Banerjee

Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/hansoh-pharmaceutical-group-company-limited" target="_blank" data-smartkarma-citation="entities:23675:1" rel="noopener">Hansoh Pharmaceutical (3692 HK)</a> posted 12% revenue growth to RMB 8.3B with net profit increasing 36% YoY to RMB 4.3B, on innovative drugs and also other income.</li>
<li>In 1H26, revenue of innovative medicines increased 15% YoY to RMB 7.1B and accounted for 85% (2024: 82%) of the revenue, becoming a core driver for sustainable growth.</li>
<li>Along with providing long-term revenue visibility, innovative pipeline is well-positioned to proactively seize opportunities for out-licensing and collaboration, enabling the company to explore the ex-China commercialization potential of its pipeline.</li>
</ul>



Hansoh Pharmaceutical (3692 HK) posted 12% revenue growth to RMB 8.3B with net profit increasing 36% YoY to RMB 4.3B, on innovative drugs and also other income.
In 1H26, revenue of innovative medicines increased 15% YoY to RMB 7.1B and accounted for 85% (2024: 82%) of the revenue, becoming a core driver for sustainable growth.
Along with providing long-term revenue visibility, innovative pipeline is well-positioned to proactively seize opportunities for out-licensing and collaboration, enabling the company to explore the ex-China commercialization potential of its pipeline.


Hansoh Pharma (3692 HK): Rich Pipeline To Help Traverse Future Growth Path, After Robust 1H26

<ul>
<li>ATAT/TCOM: Tourism: Local government will issue RMB600mn travel consumption subsidies during CNY(+)</li>
<li>9995 HK/BGNE/9926 HK/1801 HK/1877 HK:The National Medical Insurance Administration issued new regulations on the initial price of newly launched drugs to protect the independent pricing of innovative drugs.(/)</li>
<li>300750 SZ：Porsche's new Taycan doubles cruising range, uses CATL Shenxing battery(+)</li>
</ul>


ATAT/TCOM: Tourism: Local government will issue RMB600mn travel consumption subsidies during CNY(+)
9995 HK/BGNE/9926 HK/1801 HK/1877 HK:The National Medical Insurance Administration issued new regulations on the initial price of newly launched drugs to protect the independent pricing of innovative drugs.(/)
300750 SZ：Porsche's new Taycan doubles cruising range, uses CATL Shenxing battery(+)


[Blue Lotus Daily]: LKNCY/ZLAB/9995 HK/BGNE/9926 HK/1801 HK/1877 HK/ATAT/TCOM/1211 HK/LI/NIO/XPEV

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

iShares MSCI Emerging Markets / Technical Analysis

<ul>
<li>In our prior EM Strategy (October 2) we discussed that as long as EEM-US is above our important line-in-the-sand at $37, we were buyers on the pullback.</li>
<li>This support level held and EEM-US now displays a bullish 3-month downtrend reversal as the DXY appears to be breaking below $105.70, all bullish signals signaling additional upside-- buy.</li>
<li>We are bullish as long as $36.50-$37 support holds on EEM-US. Our first target is $42, which is 1.5+ year resistance. Remain overweight India, and we're upgrading Poland/Greece to overweight</li>
</ul>


In our prior EM Strategy (October 2) we discussed that as long as EEM-US is above our important line-in-the-sand at $37, we were buyers on the pullback.
This support level held and EEM-US now displays a bullish 3-month downtrend reversal as the DXY appears to be breaking below $105.70, all bullish signals signaling additional upside-- buy.
We are bullish as long as $36.50-$37 support holds on EEM-US. Our first target is $42, which is 1.5+ year resistance. Remain overweight India, and we're upgrading Poland/Greece to overweight


MSCI EM Index Reversing 3-Month Downtrend -- Buy. Remain Overweight India, Upgrading Poland & Greece

China/Asia TMT

Shawn Yang

<ul>
<li>Baba's recent management change - Daniel Zhang proposed stepping down</li>
<li>NHC Director said healthcare anti-corruption must balance pros and cons, suggesting the campaign might nearing its end</li>
<li>Alibaba's subsidiary, Lingxi Games, has released a self-developed new mobile game called "Forest Kingdom." (森之国度) </li>
</ul>


Baba's recent management change - Daniel Zhang proposed stepping down
NHC Director said healthcare anti-corruption must balance pros and cons, suggesting the campaign might nearing its end
Alibaba's subsidiary, Lingxi Games, has released a self-developed new mobile game called "Forest Kingdom." (森之国度) 


China TMT Update-Baba/Healthcare-Daniel Zhang Stepping Down/ Anti-Corruption Might Nearing Its End

China

Akeso is a biopharmaceutical company focused on the research, development, manufacturing, and commercialization of innovative antibody drugs. It develops treatments for major diseases such as cancer, autoimmune diseases, inflammation, and metabolic diseases, with key products including cadonilimab, ivonescimab, and penpulimab. The company was founded in 2012 and is headquartered in Zhongshan, Guangdong, China.

Price Gauge
52-week Range	0.00 - 0.00
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Akeso (9926 HK)

[Blue Lotus Daily]:XPEV/LI/NIO/ 1211 HK/BZ/9926 HK/9995 HK/1801 HK/1877 HK/BGNE

Arson at Tesla's German factory halts production for a week, government's job creation guidance for 2024 is lacking, US senator pushes bill to...

Blue Lotus Research Institute

Hansoh Pharma (3692 HK): Rich Pipeline To Help Traverse Future Growth Path, After Robust 1H26

Hansoh Pharma posted robust 1H26 results as innovative drugs contribution rose. Rich innovative pipeline will help provide long-term revenue...

Tina Banerjee

[Blue Lotus Daily]: LKNCY/ZLAB/9995 HK/BGNE/9926 HK/1801 HK/1877 HK/ATAT/TCOM/1211 HK/LI/NIO/XPEV

Local government plans to provide RMB600mn in travel subsidies; new regulations protect pricing of innovative drugs; Porsche's Taycan now has...

Blue Lotus Research Institute

MSCI EM Index Reversing 3-Month Downtrend -- Buy. Remain Overweight India, Upgrading Poland & Greece

In our prior EM Strategy (10/2/23) we discussed that, if $EEM is above $37, we were buyers on the pullback. Support held and now EEM displays a...

Vermilion Research

China TMT Update-Baba/Healthcare-Daniel Zhang Stepping Down/ Anti-Corruption Might Nearing Its End

Daniel Zhang proposed stepping down;NHC Director said healthcare anti-corruption must balance pros and cons, suggesting the campaign nearing its...

Blue Lotus Research Institute

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

[Blue Lotus Daily]:XPEV/LI/NIO/ 1211 HK/BZ/9926 HK/9995 HK/1801 HK/1877 HK/BGNE

​Arson at Tesla's German factory halts production for a week, government's job creation guidance for 2024 is lacking, US senator pushes bill to...

Blue Lotus Research Institute

Hansoh Pharma (3692 HK): Rich Pipeline To Help Traverse Future Growth Path, After Robust 1H26

Hansoh Pharma posted robust 1H26 results as innovative drugs contribution rose. Rich innovative pipeline will help provide long-term revenue...

Tina Banerjee

[Blue Lotus Daily]: LKNCY/ZLAB/9995 HK/BGNE/9926 HK/1801 HK/1877 HK/ATAT/TCOM/1211 HK/LI/NIO/XPEV

​Local government plans to provide RMB600mn in travel subsidies; new regulations protect pricing of innovative drugs; Porsche's Taycan now has...

Blue Lotus Research Institute

MSCI EM Index Reversing 3-Month Downtrend -- Buy. Remain Overweight India, Upgrading Poland & Greece

In our prior EM Strategy (10/2/23) we discussed that, if $EEM is above $37, we were buyers on the pullback. Support held and now EEM displays a...

Vermilion Research

China TMT Update-Baba/Healthcare-Daniel Zhang Stepping Down/ Anti-Corruption Might Nearing Its End

Daniel Zhang proposed stepping down;NHC Director said healthcare anti-corruption must balance pros and cons, suggesting the campaign nearing its...

Blue Lotus Research Institute

Arson at Tesla's German factory halts production for a week, government's job creation guidance for 2024 is lacking, US senator pushes bill to...

Local government plans to provide RMB600mn in travel subsidies; new regulations protect pricing of innovative drugs; Porsche's Taycan now has...