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>JD US/BABA US/3690 HK: Food Delivery Subsidy Rules Adjusted Again, Merchant Share Rises to 70% (+/+/+)</li>
<li>TCOM US: Stable Traffic Growth in Dragon Boat Festival Traffic(+)</li>
<li>TCOM US:Daily cross-border trips during Dragon Boat Festival holiday hit 2.15m (-)</li>
</ul>


JD US/BABA US/3690 HK: Food Delivery Subsidy Rules Adjusted Again, Merchant Share Rises to 70% (+/+/+)
TCOM US: Stable Traffic Growth in Dragon Boat Festival Traffic(+)
TCOM US:Daily cross-border trips during Dragon Boat Festival holiday hit 2.15m (-)


[Blue Lotus Daily-TMT Update]:JD US/BABA US/3690HK/TCOM US/1024HK/700HK/PONY US/BIDU US/WRD US/GOOGL

Podcast On the Business of Semiconductors, The Circuit

The Circuit

Podcast On the Business of Semiconductors

A Podcast On the Business of Semiconductors. With Jay Goldberg and Ben Bajarin

<ul><li>Computex focused heavily on AI and featured a lot of liquid cooling technology</li><li>Nvidia keynote at Computex introduced NVLink Fusion for custom CPUs, targeting vendors like Fujitsu</li><li>Debate arose over the relevance of NVLink Fusion for hyperscalers who are moving towards custom silicon to avoid reliance on Nvidia.</li></ul><p><em>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.</em></p>

Computex focused heavily on AI and featured a lot of liquid cooling technologyNvidia keynote at Computex introduced NVLink Fusion for custom CPUs, targeting vendors like FujitsuDebate arose over the relevance of NVLink Fusion for hyperscalers who are moving towards custom silicon to avoid reliance on Nvidia.This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Episode 119: Computex, Google I/O, Dell Tech World, and more

India Equity Analyst - Fundamental & Thematic, Beat the Street

Sudarshan Bhandari

India Equity Analyst - Fundamental & Thematic

Beat the Street

Beat The Street was founded by Nimish Maheshwari and Sudarshan Bhandari, both of whom are Chartered Accountants by Profession, known for their expert analysis in the fields of Business, Sectoral analysis, and Corporate governance.

With a strong social media presence of 45,000+ Subscribers across various platforms, they are considered trusted voices in the industry. Their insights and analysis have been featured in some of India’s most prominent publications, including the Economic Times, Dalal Street Investment Journal, The Morning Context, and The Ken.

Their analysis on Bankrupt & Insolvent companies has been instrumental in saving investors from significant losses. They have a keen eye for identifying red flags and has identified exclusive redflags earlier in Vedanta, Nykaa, Dhani Services, Adani and many more.

Read Business Not Stock Prices

Equity Derivatives

<ul>
<li>Adani Enterprises Limited (AEL) has incubated six publicly traded businesses across ports, power, transmission, renewable energy, city gas and FMCG.</li>
<li>The combined market capitalisation of businesses incubated by AEL stood at USD 94.3 billion as of March 31, 2026, according to the company.</li>
<li>The next value-unlocking candidates are airports, the new-energy ecosystem, data centres, roads and primary-materials. These businesses are larger and more capital-intensive, making execution and balance-sheet discipline central to the thesis.</li>
</ul>


Adani Enterprises Limited (AEL) has incubated six publicly traded businesses across ports, power, transmission, renewable energy, city gas and FMCG.
The combined market capitalisation of businesses incubated by AEL stood at USD 94.3 billion as of March 31, 2026, according to the company.
The next value-unlocking candidates are airports, the new-energy ecosystem, data centres, roads and primary-materials. These businesses are larger and more capital-intensive, making execution and balance-sheet discipline central to the thesis.


Adani Enterprises: India’s Biggest Business Incubator

Market & Forensics Analyst, Beat the Street

Nimish Maheshwari

Market & Forensics Analyst

<ul>
<li>Global companies are shifting supply chains, adopting the "China+1" strategy, with India emerging as a significant winner, attracting manufacturing and investment across sectors like electronics, EVs, and textiles.</li>
<li>India offers a strategic alternative to China, with favorable policies, a growing domestic market, and trade advantages, positioning itself as a manufacturing hub amid global trade shifts.</li>
<li>India is no longer just a backup for China; it's becoming the primary destination for global supply chains, reshaping the manufacturing ecosystem with deepening local integration and technological advancements.</li>
</ul>


Global companies are shifting supply chains, adopting the "China+1" strategy, with India emerging as a significant winner, attracting manufacturing and investment across sectors like electronics, EVs, and textiles.
India offers a strategic alternative to China, with favorable policies, a growing domestic market, and trade advantages, positioning itself as a manufacturing hub amid global trade shifts.
India is no longer just a backup for China; it's becoming the primary destination for global supply chains, reshaping the manufacturing ecosystem with deepening local integration and technological advancements.


Global Reshuffling: Whether India Will Win from China+1?

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Equity Capital Markets

Eoptolink Technology   / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/eoptolink-technology-inc-ltd" target="_blank" data-smartkarma-citation="entities:29558:1" rel="noopener">Eoptolink Technology (300502 CH)</a> one of the world’s largest optical transceiver manufacturers, aims to raise over &gt;US$3bn in its H-share listing.</li>
<li>Eoptolink was one of the global leaders in 2025 in optical modules, with its products being in high demand for data centers.</li>
<li>We have looked at the company’s past performance and undertaken a peer comparison in our earlier note. In this note, we will talk about valuations.</li>
</ul>



Eoptolink Technology (300502 CH) one of the world’s largest optical transceiver manufacturers, aims to raise over &gt;US$3bn in its H-share listing.
Eoptolink was one of the global leaders in 2025 in optical modules, with its products being in high demand for data centers.
We have looked at the company’s past performance and undertaken a peer comparison in our earlier note. In this note, we will talk about valuations.


Aequitas: Eoptolink A/H Listing - Thoughts on Valuations

United States

Alphabet Inc. operates as a holding company. The Company, through its subsidiaries, provides web-based search, advertisements, maps, software applications, mobile operating systems, consumer content, enterprise solutions, commerce, and hardware products.

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Alphabet (GOOGL US)

[Blue Lotus Daily-TMT Update]:JD US/BABA US/3690HK/TCOM US/1024HK/700HK/PONY US/BIDU US/WRD US/GOOGL

Food delivery subsidy rules adjusted, merchant share rises to 70%. Stable traffic growth for TCOM during Dragon Boat Festival, but daily cross...

Blue Lotus Research Institute

Episode 119: Computex, Google I/O, Dell Tech World, and more

AI technology, liquid cooling, and Nvidia's NVLink Fusion networking solution were key themes at Computex, sparking industry discussions about...

The Circuit

Adani Enterprises: India’s Biggest Business Incubator

Adani Enterprises: How one listed company repeatedly built new businesses, scaled them into category leaders and unlocked value for shareholders?

Sudarshan Bhandari

Global Reshuffling: Whether India Will Win from China+1?

Global companies are turning to India as a strategic alternative to China, shifting supply chains and investments across various sectors,...

Nimish Maheshwari

Aequitas: Eoptolink A/H Listing - Thoughts on Valuations

Eoptolink Technology (300502 CH) one of the world’s largest optical transceiver manufacturers, aims to raise over >US$3bn in its H-share listing....

Sumeet Singh

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52-week Range

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P/E

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[Blue Lotus Daily-TMT Update]:JD US/BABA US/3690HK/TCOM US/1024HK/700HK/PONY US/BIDU US/WRD US/GOOGL

​Food delivery subsidy rules adjusted, merchant share rises to 70%. Stable traffic growth for TCOM during Dragon Boat Festival, but daily cross...

Blue Lotus Research Institute

Episode 119: Computex, Google I/O, Dell Tech World, and more

AI technology, liquid cooling, and Nvidia's NVLink Fusion networking solution were key themes at Computex, sparking industry discussions about...

The Circuit

Adani Enterprises: India’s Biggest Business Incubator

Adani Enterprises: How one listed company repeatedly built new businesses, scaled them into category leaders and unlocked value for shareholders?

Sudarshan Bhandari

Global Reshuffling: Whether India Will Win from China+1?

​Global companies are turning to India as a strategic alternative to China, shifting supply chains and investments across various sectors,...

Nimish Maheshwari

Aequitas: Eoptolink A/H Listing - Thoughts on Valuations

Eoptolink Technology (300502 CH) one of the world’s largest optical transceiver manufacturers, aims to raise over >US$3bn in its H-share listing....

Sumeet Singh

Food delivery subsidy rules adjusted, merchant share rises to 70%. Stable traffic growth for TCOM during Dragon Boat Festival, but daily cross...

Global companies are turning to India as a strategic alternative to China, shifting supply chains and investments across various sectors,...