Covering IPOs, Healthcare and Technology Stocks

Andrei Zakharov

Equity Capital Markets

<ul>
<li>CiDi, a China's leading provider of AD technology for commercial vehicles, will tap equity markets in Hong Kong for growth capital.</li>
<li>The autonomous driving company with focus on autonomous mining and logistics trucks, V2X technologies, and high-performance perception solutions, filed its IPO prospectus.</li>
<li>I like CiDi’s leadership position in autonomous mining industry, hyper-growth trajectory and differentiated full-stack autonomous mining solution.</li>
</ul>


CiDi, a China's leading provider of AD technology for commercial vehicles, will tap equity markets in Hong Kong for growth capital.
The autonomous driving company with focus on autonomous mining and logistics trucks, V2X technologies, and high-performance perception solutions, filed its IPO prospectus.
I like CiDi’s leadership position in autonomous mining industry, hyper-growth trajectory and differentiated full-stack autonomous mining solution.


CiDi IPO Preview: Uniquely Positioned For Growth In Autonomous Mining and Logistics Trucks

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>3690 HK/ JD US: Yonghui Superstores and Meituan Begin Cooperation.（+/-）</li>
<li>700 HK: Tencent Announces New Mobile Game &lt;Monster Hunter: Traveler&gt; in Collaboration with CAPCOM (+)</li>
<li>700 HK: Ex-CAPCOM Renowned Game Producer Joins Tencent’s Lightspeed Japan Studio (+)</li>
</ul>


3690 HK/ JD US: Yonghui Superstores and Meituan Begin Cooperation.（+/-）
700 HK: Tencent Announces New Mobile Game &lt;Monster Hunter: Traveler&gt; in Collaboration with CAPCOM (+)
700 HK: Ex-CAPCOM Renowned Game Producer Joins Tencent’s Lightspeed Japan Studio (+)


[Blue Lotus Daily-TMT Update]:3690 HK/JD US/700 HK/BIDU US/BABA US/PDD US

Blue Lotus China New Economy Research, Blue Lotus Research Institute

Eric Wen

Blue Lotus China New Economy Research

<ul>
<li>BEKE US: Government cut property transaction related taxes, saving 2.5%-4.5% of transaction costs per unit(+)</li>
<li>1211 HK/TSLA US/1810 HK/XPEV US/NIO US/LI US: EV deliveries in the 45th week of 2024, Xiaomi rebounds, Tesla is strong, NIO and Xpeng are weak （///////////）</li>
<li>ATAT US: Atour Pillow's Double 11 Sales Exceed Expectations, Reaching RMB520mn（+）</li>
</ul>


BEKE US: Government cut property transaction related taxes, saving 2.5%-4.5% of transaction costs per unit(+)
1211 HK/TSLA US/1810 HK/XPEV US/NIO US/LI US: EV deliveries in the 45th week of 2024, Xiaomi rebounds, Tesla is strong, NIO and Xpeng are weak （///////////）
ATAT US: Atour Pillow's Double 11 Sales Exceed Expectations, Reaching RMB520mn（+）


[Blue Lotus Daily]:BEKE US/1211 HK/TSLA US/1810 HK/XPEV US/NIO US/LI US/ATAT US/BIDU US

<ul>
<li>JD US/3690 HK:JD.com to Launch Self-operated On-Demand Delivery Service. (+/-)</li>
<li>JD US/BABA US/1810 HK:Shanghai expands the products eligible for home appliance subsidies (+/+/+)</li>
<li>BABA US / 700 HK: Alipay suffers brief outage. (-/+)</li>
</ul>


JD US/3690 HK:JD.com to Launch Self-operated On-Demand Delivery Service. (+/-)
JD US/BABA US/1810 HK:Shanghai expands the products eligible for home appliance subsidies (+/+/+)
BABA US / 700 HK: Alipay suffers brief outage. (-/+)


[Blue Lotus Daily-TMT Update]:JD/3690 HK/BABA/1810 HK/700 HK/BILI/1024 HK/BIDU/20 HK/NTES/SE/GRAB

Analyst - Media&Entertainment Sector, Blue Lotus Research Institute

Stan Zhao

Analyst - Media&Entertainment Sector

Equity Bottom-Up

<ul>
<li>Tesla's Cybercab is expected to be under $30,000 in price, with production costs of  ~$25,000 and operating costs of 30-40 cents per mile.</li>
<li>We found Baidu's robotaxi to be faces 50% higher daily total costs and runs a fleet of 600 autonomous vehicles.</li>
<li>To compete with Tesla’s Cybercab by 2026, Baidu must significantly reduce its operating costs. Tesla's lower price and efficiency could capture a larger market share.</li>
</ul>


Tesla's Cybercab is expected to be under $30,000 in price, with production costs of  ~$25,000 and operating costs of 30-40 cents per mile.
We found Baidu's robotaxi to be faces 50% higher daily total costs and runs a fleet of 600 autonomous vehicles.
To compete with Tesla’s Cybercab by 2026, Baidu must significantly reduce its operating costs. Tesla's lower price and efficiency could capture a larger market share.


A Comparison of Tesla’s Cybercab and Baidu’s Apollo Shows the Latter Must Improve

China

Baidu, Inc. operates an Internet search engine. The Company offers algorithmic search, enterprise search, news, MP3, and image searches, voice assistance, online storage, and navigation services. Baidu serves clients globally.

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Baidu (BIDU US)

CiDi IPO Preview: Uniquely Positioned For Growth In Autonomous Mining and Logistics Trucks

CiDi, a China’s provider of driverless mining trucks and V2X technologies, filed to go public in Hong Kong. The company has a strong potential for...

Andrei Zakharov

[Blue Lotus Daily-TMT Update]:3690 HK/JD US/700 HK/BIDU US/BABA US/PDD US

Yonghui Superstores and Meituan partner up, Tencent announces new mobile game collaboration with CAPCOM and hires ex-CAPCOM producer for...

Blue Lotus Research Institute

[Blue Lotus Daily]:BEKE US/1211 HK/TSLA US/1810 HK/XPEV US/NIO US/LI US/ATAT US/BIDU US

Government in BEKE US cuts property transaction taxes, saving 2.5%-4.5% per unit; EV deliveries mixed in 45th week, Atour Pillow's Double 11 sales...

Blue Lotus Research Institute

[Blue Lotus Daily-TMT Update]:JD/3690 HK/BABA/1810 HK/700 HK/BILI/1024 HK/BIDU/20 HK/NTES/SE/GRAB

JD.com is launching a self-operated on-demand delivery service, Shanghai expands home appliance subsidies, and Alipay experiences a brief outage.

Blue Lotus Research Institute

A Comparison of Tesla’s Cybercab and Baidu’s Apollo Shows the Latter Must Improve

Baidu's robotaxi Apollo faces higher costs to build and operate than Tesla's Cybercab and Baidu must reduce operating costs to compete effectively...

Blue Lotus Research Institute

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

CiDi IPO Preview: Uniquely Positioned For Growth In Autonomous Mining and Logistics Trucks

CiDi, a China’s provider of driverless mining trucks and V2X technologies, filed to go public in Hong Kong. The company has a strong potential for...

Andrei Zakharov

[Blue Lotus Daily-TMT Update]:3690 HK/JD US/700 HK/BIDU US/BABA US/PDD US

​Yonghui Superstores and Meituan partner up, Tencent announces new mobile game collaboration with CAPCOM and hires ex-CAPCOM producer for...

Blue Lotus Research Institute

[Blue Lotus Daily]:BEKE US/1211 HK/TSLA US/1810 HK/XPEV US/NIO US/LI US/ATAT US/BIDU US

​Government in BEKE US cuts property transaction taxes, saving 2.5%-4.5% per unit; EV deliveries mixed in 45th week, Atour Pillow's Double 11 sales...

Blue Lotus Research Institute

[Blue Lotus Daily-TMT Update]:JD/3690 HK/BABA/1810 HK/700 HK/BILI/1024 HK/BIDU/20 HK/NTES/SE/GRAB

​JD.com is launching a self-operated on-demand delivery service, Shanghai expands home appliance subsidies, and Alipay experiences a brief outage.

Blue Lotus Research Institute

A Comparison of Tesla’s Cybercab and Baidu’s Apollo Shows the Latter Must Improve

​Baidu's robotaxi Apollo faces higher costs to build and operate than Tesla's Cybercab and Baidu must reduce operating costs to compete effectively...

Blue Lotus Research Institute

Yonghui Superstores and Meituan partner up, Tencent announces new mobile game collaboration with CAPCOM and hires ex-CAPCOM producer for...

Government in BEKE US cuts property transaction taxes, saving 2.5%-4.5% per unit; EV deliveries mixed in 45th week, Atour Pillow's Double 11 sales...

JD.com is launching a self-operated on-demand delivery service, Shanghai expands home appliance subsidies, and Alipay experiences a brief outage.

Baidu's robotaxi Apollo faces higher costs to build and operate than Tesla's Cybercab and Baidu must reduce operating costs to compete effectively...