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>Baba： Alibaba is to establish 6 business units and could pursue independent listings（+）</li>
<li>BIDU： Baidu release large-scale model "Wen Xin Qian Fan” for enterprise（+）</li>
<li>ATAT： Atour Lifestyle: Huazhu reported 4Q22 financial results and operating performance（+）； Accor striking on its own following departure from Huazhu and Jinjiang, opening new possiblities for collaboration（+）</li>
</ul>


Baba： Alibaba is to establish 6 business units and could pursue independent listings（+）
BIDU： Baidu release large-scale model "Wen Xin Qian Fan” for enterprise（+）
ATAT： Atour Lifestyle: Huazhu reported 4Q22 financial results and operating performance（+）； Accor striking on its own following departure from Huazhu and Jinjiang, opening new possiblities for collaboration（+）


China TMT Update (Mar.29): Baba/BIDU/ATAT: Alibaba Is to Establish 6 Business Units

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

MSCI Emerging Markets Index / Technical Analysis

<ul>
<li>In our February 6, 2023 EM Strategy, we discussed that we were buyers of the MSCI EM (EEM-US) on a pullback to the 50-day MA. </li>
<li>The pullback went a bit deeper but managed to hold at our $37.50 line-in-the-sand which we discussed in our recent ETF Pathfinder reports (Mar. 6 and Mar. 20, 2023).</li>
<li>The EEM-US displays a bullish 2-month downtrend reversal- add exposure. Signs continue to point to a topping DXY, and a declining DXY has historically resulted in EM outperformance (vs. EAFE).</li>
</ul>


In our February 6, 2023 EM Strategy, we discussed that we were buyers of the MSCI EM (EEM-US) on a pullback to the 50-day MA. 
The pullback went a bit deeper but managed to hold at our $37.50 line-in-the-sand which we discussed in our recent ETF Pathfinder reports (Mar. 6 and Mar. 20, 2023).
The EEM-US displays a bullish 2-month downtrend reversal- add exposure. Signs continue to point to a topping DXY, and a declining DXY has historically resulted in EM outperformance (vs. EAFE).


MSCI EM $EEM 2-Month Downtrend Reversal at Support -- Add Exposure. Upgrading Taiwan to Overweight

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.

Event-Driven

Zhejiang Leapmotor Technologie / Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/zhejiang-leapmotor-technology" target="_blank" data-smartkarma-citation="entities:35968:1" rel="noopener">Leapmotor (9863 HK)</a> raised around US$800m in its Hong Kong IPO, after pricing at the low-end. The stock was listed on 29th Sep 2022, its six-month lockup will expire soon.</li>
<li>LM is a smart EV company based in China, founded in 2015.</li>
<li>In this note, we will talk about the lock-up dynamics and updates since our last note.</li>
</ul>



Leapmotor (9863 HK) raised around US$800m in its Hong Kong IPO, after pricing at the low-end. The stock was listed on 29th Sep 2022, its six-month lockup will expire soon.
LM is a smart EV company based in China, founded in 2015.
In this note, we will talk about the lock-up dynamics and updates since our last note.


Leapmotor IPO Lock-Up - A Precursor to a Larger Release Later in the Year

<ul>
<li>BILI: Douyin launches a new APP "Qingtao", similar to BILI (-)</li>
<li>Baidu's ERNIE Bot exceeds expectations from user feedbacks (+); BABA/3635JP: &lt;Three Kingdoms: War Chess Version&gt; performance slightly above average (+/+)</li>
<li>BeiGene's termination of DKK1 collaboration with Leap is likely because its PD-L1 already got positive Phase III result on the same indication（/）</li>
</ul>


BILI: Douyin launches a new APP "Qingtao", similar to BILI (-)
Baidu's ERNIE Bot exceeds expectations from user feedbacks (+); BABA/3635JP: &lt;Three Kingdoms: War Chess Version&gt; performance slightly above average (+/+)
BeiGene's termination of DKK1 collaboration with Leap is likely because its PD-L1 already got positive Phase III result on the same indication（/）


China TMT Update(Mar.21): BILI/BIDU/BABA/3635.JP/BGNE - Douyin Launches "Qingtao", Similar to BILI

Articles from Caixin Global, Caixin Global

Caixin Global

Articles from Caixin Global

Caixin is a media group dedicated to providing financial and business news through periodicals, online content, mobile apps, conferences, books and TV/video programs. Caixin aims to blaze a trail that helps traditional media prosper in the new media age through integrated multimedia platforms.

News from Caixin

Cross Asset Strategy

<ul><li>Funds / Regulators tighten grip on China’s $2.9 trillion private fund industry</li><li>Fugitive / Fugitive billionaire Guo Wengui arrested in New York</li><li>Yuan / HKEX applies to launch yuan counter for Hong Kong-listed shares</li></ul>

Funds / Regulators tighten grip on China’s $2.9 trillion private fund industryFugitive / Fugitive billionaire Guo Wengui arrested in New YorkYuan / HKEX applies to launch yuan counter for Hong Kong-listed shares

CX Daily: Regulators Tighten Grip on China’s $2.9 Trillion Private Fund Industry

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)

China TMT Update (Mar.29): Baba/BIDU/ATAT: Alibaba Is to Establish 6 Business Units

Alibaba is to establish 6 business units and could pursue independent listings; BIDU： Baidu release large-scale model "Wen Xin Qian Fan” for...

Blue Lotus Research Institute

MSCI EM $EEM 2-Month Downtrend Reversal at Support -- Add Exposure. Upgrading Taiwan to Overweight

Signs continue to point to a topping $DXY, and a declining DXY has historically resulted in EM outperformance (vs. $EAFE). Many ideas in China/Hong...

Vermilion Research

Leapmotor IPO Lock-Up - A Precursor to a Larger Release Later in the Year

Leapmotor (9863 HK) raised around US$800m in its Hong Kong IPO, after pricing at the low-end. The stock was listed on 29th Sep 2022, its six-month...

Sumeet Singh

China TMT Update(Mar.21): BILI/BIDU/BABA/3635.JP/BGNE - Douyin Launches "Qingtao", Similar to BILI

BILI: Douyin launches "Qingtao", similar to BILI; BIDU: Baidu's ERNIE Bot exceeds expectations from user feedbacks BABA/3635JP: <Three Kingdoms:...

Blue Lotus Research Institute

CX Daily: Regulators Tighten Grip on China’s $2.9 Trillion Private Fund Industry

Regulators tighten grip on China’s $2.9 trillion private fund industry. Fugitive billionaire Guo Wengui arrested in New York. HKEX applies to...

Caixin Global

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