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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.

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Cross Asset Strategy

<ul><li>Law / Cover Story: China writes first legal rulebook to strengthen its vital private sector</li><li>Drugs /In Depth: Popular overseas expansion strategy holds pitfalls for Chinese drug developers</li><li>Jobs /Analysis: How China can cushion jobs blow from Trump’s trade war</li></ul>

Law / Cover Story: China writes first legal rulebook to strengthen its vital private sectorDrugs /In Depth: Popular overseas expansion strategy holds pitfalls for Chinese drug developersJobs /Analysis: How China can cushion jobs blow from Trump’s trade war

CX Daily: China Writes First Legal Rulebook to Strengthen Its Vital Private Sector 

Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Douglas Research Advisory

<ul>
<li>Paul Atkins, the new head of U.S. SEC could accelerate the delisting of Chinese stocks from the U.S. stock exchanges. </li>
<li>There are about 280 companies from mainland China that are listed in the U.S. with a combined market cap of about $880 billion.</li>
<li>There could be two major reasons to accelerate this delisting (require Chinese companies to abide by US GAAP accounting and fully delist Chinese companies with ties to Chinese military).</li>
</ul>


Paul Atkins, the new head of U.S. SEC could accelerate the delisting of Chinese stocks from the U.S. stock exchanges. 
There are about 280 companies from mainland China that are listed in the U.S. with a combined market cap of about $880 billion.
There could be two major reasons to accelerate this delisting (require Chinese companies to abide by US GAAP accounting and fully delist Chinese companies with ties to Chinese military).


Atkins to Accelerate the Delisting of Chinese Stocks From the US Stock Exchanges in 2025/2026?

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>Our take is JD.com's expansion to O2O/Food Delivery is still measured and constrained. It mainly serves the premium members;</li>
<li>Meituan, PDD' and Beike posted results broadly both in-line/slightly exceed expectations. Meituan and Beike raised AI capex while PDD and JD.com didn't mention;</li>
<li>Game received first official recognition in government's 30 stimulative measures for consumption.  Our TOP PICK is NTES.</li>
</ul>


Our take is JD.com's expansion to O2O/Food Delivery is still measured and constrained. It mainly serves the premium members;
Meituan, PDD' and Beike posted results broadly both in-line/slightly exceed expectations. Meituan and Beike raised AI capex while PDD and JD.com didn't mention;
Game received first official recognition in government's 30 stimulative measures for consumption.  Our TOP PICK is NTES.


[Blue Lotus Non-US Internet Weekly, 12/52]: The Tug of War Between JD and Meituan Intensifies

<ul>
<li>Competitors tried to leverage LLM to capture Baidu's search market share;</li>
<li>JD.com is actively seeking new, post-subsidy growth drivers, the latest being Europe while Red Notes launched US expansion. Deliveroo ceded HK market to Meituan;</li>
<li>NetEase competitor announced major layoffs. Weibo disappointed in its C4Q24 earnings. Kingsoft has a winner game in pocket.</li>
</ul>


Competitors tried to leverage LLM to capture Baidu's search market share;
JD.com is actively seeking new, post-subsidy growth drivers, the latest being Europe while Red Notes launched US expansion. Deliveroo ceded HK market to Meituan;
NetEase competitor announced major layoffs. Weibo disappointed in its C4Q24 earnings. Kingsoft has a winner game in pocket.


[Blue Lotus Non-US Internet Weekly, 11/52]: Chinese Internet Making Inroads Overseas

Analyst - Media&Entertainment Sector, Blue Lotus Research Institute

Stan Zhao

Analyst - Media&Entertainment Sector

<ul>
<li>DeepSeek's (DS) low-cost, high-performance open-source model fundamentally altered the AI landscape, but server overload of DS's chatbot caused poor user experience;</li>
<li>Among many Internet platforms that integrated DS into their products, Tencent stood to benefit the most. Through DS, Tencent LLM climbed 3 spots to unseat ByteDance to become the No.1;</li>
<li>What Tencent has done right including preprocessing, answer caching and building dedicated nodes. Now Manus is catching the imagination of AI monetization, Tencent can possible benefit more.</li>
</ul>


DeepSeek's (DS) low-cost, high-performance open-source model fundamentally altered the AI landscape, but server overload of DS's chatbot caused poor user experience;
Among many Internet platforms that integrated DS into their products, Tencent stood to benefit the most. Through DS, Tencent LLM climbed 3 spots to unseat ByteDance to become the No.1;
What Tencent has done right including preprocessing, answer caching and building dedicated nodes. Now Manus is catching the imagination of AI monetization, Tencent can possible benefit more.


Surprise! The Biggest Beneficiary of Cloud DeepSeek Is Tencent...Will Manus Be the Same?

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)

CX Daily: China Writes First Legal Rulebook to Strengthen Its Vital Private Sector

TOP STORIES Law / Cover Story: China writes first legal rulebook to strengthen its vital private sector China is fast-tracking a landmark law to...

Caixin Global

Atkins to Accelerate the Delisting of Chinese Stocks From the US Stock Exchanges in 2025/2026?

Paul Atkins, the new head of US SEC could accelerate delisting of Chinese stocks from the US stock exchanges. Chinese companies listed in the US...

Douglas Kim

[Blue Lotus Non-US Internet Weekly, 12/52]: The Tug of War Between JD and Meituan Intensifies

JD.com's measured expansion into O2O/Food Delivery targets premium members. Government recognition of gaming in consumption stimulus measures...

Blue Lotus Research Institute

[Blue Lotus Non-US Internet Weekly, 11/52]: Chinese Internet Making Inroads Overseas

Competitors target Baidu's search market, JD.com seeks new growth in Europe, Weibo disappoints in earnings, Kingsoft has successful game.

Blue Lotus Research Institute

Surprise! The Biggest Beneficiary of Cloud DeepSeek Is Tencent...Will Manus Be the Same?

DeepSeek-R1's integration into Tencent's AI assistant "Yuanbao" improves user experience and boosts the latter users to 17 mn. Tencent also did a...

Blue Lotus Research Institute

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

CX Daily: China Writes First Legal Rulebook to Strengthen Its Vital Private Sector

TOP STORIES Law / Cover Story: China writes first legal rulebook to strengthen its vital private sector China is fast-tracking a landmark law to...

Caixin Global

Atkins to Accelerate the Delisting of Chinese Stocks From the US Stock Exchanges in 2025/2026?

Paul Atkins, the new head of US SEC could accelerate delisting of Chinese stocks from the US stock exchanges. Chinese companies listed in the US...

Douglas Kim

[Blue Lotus Non-US Internet Weekly, 12/52]: The Tug of War Between JD and Meituan Intensifies

​JD.com's measured expansion into O2O/Food Delivery targets premium members. Government recognition of gaming in consumption stimulus measures...

Blue Lotus Research Institute

[Blue Lotus Non-US Internet Weekly, 11/52]: Chinese Internet Making Inroads Overseas

​Competitors target Baidu's search market, JD.com seeks new growth in Europe, Weibo disappoints in earnings, Kingsoft has successful game.

Blue Lotus Research Institute

Surprise! The Biggest Beneficiary of Cloud DeepSeek Is Tencent...Will Manus Be the Same?

​DeepSeek-R1's integration into Tencent's AI assistant "Yuanbao" improves user experience and boosts the latter users to 17 mn. Tencent also did a...

Blue Lotus Research Institute

JD.com's measured expansion into O2O/Food Delivery targets premium members. Government recognition of gaming in consumption stimulus measures...

Competitors target Baidu's search market, JD.com seeks new growth in Europe, Weibo disappoints in earnings, Kingsoft has successful game.

DeepSeek-R1's integration into Tencent's AI assistant "Yuanbao" improves user experience and boosts the latter users to 17 mn. Tencent also did a...