Analyst - Media&Entertainment Sector, Blue Lotus Research Institute

Stan Zhao

Analyst - Media&Entertainment Sector

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>The two new titles released in December, &lt;One Piece: Ambition&gt; and &lt;Where Winds Meet&gt;, from Tencent and NetEase, have shown promising early results and should become major blockbusters in 2025</li>
<li>For Tencent, the holiday updates for &lt;DnF Mobile&gt; and &lt;Arena Breakout&gt; have underperformed, leading us to revise our revenue expectations downward by approximately 10%.</li>
<li>Bilibili's key title, &lt;Three Kingdoms: MDTX&gt;, has seen a slight decline in popularity,  due to the intense competition in the SLG genre. The future seasonal updates could rejuvenate the performance.</li>
</ul>


The two new titles released in December, &lt;One Piece: Ambition&gt; and &lt;Where Winds Meet&gt;, from Tencent and NetEase, have shown promising early results and should become major blockbusters in 2025
For Tencent, the holiday updates for &lt;DnF Mobile&gt; and &lt;Arena Breakout&gt; have underperformed, leading us to revise our revenue expectations downward by approximately 10%.
Bilibili's key title, &lt;Three Kingdoms: MDTX&gt;, has seen a slight decline in popularity,  due to the intense competition in the SLG genre. The future seasonal updates could rejuvenate the performance.


China Online Game Grossing Monitor: December 16, 2024 - January‌ 4, 2025

Pan-Asia Index Rebalances/ Events/ Delta One, Periscope Analytics

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Periscope Analytics

Periscope Analytics focuses on event-driven trades across Asia Pacific and provides comprehensive, timely and systematic coverage of index changes to major Asia Pacific indices in a structured manner.

The analysis includes forecasted inclusions and exclusions to all major Asian indices that have significant amount of tracking assets, including estimates of passive buy/sell flow on the stocks. The service also provides commentary and impact of market consultations, ground rule changes, and other events (IPOs, spin-offs, M&A) that could lead to index changes and passive flow.

Periscope Analytics works with multi-strategy hedge funds, proprietary trading firms, stat arb trading groups and long-only investors that invest and trade in the Asia Pacific region with the data being used to trade index rebalances, avoid pre-positioning and passive flow, and to time entry into and exit from stocks.

Event-Driven Trades Across Asia Pacific

Event-Driven

<ul>
<li>The review cutoff date for the March rebalance of the HSIII was 31 December. The changes will be announced on 21 February and become effective after the close 7 March.</li>
<li>There could be 5 changes to the index with some inclusions driven by potential addition to the Hang Seng Composite Index. That could lead to buying via Southbound Stock Connect.</li>
<li>
<a href="https://www.smartkarma.com/entities/horizon-robotics-inc" target="_blank" data-smartkarma-citation="entities:35637:1" rel="noopener">Horizon Robotics (9660 HK)</a> is a potential inclusion to the HSCI and the <a href="https://www.smartkarma.com/entities/hang-seng-tech-index" target="_blank" data-smartkarma-citation="entities:31367:1" rel="noopener">Hang Seng TECH Index (HSTECH INDEX)</a> in March.</li>
</ul>


The review cutoff date for the March rebalance of the HSIII was 31 December. The changes will be announced on 21 February and become effective after the close 7 March.
There could be 5 changes to the index with some inclusions driven by potential addition to the Hang Seng Composite Index. That could lead to buying via Southbound Stock Connect.

Horizon Robotics (9660 HK) is a potential inclusion to the HSCI and the Hang Seng TECH Index (HSTECH INDEX) in March.


Hang Seng Internet & IT Index (HSIII) Rebalance Preview: Up to 5 Changes in March

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>Overseas warehouses / In Depth: Chinese traders plow cash into overseas warehouses amid global e-commerce boom</li><li>Aerospace /Geovis Insighter’s IPO lifts off in style after Chang Guang Satellite’s listing crash</li><li>Energy Insider /China to restrict export of lithium battery tech, Tesla opens new Shanghai battery plant</li></ul>

Overseas warehouses / In Depth: Chinese traders plow cash into overseas warehouses amid global e-commerce boomAerospace /Geovis Insighter’s IPO lifts off in style after Chang Guang Satellite’s listing crashEnergy Insider /China to restrict export of lithium battery tech, Tesla opens new Shanghai battery plant

CX Daily: Chinese Merchants Plow Cash Into Overseas Warehouses Amid Global E-Commerce Boom 

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

<ul>
<li>In this note, we will take a look at the Asia Pacific IPO pipeline for 2025, starting with Hong Kong.</li>
<li>This list has been compiled on a best effort basis from tracking the company filings and through various other sources.</li>
<li>The deals you see in this note are only a part of our full IPO pipeline tracker. Feel free to drop us a message for additional information on these IPOs.</li>
</ul>


In this note, we will take a look at the Asia Pacific IPO pipeline for 2025, starting with Hong Kong.
This list has been compiled on a best effort basis from tracking the company filings and through various other sources.
The deals you see in this note are only a part of our full IPO pipeline tracker. Feel free to drop us a message for additional information on these IPOs.


Aequitas 2025 Asia IPO Pipeline - Hong Kong

Asia Pac IPO & Placement Research, China biotech, Aequitas Research

Ke Yan, CFA, FRM

Asia Pac IPO & Placement Research, China biotech

Quantitative Analysis

<ul>
<li>We analyzed the latest HK SFC report for aggregate short position as of Dec 27th.</li>
<li>Top short increases and decreases were tabulated for one week and four week period.</li>
<li>We highlight short changes in Weimob, Byd Electronic, Meituan, Baba.</li>
</ul>


We analyzed the latest HK SFC report for aggregate short position as of Dec 27th.
Top short increases and decreases were tabulated for one week and four week period.
We highlight short changes in Weimob, Byd Electronic, Meituan, Baba.


HK Short Interest Weekly: Weimob, Byd Electronic, Meituan, Baba

China

Kuaishou Technology operates as a content community and social platform. The Company helps users create, upload and watch short videos on mobile devices. Kuaishou Technology offers services worldwide.

Price Gauge
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Kuaishou Technology (1024 HK)

China Online Game Grossing Monitor: December 16, 2024 - January‌ 4, 2025

New titles from Tencent and NetEase show promise for 2025 blockbuster status, while Tencent's holiday updates disappoint and Bilibili faces...

Blue Lotus Research Institute

Hang Seng Internet & IT Index (HSIII) Rebalance Preview: Up to 5 Changes in March

There could be 5 constituent changes for the HSIII in March. Estimated one-way turnover is 3.75% resulting in a round-trip trade of HK$2.12bn...

Brian Freitas

CX Daily: Chinese Merchants Plow Cash Into Overseas Warehouses Amid Global E-Commerce Boom

Overseas warehouses / In Depth: Chinese traders plow cash into overseas warehouses amid global e-commerce boom Aerospace /Geovis Insighter’s IPO...

Caixin Global

Aequitas 2025 Asia IPO Pipeline - Hong Kong

In this note, we will take a look at the Asia Pacific IPO pipeline for 2025, starting with Hong Kong where the number of filings have been...

Sumeet Singh

HK Short Interest Weekly: Weimob, Byd Electronic, Meituan, Baba

We analyzed the latest HK SFC report for aggregate short position as of Dec 27th and highlight short interest changes in Weimob, Byd Electronic,...

Ke Yan, CFA, FRM

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

China Online Game Grossing Monitor: December 16, 2024 - January‌ 4, 2025

​New titles from Tencent and NetEase show promise for 2025 blockbuster status, while Tencent's holiday updates disappoint and Bilibili faces...

Blue Lotus Research Institute

Hang Seng Internet & IT Index (HSIII) Rebalance Preview: Up to 5 Changes in March

There could be 5 constituent changes for the HSIII in March. Estimated one-way turnover is 3.75% resulting in a round-trip trade of HK$2.12bn...

Brian Freitas

CX Daily: Chinese Merchants Plow Cash Into Overseas Warehouses Amid Global E-Commerce Boom

Overseas warehouses / In Depth: Chinese traders plow cash into overseas warehouses amid global e-commerce boom Aerospace /Geovis Insighter’s IPO...

Caixin Global

Aequitas 2025 Asia IPO Pipeline - Hong Kong

In this note, we will take a look at the Asia Pacific IPO pipeline for 2025, starting with Hong Kong where the number of filings have been...

Sumeet Singh

HK Short Interest Weekly: Weimob, Byd Electronic, Meituan, Baba

We analyzed the latest HK SFC report for aggregate short position as of Dec 27th and highlight short interest changes in Weimob, Byd Electronic,...

Ke Yan, CFA, FRM

New titles from Tencent and NetEase show promise for 2025 blockbuster status, while Tencent's holiday updates disappoint and Bilibili faces...