Blue Lotus China New Economy Research, Blue Lotus Research Institute

Eric Wen

Blue Lotus China New Economy 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>ATAT/TCOM: Tourism: Local government will issue RMB600mn travel consumption subsidies during CNY(+)</li>
<li>9995 HK/BGNE/9926 HK/1801 HK/1877 HK:The National Medical Insurance Administration issued new regulations on the initial price of newly launched drugs to protect the independent pricing of innovative drugs.(/)</li>
<li>300750 SZ：Porsche's new Taycan doubles cruising range, uses CATL Shenxing battery(+)</li>
</ul>


ATAT/TCOM: Tourism: Local government will issue RMB600mn travel consumption subsidies during CNY(+)
9995 HK/BGNE/9926 HK/1801 HK/1877 HK:The National Medical Insurance Administration issued new regulations on the initial price of newly launched drugs to protect the independent pricing of innovative drugs.(/)
300750 SZ：Porsche's new Taycan doubles cruising range, uses CATL Shenxing battery(+)


[Blue Lotus Daily]: LKNCY/ZLAB/9995 HK/BGNE/9926 HK/1801 HK/1877 HK/ATAT/TCOM/1211 HK/LI/NIO/XPEV

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

<ul><li>China was the world’s top auto exporter last year, cementing its position after overtaking Japan as No. 1 earlier in 2023, thanks largely to strong demand for new-energy vehicles (NEVs), increased deliveries to Russia and escalating domestic competition that forced automakers to accelerate their overseas expansion.</li><li>China’s auto exports surged 57.9% year-on-year to 4.91 million cars, as reported by the China Association of Automobile Manufacturers (CAAM) last month.</li><li>By comparison, Japan exported 4.42 million vehicles in 2023, up 16% from a year earlier, according to data from the Japa</li></ul>

China was the world’s top auto exporter last year, cementing its position after overtaking Japan as No. 1 earlier in 2023, thanks largely to strong demand for new-energy vehicles (NEVs), increased deliveries to Russia and escalating domestic competition that forced automakers to accelerate their overseas expansion.China’s auto exports surged 57.9% year-on-year to 4.91 million cars, as reported by the China Association of Automobile Manufacturers (CAAM) last month.By comparison, Japan exported 4.42 million vehicles in 2023, up 16% from a year earlier, according to data from the Japa

China Was World’s Largest Auto Exporter in 2023 After NEVs Drove Up Shipments 

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

<ul>
<li>One year ago we looked at the arrangement between <a href="https://www.smartkarma.com/entities/nissan-motor-co-ltd" target="_blank" data-smartkarma-citation="entities:72:1" rel="noopener">Nissan (7201 JP)</a> and <a href="https://www.smartkarma.com/entities/renault-sa" target="_blank" data-smartkarma-citation="entities:21536:1" rel="noopener">Renault (RNO FP)</a> regarding their relationship, which left Renault with a 28% Nissan stake to be sold.</li>
<li>Since then, Renault has undertaken one selldown but its recent announcement of Ampere’s listing cancellation once again raises the possibility of a further selldown of Nissan’s stake by Renault.</li>
<li>In this note, we talk about the updates since our previous note and the impact of the Ampere listing delay.</li>
</ul>


One year ago we looked at the arrangement between Nissan (7201 JP) and Renault (RNO FP) regarding their relationship, which left Renault with a 28% Nissan stake to be sold.
Since then, Renault has undertaken one selldown but its recent announcement of Ampere’s listing cancellation once again raises the possibility of a further selldown of Nissan’s stake by Renault.
In this note, we talk about the updates since our previous note and the impact of the Ampere listing delay.


Nissan’s Renault Led Selldown Updates - Lack of Ampere Listing Brings Back the US$4bn Overhang

<ul>
<li>LKNCY: Luckin Coffee further raised subsidy to franchisees in winter season(-)</li>
<li>XPEV/LI/NIO/1211 HK:Deliveries of new energy vehicles generally continued to pick up in the last three days of January, except for NIO(+/+/-/+)</li>
<li>300750 CH: EVE's large cylindrical battery in production, increasing the threat to CATL a little bit(-)</li>
</ul>


LKNCY: Luckin Coffee further raised subsidy to franchisees in winter season(-)
XPEV/LI/NIO/1211 HK:Deliveries of new energy vehicles generally continued to pick up in the last three days of January, except for NIO(+/+/-/+)
300750 CH: EVE's large cylindrical battery in production, increasing the threat to CATL a little bit(-)


[Blue Lotus Daily]:LKNCY/XPEV/LI/NIO/1211 HK/300750 CH

Overseas Chinese Equities, Aequitas Research

Ming Lu

Overseas Chinese Equities

Equity Bottom-Up

<ul>
<li>BYD released its result estimate for 2023, in which net profit rose by 74% to 86% over 2022.</li>
<li>Li auto delivered 31,165 vehicles in January 2024, up by 106% over 2023.</li>
<li>As per rumors reported in the media, Alibaba will sell RT-Mart, a supermarket brand.</li>
</ul>


BYD released its result estimate for 2023, in which net profit rose by 74% to 86% over 2022.
Li auto delivered 31,165 vehicles in January 2024, up by 106% over 2023.
As per rumors reported in the media, Alibaba will sell RT-Mart, a supermarket brand.


China Consumption Weekly (5 Feb 2024): BYD, Li Auto, Alibaba, Sun Art

China

BYD Company Limited manufactures automotive products. The Company produces ordinary passenger cars, commercial vehicles, and other products. BYD also operates battery making, rail transportation construction, and other businesses.

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BYD (002594 CH)

[Blue Lotus Daily]: LKNCY/ZLAB/9995 HK/BGNE/9926 HK/1801 HK/1877 HK/ATAT/TCOM/1211 HK/LI/NIO/XPEV

Local government plans to provide RMB600mn in travel subsidies; new regulations protect pricing of innovative drugs; Porsche's Taycan now has...

Blue Lotus Research Institute

China Was World’s Largest Auto Exporter in 2023 After NEVs Drove Up Shipments

China was the world’s top auto exporter last year, cementing its position after overtaking Japan as No. 1 earlier in 2023, thanks largely to...

Caixin Global

Nissan’s Renault Led Selldown Updates - Lack of Ampere Listing Brings Back the US$4bn Overhang

A year ago we looked at the arrangement between Nissan and Renault regarding their relationship, which left Renault with a 28% Nissan stake to be...

Sumeet Singh

[Blue Lotus Daily]:LKNCY/XPEV/LI/NIO/1211 HK/300750 CH

Luckin Coffee increases subsidies to franchisees during winter season; Deliveries of new energy vehicles rise, except for NIO;EVE's large...

Blue Lotus Research Institute

China Consumption Weekly (5 Feb 2024): BYD, Li Auto, Alibaba, Sun Art

BYD estimated its net profit rose by 74% to 86% in 2023. Li auto's deliveries increased by 106% YoY in January 2024. It is rumored that Alibaba...

Ming Lu

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

[Blue Lotus Daily]: LKNCY/ZLAB/9995 HK/BGNE/9926 HK/1801 HK/1877 HK/ATAT/TCOM/1211 HK/LI/NIO/XPEV

​Local government plans to provide RMB600mn in travel subsidies; new regulations protect pricing of innovative drugs; Porsche's Taycan now has...

Blue Lotus Research Institute

China Was World’s Largest Auto Exporter in 2023 After NEVs Drove Up Shipments

China was the world’s top auto exporter last year, cementing its position after overtaking Japan as No. 1 earlier in 2023, thanks largely to...

Caixin Global

Nissan’s Renault Led Selldown Updates - Lack of Ampere Listing Brings Back the US$4bn Overhang

A year ago we looked at the arrangement between Nissan and Renault regarding their relationship, which left Renault with a 28% Nissan stake to be...

Sumeet Singh

[Blue Lotus Daily]:LKNCY/XPEV/LI/NIO/1211 HK/300750 CH

​Luckin Coffee increases subsidies to franchisees during winter season; Deliveries of new energy vehicles rise, except for NIO;EVE's large...

Blue Lotus Research Institute

China Consumption Weekly (5 Feb 2024): BYD, Li Auto, Alibaba, Sun Art

BYD estimated its net profit rose by 74% to 86% in 2023. Li auto's deliveries increased by 106% YoY in January 2024. It is rumored that Alibaba...

Ming Lu

Local government plans to provide RMB600mn in travel subsidies; new regulations protect pricing of innovative drugs; Porsche's Taycan now has...

Luckin Coffee increases subsidies to franchisees during winter season; Deliveries of new energy vehicles rise, except for NIO;EVE's large...