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>About a year ago, we started collating battery investments in the European Union. At the time we conclude between 1/4 to a 1/3 were originated from China;</li>
<li>A year later, we revisited and found the ratio has increased. With the latest EU tariff on China-made EV's, we expect Chinese capacity buildups to quicken;</li>
<li>A total of 1,742 GWh of projects are supposed to go online in EU countries, representing investment of US$150bn, among which China related GWh and investment is ~25%. </li>
</ul>


About a year ago, we started collating battery investments in the European Union. At the time we conclude between 1/4 to a 1/3 were originated from China;
A year later, we revisited and found the ratio has increased. With the latest EU tariff on China-made EV's, we expect Chinese capacity buildups to quicken;
A total of 1,742 GWh of projects are supposed to go online in EU countries, representing investment of US$150bn, among which China related GWh and investment is ~25%. 


EU's Battery and Solar Investments, One Year After, Part I

<ul>
<li>XPEV: XPeng G9 gaining traction in its launch in Europ (+)</li>
<li>1211.HK/3931.HK: 9 Power Battery Companies exited the market in 2023 (+)</li>
<li>JD/1810.HK/981.HK: Huawei new smartphones cases listed, prelude to new handset launch (-/+/+)</li>
</ul>


XPEV: XPeng G9 gaining traction in its launch in Europ (+)
1211.HK/3931.HK: 9 Power Battery Companies exited the market in 2023 (+)
JD/1810.HK/981.HK: Huawei new smartphones cases listed, prelude to new handset launch (-/+/+)


[Blue Lotus Daily]: XPEV/1211.HK/3931.HK/LI/JD/1810.HK

China/Asia TMT

Shawn Yang

<ul>
<li>2460 CH/2466 CH/0792 CH/300750 CH/1211 HK/3931 HK/300274 CH: Lithium carbonate future set new low, Lithium carbonate spot renewed weakness</li>
<li>BABA: Alimama unveils new advertising platforms and discusses AI features (+)</li>
<li>TSLA: Revamped Tesla Model 3 China preorder data update (-)</li>
</ul>


2460 CH/2466 CH/0792 CH/300750 CH/1211 HK/3931 HK/300274 CH: Lithium carbonate future set new low, Lithium carbonate spot renewed weakness
BABA: Alimama unveils new advertising platforms and discusses AI features (+)
TSLA: Revamped Tesla Model 3 China preorder data update (-)


China TMT Update-2460CH/2466CH/0792 CH/300750 CH/1211 HK/3931 HK/300274 CH/BABA/TSLA:Model 3/Alimama

<ul>
<li>C1H23 solar PV and wind power capacity addition grew 154% and 72% YoY in China, significantly above 2022 growth. With the real estate fallout, renewable capex will likely stay robust. </li>
<li>We view hydrogen being constrained by its end use in the near future. Incremental renewable capex will still go to solar and wind;</li>
<li>Capacity addition is a long-term problem. But we don’t think overcapacity is an issue now. Capacity investment in upgrading technology is a plus. The more should be the better.</li>
</ul>


C1H23 solar PV and wind power capacity addition grew 154% and 72% YoY in China, significantly above 2022 growth. With the real estate fallout, renewable capex will likely stay robust. 
We view hydrogen being constrained by its end use in the near future. Incremental renewable capex will still go to solar and wind;
Capacity addition is a long-term problem. But we don’t think overcapacity is an issue now. Capacity investment in upgrading technology is a plus. The more should be the better.


[Blue Lotus Sector Update]: Is There a Good Capacity War from China?

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>Flood /Cover Story: How a 140-year flood caught Beijing and nearby cities off guard</li><li>FDI /Chart of the Day: Foreign investment in China tumbles on overseas headwinds</li><li>Economy /Chinese economic officials at pains to tout efficacy of recovery stimulus</li></ul>

Flood /Cover Story: How a 140-year flood caught Beijing and nearby cities off guardFDI /Chart of the Day: Foreign investment in China tumbles on overseas headwindsEconomy /Chinese economic officials at pains to tout efficacy of recovery stimulus

CX Daily: How a 140-Year Flood Caught Beijing and Nearby Cities Off Guard

China

CALB Group Co., Ltd. is a leading Chinese manufacturer specializing in the design, development, production, and sales of advanced lithium-ion batteries, battery management systems, and related integrated products. Its products are primarily used in electric vehicles and energy storage systems. The company is headquartered in Changzhou, Jiangsu Province, China, and was founded in 2007.

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CALB (3931 HK)

EU's Battery and Solar Investments, One Year After, Part I

Chinese companies accounted for a quarter of battery investments in EU. This ratio has increased materially over the past 12 months and will...

Blue Lotus Research Institute

[Blue Lotus Daily]: XPEV/1211.HK/3931.HK/LI/JD/1810.HK

XPEV's XPeng G9 making progress in European launch. 9 power battery companies exited the market in 2023. Huawei's new smartphone cases listed,...

Blue Lotus Research Institute

China TMT Update-2460CH/2466CH/0792 CH/300750 CH/1211 HK/3931 HK/300274 CH/BABA/TSLA:Model 3/Alimama

Lithium carbonate future set new low, Lithium carbonate spot renewed weakness; Alimama unveils new advertising platforms/TSLA: Revamped Tesla Model...

Blue Lotus Research Institute

[Blue Lotus Sector Update]: Is There a Good Capacity War from China?

Capacity addition is a long-term problem. But we don’t think overcapacity is an issue now. Capacity investment in upgrading technology is a plus....

Blue Lotus Research Institute

CX Daily: How a 140-Year Flood Caught Beijing and Nearby Cities Off Guard

Flood /Cover Story: How a 140-year flood caught Beijing and nearby cities off guard FDI /Chart of the Day: Foreign investment in China tumbles on...

Caixin Global

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

EU's Battery and Solar Investments, One Year After, Part I

Chinese companies accounted for a quarter of battery investments in EU. This ratio has increased materially over the past 12 months and will...

Blue Lotus Research Institute

[Blue Lotus Daily]: XPEV/1211.HK/3931.HK/LI/JD/1810.HK

​XPEV's XPeng G9 making progress in European launch. 9 power battery companies exited the market in 2023. Huawei's new smartphone cases listed,...

Blue Lotus Research Institute

China TMT Update-2460CH/2466CH/0792 CH/300750 CH/1211 HK/3931 HK/300274 CH/BABA/TSLA:Model 3/Alimama

Lithium carbonate future set new low, Lithium carbonate spot renewed weakness; Alimama unveils new advertising platforms/TSLA: Revamped Tesla Model...

Blue Lotus Research Institute

[Blue Lotus Sector Update]: Is There a Good Capacity War from China?

Capacity addition is a long-term problem. But we don’t think overcapacity is an issue now. Capacity investment in upgrading technology is a plus....

Blue Lotus Research Institute

CX Daily: How a 140-Year Flood Caught Beijing and Nearby Cities Off Guard

Flood /Cover Story: How a 140-year flood caught Beijing and nearby cities off guard FDI /Chart of the Day: Foreign investment in China tumbles on...

Caixin Global

XPEV's XPeng G9 making progress in European launch. 9 power battery companies exited the market in 2023. Huawei's new smartphone cases listed,...