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>A translated article shows why Chinese are refrained from buying new homes but not so on buying existing homes. The Chinese <a href="https://docs.google.com/document/d/1pMRYOjIIzxxU1G_J90dNvf_zUKNuU_LYOhnWrtM5O5I/edit?tab=t.0" target="_blank" rel="noopener">link</a> is here. <a href="https://docs.google.com/document/d/13W_8_9qyOHx2RIOYF2rGKEyHmPDO9eO5-nE8Pa5IADk/edit?tab=t.0" target="_blank" rel="noopener">English</a> here by Qwen;</li>
<li>XPeng, Xiaomi, Zeekr and BYD recovered above the line post CNY in EV delivery, LI, Tesla, LEAP and Luxeed in line, AITO, Deepal and NIO are below the line;</li>
<li>CATL's JV with Didi is a serious threat to NIO.</li>
</ul>


A translated article shows why Chinese are refrained from buying new homes but not so on buying existing homes. The Chinese link is here. English here by Qwen;
XPeng, Xiaomi, Zeekr and BYD recovered above the line post CNY in EV delivery, LI, Tesla, LEAP and Luxeed in line, AITO, Deepal and NIO are below the line;
CATL's JV with Didi is a serious threat to NIO.


[Blue Lotus China New Consumer Weekly, 8/52] Existing Home Recovers First Post CNY

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>Xtapli is looking to raise around US$242m via a primary placement, after having raised US$145m in Jan 2025.</li>
<li>QuantumPharm is a R&amp;D platform, utilizing quantum physics-based first-principles calculation, advanced AI, high-performance cloud computing, and scalable and standardized robotic automation to provide drug and material science R&amp;D solutions.</li>
<li>In this note, we will talk about the placement and run the deal through our ECM framework.</li>
</ul>


Xtapli is looking to raise around US$242m via a primary placement, after having raised US$145m in Jan 2025.
QuantumPharm is a R&amp;D platform, utilizing quantum physics-based first-principles calculation, advanced AI, high-performance cloud computing, and scalable and standardized robotic automation to provide drug and material science R&amp;D solutions.
In this note, we will talk about the placement and run the deal through our ECM framework.


Xtapli Placement - Questionable Timing. An AI Momentum Play, at Best

Asia L/S Equity PM/Macro/Thematic Idea Generation

Rikki Malik

Cross Asset Strategy

<ul>
<li>Risk reward favours this shift in allocation between these markets</li>
<li>Weakness in HK/China markets in Q1 as President Trump takes office will provide an opportunity</li>
<li>China continues to incrementally promote consumption as the new lever of growth</li>
</ul>


Risk reward favours this shift in allocation between these markets
Weakness in HK/China markets in Q1 as President Trump takes office will provide an opportunity
China continues to incrementally promote consumption as the new lever of growth


2025 High Conviction Idea: The Case for a Rotation Out of India into HK/China Part 2

IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

Uncompromised, Independent, Conflict-Free Research

Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

Event-Driven

<ul>
<li>A weekly summary of key developments across ECM and Event-Driven names tracked by us across Hong Kong, Australia, New Zealand, Singapore, Japan, Indonesia, Malaysia, Thailand, Korea, India and Chinese ADRs.</li>
<li>ECM developments: <a href="https://www.smartkarma.com/entities/contemporary-amperex-technolog" target="_blank" data-smartkarma-citation="entities:24404:1" rel="noopener">Contemporary Amperex Technology (CATL) (300750 CH)</a> filed for an H Share listing to raise US$5 billion, and <a href="https://www.smartkarma.com/entities/hexaware-technologies-ltd" target="_blank" data-smartkarma-citation="entities:7882:1" rel="noopener">Hexaware Technologies (HEXW IN)</a> seeks to raise US$1 billion.</li>
<li>Event-Driven developments: <a href="https://www.smartkarma.com/entities/trend-micro-inc" target="_blank" data-smartkarma-citation="entities:13172:1" rel="noopener">Trend Micro Inc (4704 JP)</a>, <a href="https://www.smartkarma.com/entities/kaonavi-inc" target="_blank" data-smartkarma-citation="entities:29703:1" rel="noopener">Kaonavi Inc (4435 JP)</a>, <a href="https://www.smartkarma.com/entities/zenhoren-co-ltd" target="_blank" data-smartkarma-citation="entities:40227:1" rel="noopener">Zenhoren (5845 JP)</a>, <a href="https://www.smartkarma.com/entities/hkbn-ltd" target="_blank" data-smartkarma-citation="entities:289:1" rel="noopener">HKBN Ltd (1310 HK)</a>, <a href="https://www.smartkarma.com/entities/fosun-tourism-group" target="_blank" data-smartkarma-citation="entities:27439:1" rel="noopener">Fosun Tourism (1992 HK)</a>, <a href="https://www.smartkarma.com/entities/paragon-reit" target="_blank" data-smartkarma-citation="entities:5994:1" rel="noopener">Paragon REIT (PGNREIT SP)</a>. 
</li>
</ul>


A weekly summary of key developments across ECM and Event-Driven names tracked by us across Hong Kong, Australia, New Zealand, Singapore, Japan, Indonesia, Malaysia, Thailand, Korea, India and Chinese ADRs.
ECM developments: Contemporary Amperex Technology (CATL) (300750 CH) filed for an H Share listing to raise US$5 billion, and Hexaware Technologies (HEXW IN) seeks to raise US$1 billion.
Event-Driven developments: Trend Micro Inc (4704 JP), Kaonavi Inc (4435 JP), Zenhoren (5845 JP), HKBN Ltd (1310 HK), Fosun Tourism (1992 HK), Paragon REIT (PGNREIT SP). 



Weekly Deals Digest (16 Feb) - Trend Micro, Zenhoren, HKBN, Fosun Tourism, Paragon REIT, CATL

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>Insurers / In Depth: Falling yields pile pressure on China’s insurers</li>
<li>Malaysia /Interview: Malaysia ideally placed for high-tech development, economy minister says</li>
<li>AI /: Boost inference to follow in DeepSeek’s footsteps, AI veteran tells Chinese firms</li>
</ul>


Insurers / In Depth: Falling yields pile pressure on China’s insurers
Malaysia /Interview: Malaysia ideally placed for high-tech development, economy minister says
AI /: Boost inference to follow in DeepSeek’s footsteps, AI veteran tells Chinese firms


CX Daily: Falling Yields Pile Pressure on China’s Insurers 

Hong Kong

Contemporary Amperex Technology Co., Limited. operates as a battery products manufacturing company. The Company produces and sells power battery materials, energy storage batteries energy storage battery cells, systems, and other products. Contemporary Amperex Technology also provides batteries recycling services.

Contemporary Amperex Technology (CATL) (3750 HK)

Price Gauge
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Contemporary Amperex Technology (CATL) (3750 HK)

[Blue Lotus China New Consumer Weekly, 8/52] Existing Home Recovers First Post CNY

Chinese prefer buying existing homes over new ones, XPeng, Xiaomi, Zeekr, and BYD lead in EV delivery post CNY, CATL's JV with Didi poses a threat...

Blue Lotus Research Institute

Xtapli Placement - Questionable Timing. An AI Momentum Play, at Best

Xtapli is looking to raise around US$242m via a primary placement, after having raised US$145m in Jan 2025. In this note, we talk about the deal...

Sumeet Singh

2025 High Conviction Idea: The Case for a Rotation Out of India into HK/China Part 2

With the HSI (22,700)and the HSTech index (5,500) hitting resistance levels, we would sell SOME here. We will likely go higher but may not go...

Rikki Malik

Weekly Deals Digest (16 Feb) - Trend Micro, Zenhoren, HKBN, Fosun Tourism, Paragon REIT, CATL

Last week, notable developments occurred in Event-Driven (Trend Micro, Kaonavi, Zenhoren, Get Nice Fin, HKBN, Fosun Tourism, Paragon REIT) and ECM...

Arun George

CX Daily: Falling Yields Pile Pressure on China’s Insurers

Insurers / In Depth: Falling yields pile pressure on China’s insurers China’s insurance companies reported higher investment returns in 2024...

Caixin Global

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

[Blue Lotus China New Consumer Weekly, 8/52] Existing Home Recovers First Post CNY

​Chinese prefer buying existing homes over new ones, XPeng, Xiaomi, Zeekr, and BYD lead in EV delivery post CNY, CATL's JV with Didi poses a threat...

Blue Lotus Research Institute

Xtapli Placement - Questionable Timing. An AI Momentum Play, at Best

Xtapli is looking to raise around US$242m via a primary placement, after having raised US$145m in Jan 2025. In this note, we talk about the deal...

Sumeet Singh

2025 High Conviction Idea: The Case for a Rotation Out of India into HK/China Part 2

With the HSI (22,700)and the HSTech index (5,500) hitting resistance levels, we would sell SOME here. We will likely go higher but may not go...

Rikki Malik

Weekly Deals Digest (16 Feb) - Trend Micro, Zenhoren, HKBN, Fosun Tourism, Paragon REIT, CATL

Last week, notable developments occurred in Event-Driven (Trend Micro, Kaonavi, Zenhoren, Get Nice Fin, HKBN, Fosun Tourism, Paragon REIT) and ECM...

Arun George

CX Daily: Falling Yields Pile Pressure on China’s Insurers

Insurers / In Depth: Falling yields pile pressure on China’s insurers China’s insurance companies reported higher investment returns in 2024...

Caixin Global

Chinese prefer buying existing homes over new ones, XPeng, Xiaomi, Zeekr, and BYD lead in EV delivery post CNY, CATL's JV with Didi poses a threat...