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>TSLA/XPEV/NIO/LI/BIDU: Tesla FSD expected to launch in the Chinese market</li>
<li>1211.HK/600104.CH/601633.CH: Japanese auto makers cut prices in Thailand to fend off Chinese EV</li>
<li>XPEV/NIO/BIDU/BYD: BYD cut vehicle prices again to boost year-end sales</li>
</ul>


TSLA/XPEV/NIO/LI/BIDU: Tesla FSD expected to launch in the Chinese market
1211.HK/600104.CH/601633.CH: Japanese auto makers cut prices in Thailand to fend off Chinese EV
XPEV/NIO/BIDU/BYD: BYD cut vehicle prices again to boost year-end sales


[Blue Lotus Daily]: TSLA/XPEV/NIO/LI/BIDU/1211.HK/600104.CH/601633.CH/ATAT/BEKE

<ul>
<li>BEKE: New Home Sales still lukewarm in October and early November (/)</li>
<li>XPEV, LI, BYD, CATL: SK On and LGES cut staff amid US EV slowdowns, positive for Chinese EV &amp; battery</li>
<li>XPEV: Huawei AITO M5 rear-end accident took place on November 14 raises safety concerns(+)</li>
</ul>


BEKE: New Home Sales still lukewarm in October and early November (/)
XPEV, LI, BYD, CATL: SK On and LGES cut staff amid US EV slowdowns, positive for Chinese EV &amp; battery
XPEV: Huawei AITO M5 rear-end accident took place on November 14 raises safety concerns(+)


[Blue Lotus Daily]:  BEKE/XPEV/LI/BYD/CATL

<ul>
<li>ATAT: Atour Group launches new version of Atour 4.0, higher price with better return(+)</li>
<li>XPEV/NIO/LI:  Huawei Chery Luxeed announce specs and pricing, impacting mostly high end sedans (-)</li>
<li>981.HK/ 1347.HK/ ACMR: China lithography supplier planning A-share listing (+)</li>
</ul>


ATAT: Atour Group launches new version of Atour 4.0, higher price with better return(+)
XPEV/NIO/LI:  Huawei Chery Luxeed announce specs and pricing, impacting mostly high end sedans (-)
981.HK/ 1347.HK/ ACMR: China lithography supplier planning A-share listing (+)


[Blue Lotus Daily] Xiaomi 1810.HK/XPEV/NIO/LI/1211.HK/ATAT/BEKE/LKNCY/981.HK/1347.HK/ACMR

Overseas Chinese Equities, Aequitas Research

Ming Lu

Overseas Chinese Equities

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 Bottom-Up

<ul>
<li>Li Auto's revenue increased by 271% YoY and vehicle deliveries increased by 296% YoY in 3Q23.</li>
<li>NIO will dismiss 10% of its employees and even 20% in some departments.</li>
<li>We do not believe Alibaba will take over the whole Best Inc.</li>
</ul>


Li Auto's revenue increased by 271% YoY and vehicle deliveries increased by 296% YoY in 3Q23.
NIO will dismiss 10% of its employees and even 20% in some departments.
We do not believe Alibaba will take over the whole Best Inc.


China Consumption Weekly (13Nov2023): Li Auto, NIO, Alibaba, Best, Meituan, KE

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

Index Rebalance

<ul>
<li>Wednesday will be a busy day as positions are put on and unwound following announcement of the changes to the MSC indices.</li>
<li>Friday will end the review cutoff for the ASX indices and Hang Seng Indexes will announce the December changes for the <a href="https://www.smartkarma.com/entities/hong-kong-hang-seng-index" target="_blank" data-smartkarma-citation="entities:22899:1" rel="noopener">HSI</a>, <a href="https://www.smartkarma.com/entities/hang-seng-china-enterprises-index" target="_blank" data-smartkarma-citation="entities:22900:1" rel="noopener">HSCEI</a>, <a href="https://www.smartkarma.com/entities/hang-seng-tech-index" target="_blank" data-smartkarma-citation="entities:31367:1" rel="noopener">HSTECH</a> and HSCI post market close.</li>
<li>Another week of large outflows for China focused ETFs with redemptions across all the major indices.</li>
</ul>


Wednesday will be a busy day as positions are put on and unwound following announcement of the changes to the MSC indices.
Friday will end the review cutoff for the ASX indices and Hang Seng Indexes will announce the December changes for the HSI, HSCEI, HSTECH and HSCI post market close.
Another week of large outflows for China focused ETFs with redemptions across all the major indices.


Index Rebalance & ETF Flow Recap: SSE50, Chinext/50, Renesas, Tencent, Amman Mineral

China

KE Holdings Inc. operates as an integrated online and offline platform for housing transactions and services. The Company offers existing and new home sales, home rentals, home renovation, real estate financial solutions, and other services. KE Holdings conducts businesses in China.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

KE Holdings (BEKE US)

[Blue Lotus Daily]: TSLA/XPEV/NIO/LI/BIDU/1211.HK/600104.CH/601633.CH/ATAT/BEKE

Tesla is set to launch Full Self-Driving (FSD) in China, Japanese auto makers reduce prices in Thailand to compete with Chinese EVs, and BYD...

Blue Lotus Research Institute

[Blue Lotus Daily]: BEKE/XPEV/LI/BYD/CATL

New home sales remain tepid, while US EV slowdowns lead to staff cuts at SK On and LGES, potentially benefiting Chinese EV and battery companies....

Blue Lotus Research Institute

[Blue Lotus Daily] Xiaomi 1810.HK/XPEV/NIO/LI/1211.HK/ATAT/BEKE/LKNCY/981.HK/1347.HK/ACMR

Atour Group releases Atour 4.0 with improved features. Huawei Chery Luxeed's specs and pricing announcement affects high-end sedans negatively....

Blue Lotus Research Institute

China Consumption Weekly (13Nov2023): Li Auto, NIO, Alibaba, Best, Meituan, KE

Li Auto, Revenue increased by 271% YoY and vehicle deliveries increased by 296% YoY in 3Q23. NIO will dismiss 10% of its employees. We do not...

Ming Lu

Index Rebalance & ETF Flow Recap: SSE50, Chinext/50, Renesas, Tencent, Amman Mineral

This recap highlights Insights covering Asian index rebalances (announcements/ forecasts/ IPO Fast Entry/ M&A driven changes). We also highlight...

Brian Freitas

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

[Blue Lotus Daily]: TSLA/XPEV/NIO/LI/BIDU/1211.HK/600104.CH/601633.CH/ATAT/BEKE

​Tesla is set to launch Full Self-Driving (FSD) in China, Japanese auto makers reduce prices in Thailand to compete with Chinese EVs, and BYD...

Blue Lotus Research Institute

[Blue Lotus Daily]: BEKE/XPEV/LI/BYD/CATL

​New home sales remain tepid, while US EV slowdowns lead to staff cuts at SK On and LGES, potentially benefiting Chinese EV and battery companies....

Blue Lotus Research Institute

[Blue Lotus Daily] Xiaomi 1810.HK/XPEV/NIO/LI/1211.HK/ATAT/BEKE/LKNCY/981.HK/1347.HK/ACMR

​Atour Group releases Atour 4.0 with improved features. Huawei Chery Luxeed's specs and pricing announcement affects high-end sedans negatively....

Blue Lotus Research Institute

China Consumption Weekly (13Nov2023): Li Auto, NIO, Alibaba, Best, Meituan, KE

Li Auto, Revenue increased by 271% YoY and vehicle deliveries increased by 296% YoY in 3Q23. NIO will dismiss 10% of its employees. We do not...

Ming Lu

Index Rebalance & ETF Flow Recap: SSE50, Chinext/50, Renesas, Tencent, Amman Mineral

This recap highlights Insights covering Asian index rebalances (announcements/ forecasts/ IPO Fast Entry/ M&A driven changes). We also highlight...

Brian Freitas

Tesla is set to launch Full Self-Driving (FSD) in China, Japanese auto makers reduce prices in Thailand to compete with Chinese EVs, and BYD...

New home sales remain tepid, while US EV slowdowns lead to staff cuts at SK On and LGES, potentially benefiting Chinese EV and battery companies....

Atour Group releases Atour 4.0 with improved features. Huawei Chery Luxeed's specs and pricing announcement affects high-end sedans negatively....