China/Asia TMT

Shawn Yang

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>KE Holding: China State Media call for loosening on purchase restrictions in 1st tier cities (+)</li>
<li>NIO: NIO to launch ET5 Touring on June 15（ +）</li>
<li>JD/ BABA/ PDD: Douyin launches self-operated (1P) ecommerce store (-)</li>
</ul>


KE Holding: China State Media call for loosening on purchase restrictions in 1st tier cities (+)
NIO: NIO to launch ET5 Touring on June 15（ +）
JD/ BABA/ PDD: Douyin launches self-operated (1P) ecommerce store (-)


China TMT Update: Ke/Nio/JD/BABA/PDD-Douyin Launches Self-Operated (1P) Store; Nio's ET5;

<ul>
<li>LI/NIO/XPEV: Li Auto, NIO and Xpeng announced May vehicle delivery results (+/-/)</li>
<li>XPEV: Xpeng to begin presale for G6 on June 9 (+)</li>
<li>KE Holding: Monthly housing transactions remain resilient in May (+)</li>
</ul>


LI/NIO/XPEV: Li Auto, NIO and Xpeng announced May vehicle delivery results (+/-/)
XPEV: Xpeng to begin presale for G6 on June 9 (+)
KE Holding: Monthly housing transactions remain resilient in May (+)


China TMT Update June 3 - KE/LI/NIO/XPEV: Xpeng to Begin Presale for G6 on June 9(+)

<ul>
<li>PDD: Douyin launches “Super Cheap Little Shop” to provide low cost products (-)</li>
<li>ByteDance/BEKE: ByteDance give up offline housing brokerage business, while online business remains（+）</li>
<li>NIO: NIO to officially launch all-new ES6 on May 24 (+)</li>
</ul>


PDD: Douyin launches “Super Cheap Little Shop” to provide low cost products (-)
ByteDance/BEKE: ByteDance give up offline housing brokerage business, while online business remains（+）
NIO: NIO to officially launch all-new ES6 on May 24 (+)


China TMT Update (May.6) - Douyin/PDD/ByteDance/BEKE/NIO: Douyin Launches “Super Cheap Little Shop”

<ul>
<li>BILI: Some BILI content creators reportedly cease to upload videos due to monetization(-)</li>
<li>BEKE: Housing transaction volume continue ramp up in March 2023(+)</li>
<li>9995HK: BioNTech signed ADC license deal with a Chinese startup (-)</li>
</ul>


BILI: Some BILI content creators reportedly cease to upload videos due to monetization(-)
BEKE: Housing transaction volume continue ramp up in March 2023(+)
9995HK: BioNTech signed ADC license deal with a Chinese startup (-)


China TMT Update - BILI/BEKE/9995HK -Some BILI Content Creators Reportedly Cease to Upload Videos(-)

<ul>
<li>Even though we are long-term optimistic on the rise of Chinese consumer brands, we believe short-term optimism is misplaced. </li>
<li>Two themes: (1) structural changes led by China’s transition to an older and more affluent society, (2) substitution and globalization that can break the ceiling for valuation;</li>
<li>Our TOP PICKS are Li Auto, Atour, Luckin, FUTU, BEKE and Miniso</li>
</ul>


Even though we are long-term optimistic on the rise of Chinese consumer brands, we believe short-term optimism is misplaced. 
Two themes: (1) structural changes led by China’s transition to an older and more affluent society, (2) substitution and globalization that can break the ceiling for valuation;
Our TOP PICKS are Li Auto, Atour, Luckin, FUTU, BEKE and Miniso


[Consumer Brands Deep Dive]:Structural and Substitution Drive Chinese Consumer

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)

China TMT Update: Ke/Nio/JD/BABA/PDD-Douyin Launches Self-Operated (1P) Store; Nio's ET5;

KE Holding: China State Media call for loosening on purchase restrictions (+)；NIO: NIO to launch ET5 Touring on June 15（+）；JD/ BABA/ PDD: Douyin...

Blue Lotus Research Institute

China TMT Update June 3 - KE/LI/NIO/XPEV: Xpeng to Begin Presale for G6 on June 9(+)

KE Holding: Monthly housing transactions remain resilient in May (+)；LI/NIO/XPEV: Li Auto, NIO and Xpeng announced May vehicle delivery results (+/...

Blue Lotus Research Institute

China TMT Update (May.6) - Douyin/PDD/ByteDance/BEKE/NIO: Douyin Launches “Super Cheap Little Shop”

PDD: Douyin launches “Super Cheap Little Shop” (-)；ByteDance give up offline housing brokerage business, while online business remains（+）；NIO to...

Blue Lotus Research Institute

China TMT Update - BILI/BEKE/9995HK -Some BILI Content Creators Reportedly Cease to Upload Videos(-)

9995HK: BioNTech signed ADC license deal with a Chinese startup; BILI: Some BILI content creators reportedly cease to upload videos(-); BEKE:...

Blue Lotus Research Institute

[Consumer Brands Deep Dive]:Structural and Substitution Drive Chinese Consumer

Chinese underconsumption is only half true. It only occurs in categories associated with development stages; Our TOP PICKS are Li Auto, Atour,...

Blue Lotus Research Institute

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)