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

Alibaba Group Holding  / Equity Bottom-Up

<ul>
<li>China Literature’s revenue increased by 28% YoY in 1H24, because four novel copyrights for movies brought box office hits.</li>
<li>KE revenue increased by 20% YoY in 2Q24 compared with a 19% YoY decrease in 1Q24, as government policies supported existing home transaction.</li>
<li>Alibaba announced that it will recruit 1,000 fresh graduates for tech positions in 2025.</li>
</ul>


China Literature’s revenue increased by 28% YoY in 1H24, because four novel copyrights for movies brought box office hits.
KE revenue increased by 20% YoY in 2Q24 compared with a 19% YoY decrease in 1Q24, as government policies supported existing home transaction.
Alibaba announced that it will recruit 1,000 fresh graduates for tech positions in 2025.


China Consumption Weekly (19Aug2024): China Literature, BEKE, Alibaba, JD, JD Health, Tencent Music

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 US/TCOM US:Daily Traffic Volume growth on highways is flattish YoY During the Summer Travel Season(-/-)</li>
<li>BEKE US: Decrease in New Short-term Loans to Residents in July, but Increase in New Long-term Loans(+)</li>
<li>BEKE US:House prices continued to decline in July . (-)</li>
</ul>


ATAT US/TCOM US:Daily Traffic Volume growth on highways is flattish YoY During the Summer Travel Season(-/-)
BEKE US: Decrease in New Short-term Loans to Residents in July, but Increase in New Long-term Loans(+)
BEKE US:House prices continued to decline in July . (-)


[Blue Lotus Daily]:ATAT US/TCOM US/BEKE US/NIO US/LI US/1810 HK/1211 HK/XPEV US/LKNCY US

<ul>
<li>Macro News Update: Central Economic Work Conference in July shifts focus of short-term economic efforts to promoting consumption.（+）</li>
<li>LI US/1211 HK/1810 HK/ NIO US/ XPEV US: New energy vehicle deliveries generally rose in the 30th week of 2024, with BYD, Ideal and Xiaomi hitting new highs （/////////）</li>
<li>BEKE US:A subsidiary of Beike acquires two commercial and residential land in Xi'an (/)</li>
</ul>


Macro News Update: Central Economic Work Conference in July shifts focus of short-term economic efforts to promoting consumption.（+）
LI US/1211 HK/1810 HK/ NIO US/ XPEV US: New energy vehicle deliveries generally rose in the 30th week of 2024, with BYD, Ideal and Xiaomi hitting new highs （/////////）
BEKE US:A subsidiary of Beike acquires two commercial and residential land in Xi'an (/)


[Blue Lotus Daily]:LI US/1211 HK/1810 HK/ NIO US/ XPEV US/BEKE/Macro News Update/China Manufacturing

<ul>
<li>LKNCY US:Luckin Coffee's Moutai Flavored Latte is Gradually Being Phased Out (-)</li>
<li>1519 HK/ZTO US: Weekly parcel volume grew ~33% y-o-y (+)</li>
<li>981 HK/1810 HK/AAPL US/NVDA US: SMIC’s upcoming N+3 process to narrow performance with TSMC’s 5nm (+/-/-/-)</li>
</ul>


LKNCY US:Luckin Coffee's Moutai Flavored Latte is Gradually Being Phased Out (-)
1519 HK/ZTO US: Weekly parcel volume grew ~33% y-o-y (+)
981 HK/1810 HK/AAPL US/NVDA US: SMIC’s upcoming N+3 process to narrow performance with TSMC’s 5nm (+/-/-/-)


[Blue Lotus Daily]:LKNCY US/1519 HK/ZTO US/981 HK/1810 HK/AAPL US/NVDA US/BEKE US

<ul>
<li>981 HK/1810 HK: Huawei to launch updated Nova series smartphones (+//)</li>
<li>BEKE US:China's residential property prices show narrowing MoM decline in June (+)</li>
<li>1810 HK/AAPL US: IDC publishes 2Q24 smartphone sales data (+)</li>
</ul>


981 HK/1810 HK: Huawei to launch updated Nova series smartphones (+//)
BEKE US:China's residential property prices show narrowing MoM decline in June (+)
1810 HK/AAPL US: IDC publishes 2Q24 smartphone sales data (+)


[Blue Lotus Daily]:981 HK/1810 HK/BEKE US/AAPL US/688036 CH/QCOM US

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 Consumption Weekly (19Aug2024): China Literature, BEKE, Alibaba, JD, JD Health, Tencent Music

China Literature’s revenue increased by 28% YoY in 1H24. KE revenue increased by 20% YoY in 2Q24. Alibaba announced that it will recruit 1,000...

Ming Lu

[Blue Lotus Daily]:ATAT US/TCOM US/BEKE US/NIO US/LI US/1810 HK/1211 HK/XPEV US/LKNCY US

Summer travel season sees flat growth in highway traffic volume, decrease in short-term loans but increase in long-term loans, and continued...

Blue Lotus Research Institute

[Blue Lotus Daily]:LI US/1211 HK/1810 HK/ NIO US/ XPEV US/BEKE/Macro News Update/China Manufacturing

Central Economic Work Conference shifts focus to promoting consumption, new energy vehicle deliveries rise, Beike subsidiary acquires land in Xi'an.

Blue Lotus Research Institute

[Blue Lotus Daily]:LKNCY US/1519 HK/ZTO US/981 HK/1810 HK/AAPL US/NVDA US/BEKE US

Luckin Coffee is phasing out Moutai Flavored Latte, parcel volume is growing, and SMIC's new process will compete with TSMC's 5nm.

Blue Lotus Research Institute

[Blue Lotus Daily]:981 HK/1810 HK/BEKE US/AAPL US/688036 CH/QCOM US

Huawei to launch updated Nova series smartphones, China's residential property prices show narrowing decline, IDC publishes 2Q24 smartphone sales...

Blue Lotus Research Institute

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

China Consumption Weekly (19Aug2024): China Literature, BEKE, Alibaba, JD, JD Health, Tencent Music

China Literature’s revenue increased by 28% YoY in 1H24. KE revenue increased by 20% YoY in 2Q24. Alibaba announced that it will recruit 1,000...

Ming Lu

[Blue Lotus Daily]:ATAT US/TCOM US/BEKE US/NIO US/LI US/1810 HK/1211 HK/XPEV US/LKNCY US

​Summer travel season sees flat growth in highway traffic volume, decrease in short-term loans but increase in long-term loans, and continued...

Blue Lotus Research Institute

[Blue Lotus Daily]:LI US/1211 HK/1810 HK/ NIO US/ XPEV US/BEKE/Macro News Update/China Manufacturing

​Central Economic Work Conference shifts focus to promoting consumption, new energy vehicle deliveries rise, Beike subsidiary acquires land in Xi'an.

Blue Lotus Research Institute

[Blue Lotus Daily]:LKNCY US/1519 HK/ZTO US/981 HK/1810 HK/AAPL US/NVDA US/BEKE US

​Luckin Coffee is phasing out Moutai Flavored Latte, parcel volume is growing, and SMIC's new process will compete with TSMC's 5nm.

Blue Lotus Research Institute

[Blue Lotus Daily]:981 HK/1810 HK/BEKE US/AAPL US/688036 CH/QCOM US

​Huawei to launch updated Nova series smartphones, China's residential property prices show narrowing decline, IDC publishes 2Q24 smartphone sales...

Blue Lotus Research Institute

Summer travel season sees flat growth in highway traffic volume, decrease in short-term loans but increase in long-term loans, and continued...

Central Economic Work Conference shifts focus to promoting consumption, new energy vehicle deliveries rise, Beike subsidiary acquires land in Xi'an.

Luckin Coffee is phasing out Moutai Flavored Latte, parcel volume is growing, and SMIC's new process will compete with TSMC's 5nm.

Huawei to launch updated Nova series smartphones, China's residential property prices show narrowing decline, IDC publishes 2Q24 smartphone sales...