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>XPEV US/1211 HK：Didi Autonomous Driving and GAC Aion joint venture approved to launch first commercial L4 model in 2025（///）</li>
<li>3759 HK/1548 HK/9926 HK/BGNE US/9995 HK/1801 HK：U.S. biologic drug ban may spread to more CRO companies, positive to Chinese innovative drug companies（/）</li>
<li>1810 HK/1211 HK：Lei Jun announced that more than 100,000 people have ordered Xiaomi SU7, and the number of locked orders has exceeded 40,000.（///）</li>
</ul>


XPEV US/1211 HK：Didi Autonomous Driving and GAC Aion joint venture approved to launch first commercial L4 model in 2025（///）
3759 HK/1548 HK/9926 HK/BGNE US/9995 HK/1801 HK：U.S. biologic drug ban may spread to more CRO companies, positive to Chinese innovative drug companies（/）
1810 HK/1211 HK：Lei Jun announced that more than 100,000 people have ordered Xiaomi SU7, and the number of locked orders has exceeded 40,000.（///）


[Blue Lotus Daily]:XPEV/1211 HK/3759HK/1548HK/9926HK/BGNE/9995HK/1801 HK/1810HK/LKNCY/LI/NIO/MNSO US

External broker reports(aggregated public sources), CMB International

CMB International

External broker reports(aggregated public sources)

Incorporated in Hong Kong, supported by the mainland and targeting in global market, CMB International Capital Corporation Limited (“CMBI”) is an integrated financial institution providing comprehensive and professional services. As a wholly-owned subsidiary of China Merchants Bank ("CMB"), by leveraging on the Group’s synergy and coordination in domestic and overseas markets, as well as CMB’s strong resources and outstanding social reputation, CMBI and its subsidiaries have been actively implementing diversified business strategies and set up an overall layout of main business segments including Corporate Finance, Asset Management, Wealth Management, Global Markets and Structured Finance, etc. Adhering to the philosophy of “being clients oriented and increasing our own values by the way of creating value for clients”, CMBI endeavors to provide quality and integrated financial services to institutional, corporate and individual customers both domestic and overseas including Hong Kong IPO sponsorship and underwriting, share placement and rights issue for listed companies, financial advisors, bonds issuance services, asset management, direct investment, wealth management, equity sales and trading, etc.

<ul><li>We summarize the Mar 2024 price discounts at dealers for major automakers in this report.</li><li>Note that such discounts for each automaker are calculated based on the weighted average of Feb 2024 retail sales volume for each model, as Mar 2024 retail sales volume data have not been released yet.</li><li>On the surface, the industrywide average discounts remained flat MoM in Mar 2024. </li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

We summarize the Mar 2024 price discounts at dealers for major automakers in this report.Note that such discounts for each automaker are calculated based on the weighted average of Feb 2024 retail sales volume for each model, as Mar 2024 retail sales volume data have not been released yet.On the surface, the industrywide average discounts remained flat MoM in Mar 2024. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Auto - New models with lower MSRPs made discounts artificially stable

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>A number of China’s conventional carmakers have launched or announced new hybrid models in an attempt to capitalize on the growing popularity of the cars as range anxiety persists among customers curious about going electric.</li><li>State-owned automaker Dongfeng Motor Group Co. Ltd. on Saturday unveiled the Aeolus L7 SUV, which it touted as the first model built with its novel hybrid car technology that allows the vehicle to operate as either a plug-in hybrid or an extended-range hybrid.</li><li>Plug-in hybrids use batteries to power an electric motor and fossil fuels to power an internal combustion engine. While on the road, they can use fuel, battery power or a mix of the two to run.</li></ul>

A number of China’s conventional carmakers have launched or announced new hybrid models in an attempt to capitalize on the growing popularity of the cars as range anxiety persists among customers curious about going electric.State-owned automaker Dongfeng Motor Group Co. Ltd. on Saturday unveiled the Aeolus L7 SUV, which it touted as the first model built with its novel hybrid car technology that allows the vehicle to operate as either a plug-in hybrid or an extended-range hybrid.Plug-in hybrids use batteries to power an electric motor and fossil fuels to power an internal combustion engine. While on the road, they can use fuel, battery power or a mix of the two to run.

China’s Conventional Carmakers Try to Cash In on Hybrids’ Growing Popularity 

<ul>
<li>LI/ 1211 HK/ XPEV/ NIO: In the 12th week of 2024, new energy vehicles continued to maintain steady growth, BYD once again led and Li fell behind again（///////）</li>
<li>1211 HK : China to challenge Biden’s electric vehicle plans at the WTO (+)</li>
<li>NIO US: NIO US revised down C1Q24 delivery target. (+)</li>
</ul>


LI/ 1211 HK/ XPEV/ NIO: In the 12th week of 2024, new energy vehicles continued to maintain steady growth, BYD once again led and Li fell behind again（///////）
1211 HK : China to challenge Biden’s electric vehicle plans at the WTO (+)
NIO US: NIO US revised down C1Q24 delivery target. (+)


[Blue Lotus Daily]:LI/ 1211 HK/ XPEV/ NIO

<ul>
<li>1810 HK: Multiple reports show that Xiaomi‘s new car reservations very popular, but is it effective to skip professional test drives and directly market to the car buyers?（/）</li>
<li>ATAT: Atour tests a 50% discount promotion on Sunday, bodes well for occupancy rates and revenue.(+)</li>
<li>LI/1810 HK/XPEV/NIO/1211 HK:The Cyberspace Administration of China publishes regulations on cross-border data flows, which may clear the way for Tesla FSD to enter China（////-/-//）</li>
</ul>


1810 HK: Multiple reports show that Xiaomi‘s new car reservations very popular, but is it effective to skip professional test drives and directly market to the car buyers?（/）
ATAT: Atour tests a 50% discount promotion on Sunday, bodes well for occupancy rates and revenue.(+)
LI/1810 HK/XPEV/NIO/1211 HK:The Cyberspace Administration of China publishes regulations on cross-border data flows, which may clear the way for Tesla FSD to enter China（////-/-//）


[Blue Lotus Daily]:1810 HK/ATAT/LI/XPEV/NIO/1211 HK

China

Li Auto Inc. manufactures automobiles. The Company designs, develops, and sells smart new energy electric sport utility vehicles. Li Auto 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

Li Auto (LI US)

[Blue Lotus Daily]:XPEV/1211 HK/3759HK/1548HK/9926HK/BGNE/9995HK/1801 HK/1810HK/LKNCY/LI/NIO/MNSO US

Didi and GAC Aion to launch first commercial L4 model in 2025, US biologic drug ban could benefit Chinese innovative drug companies, Xiaomi SU7...

Blue Lotus Research Institute

Auto - New models with lower MSRPs made discounts artificially stable

Note that such discounts for each automaker are calculated based on the weighted average of Feb 2024 retail sales volume for each model

CMB International

China’s Conventional Carmakers Try to Cash In on Hybrids’ Growing Popularity

A number of China’s conventional carmakers have launched or announced new hybrid models in an attempt to capitalize on the growing popularity of...

Caixin Global

[Blue Lotus Daily]:LI/ 1211 HK/ XPEV/ NIO

new energy vehicles continued to maintain steady growth, BYD once again led and Li fell behind again.China to challenge Biden’s electric vehicle...

Blue Lotus Research Institute

[Blue Lotus Daily]:1810 HK/ATAT/LI/XPEV/NIO/1211 HK

Li lowered the first quarter and full-year delivery targets.The Cyberspace Administration of China publishes regulations on cross-border data...

Blue Lotus Research Institute

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

[Blue Lotus Daily]:XPEV/1211 HK/3759HK/1548HK/9926HK/BGNE/9995HK/1801 HK/1810HK/LKNCY/LI/NIO/MNSO US

​Didi and GAC Aion to launch first commercial L4 model in 2025, US biologic drug ban could benefit Chinese innovative drug companies, Xiaomi SU7...

Blue Lotus Research Institute

Auto - New models with lower MSRPs made discounts artificially stable

Note that such discounts for each automaker are calculated based on the weighted average of Feb 2024 retail sales volume for each model

CMB International

China’s Conventional Carmakers Try to Cash In on Hybrids’ Growing Popularity

A number of China’s conventional carmakers have launched or announced new hybrid models in an attempt to capitalize on the growing popularity of...

Caixin Global

[Blue Lotus Daily]:LI/ 1211 HK/ XPEV/ NIO

new energy vehicles continued to maintain steady growth, BYD once again led and Li fell behind again.China to challenge Biden’s electric vehicle...

Blue Lotus Research Institute

[Blue Lotus Daily]:1810 HK/ATAT/LI/XPEV/NIO/1211 HK

Li lowered the first quarter and full-year delivery targets.The Cyberspace Administration of China publishes regulations on cross-border data...

Blue Lotus Research Institute

Didi and GAC Aion to launch first commercial L4 model in 2025, US biologic drug ban could benefit Chinese innovative drug companies, Xiaomi SU7...