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>LI US/TSLA US/XPEV US/NIO US/1211 HK:In the 49th week of 2024, LI and Tesla hedged against the slowdown in industry sales by increasing subsidies (/////////)</li>
<li>300750 CH: CATL announces a battery Factory plan in Spain, marking its third overseas plant (+)</li>
<li>BEKE US: Second week of December sees abnormal surge in existing home sales, while new home sales maintain steady growth (+)</li>
</ul>


LI US/TSLA US/XPEV US/NIO US/1211 HK:In the 49th week of 2024, LI and Tesla hedged against the slowdown in industry sales by increasing subsidies (/////////)
300750 CH: CATL announces a battery Factory plan in Spain, marking its third overseas plant (+)
BEKE US: Second week of December sees abnormal surge in existing home sales, while new home sales maintain steady growth (+)


[Blue Lotus Daily]:LI US/TSLA US/XPEV US/NIO US/1211 HK/300750 CH/BEKE US/1810 HK/LKNCY US

<ul>
<li>LI US/XPEV US/NIO US/1211 HK/TSLA US/ZK US:Electric vehicles delivered in the 48th week of 2024: LI and AITO stagnated, new new forces surged,while BYD and Tesla maintained moderate rise.(///////////)</li>
<li>MNSO US /601933 CH: A brief comment on the recent stock rally(///)</li>
<li>981HK/ACMR US/1347 HK: Impacts of US semiconductor export controls. (-/-/+)</li>
</ul>


LI US/XPEV US/NIO US/1211 HK/TSLA US/ZK US:Electric vehicles delivered in the 48th week of 2024: LI and AITO stagnated, new new forces surged,while BYD and Tesla maintained moderate rise.(///////////)
MNSO US /601933 CH: A brief comment on the recent stock rally(///)
981HK/ACMR US/1347 HK: Impacts of US semiconductor export controls. (-/-/+)


[Blue Lotus Daily]:LI US/XPEV US/NIO US/1211HK/TSLA US/ZK US/MNSO/601933CH/LKNCY/981HK/ACMR/1347HK

<ul>
<li>TSLA US: Model Y Price Reduced by RMB 10,000 In December (-)</li>
<li>LKNCY US :  Starbucks Considers Selling Its China Business. (+)</li>
<li>ZTO US: Parcel volume delivery grew 33.6% yoy in the prior week (+)</li>
</ul>


TSLA US: Model Y Price Reduced by RMB 10,000 In December (-)
LKNCY US :  Starbucks Considers Selling Its China Business. (+)
ZTO US: Parcel volume delivery grew 33.6% yoy in the prior week (+)


[Blue Lotus Daily]:TSLA US/LKNCY US/NIO US/ZTO US

<ul>
<li>1211 HK/TSLA US/1810 HK/NIO US/LI US/XPEV US/ZK US/9863 HK:In the 46th week of 2024, market demand is booming and new brands gain market share.(///////////////)</li>
<li>XPEV US: Xpeng's vehicle revenue and gross profit margin exceeded expectations in the third quarter, but service revenue was lower than expected, resulting in lower-than-expected profits.(/)</li>
<li>LKNCY US: Luckin Signs Memorandum for Brazilian Coffee Bean Purchases.(+)</li>
</ul>


1211 HK/TSLA US/1810 HK/NIO US/LI US/XPEV US/ZK US/9863 HK:In the 46th week of 2024, market demand is booming and new brands gain market share.(///////////////)
XPEV US: Xpeng's vehicle revenue and gross profit margin exceeded expectations in the third quarter, but service revenue was lower than expected, resulting in lower-than-expected profits.(/)
LKNCY US: Luckin Signs Memorandum for Brazilian Coffee Bean Purchases.(+)


[Blue Lotus Daily]:1211 HK/TSLA US/1810 HK/NIO US/LI US/XPEV US/ZK US/9863 HK/LKNCY US

Equity Analyst - Asia Consumer Sector, Investory

Devi Subhakesan

Equity Analyst - Asia Consumer Sector

ASIA CONSUMER: INSIGHTS AND INVESTMENT IDEAS

Investory

Investory is a Singapore-based boutique independent equity research firm founded in January 2017 with a primary focus on consumption themes across Asia-Pacific.

We aim to generate investible ideas based on consumption trends and outlook. We screen our ideas on several parameters - product potential, long-term growth and management commitment being the most critical.  We follow a fundamental analysis approach in our stock selection process and are not restricted by market cap.

We aspire to grow into a leading source of unbiased research, free of conflict of interest, for investors yearning for independent and disciplined analysis. 

We also undertake bespoke research mandates to support our Institutional clients’ investment needs.

Our team comprises of professionals with extensive experience in the Asian equity markets, in areas ranging from research, servicing institutional clients and investment management.

Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/luckin-coffee-inc" target="_blank" data-smartkarma-citation="entities:28046:1" rel="noopener">Luckin Coffee (LKNCY US)</a> reported another quarter of strong growth and is now China’s leading coffee chain by a wide margin with operating margins outperforming even premium rival <a href="https://www.smartkarma.com/entities/starbucks-corp" target="_blank" data-smartkarma-citation="entities:7641:1" rel="noopener">Starbucks Corp(SBUX US)</a> .</li>
<li>Luckin’s disruptive model—centered on affordability, convenience, and accessibility—and the competition that followed has fueled a 2.5X rise in China’s per capita coffee consumption over the past five years.</li>
<li>​Luckin Coffee's strong growth, high operating margins, dominant market share contrasts with Starbucks, which is now adapting to changing customer preference for convenience and digital experiences.</li>
</ul>



Luckin Coffee (LKNCY US) reported another quarter of strong growth and is now China’s leading coffee chain by a wide margin with operating margins outperforming even premium rival Starbucks Corp(SBUX US) .
Luckin’s disruptive model—centered on affordability, convenience, and accessibility—and the competition that followed has fueled a 2.5X rise in China’s per capita coffee consumption over the past five years.
​Luckin Coffee's strong growth, high operating margins, dominant market share contrasts with Starbucks, which is now adapting to changing customer preference for convenience and digital experiences.


Luckin Coffee: Acing It in China's Racing Coffee Market

China

Luckin Coffee Inc. provides non-alcoholic beverages. The Company offers various types of coffee. Luckin Coffee serves customers in China.

Price Gauge
52-week Range	0.00 - 0.00
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Luckin Coffee (LKNCY US)

[Blue Lotus Daily]:LI US/TSLA US/XPEV US/NIO US/1211 HK/300750 CH/BEKE US/1810 HK/LKNCY US

LI and Tesla increase subsidies to hedge against industry sales slowdown. CATL plans third overseas plant in Spain. Abnormal surge in existing...

Blue Lotus Research Institute

[Blue Lotus Daily]:LI US/XPEV US/NIO US/1211HK/TSLA US/ZK US/MNSO/601933CH/LKNCY/981HK/ACMR/1347HK

Electric vehicle deliveries in the 48th week of 2024 show stagnation for some, surge for others. Stock rally commentary and impacts of US...

Blue Lotus Research Institute

[Blue Lotus Daily]:TSLA US/LKNCY US/NIO US/ZTO US

Tesla reduces Model Y price, Starbucks considers selling China business, ZTO sees 33.6% increase in parcel delivery volume.

Blue Lotus Research Institute

[Blue Lotus Daily]:1211 HK/TSLA US/1810 HK/NIO US/LI US/XPEV US/ZK US/9863 HK/LKNCY US

Market demand is booming in 46th week of 2024, new brands gaining share; XPEV's Q3 revenue exceeds expectations but service revenue disappoints;...

Blue Lotus Research Institute

Luckin Coffee: Acing It in China's Racing Coffee Market

Luckin Coffee's strong growth, high operating margins, dominant market share contrasts with Starbucks, which is now adapting to changing customer...

Devi Subhakesan

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

[Blue Lotus Daily]:LI US/TSLA US/XPEV US/NIO US/1211 HK/300750 CH/BEKE US/1810 HK/LKNCY US

​LI and Tesla increase subsidies to hedge against industry sales slowdown. CATL plans third overseas plant in Spain. Abnormal surge in existing...

Blue Lotus Research Institute

[Blue Lotus Daily]:LI US/XPEV US/NIO US/1211HK/TSLA US/ZK US/MNSO/601933CH/LKNCY/981HK/ACMR/1347HK

​Electric vehicle deliveries in the 48th week of 2024 show stagnation for some, surge for others. Stock rally commentary and impacts of US...

Blue Lotus Research Institute

[Blue Lotus Daily]:TSLA US/LKNCY US/NIO US/ZTO US

​Tesla reduces Model Y price, Starbucks considers selling China business, ZTO sees 33.6% increase in parcel delivery volume.

Blue Lotus Research Institute

[Blue Lotus Daily]:1211 HK/TSLA US/1810 HK/NIO US/LI US/XPEV US/ZK US/9863 HK/LKNCY US

​Market demand is booming in 46th week of 2024, new brands gaining share; XPEV's Q3 revenue exceeds expectations but service revenue disappoints;...

Blue Lotus Research Institute

Luckin Coffee: Acing It in China's Racing Coffee Market

​Luckin Coffee's strong growth, high operating margins, dominant market share contrasts with Starbucks, which is now adapting to changing customer...

Devi Subhakesan

LI and Tesla increase subsidies to hedge against industry sales slowdown. CATL plans third overseas plant in Spain. Abnormal surge in existing...

Electric vehicle deliveries in the 48th week of 2024 show stagnation for some, surge for others. Stock rally commentary and impacts of US...

Tesla reduces Model Y price, Starbucks considers selling China business, ZTO sees 33.6% increase in parcel delivery volume.

Market demand is booming in 46th week of 2024, new brands gaining share; XPEV's Q3 revenue exceeds expectations but service revenue disappoints;...

Luckin Coffee's strong growth, high operating margins, dominant market share contrasts with Starbucks, which is now adapting to changing customer...