HK/China Equity Long-Short

Osbert Tang, CFA

Thematic (Sector/Industry)

<ul>
<li>The HSI has already recovered to 2.2% above the pre-"reciprocal tariff" level, and the top 10 best-performing constituents have registered an average return of 15.6%.</li>
<li>Despite so, there are still 40 under-performing stocks, with 32 of them remain in the negative zone with an average of 4.8% loss. </li>
<li>Among them, <a href="https://www.smartkarma.com/entities/zto-express-cayman-inc" target="_blank" data-smartkarma-citation="entities:33488:1" rel="noopener">ZTO Express Cayman (2057 HK)</a>, <a href="https://www.smartkarma.com/entities/budweiser-brewing-co-apac-ltd" target="_blank" data-smartkarma-citation="entities:28077:1" rel="noopener">Budweiser Brewing APAC (1876 HK)</a>, <a href="https://www.smartkarma.com/entities/byd-electronic-international-co-ltd" target="_blank" data-smartkarma-citation="entities:1927:1" rel="noopener">BYD Electronics (285 HK)</a>, and <a href="https://www.smartkarma.com/entities/meituan" target="_blank" data-smartkarma-citation="entities:26970:1" rel="noopener">Meituan (3690 HK)</a> look well-positioned to catch up.</li>
</ul>


The HSI has already recovered to 2.2% above the pre-"reciprocal tariff" level, and the top 10 best-performing constituents have registered an average return of 15.6%.
Despite so, there are still 40 under-performing stocks, with 32 of them remain in the negative zone with an average of 4.8% loss. 
Among them, ZTO Express Cayman (2057 HK), Budweiser Brewing APAC (1876 HK), BYD Electronics (285 HK), and Meituan (3690 HK) look well-positioned to catch up.


HK Strategy: What Are Some of the HSI Laggards to Pick Up?

Blue Lotus Non US Internet research, Blue Lotus Research Institute

Ying Pan

Blue Lotus Non US Internet 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

<ul>
<li>BABA US: Alibaba’s Qwen Team to Launch AGI-like Deep Research Functionality for Free User Access(+)</li>
<li>BABA US: Ele.me's Retail Digital System Integrated into Taobao Instashopping (+)</li>
<li>JD US/3690 HK: JD, Meituan, Ele.me Summoned by Government (///)</li>
</ul>


BABA US: Alibaba’s Qwen Team to Launch AGI-like Deep Research Functionality for Free User Access(+)
BABA US: Ele.me's Retail Digital System Integrated into Taobao Instashopping (+)
JD US/3690 HK: JD, Meituan, Ele.me Summoned by Government (///)


[Blue Lotus Daily-TMT Update]:BABA US/JD US/3690 HK/PDD US/Red Note/BILI US/1810 HK

<ul>
<li>JD US/3690 HK:Both JD and Metiuan Raise Standards for Premium Food Delivery (+)</li>
<li>700 HK/1024 HK: Tencent Releases Multimodal Video Generation AI Model Hunyuan Custom (+/-)</li>
<li>BILI US: Bilibili Launches New AI Advertising Tool “Insight Agent” (+)</li>
</ul>


JD US/3690 HK:Both JD and Metiuan Raise Standards for Premium Food Delivery (+)
700 HK/1024 HK: Tencent Releases Multimodal Video Generation AI Model Hunyuan Custom (+/-)
BILI US: Bilibili Launches New AI Advertising Tool “Insight Agent” (+)


[Blue Lotus Daily-TMT Update]:JD US/3690 HK/700 HK/1024 HK/BILI US/BIDU US/BABA US

<ul>
<li>BABA US: Ele.me's Daily Food Delivery Orders via Taobao Deals Surpass 10 Million on May 5 (-)</li>
<li>TCOM US/3690 HK/ATAT US: Summary of May Day Holiday Consumption Trends.(+/+/+)</li>
<li>Entertainment Sector Update: Weak Box Office Performance During May Day Holiday Hits 8-Year Low(-)</li>
</ul>


BABA US: Ele.me's Daily Food Delivery Orders via Taobao Deals Surpass 10 Million on May 5 (-)
TCOM US/3690 HK/ATAT US: Summary of May Day Holiday Consumption Trends.(+/+/+)
Entertainment Sector Update: Weak Box Office Performance During May Day Holiday Hits 8-Year Low(-)


[Blue Lotus Daily-TMT Update]:BABA US/TCOM US/3690 HK/ATAT US/PDD US/JD US

Market & Forensics Analyst, Beat the Street

Nimish Maheshwari

Market & Forensics Analyst

Beat the Street

Beat The Street was founded by Nimish Maheshwari and Sudarshan Bhandari, both of whom are Chartered Accountants by Profession, known for their expert analysis in the fields of Business, Sectoral analysis, and Corporate governance.

With a strong social media presence of 45,000+ Subscribers across various platforms, they are considered trusted voices in the industry. Their insights and analysis have been featured in some of India’s most prominent publications, including the Economic Times, Dalal Street Investment Journal, The Morning Context, and The Ken.

Their analysis on Bankrupt & Insolvent companies has been instrumental in saving investors from significant losses. They have a keen eye for identifying red flags and has identified exclusive redflags earlier in Vedanta, Nykaa, Dhani Services, Adani and many more.

Read Business Not Stock Prices

<ul>
<li>India’s home-services spend touched INR 4.99–5.07 trn in CY 2024 and is set to reach INR 8.22–8.35 trn by CY 2029 (10-11 % CAGR).</li>
<li>Online full-stack GMV is only INR 40–42 bn (0.8 % of spend) today yet grows 20-22 % CAGR to INR 105-110 bn by CY 2029.</li>
<li>Formalisation, gig-supply depth and tech-led standardisation give platforms head-room to triple GMV and double margins within five years while still capturing &lt;2 % of TAM.</li>
</ul>


India’s home-services spend touched INR 4.99–5.07 trn in CY 2024 and is set to reach INR 8.22–8.35 trn by CY 2029 (10-11 % CAGR).
Online full-stack GMV is only INR 40–42 bn (0.8 % of spend) today yet grows 20-22 % CAGR to INR 105-110 bn by CY 2029.
Formalisation, gig-supply depth and tech-led standardisation give platforms head-room to triple GMV and double margins within five years while still capturing &lt;2 % of TAM.


Thematic Report: India Home-Services Market- Digital Disruption in ₹5 Trn TAM Market

China

Meituan is a Chinese technology company that operates a platform for local services, including on-demand food delivery, in-store services, consumer reviews, hotel and travel bookings, and instant retail. The company also offers bike sharing, e-moped sharing, and grocery delivery services. Meituan is headquartered in Beijing, China, and was founded in 2010.

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

Meituan (3690 HK)

HK Strategy: What Are Some of the HSI Laggards to Pick Up?

HSI has rebounded above pre-reciprocal tariff levels, with top stocks up 15.6%. However, 32 stocks remain negative, with ZTO Express, Budweiser...

Osbert Tang, CFA

[Blue Lotus Daily-TMT Update]:BABA US/JD US/3690 HK/PDD US/Red Note/BILI US/1810 HK

Alibaba's Qwen Team to offer AGI-like deep research for free, Ele.me's retail system integrated into Taobao Instashopping, JD, Meituan, Ele.me...

Blue Lotus Research Institute

[Blue Lotus Daily-TMT Update]:JD US/3690 HK/700 HK/1024 HK/BILI US/BIDU US/BABA US

JD and Meituan raise standards for premium food delivery, Tencent releases new AI model, Bilibili launches AI advertising tool.

Blue Lotus Research Institute

[Blue Lotus Daily-TMT Update]:BABA US/TCOM US/3690 HK/ATAT US/PDD US/JD US

Ele.me's food delivery orders via Taobao reached 10 million, May Day holiday consumption trends summarized, weak box office performance during...

Blue Lotus Research Institute

Thematic Report: India Home-Services Market- Digital Disruption in ₹5 Trn TAM Market

India's home-services market is projected to grow significantly by 2029, with online full-stack GMV also expected to increase substantially....

Nimish Maheshwari

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

HK Strategy: What Are Some of the HSI Laggards to Pick Up?

​HSI has rebounded above pre-reciprocal tariff levels, with top stocks up 15.6%. However, 32 stocks remain negative, with ZTO Express, Budweiser...

Osbert Tang, CFA

[Blue Lotus Daily-TMT Update]:BABA US/JD US/3690 HK/PDD US/Red Note/BILI US/1810 HK

​Alibaba's Qwen Team to offer AGI-like deep research for free, Ele.me's retail system integrated into Taobao Instashopping, JD, Meituan, Ele.me...

Blue Lotus Research Institute

[Blue Lotus Daily-TMT Update]:JD US/3690 HK/700 HK/1024 HK/BILI US/BIDU US/BABA US

​JD and Meituan raise standards for premium food delivery, Tencent releases new AI model, Bilibili launches AI advertising tool.

Blue Lotus Research Institute

[Blue Lotus Daily-TMT Update]:BABA US/TCOM US/3690 HK/ATAT US/PDD US/JD US

​Ele.me's food delivery orders via Taobao reached 10 million, May Day holiday consumption trends summarized, weak box office performance during...

Blue Lotus Research Institute

Thematic Report: India Home-Services Market- Digital Disruption in ₹5 Trn TAM Market

​India's home-services market is projected to grow significantly by 2029, with online full-stack GMV also expected to increase substantially....

Nimish Maheshwari

HSI has rebounded above pre-reciprocal tariff levels, with top stocks up 15.6%. However, 32 stocks remain negative, with ZTO Express, Budweiser...

Alibaba's Qwen Team to offer AGI-like deep research for free, Ele.me's retail system integrated into Taobao Instashopping, JD, Meituan, Ele.me...

JD and Meituan raise standards for premium food delivery, Tencent releases new AI model, Bilibili launches AI advertising tool.

Ele.me's food delivery orders via Taobao reached 10 million, May Day holiday consumption trends summarized, weak box office performance during...

India's home-services market is projected to grow significantly by 2029, with online full-stack GMV also expected to increase substantially....