Blue Lotus Research Institute

Andy Fu

China growth and global non-US Internet equities

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>Beijing launched the use of medical social insurance (MSI) via online payments, marking MSI payable among all the 1st tier cities in China. But the policy only covers non-prescription;</li>
<li>However, the progress for the online penetration of MSI payment was still slow, reaching only 3.6% of all MSI capable pharmacies and 0.8% of all pharmacies in China;</li>
<li>The reason for the slow adoption is the vested, interlinked interests among local public hospitals, local MSI administrators and public security concerns over drug disbursement.</li>
</ul>


Beijing launched the use of medical social insurance (MSI) via online payments, marking MSI payable among all the 1st tier cities in China. But the policy only covers non-prescription;
However, the progress for the online penetration of MSI payment was still slow, reaching only 3.6% of all MSI capable pharmacies and 0.8% of all pharmacies in China;
The reason for the slow adoption is the vested, interlinked interests among local public hospitals, local MSI administrators and public security concerns over drug disbursement.


Despite Many Years and Efforts, Insurance Covered Online Pharmacies Still Only 0.8-3.6% of Total

Blue Lotus Non US Internet research, Blue Lotus Research Institute

Ying Pan

Blue Lotus Non US Internet research

<ul>
<li>BABA US/JD US/3690 HK: Taobao adds one-hour delivery entrance to app homepage (+/-/-)</li>
<li>BABA US: Alibaba upgrades enterprise-chat application “DingTalk” into an AI super-app (+)</li>
<li>TCOM US :The average ticket price for domestic routes during the summer vacation period decreased by 12%, with a narrowing decline (+)</li>
</ul>


BABA US/JD US/3690 HK: Taobao adds one-hour delivery entrance to app homepage (+/-/-)
BABA US: Alibaba upgrades enterprise-chat application “DingTalk” into an AI super-app (+)
TCOM US :The average ticket price for domestic routes during the summer vacation period decreased by 12%, with a narrowing decline (+)


[Blue Lotus Daily-TMT Update]:BABA US/JD US/3690 HK/TCOM US/NTES US/700 HK/

<ul>
<li>JD US/PDD US /BABA US: JD launches new low-priced initiative to target lower-tier market (+/-/-)</li>
<li>BABA US/BILI US/BIDU US/700HK: Bilibili and Xiaohongshu inaccessible after 38-minute cloud crash (-/-/+/+)</li>
<li>700 HK: Tencent announces upgraded LLM training system . (+)</li>
</ul>


JD US/PDD US /BABA US: JD launches new low-priced initiative to target lower-tier market (+/-/-)
BABA US/BILI US/BIDU US/700HK: Bilibili and Xiaohongshu inaccessible after 38-minute cloud crash (-/-/+/+)
700 HK: Tencent announces upgraded LLM training system . (+)


[Blue Lotus Daily-TMT Update]:JD/PDD/BABA/BILI/BIDU/700HK/3888HK/1024HK/NTES /3690HK/TCOM/SE/CPNG/BZ

<ul>
<li>700 HK/BIDU US/BABA US/0020 HK: Chinese Domestic AI Model Providers Announce Discount Policies to Capture Market Following OpenAI's Withdrawal from China(+//////)</li>
<li>700 HK: Tencent Releases 2024 Summer Vacation Playtime Schedule for Minors(/)</li>
<li>NTES US: &lt;World of Warcraft Official&gt; Servers to Launch on August 1, All Players Get 14 Days Free Game Time (+)</li>
</ul>


700 HK/BIDU US/BABA US/0020 HK: Chinese Domestic AI Model Providers Announce Discount Policies to Capture Market Following OpenAI's Withdrawal from China(+//////)
700 HK: Tencent Releases 2024 Summer Vacation Playtime Schedule for Minors(/)
NTES US: &lt;World of Warcraft Official&gt; Servers to Launch on August 1, All Players Get 14 Days Free Game Time (+)


[Blue Lotus Daily - TMT Update]:700 HK/BIDU US/BABA US/0020 HK/NTES US/3690 HK

Asia Pac ECM and Index Rebal, Shenton Research

Ke Yan, CFA, FRM

Asia Pac ECM and Index Rebal

Asia Pac IPO & Placement Research, China Biotech

Shenton Research

Shenton Research is an independent Asia Pacific equity specialist. Our quantitative research covers index rebalancing flows, alongside exchange data analytics accross Asia Pacific. On the equity capital markets side, we focus on Asia Pacific ECM, especially biotech and TMT. Our lead analyst is frequently cited by international media.

Quantitative Analysis

<ul>
<li>We analysed the earning revision of component stocks of MS-China in the past month.</li>
<li>We tabulated stocks with the top impact on index's EPS, stocks' EPS revision, and revenue revision.</li>
<li>We highlighted EPS revision on KINGBOARD HLDG, LI AUTO, XIAOMI, TRINA SOLAR, TENCENT, CHINA LIFE, GCL TECHNOLOGY, PDD.</li>
</ul>


We analysed the earning revision of component stocks of MS-China in the past month.
We tabulated stocks with the top impact on index's EPS, stocks' EPS revision, and revenue revision.
We highlighted EPS revision on KINGBOARD HLDG, LI AUTO, XIAOMI, TRINA SOLAR, TENCENT, CHINA LIFE, GCL TECHNOLOGY, PDD.


MS-China Index Earning Revision (Aug): KINGBOARD HLDG, LI AUTO, XIAOMI, TRINA SOLAR, TENCENT, PDD

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)

Despite Many Years and Efforts, Insurance Covered Online Pharmacies Still Only 0.8-3.6% of Total

Beijing introduces online payments for medical social insurance, but slow adoption due to vested interests of the state healthcare complex and...

Blue Lotus Research Institute

[Blue Lotus Daily-TMT Update]:BABA US/JD US/3690 HK/TCOM US/NTES US/700 HK/

Alibaba enhances delivery service and AI capabilities, while domestic flight ticket prices see a slight decrease during summer vacation period.

Blue Lotus Research Institute

[Blue Lotus Daily-TMT Update]:JD/PDD/BABA/BILI/BIDU/700HK/3888HK/1024HK/NTES /3690HK/TCOM/SE/CPNG/BZ

JD launches new low-priced initiative to target lower-tier market, Bilibili and Xiaohongshu experience cloud crash, Tencent announces upgraded LLM...

Blue Lotus Research Institute

[Blue Lotus Daily - TMT Update]:700 HK/BIDU US/BABA US/0020 HK/NTES US/3690 HK

Chinese AI companies offer discounts to compete after OpenAI exits China, Tencent releases summer schedule for minors, World of Warcraft servers...

Blue Lotus Research Institute

MS-China Index Earning Revision (Aug): KINGBOARD HLDG, LI AUTO, XIAOMI, TRINA SOLAR, TENCENT, PDD

We analyzed MS-China's consensus for Aug 2026 and highlighted changes of EPS in KINGBOARD HLDG, LI AUTO, XIAOMI, TRINA SOLAR, TENCENT, CHINA LIFE,...

Ke Yan, CFA, FRM

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Despite Many Years and Efforts, Insurance Covered Online Pharmacies Still Only 0.8-3.6% of Total

​Beijing introduces online payments for medical social insurance, but slow adoption due to vested interests of the state healthcare complex and...

Blue Lotus Research Institute

[Blue Lotus Daily-TMT Update]:BABA US/JD US/3690 HK/TCOM US/NTES US/700 HK/

​Alibaba enhances delivery service and AI capabilities, while domestic flight ticket prices see a slight decrease during summer vacation period.

Blue Lotus Research Institute

[Blue Lotus Daily-TMT Update]:JD/PDD/BABA/BILI/BIDU/700HK/3888HK/1024HK/NTES /3690HK/TCOM/SE/CPNG/BZ

​JD launches new low-priced initiative to target lower-tier market, Bilibili and Xiaohongshu experience cloud crash, Tencent announces upgraded LLM...

Blue Lotus Research Institute

[Blue Lotus Daily - TMT Update]:700 HK/BIDU US/BABA US/0020 HK/NTES US/3690 HK

​Chinese AI companies offer discounts to compete after OpenAI exits China, Tencent releases summer schedule for minors, World of Warcraft servers...

Blue Lotus Research Institute

MS-China Index Earning Revision (Aug): KINGBOARD HLDG, LI AUTO, XIAOMI, TRINA SOLAR, TENCENT, PDD

We analyzed MS-China's consensus for Aug 2026 and highlighted changes of EPS in KINGBOARD HLDG, LI AUTO, XIAOMI, TRINA SOLAR, TENCENT, CHINA LIFE,...

Ke Yan, CFA, FRM

Beijing introduces online payments for medical social insurance, but slow adoption due to vested interests of the state healthcare complex and...

Alibaba enhances delivery service and AI capabilities, while domestic flight ticket prices see a slight decrease during summer vacation period.

JD launches new low-priced initiative to target lower-tier market, Bilibili and Xiaohongshu experience cloud crash, Tencent announces upgraded LLM...

Chinese AI companies offer discounts to compete after OpenAI exits China, Tencent releases summer schedule for minors, World of Warcraft servers...