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>While Trump's sweeping wins in presidential, senate and house, and supreme court earlier gave him unprecedented mandate to reform the US economy, his agenda is unrealistic to begin with; </li>
<li>ADS/Electrification, GAI/renewable/employment, (3) inflation/trade/ immigration are just three that the Trump Administration will likely backpedal.  Execution of Trump's economic agenda requires perfect coordination which is tough to pull off</li>
<li>For a short term trade, we recommend PDD and BYD. We also like Xiaomi. Consumption stocks can benefit from stimulus package from the Chinese government.</li>
</ul>


While Trump's sweeping wins in presidential, senate and house, and supreme court earlier gave him unprecedented mandate to reform the US economy, his agenda is unrealistic to begin with; 
ADS/Electrification, GAI/renewable/employment, (3) inflation/trade/ immigration are just three that the Trump Administration will likely backpedal.  Execution of Trump's economic agenda requires perfect coordination which is tough to pull off
For a short term trade, we recommend PDD and BYD. We also like Xiaomi. Consumption stocks can benefit from stimulus package from the Chinese government.


What Trump Can and Cannot Accomplish in His 2nd Term

<ul>
<li>MNSO US: Yonghui Supermarket's 3Q24 Revenue Falls Short of Expectations by 15%(-)</li>
<li>LI US/ NIO US : Huawei Harmony added 11,000 new orders last week, mainly due to adjustments to service expectations (///)</li>
<li>1211 HK/1810 HK/XPEV US/NIO US/LI US: In the 43rd week of electric vehicles, BYD, Xiaomi, Leap and Xpeng lead the way,but LI and NIo have reached their peaks. (/////////)</li>
</ul>


MNSO US: Yonghui Supermarket's 3Q24 Revenue Falls Short of Expectations by 15%(-)
LI US/ NIO US : Huawei Harmony added 11,000 new orders last week, mainly due to adjustments to service expectations (///)
1211 HK/1810 HK/XPEV US/NIO US/LI US: In the 43rd week of electric vehicles, BYD, Xiaomi, Leap and Xpeng lead the way,but LI and NIo have reached their peaks. (/////////)


[Blue Lotus Daily]:MNSO US/1211 HK/1810 HK/XPEV US/NIO US/LI US/LKNCY US/ATAT US/Macro Update

<ul>
<li>ZTO US: Parcel volume remains strong in first week of Double 11 sales(+)</li>
<li>ZTO US: New single day parcel volume record achieved at start of Double 11 (+)</li>
<li>2618 HK: Cainiao delivery integrated on the JD platform. (/)</li>
</ul>


ZTO US: Parcel volume remains strong in first week of Double 11 sales(+)
ZTO US: New single day parcel volume record achieved at start of Double 11 (+)
2618 HK: Cainiao delivery integrated on the JD platform. (/)


[Blue Lotus Daily]:ZTO/2618HK/NIU/603529CH/1585HK/MNSO/300750CH/1211HK/ZLAB/BZ/1810HK/AAPL/NIO/XPEV

<ul>
<li>XPEV US: Xpeng MONA M03 suffers large scale delivery delays (/)</li>
<li>1810 HK: Government official announces that Xiaomi has developed a 3nm smartphone SoC (+)</li>
<li>MNSO US: Toptoy Expands Stores to Southeast Asia (/ )</li>
</ul>


XPEV US: Xpeng MONA M03 suffers large scale delivery delays (/)
1810 HK: Government official announces that Xiaomi has developed a 3nm smartphone SoC (+)
MNSO US: Toptoy Expands Stores to Southeast Asia (/ )


[Blue Lotus Daily]:XPEV US/1810 HK/MNSO US/1519 HK/ZTO US/Macro News Update/Travel Market Update

Asia L/S Equity PM/Macro/Thematic Idea Generation

Rikki Malik

Cross Asset Strategy

<ul>
<li>Representatives of all relevant major Ministries showed up and had their say</li>
<li>As is now usual from these events some positives as well as some disappointment</li>
<li>Further steps taken to put a floor under the property market</li>
</ul>


Representatives of all relevant major Ministries showed up and had their say
As is now usual from these events some positives as well as some disappointment
Further steps taken to put a floor under the property market


Ministry of Housing Press Conference – First Take

China

MINISO Group Holding is a value retailer with a focus on offering products that are aesthetically pleasing, good-quality, and affordable.

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Miniso (MNSO US)

What Trump Can and Cannot Accomplish in His 2nd Term

Trump's ambitious economic agenda faces challenges and backpedaling. We see energy electrification, GAI power demand and inflation/immigration...

Blue Lotus Research Institute

[Blue Lotus Daily]:MNSO US/1211 HK/1810 HK/XPEV US/NIO US/LI US/LKNCY US/ATAT US/Macro Update

Yonghui Supermarket's revenue falls short by 15%, Huawei Harmony gains 11,000 new orders, BYD and Xiaomi lead in electric vehicles.

Blue Lotus Research Institute

[Blue Lotus Daily]:ZTO/2618HK/NIU/603529CH/1585HK/MNSO/300750CH/1211HK/ZLAB/BZ/1810HK/AAPL/NIO/XPEV

ZTO US sees strong parcel volume during Double 11 sales, while Cainiao delivery integrates with JD platform in 2618 HK.

Blue Lotus Research Institute

[Blue Lotus Daily]:XPEV US/1810 HK/MNSO US/1519 HK/ZTO US/Macro News Update/Travel Market Update

XPEV US faces delivery delays, 1810 HK announces Xiaomi's 3nm smartphone SoC, MNSO US expands stores to Southeast Asia.

Blue Lotus Research Institute

Ministry of Housing Press Conference – First Take

The next step on more detailed measures on stabilising the property market in China. Some big positives but disappointment likely for some

Rikki Malik

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

What Trump Can and Cannot Accomplish in His 2nd Term

​Trump's ambitious economic agenda faces challenges and backpedaling. We see energy electrification, GAI power demand and inflation/immigration...

Blue Lotus Research Institute

[Blue Lotus Daily]:MNSO US/1211 HK/1810 HK/XPEV US/NIO US/LI US/LKNCY US/ATAT US/Macro Update

​Yonghui Supermarket's revenue falls short by 15%, Huawei Harmony gains 11,000 new orders, BYD and Xiaomi lead in electric vehicles.

Blue Lotus Research Institute

[Blue Lotus Daily]:ZTO/2618HK/NIU/603529CH/1585HK/MNSO/300750CH/1211HK/ZLAB/BZ/1810HK/AAPL/NIO/XPEV

​ZTO US sees strong parcel volume during Double 11 sales, while Cainiao delivery integrates with JD platform in 2618 HK.

Blue Lotus Research Institute

[Blue Lotus Daily]:XPEV US/1810 HK/MNSO US/1519 HK/ZTO US/Macro News Update/Travel Market Update

​XPEV US faces delivery delays, 1810 HK announces Xiaomi's 3nm smartphone SoC, MNSO US expands stores to Southeast Asia.

Blue Lotus Research Institute

Ministry of Housing Press Conference – First Take

The next step on more detailed measures on stabilising the property market in China. Some big positives but disappointment likely for some

Rikki Malik

Trump's ambitious economic agenda faces challenges and backpedaling. We see energy electrification, GAI power demand and inflation/immigration...

Yonghui Supermarket's revenue falls short by 15%, Huawei Harmony gains 11,000 new orders, BYD and Xiaomi lead in electric vehicles.

ZTO US sees strong parcel volume during Double 11 sales, while Cainiao delivery integrates with JD platform in 2618 HK.

XPEV US faces delivery delays, 1810 HK announces Xiaomi's 3nm smartphone SoC, MNSO US expands stores to Southeast Asia.