China/Asia TMT

Shawn Yang

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>KE Holdings: Beijing plans to standardize the registration and supervision process of real estate brokerage agents, and no mention of commission cap</li>
<li>2150HK : Nayuki officially announced the opening of franchise business with high requirements, bodes well for margin improvement.（+）</li>
<li>3690.HK: Meituan recruiting 3P delivery partners in lower tier markets (+)</li>
</ul>


KE Holdings: Beijing plans to standardize the registration and supervision process of real estate brokerage agents, and no mention of commission cap
2150HK : Nayuki officially announced the opening of franchise business with high requirements, bodes well for margin improvement.（+）
3690.HK: Meituan recruiting 3P delivery partners in lower tier markets (+)


China TMT Update-BEKE/2150HK/3690HK-Meituan Recruiting 3P Delivery Partners in Lower Tier Markets

<ul>
<li>PDD/BABA: PDD testing large “RMB 9.9” channel entrance on the PDD app homepage (+/-)</li>
<li>BEKE: Beike announced to expand business toward industry upstream, establishing “Bei Hao Jia” business line(+)</li>
<li>Luckin Coffee &amp; Nayuki: Media survey suggest that coffee price war is hurting milk tea’s business</li>
</ul>


PDD/BABA: PDD testing large “RMB 9.9” channel entrance on the PDD app homepage (+/-)
BEKE: Beike announced to expand business toward industry upstream, establishing “Bei Hao Jia” business line(+)
Luckin Coffee &amp; Nayuki: Media survey suggest that coffee price war is hurting milk tea’s business


China TMT Update-PDD/BABA/BEKE/LUCKIN- PDD Testing “RMB 9.9” Channel;BEKE Launching “Bei Hao Jia”

<ul>
<li>NTES/700.HK: China’s NPPA publishes list of 89 domestic game code approval</li>
<li>9995HK/1801HK：RemeGen explored ADC-PD1 combination theray for its RC88 and RC108 with Innovent (-)</li>
<li>LKNCY/2150HK/ATAT/3690HK: Tourism spending maintain stable growth during Dragon Boat Festival, indicating sustainable recovery in service oriented consumption in China.(+)</li>
</ul>


NTES/700.HK: China’s NPPA publishes list of 89 domestic game code approval
9995HK/1801HK：RemeGen explored ADC-PD1 combination theray for its RC88 and RC108 with Innovent (-)
LKNCY/2150HK/ATAT/3690HK: Tourism spending maintain stable growth during Dragon Boat Festival, indicating sustainable recovery in service oriented consumption in China.(+)


China TMT Update-NTES/700.HK/9995HK/1801HK/LKNCY/2150HK/ATAT/3690HK:Game Code,ADC-PD1, Tourism Spend

<ul>
<li>Luckin Coffee: Luckin Coffee sold 39mn cups of coffee in the first week of full launch of RMB9.9 per cup.</li>
<li>Nayuki: Media report that Nayuki may begin the franchise business in July</li>
<li>3690.HK/Douyin app is currently creating independent "entrances" and a "mall" for food delivery.</li>
</ul>


Luckin Coffee: Luckin Coffee sold 39mn cups of coffee in the first week of full launch of RMB9.9 per cup.
Nayuki: Media report that Nayuki may begin the franchise business in July
3690.HK/Douyin app is currently creating independent "entrances" and a "mall" for food delivery.


China TMT Update June 14-Luckin/Nayuki/3690.HK:Luckin Sold 39mn Cups of Coffee in the First Week

<ul>
<li>XPEV: XPeng begins pre-sales of G6 with starting price at RMB 225k (+)</li>
<li>Nayuki: Chabaidao finished a round of private equity financing at RMB18bn valuation</li>
<li>PDD/ 4385.JP/ 4689.JP/ 4755.JP/ AMZN.US/ Shein: Temu could soon launch in Japan (+/-/-/-/-/-)</li>
</ul>


XPEV: XPeng begins pre-sales of G6 with starting price at RMB 225k (+)
Nayuki: Chabaidao finished a round of private equity financing at RMB18bn valuation
PDD/ 4385.JP/ 4689.JP/ 4755.JP/ AMZN.US/ Shein: Temu could soon launch in Japan (+/-/-/-/-/-)


China TMT UpdateXPEV/TESLA/Nayuki/PDD/4385.JP/ 4689.JP/4755.JP: Pre-Sales of G6, Temu Comes to Japan

Hong Kong

Nayuki Holdings Limited operates as a holding compnay. The Company, through its subsidiaries, produces and retails tea and bakery products. Nayuki serves customers in China.

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Nayuki Holdings (2150 HK)

China TMT Update-BEKE/2150HK/3690HK-Meituan Recruiting 3P Delivery Partners in Lower Tier Markets

KE Holdings: Beijing plans to standardize the process of real estate brokerage agents;2150HK : Nayuki announced the opening of franchise;3690.HK:...

Blue Lotus Research Institute

China TMT Update-PDD/BABA/BEKE/LUCKIN- PDD Testing “RMB 9.9” Channel;BEKE Launching “Bei Hao Jia”

PDD/BABA: PDD testing large “RMB 9.9” channel entrance (+/-);BEKE: Beike establishing “Bei Hao Jia” (+);Luckin Coffee & Nayuki: Media survey...

Blue Lotus Research Institute

China TMT Update-NTES/700.HK/9995HK/1801HK/LKNCY/2150HK/ATAT/3690HK:Game Code,ADC-PD1, Tourism Spend

NTES/700.HK: 89 domestic game code approval；9995HK/1801HK：RemeGen explored ADC-PD1 combination theray；LKNCY/2150HK/ATAT/3690HK: Tourism spending...

Blue Lotus Research Institute

China TMT Update June 14-Luckin/Nayuki/3690.HK:Luckin Sold 39mn Cups of Coffee in the First Week

Luckin Coffee: 39mn cups in the first week of full launch of RMB9.9 per cup. Nayuki: Nayuki may begin the franchise business in July. 3690.HK:...

Blue Lotus Research Institute

China TMT UpdateXPEV/TESLA/Nayuki/PDD/4385.JP/ 4689.JP/4755.JP: Pre-Sales of G6, Temu Comes to Japan

XPEV: XPeng begins pre-sales of G6 ， Nayuki: Chabaidao finished a round of private equity financing at RMB18bn valuation，PDD/4385.JP/4689.JP/...

Blue Lotus Research Institute

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