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

Thematic (Sector/Industry)

<ul>
<li>700 HK: Institutions Report &lt;DnF Mobile&gt;'s First-Month Revenue Exceeds US$270mn; We Expected to Rise Further After June 20 Update(+)</li>
<li>700 HK: Tencent's &lt;Peacekeeper Elite&gt; New Version Adds Two New Playable Modes, Positive Player Recall Performance(+)</li>
<li>BABA US/BIDU US:  LLM failed Chinese Gaokao with Math the biggest challenge(+/-)</li>
</ul>


700 HK: Institutions Report &lt;DnF Mobile&gt;'s First-Month Revenue Exceeds US$270mn; We Expected to Rise Further After June 20 Update(+)
700 HK: Tencent's &lt;Peacekeeper Elite&gt; New Version Adds Two New Playable Modes, Positive Player Recall Performance(+)
BABA US/BIDU US:  LLM failed Chinese Gaokao with Math the biggest challenge(+/-)


[Blue Lotus Daily - TMT Update]:700 HK/BABAUS/BIDUUS/TCOMUS/NTESUS/AAPLUS/002624 CH/259960KRX/NVDAUS

AI and Global Deep Tech, Mint Finance

Uttkarsh Kohli

AI and Global Deep Tech

Deep Fundamental Analysis

Mint Finance

Mint Finance's investment research blends deep fundamental analysis with technical & quant insights. Investment strategies straddle across multiple asset classes with risk management embedded into every trade to deliver an outsized reward-to-risk ratio.

Mint Finance's research is centered around three key themes. First, energy transition and climate change. Second, artificial intelligence. Third, shifting world order with its impact across politics and monetary economics.

Equity Bottom-Up

<ul>
<li>Mega cap stocks like Nvidia, Alphabet, and Microsoft surpass lofty market expectations, in the latest earnings season leading to continued rallies. </li>
<li>Profits from AI innovations are accumulating predominantly at the bottom of the supply chain, benefiting large hardware and cloud service providers. </li>
<li>Smaller tech companies, including Salesforce, MongoDB, and Dell, have experienced sharp corrections due to lofty expectations and their limited capacity to generate significant AI revenue.</li>
</ul>


Mega cap stocks like Nvidia, Alphabet, and Microsoft surpass lofty market expectations, in the latest earnings season leading to continued rallies. 
Profits from AI innovations are accumulating predominantly at the bottom of the supply chain, benefiting large hardware and cloud service providers. 
Smaller tech companies, including Salesforce, MongoDB, and Dell, have experienced sharp corrections due to lofty expectations and their limited capacity to generate significant AI revenue.


Mega Caps Thrive But Other Tech Firms Are Punished for Lack of AI-Linked Earnings Potential

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Equity Capital Markets

SenseTime Group  / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/sensetime-group-inc" target="_blank" data-smartkarma-citation="entities:34319:1" rel="noopener">SenseTime Group (20 HK)</a>  aims to raise up to US$263m via selling around 4.5% stake.</li>
<li>Sensetime hasn’t had the best of times since listing, however, the shares have rebounded recently on generative AI buzz around the stock.</li>
<li>In this note, we will talk about the placement and run the deal through our ECM framework.</li>
</ul>



SenseTime Group (20 HK)  aims to raise up to US$263m via selling around 4.5% stake.
Sensetime hasn’t had the best of times since listing, however, the shares have rebounded recently on generative AI buzz around the stock.
In this note, we will talk about the placement and run the deal through our ECM framework.


Sensetime Placement - Seems Highly Opportunistic

Global Commodities, Mint Finance

Srinidhi Raghavendra

Global Commodities

<ul>
<li>NVIDIA deploys a three-pronged strategy to support the rapidly growing AI ecosystem. First, Corporate Investments. Second, NVentures. Third, NVIDIA Inception.</li>
<li>NVentures supports innovators who are deeply relevant to NVIDIA. NVentures aims to produce solid financial returns while growing the ecosystem.</li>
<li>NVIDIA participated in 35 deals in 2023 (6x more than in 2022). It has been more active than firm like Andreessen Horowitz and Sequoia.</li>
</ul>


NVIDIA deploys a three-pronged strategy to support the rapidly growing AI ecosystem. First, Corporate Investments. Second, NVentures. Third, NVIDIA Inception.
NVentures supports innovators who are deeply relevant to NVIDIA. NVentures aims to produce solid financial returns while growing the ecosystem.
NVIDIA participated in 35 deals in 2023 (6x more than in 2022). It has been more active than firm like Andreessen Horowitz and Sequoia.


Unpacking NVIDIA's NVentures; When a Doctor Gets Clinical On Early Stage Investments

Managing Director, Zero One, Zero One

Vincent Fernando, CFA

Managing Director, Zero One

Zero One

Founded in 2015, Zero One produces independent investment research and provides corporate finance advisory services with a focus on both listed and private technology companies. Founder Vincent Fernando has over 20 years of experience in US and Asia capital markets.

Independent Investment Research

<ul>
<li>Computex showed how Micron has successfully leap-frogged SK Hynix and Samsung in HBM DRAM for AI Servers.</li>
<li>Now, older 'boring' DRAM prices could surge as HBM DRAM production is voraciously consuming memory fab capacity.</li>
<li>Why Nanya Tech shares could surge higher -- A DRAM memory trade for those who don't want to chase steep 52-week highs in Micron and SK Hynix.</li>
</ul>


Computex showed how Micron has successfully leap-frogged SK Hynix and Samsung in HBM DRAM for AI Servers.
Now, older 'boring' DRAM prices could surge as HBM DRAM production is voraciously consuming memory fab capacity.
Why Nanya Tech shares could surge higher -- A DRAM memory trade for those who don't want to chase steep 52-week highs in Micron and SK Hynix.


Memory Monitor: Computex Showed Micron Leapfrog SK Hynix and Samsung; 'Boring' DRAM Could Now Hot Up

United States

NVIDIA Corporation designs, develops, and markets three dimensional (3D) graphics processors and related software.  The Company's products provide interactive 3D graphics to the mainstream personal computer market.

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NVIDIA Corp (NVDA US)

[Blue Lotus Daily - TMT Update]:700 HK/BABAUS/BIDUUS/TCOMUS/NTESUS/AAPLUS/002624 CH/259960KRX/NVDAUS

DnF Mobile's first-month revenue exceeds $270mn, Tencent's Peacekeeper Elite adds new playable modes, and Chinese Gaokao math challenge affects LLM.

Blue Lotus Research Institute

Mega Caps Thrive But Other Tech Firms Are Punished for Lack of AI-Linked Earnings Potential

Amidst a robust AI-driven rally led by industry giants, other tech firms face headwinds as they struggle to capitalize on AI hype; recalibration of...

Mint Finance

Sensetime Placement - Seems Highly Opportunistic

SenseTime Group (20 HK) aims to raise up to US$263m via selling around 4.5% stake. In this note, we run the deal through our ECM framework.

Sumeet Singh

Unpacking NVIDIA's NVentures; When a Doctor Gets Clinical On Early Stage Investments

NVIDIA became the world's most valuable company on Tuesday. It share prices roared to a high of USD 135.58 marking a market capitalisation of USD...

Mint Finance

Memory Monitor: Computex Showed Micron Leapfrog SK Hynix and Samsung; 'Boring' DRAM Could Now Hot Up

Micron's HBM DRAM shined alongside Nvidia at Computex. But now the HBM DRAM craze could drive a surge in traditional DRAM prices. Nanya Tech would...

Vincent Fernando, CFA

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52-week Range

Market Cap (USDm)

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[Blue Lotus Daily - TMT Update]:700 HK/BABAUS/BIDUUS/TCOMUS/NTESUS/AAPLUS/002624 CH/259960KRX/NVDAUS

​DnF Mobile's first-month revenue exceeds $270mn, Tencent's Peacekeeper Elite adds new playable modes, and Chinese Gaokao math challenge affects LLM.

Blue Lotus Research Institute

Mega Caps Thrive But Other Tech Firms Are Punished for Lack of AI-Linked Earnings Potential

Amidst a robust AI-driven rally led by industry giants, other tech firms face headwinds as they struggle to capitalize on AI hype; recalibration of...

Mint Finance

Sensetime Placement - Seems Highly Opportunistic

SenseTime Group (20 HK) aims to raise up to US$263m via selling around 4.5% stake. In this note, we run the deal through our ECM framework.

Sumeet Singh

Unpacking NVIDIA's NVentures; When a Doctor Gets Clinical On Early Stage Investments

NVIDIA became the world's most valuable company on Tuesday. It share prices roared to a high of USD 135.58 marking a market capitalisation of USD...

Mint Finance

Memory Monitor: Computex Showed Micron Leapfrog SK Hynix and Samsung; 'Boring' DRAM Could Now Hot Up

​Micron's HBM DRAM shined alongside Nvidia at Computex. But now the HBM DRAM craze could drive a surge in traditional DRAM prices. Nanya Tech would...

Vincent Fernando, CFA

DnF Mobile's first-month revenue exceeds $270mn, Tencent's Peacekeeper Elite adds new playable modes, and Chinese Gaokao math challenge affects LLM.

Micron's HBM DRAM shined alongside Nvidia at Computex. But now the HBM DRAM craze could drive a surge in traditional DRAM prices. Nanya Tech would...