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>JD US/BABA US/3690 HK: Food Delivery Subsidy Rules Adjusted Again, Merchant Share Rises to 70% (+/+/+)</li>
<li>TCOM US: Stable Traffic Growth in Dragon Boat Festival Traffic(+)</li>
<li>TCOM US:Daily cross-border trips during Dragon Boat Festival holiday hit 2.15m (-)</li>
</ul>


JD US/BABA US/3690 HK: Food Delivery Subsidy Rules Adjusted Again, Merchant Share Rises to 70% (+/+/+)
TCOM US: Stable Traffic Growth in Dragon Boat Festival Traffic(+)
TCOM US:Daily cross-border trips during Dragon Boat Festival holiday hit 2.15m (-)


[Blue Lotus Daily-TMT Update]:JD US/BABA US/3690HK/TCOM US/1024HK/700HK/PONY US/BIDU US/WRD US/GOOGL

Articles from Caixin Global, Caixin Global

Caixin Global

Articles from Caixin Global

Caixin is a media group dedicated to providing financial and business news through periodicals, online content, mobile apps, conferences, books and TV/video programs. Caixin aims to blaze a trail that helps traditional media prosper in the new media age through integrated multimedia platforms.

News from Caixin

Cross Asset Strategy

<ul><li>Steel /In Depth: British Steel takeover leaves Chinese firm in limbo</li><li>Wanda /: Wanda to sell 48 malls to ease debt woes</li><li>ID /China stresses soon-to-launch national digital ID will be voluntary</li><li>Interest rate /Commentary: Is China headed for a zero interestrate era?</li></ul>

Steel /In Depth: British Steel takeover leaves Chinese firm in limboWanda /: Wanda to sell 48 malls to ease debt woesID /China stresses soon-to-launch national digital ID will be voluntaryInterest rate /Commentary: Is China headed for a zero interestrate era?

CX Daily: Wanda to Sell 48 Malls to Ease Debt Woes 

<ul>
<li>700 HK/BIDU US: Tencent announced a comprehensive AI technology upgrade for its browser product "QQ Browser" (+/-/-)</li>
<li>700 HK: Tencent's &lt;Final Fantasy 14 Mobile&gt; to Launch Technical Beta Test (+)</li>
<li>AAPL US/BABA US: Alibaba and Apple's AI collaboration faces US government scrutiny (-/-)</li>
</ul>


700 HK/BIDU US: Tencent announced a comprehensive AI technology upgrade for its browser product "QQ Browser" (+/-/-)
700 HK: Tencent's &lt;Final Fantasy 14 Mobile&gt; to Launch Technical Beta Test (+)
AAPL US/BABA US: Alibaba and Apple's AI collaboration faces US government scrutiny (-/-)


[Blue Lotus Daily-TMT Update]:700 HK/BIDU/AAPL/BABA US/3690 HK/PDD US/TCOMUS/1024 HK/WRD US/PONY US/

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

<ul>
<li>Our outlook remains bullish on global equities (MSCI ACWI). We've been bullish since early-November 2023, save for a two month period from late-July to late-September 2024 when we were neutral.</li>
<li>We also believe the U.S. dollar (DXY) and Treasury yields have put in major tops, which is a crucial risk-on signal for global equities.</li>
<li>With more and more countries breaking out, we remain bullish as long as ACWI-US is above $116, S&amp;P 500 is above 5770-5850, and EURO STOXX 50 is above 5030.</li>
</ul>


Our outlook remains bullish on global equities (MSCI ACWI). We've been bullish since early-November 2023, save for a two month period from late-July to late-September 2024 when we were neutral.
We also believe the U.S. dollar (DXY) and Treasury yields have put in major tops, which is a crucial risk-on signal for global equities.
With more and more countries breaking out, we remain bullish as long as ACWI-US is above $116, S&amp;P 500 is above 5770-5850, and EURO STOXX 50 is above 5030.


Major Top for the U.S. Dollar (DXY) = Risk-On; Bullish Outlook Despite Near-Term Downside Risk

<ul>
<li>Most Western media viewed Xi's weekend handshake with Ma in the meeting with business leaders over the weekend as historical reconciliation. We believe it dangerously missed the mark; </li>
<li>Watch Jiang Fan...His next move to revitalize Taobao/Tmall could mean headwinds to Pinduoduo and JD.com. Taobao/Tmall performed well during CNY;</li>
<li>Alibaba's Apple grab shows its unique ecosystem position in the US-China macrocosm. JD's entry to O2O showed it needed a new growth driver post 2025. </li>
</ul>


Most Western media viewed Xi's weekend handshake with Ma in the meeting with business leaders over the weekend as historical reconciliation. We believe it dangerously missed the mark; 
Watch Jiang Fan...His next move to revitalize Taobao/Tmall could mean headwinds to Pinduoduo and JD.com. Taobao/Tmall performed well during CNY;
Alibaba's Apple grab shows its unique ecosystem position in the US-China macrocosm. JD's entry to O2O showed it needed a new growth driver post 2025. 


[Blue Lotus Non-US Internet Weekly, 7/52]: Xi's Meeting with Ma Went Way Beyond Just Reconciliation

China

Pony AI Inc. operates as an autonomous vehicle technology company. The Company provides autonomous driving technology solutions to deliver safe, sustainable, and accessible mobility to people and businesses around the world. Pony AI serves customers globally.

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Pony AI (PONY US)

[Blue Lotus Daily-TMT Update]:JD US/BABA US/3690HK/TCOM US/1024HK/700HK/PONY US/BIDU US/WRD US/GOOGL

Food delivery subsidy rules adjusted, merchant share rises to 70%. Stable traffic growth for TCOM during Dragon Boat Festival, but daily cross...

Blue Lotus Research Institute

CX Daily: Wanda to Sell 48 Malls to Ease Debt Woes

TOP STORIES Steel / In Depth: British Steel takeover leaves Chinese firm in limbo In an unusual move, the U. K. government recalled Parliament...

Caixin Global

[Blue Lotus Daily-TMT Update]:700 HK/BIDU/AAPL/BABA US/3690 HK/PDD US/TCOMUS/1024 HK/WRD US/PONY US/

Tencent upgrades QQ Browser with AI, launches Final Fantasy 14 Mobile beta; Alibaba and Apple's AI collaboration under US government scrutiny.

Blue Lotus Research Institute

Major Top for the U.S. Dollar (DXY) = Risk-On; Bullish Outlook Despite Near-Term Downside Risk

Major Top for the U.S. Dollar $DXY = Risk-On; Bullish Outlook Intact on $ACWI despite near-term downside risk. We remain bullish if $ACWI > $116,...

Vermilion Research

[Blue Lotus Non-US Internet Weekly, 7/52]: Xi's Meeting with Ma Went Way Beyond Just Reconciliation

Western media praised Xi's handshake with Ma as historic, but missed the mark. Alibaba's moves could impact Pinduoduo and JD.com, highlighting its...

Blue Lotus Research Institute

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

[Blue Lotus Daily-TMT Update]:JD US/BABA US/3690HK/TCOM US/1024HK/700HK/PONY US/BIDU US/WRD US/GOOGL

​Food delivery subsidy rules adjusted, merchant share rises to 70%. Stable traffic growth for TCOM during Dragon Boat Festival, but daily cross...

Blue Lotus Research Institute

CX Daily: Wanda to Sell 48 Malls to Ease Debt Woes

TOP STORIES Steel / In Depth: British Steel takeover leaves Chinese firm in limbo In an unusual move, the U. K. government recalled Parliament...

Caixin Global

[Blue Lotus Daily-TMT Update]:700 HK/BIDU/AAPL/BABA US/3690 HK/PDD US/TCOMUS/1024 HK/WRD US/PONY US/

​Tencent upgrades QQ Browser with AI, launches Final Fantasy 14 Mobile beta; Alibaba and Apple's AI collaboration under US government scrutiny.

Blue Lotus Research Institute

Major Top for the U.S. Dollar (DXY) = Risk-On; Bullish Outlook Despite Near-Term Downside Risk

Major Top for the U.S. Dollar $DXY = Risk-On; Bullish Outlook Intact on $ACWI despite near-term downside risk. We remain bullish if $ACWI > $116,...

Vermilion Research

[Blue Lotus Non-US Internet Weekly, 7/52]: Xi's Meeting with Ma Went Way Beyond Just Reconciliation

​Western media praised Xi's handshake with Ma as historic, but missed the mark. Alibaba's moves could impact Pinduoduo and JD.com, highlighting its...

Blue Lotus Research Institute

Food delivery subsidy rules adjusted, merchant share rises to 70%. Stable traffic growth for TCOM during Dragon Boat Festival, but daily cross...

Tencent upgrades QQ Browser with AI, launches Final Fantasy 14 Mobile beta; Alibaba and Apple's AI collaboration under US government scrutiny.

Western media praised Xi's handshake with Ma as historic, but missed the mark. Alibaba's moves could impact Pinduoduo and JD.com, highlighting its...