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>Macro News Update: Our take from the decision draft of the CCP 3rd Plenary Session</li>
<li>1519 HK/ZTO US: Weekly parcel volume shows 31% y-o-y growth (+)</li>
<li>1810 HK/981 HK: Huawei’s mid-premium Nova 13 smartphone to be delayed (+//)</li>
</ul>


Macro News Update: Our take from the decision draft of the CCP 3rd Plenary Session
1519 HK/ZTO US: Weekly parcel volume shows 31% y-o-y growth (+)
1810 HK/981 HK: Huawei’s mid-premium Nova 13 smartphone to be delayed (+//)


[Blue Lotus Daily]:1519 HK/ZTO US/1810 HK/981 HK/XPEV US/LI US/NIO US/QCOM US/TSMC US

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

Equity Bottom-Up

TSMC (Taiwan Semiconductor Manufacturing) - ADR / Equity Bottom-Up

TSMC (Taiwan Semiconductor Manufacturing) - ADR

<ul>
<li>Taiwan Stocks Fall On Potential New U.S. Tech Restrictions for China &amp; Potential Policy Shift from a Trump White House... Strong TSMC &amp; ASML Results Fail to Rally the Sector</li>
<li>Even Tighter Technology Restrictions for China?  -- US Could Use Special Rule to Restrict Selling of Products Made by Foreign Companies</li>
<li>We See TSMC's Margins Increasing Much Higher Than Guidance in Long-Term; 2Q24 Shows Apple Ramping Up </li>
</ul>


Taiwan Stocks Fall On Potential New U.S. Tech Restrictions for China &amp; Potential Policy Shift from a Trump White House... Strong TSMC &amp; ASML Results Fail to Rally the Sector
Even Tighter Technology Restrictions for China?  -- US Could Use Special Rule to Restrict Selling of Products Made by Foreign Companies
We See TSMC's Margins Increasing Much Higher Than Guidance in Long-Term; 2Q24 Shows Apple Ramping Up 


Taiwan Tech Weekly: Strong TSMC & ASML Data Fails to Rally the Semiconductor Sector

Taiwan Tech Focused Senior Analyst

Patrick Liao

<ul>
<li>
<a href="https://www.smartkarma.com/entities/mediatek-inc" target="_blank" data-smartkarma-citation="entities:772:1" rel="noopener">Mediatek Inc (2454 TT)</a> is forecasted to experience slight growth in 3Q24 compared to 2Q24.  </li>
<li>
<a href="https://www.smartkarma.com/entities/qualcomm-inc" target="_blank" data-smartkarma-citation="entities:969:1" rel="noopener">Qualcomm Inc (QCOM US)</a> is expected to introduce AI PCs in 2024, while Mediatek Inc (2454 TT) scheduled for this product is anticipated to delivered in 2H25.  </li>
<li>The shipment forecast for the Dimensity 9400 is approximately 5 million sets in 2H24.</li>
</ul>



Mediatek Inc (2454 TT) is forecasted to experience slight growth in 3Q24 compared to 2Q24.  

Qualcomm Inc (QCOM US) is expected to introduce AI PCs in 2024, while Mediatek Inc (2454 TT) scheduled for this product is anticipated to delivered in 2H25.  
The shipment forecast for the Dimensity 9400 is approximately 5 million sets in 2H24.


MediaTek (2454.TT): 3Q24 Might Grow Slightly QoQ, While AI PCs Could Be Delivered in 2H25.

<ul>
<li>981 HK/1810 HK: Huawei to launch updated Nova series smartphones (+//)</li>
<li>BEKE US:China's residential property prices show narrowing MoM decline in June (+)</li>
<li>1810 HK/AAPL US: IDC publishes 2Q24 smartphone sales data (+)</li>
</ul>


981 HK/1810 HK: Huawei to launch updated Nova series smartphones (+//)
BEKE US:China's residential property prices show narrowing MoM decline in June (+)
1810 HK/AAPL US: IDC publishes 2Q24 smartphone sales data (+)


[Blue Lotus Daily]:981 HK/1810 HK/BEKE US/AAPL US/688036 CH/QCOM US

TSMC (Taiwan Semiconductor Manufacturing) / Equity Bottom-Up

TSMC (Taiwan Semiconductor Manufacturing)

<ul>
<li>Taiwan Shares Fall With Nvidia... SK Hynix HBM DRAM with Global Unichip? Taiwan's Vietnam Shift Continues... Broadcom Developing an AI Chip with Bytedance</li>
<li>TechChain Insights: Call with Elan Micro; AI PC Significant Uptake 4Q24/1H25; Supply Chain Preparing </li>
<li>UMC (2303.TT; UMC.US): The Outlook for 3Q24 Has Reached a Slightly Upside QoQ. </li>
</ul>


Taiwan Shares Fall With Nvidia... SK Hynix HBM DRAM with Global Unichip? Taiwan's Vietnam Shift Continues... Broadcom Developing an AI Chip with Bytedance
TechChain Insights: Call with Elan Micro; AI PC Significant Uptake 4Q24/1H25; Supply Chain Preparing 
UMC (2303.TT; UMC.US): The Outlook for 3Q24 Has Reached a Slightly Upside QoQ. 


Taiwan Tech Weekly: Declines With Nvidia; Taiwan's Vietnam Shift Continues; UMC's Outlook Improves

United States

QUALCOMM, Inc . manufactures digital wireless communications equipment.  The Company licenses its code division multiple access (CDMA) and orthogonal frequency division multiplexing access intellectual property to other companies, and produces CDMA-based integrated circuits; and produces equipment and software used to track workers and assets; and software for wireless content enablement.

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Qualcomm Inc (QCOM US)

[Blue Lotus Daily]:1519 HK/ZTO US/1810 HK/981 HK/XPEV US/LI US/NIO US/QCOM US/TSMC US

CCP 3rd Plenary Session decision draft analyzed; parcel volume growth for HK/ZTO and Huawei's Nova 13 smartphone delay.

Blue Lotus Research Institute

Taiwan Tech Weekly: Strong TSMC & ASML Data Fails to Rally the Semiconductor Sector

Taiwan stocks dropped last week as potential new US tech restrictions for China loom, despite strong TSMC and ASML results. Apple ramping up...

Vincent Fernando, CFA

MediaTek (2454.TT): 3Q24 Might Grow Slightly QoQ, While AI PCs Could Be Delivered in 2H25.

Mediatek Inc expected to see slight growth in 3Q24, while AI PCs are anticipated to delivered in 2H25. The shipment forecast for the Dimensity...

Patrick Liao

[Blue Lotus Daily]:981 HK/1810 HK/BEKE US/AAPL US/688036 CH/QCOM US

Huawei to launch updated Nova series smartphones, China's residential property prices show narrowing decline, IDC publishes 2Q24 smartphone sales...

Blue Lotus Research Institute

Taiwan Tech Weekly: Declines With Nvidia; Taiwan's Vietnam Shift Continues; UMC's Outlook Improves

New Vietnam investments by Hon Hai and Wistron, Elan preparing for significant AI PC uptake in 4Q24/1H25, UMC's outlook increasingly optimistic for...

Vincent Fernando, CFA

Price Gauge

52-week Range

Market Cap (USDm)

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Dividend (Yield)

[Blue Lotus Daily]:1519 HK/ZTO US/1810 HK/981 HK/XPEV US/LI US/NIO US/QCOM US/TSMC US

​CCP 3rd Plenary Session decision draft analyzed; parcel volume growth for HK/ZTO and Huawei's Nova 13 smartphone delay.

Blue Lotus Research Institute

Taiwan Tech Weekly: Strong TSMC & ASML Data Fails to Rally the Semiconductor Sector

​Taiwan stocks dropped last week as potential new US tech restrictions for China loom, despite strong TSMC and ASML results. Apple ramping up...

Vincent Fernando, CFA

MediaTek (2454.TT): 3Q24 Might Grow Slightly QoQ, While AI PCs Could Be Delivered in 2H25.

​Mediatek Inc expected to see slight growth in 3Q24, while AI PCs are anticipated to delivered in 2H25. The shipment forecast for the Dimensity...

Patrick Liao

[Blue Lotus Daily]:981 HK/1810 HK/BEKE US/AAPL US/688036 CH/QCOM US

​Huawei to launch updated Nova series smartphones, China's residential property prices show narrowing decline, IDC publishes 2Q24 smartphone sales...

Blue Lotus Research Institute

Taiwan Tech Weekly: Declines With Nvidia; Taiwan's Vietnam Shift Continues; UMC's Outlook Improves

New Vietnam investments by Hon Hai and Wistron, Elan preparing for significant AI PC uptake in 4Q24/1H25, UMC's outlook increasingly optimistic for...

Vincent Fernando, CFA

CCP 3rd Plenary Session decision draft analyzed; parcel volume growth for HK/ZTO and Huawei's Nova 13 smartphone delay.

Taiwan stocks dropped last week as potential new US tech restrictions for China loom, despite strong TSMC and ASML results. Apple ramping up...

Mediatek Inc expected to see slight growth in 3Q24, while AI PCs are anticipated to delivered in 2H25. The shipment forecast for the Dimensity...

Huawei to launch updated Nova series smartphones, China's residential property prices show narrowing decline, IDC publishes 2Q24 smartphone sales...