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>In early July, Toyota announced a breakthrough in all-solid-state-battery (ASSB) delivering 745 miles per charge and &lt;10-minute charging time. </li>
<li>Currently lithium-ion battery (LIB) can reach 500 miles and 25 minutes; We, however, believe the migration of LIB to ASSB will be a continuous process. </li>
<li>ASSB is expensive to manufacture. Further, mineral reliance on China is unlikely to lessen.</li>
</ul>


In early July, Toyota announced a breakthrough in all-solid-state-battery (ASSB) delivering 745 miles per charge and &lt;10-minute charging time. 
Currently lithium-ion battery (LIB) can reach 500 miles and 25 minutes; We, however, believe the migration of LIB to ASSB will be a continuous process. 
ASSB is expensive to manufacture. Further, mineral reliance on China is unlikely to lessen.


[Blue Lotus EV Sector Update]: All Solid-State Battery Unlikely to Disrupt EV Market

<ul>
<li>Boss Zhipin: SME Development Index rebound slightly in June, and labor subindex also marginally improved, but still far below the prosperity range</li>
<li>XPEV:  Xpeng establishes partnership with Freesbe for Israel market (+)</li>
<li>BABA/PDD/1024.HK: Taobao launched a dedicated entrance to short videos (+/-/-)</li>
</ul>


Boss Zhipin: SME Development Index rebound slightly in June, and labor subindex also marginally improved, but still far below the prosperity range
XPEV:  Xpeng establishes partnership with Freesbe for Israel market (+)
BABA/PDD/1024.HK: Taobao launched a dedicated entrance to short videos (+/-/-)


China TMT Update-BZ/XPEV/BABA/PDD/1024.HK:Taobao's Short Videos/SME Development Index/XPEV in Israel

Macroeconomics

<ul>
<li>Forty to sixty percent of the world’s carbon emission takes place in buildings. Energy efficiency job is the single largest component that balances the job loss</li>
<li>In traditional energy and job gain in renewable energy. China is materially behind the US in energy efficiency; We believe inclusion of energy efficiency in the upcoming stimulus package </li>
<li>Will be a sound choice to boost employment and GDP, and our listed companies in the new energy sector shall benefit from the trend.</li>
</ul>


Forty to sixty percent of the world’s carbon emission takes place in buildings. Energy efficiency job is the single largest component that balances the job loss
In traditional energy and job gain in renewable energy. China is materially behind the US in energy efficiency; We believe inclusion of energy efficiency in the upcoming stimulus package 
Will be a sound choice to boost employment and GDP, and our listed companies in the new energy sector shall benefit from the trend.


[Blue Lotus Macro]: A Job-Creating Stimulus that Also Saves the Real Estate

Covering IPOs, Healthcare and Technology Stocks

Andrei Zakharov

Equity Capital Markets

Robosense Technology / Equity Capital Markets

<ul>
<li>RoboSense Technology, one of the leading providers of LiDAR sensor systems and AI perception software, filed for a Hong Kong IPO with J.P. Morgan and China Renaissance leading the offering.</li>
<li>RoboSense Technology is a high-growth mass producer of LiDAR products with mounting operating losses. The company is growing revenue in double digits and still has heavy losses.  </li>
<li>I believe RoboSense Technology IPO is risky due to the company’s high cash burn rate, fierce competition, pricing pressure and unhealthy fundamentals. Moreover, LiDAR stocks continue to underperform.</li>
</ul>


RoboSense Technology, one of the leading providers of LiDAR sensor systems and AI perception software, filed for a Hong Kong IPO with J.P. Morgan and China Renaissance leading the offering.
RoboSense Technology is a high-growth mass producer of LiDAR products with mounting operating losses. The company is growing revenue in double digits and still has heavy losses.  
I believe RoboSense Technology IPO is risky due to the company’s high cash burn rate, fierce competition, pricing pressure and unhealthy fundamentals. Moreover, LiDAR stocks continue to underperform.


RoboSense Technology: A Risky IPO As LiDAR Stocks Underperformed

<ul>
<li>XPEV/NIO/LI/TSLA/1211HK: 16 major automakers pledge to jointly maintain order in China auto market (+/+/+/+/+)</li>
<li>XPEV: Xpeng G6's conversion rate exceeds 50%, outperforming the industry (+)</li>
<li>ZLAB：ZLAB’s FcRn Efgartigimod received NMPA approval. We expect 2023 revenue US$10mn (-)</li>
</ul>


XPEV/NIO/LI/TSLA/1211HK: 16 major automakers pledge to jointly maintain order in China auto market (+/+/+/+/+)
XPEV: Xpeng G6's conversion rate exceeds 50%, outperforming the industry (+)
ZLAB：ZLAB’s FcRn Efgartigimod received NMPA approval. We expect 2023 revenue US$10mn (-)


China TMT Update-XPEV/NIO/LI/TSLA/1211HK/ZLAB: 16 Automakers Pledge to Maintain Order;G6 Conversion

China

XPeng Inc. designs, produces, and distributes electric vehicles. The Company designs, develops, manufactures and markets smart smart electric vehicles, as well as finance, parts, and maintenance services. XPeng serves customers in China.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

XPeng (XPEV US)

[Blue Lotus EV Sector Update]: All Solid-State Battery Unlikely to Disrupt EV Market

We, however, believe the migration of LIB to ASSB will be a continuous process. ASSB is expensive to manufacture. Further, mineral reliance on...

Blue Lotus Research Institute

China TMT Update-BZ/XPEV/BABA/PDD/1024.HK:Taobao's Short Videos/SME Development Index/XPEV in Israel

Boss Zhipin: SME Development Index rebound slightly in June;XPEV: Xpeng establishes partnership with Freesbe for Israel market (+);BABA/PDD...

Blue Lotus Research Institute

[Blue Lotus Macro]: A Job-Creating Stimulus that Also Saves the Real Estate

We believe inclusion of energy efficiency in the upcoming stimulus package will be a sound choice to boost employment and GDP, listed companies in...

Blue Lotus Research Institute

RoboSense Technology: A Risky IPO As LiDAR Stocks Underperformed

RoboSense Technology IPO looks risky due to the company’s high cash burn rate, fierce competition, pricing pressure and unhealthy fundamentals, in...

Andrei Zakharov

China TMT Update-XPEV/NIO/LI/TSLA/1211HK/ZLAB: 16 Automakers Pledge to Maintain Order;G6 Conversion

XPEV/NIO/LI/TSLA/1211HK: 16 major automakers pledge to jointly maintain order;XPEV: Xpeng G6's conversion rate exceeds 50% (+)ZLAB：ZLAB’s FcRn...

Blue Lotus Research Institute

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)