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>AAPL US/1810 HK/981 HK: iPhone 16 sees negative initial reception in China (-/+/+)</li>
<li>981 HK: SenseTime announces 54,000 GPU cluster, likely supplied by Huawei (+)</li>
<li>1810 HK/XPEV US/NIO US/LI US: Tesla officially announced that it will launch FSD in China in the first quarter of 2025.(///////)</li>
</ul>


AAPL US/1810 HK/981 HK: iPhone 16 sees negative initial reception in China (-/+/+)
981 HK: SenseTime announces 54,000 GPU cluster, likely supplied by Huawei (+)
1810 HK/XPEV US/NIO US/LI US: Tesla officially announced that it will launch FSD in China in the first quarter of 2025.(///////)


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

<ul>
<li>1519 HK/ZTO US: Weekly parcel volume grew ~28% y-o-y (+)</li>
<li>ATAT US/TCOM US: Hotel industry showcased strong performance in the last week of August due to eased base effect.(+/+)</li>
<li>Macro Update: The mortgage interest rate for existing loans may be further reduced, releasing at least RMB200 billion of residents' funds annually, bodes well for consumption in China(+)</li>
</ul>


1519 HK/ZTO US: Weekly parcel volume grew ~28% y-o-y (+)
ATAT US/TCOM US: Hotel industry showcased strong performance in the last week of August due to eased base effect.(+/+)
Macro Update: The mortgage interest rate for existing loans may be further reduced, releasing at least RMB200 billion of residents' funds annually, bodes well for consumption in China(+)


[Blue Lotus Daily]:1519 HK/ZTO US/ATAT US/TCOM US/9926 HK/Macro Update

<ul>
<li>1347 HK/ACMR US: Hua Hong Wuxi Fab Phase II begins tool move-in (+/+)</li>
<li>1810 HK/BIDU US/0175 HK: “Xiaomi criticized for selling cars at a loss” goes viral (+/-/-)</li>
<li>2150 HK:Nayuki's First Overseas Flagship Store Opens in Thailand (+)</li>
</ul>


1347 HK/ACMR US: Hua Hong Wuxi Fab Phase II begins tool move-in (+/+)
1810 HK/BIDU US/0175 HK: “Xiaomi criticized for selling cars at a loss” goes viral (+/-/-)
2150 HK:Nayuki's First Overseas Flagship Store Opens in Thailand (+)


[Blue Lotus Daily]:1347HK/ACMR/1810HK/BIDU/175HK/1211HK/NIO/XPEV/TSLA/LI/2150HK/1519HK/ZTO/1810HK

<ul>
<li>LKNCY US: The drink "Tengyun American" coffee package jointly launched by Luckin and "Black Myth: Wukong" game was sold out in its first day （/）</li>
<li>1519 HK/ZTO US: Weekly parcel volume grew ~29% y-o-y (+)</li>
<li>Consumer Industry update:China's Retail Industry Prosperity Index moderate rebound in August, mainly from offline retail recovery. (+)</li>
</ul>


LKNCY US: The drink "Tengyun American" coffee package jointly launched by Luckin and "Black Myth: Wukong" game was sold out in its first day （/）
1519 HK/ZTO US: Weekly parcel volume grew ~29% y-o-y (+)
Consumer Industry update:China's Retail Industry Prosperity Index moderate rebound in August, mainly from offline retail recovery. (+)


[Blue Lotus Daily]:LKNCY US/1519 HK/ZTO US/BZ US/1810 HK/981 HK/AAPL US

Asian Hedge Fund Manager, Long Short Equity, Macro

David Mudd

Cross Asset Strategy

<ul>
<li>Japan equity ETF flows have not recovered from the carry trade sell off.  Hong Kong Southbound Connect flows continue to be positive this month.</li>
<li>
<a href="https://www.smartkarma.com/entities/qifu-technology-inc" target="_blank" data-smartkarma-citation="entities:36657:1" rel="noopener">Qifu Technology (3660 HK)</a> , <a href="https://www.smartkarma.com/entities/q-technology-group-co-ltd" target="_blank" data-smartkarma-citation="entities:79:1" rel="noopener">Q Technology Group (1478 HK)</a> and <a href="https://www.smartkarma.com/entities/jd-logistics-inc" target="_blank" data-smartkarma-citation="entities:31500:1" rel="noopener">JD Logistics (2618 HK)</a> all advanced on strong 2Q earnings announcements. 
</li>
<li>
<a href="https://www.smartkarma.com/entities/tencent-music-entertainment-group" target="_blank" data-smartkarma-citation="entities:36601:1" rel="noopener">Tencent Music Entertainment Group (1698 HK)</a> disappointed on earnings and monthly user numbers.  <a href="https://www.smartkarma.com/entities/country-garden-services-holdin" target="_blank" data-smartkarma-citation="entities:27343:1" rel="noopener">Country Garden Services (6098 HK)</a> declined in anticipation of a large drop in earnings in 2Q 2024.
</li>
</ul>


Japan equity ETF flows have not recovered from the carry trade sell off.  Hong Kong Southbound Connect flows continue to be positive this month.

Qifu Technology (3660 HK) , Q Technology Group (1478 HK) and JD Logistics (2618 HK) all advanced on strong 2Q earnings announcements. 


Tencent Music Entertainment Group (1698 HK) disappointed on earnings and monthly user numbers.  Country Garden Services (6098 HK) declined in anticipation of a large drop in earnings in 2Q 2024.



The Heat Is On: News Flow and Sentiment in CHINA / HONG KONG (August 16)

China

ZTO Express (Cayman) Inc. operates as an express delivery company. The Company provides express delivery service through their nationwide network, as well as other value-added logistics services. ZTO Express serves customers globally.

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ZTO Express Cayman (ZTO US)

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

Negative initial reception for iPhone 16 in China, SenseTime announces large GPU cluster, and Tesla to launch FSD in China by Q1 2025.

Blue Lotus Research Institute

[Blue Lotus Daily]:1519 HK/ZTO US/ATAT US/TCOM US/9926 HK/Macro Update

Weekly parcel volume in HK and the US grew by 28%, the hotel industry in the US showed strong performance, and China may see a boost in...

Blue Lotus Research Institute

[Blue Lotus Daily]:1347HK/ACMR/1810HK/BIDU/175HK/1211HK/NIO/XPEV/TSLA/LI/2150HK/1519HK/ZTO/1810HK

Hua Hong Wuxi Fab Phase II starts tool move-in, Xiaomi faces backlash for selling cars at a loss, Nayuki opens first overseas store in Thailand.

Blue Lotus Research Institute

[Blue Lotus Daily]:LKNCY US/1519 HK/ZTO US/BZ US/1810 HK/981 HK/AAPL US

Luckin and "Black Myth: Wukong" game's coffee collaboration sells out in first day, parcel volume grows 29% y-o-y, China's Retail Industry sees...

Blue Lotus Research Institute

The Heat Is On: News Flow and Sentiment in CHINA / HONG KONG (August 16)

Japan ETF flows have been light after the massive outflow from carry trade unwind. Qifu Tech, Q Tech and JDL all had positive earnings announcement...

David Mudd

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P/E

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

​Negative initial reception for iPhone 16 in China, SenseTime announces large GPU cluster, and Tesla to launch FSD in China by Q1 2025.

Blue Lotus Research Institute

[Blue Lotus Daily]:1519 HK/ZTO US/ATAT US/TCOM US/9926 HK/Macro Update

​Weekly parcel volume in HK and the US grew by 28%, the hotel industry in the US showed strong performance, and China may see a boost in...

Blue Lotus Research Institute

[Blue Lotus Daily]:1347HK/ACMR/1810HK/BIDU/175HK/1211HK/NIO/XPEV/TSLA/LI/2150HK/1519HK/ZTO/1810HK

​Hua Hong Wuxi Fab Phase II starts tool move-in, Xiaomi faces backlash for selling cars at a loss, Nayuki opens first overseas store in Thailand.

Blue Lotus Research Institute

[Blue Lotus Daily]:LKNCY US/1519 HK/ZTO US/BZ US/1810 HK/981 HK/AAPL US

​Luckin and "Black Myth: Wukong" game's coffee collaboration sells out in first day, parcel volume grows 29% y-o-y, China's Retail Industry sees...

Blue Lotus Research Institute

The Heat Is On: News Flow and Sentiment in CHINA / HONG KONG (August 16)

Japan ETF flows have been light after the massive outflow from carry trade unwind. Qifu Tech, Q Tech and JDL all had positive earnings announcement...

David Mudd

Negative initial reception for iPhone 16 in China, SenseTime announces large GPU cluster, and Tesla to launch FSD in China by Q1 2025.

Weekly parcel volume in HK and the US grew by 28%, the hotel industry in the US showed strong performance, and China may see a boost in...

Hua Hong Wuxi Fab Phase II starts tool move-in, Xiaomi faces backlash for selling cars at a loss, Nayuki opens first overseas store in Thailand.

Luckin and "Black Myth: Wukong" game's coffee collaboration sells out in first day, parcel volume grows 29% y-o-y, China's Retail Industry sees...