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

[Blue Lotus Non-US Internet Weekly, 4/52]: Deepseek's Asked the Right Question on GAI Capex

[Blue Lotus China New Consumer Weekly, 6/52] Express Delivery Showed Social Gift Took off During CNY

[Blue Lotus Non-US Internet Weekly, 6/52]: Consumption Warmed Up During CNY Except Housing

[Blue Lotus China Growth Equity Weekly (3/52)] Recovery Persist, Focus on Profitablity New

Blue Lotus Non-US Internet Weekly Wrap (2/2025): Tencent's Inclusion and Exclusion from US Sanctions

Blue Lotus China Growth Equity Weekly (2/2025): Tesla Heading into a Different Chinese EV Market

Blue Lotus Non US Internet research, Blue Lotus Research Institute

Ying Pan

Blue Lotus Non US Internet research

Thematic (Sector/Industry)

Malaysia Interactive media and services / Thematic (Sector/Industry)

<ul>
<li>This week, JD.com launched its social gift feature more tightly integrated with Weixin than Alibaba. We believe Tencent's social gift feature will mainly serve as an advertising layer within e-commerce;</li>
<li>Consumption data is so so and heavily reliant on subsidies. More service-subsidies are needed from the government; </li>
<li>Outbound travel likely to cede to domestic during this CNY, benefiting local hotel chains like Atour.</li>
</ul>


This week, JD.com launched its social gift feature more tightly integrated with Weixin than Alibaba. We believe Tencent's social gift feature will mainly serve as an advertising layer within e-commerce;
Consumption data is so so and heavily reliant on subsidies. More service-subsidies are needed from the government; 
Outbound travel likely to cede to domestic during this CNY, benefiting local hotel chains like Atour.


[Blue Lotus Non-US Internet Weekly, 3/52]: RedNote's Popularity Can Lift Other Boats Outside China