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, 7/52]: Xi's Meeting with Ma Went Way Beyond Just Reconciliation

Alibaba's C4Q24 Result Says the Inflection Point of Chinese AI Has Arrived for the Capital Markets

[Blue Lotus China New Consumer Weekly, 8/52] Existing Home Recovers First Post CNY

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

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

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

[Blue Lotus China New Consumer Weekly, 4/52] Luckin Coffee's Overseas Expansion Is Worth Waiting For

Blue Lotus Non US Internet research, Blue Lotus Research Institute

Ying Pan

Blue Lotus Non US Internet research

Thematic (Sector/Industry)

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

<ul>
<li>Tencent and NetEase games showed strong during CNY, echoing strong box office showing. Express delivery data suggested robust e-commerce performance;</li>
<li>However, as a big ticket item with no subsidies support, housing market petered out quickly after CNY, which suggests recovery is still fragile;</li>
<li>Meituan's milk tea order volume jumped after introducing social gift functions. Meituan and JD.com are two beneficiaries of social gifting from the GMV angle with Tencent from the advertising angle.</li>
</ul>


Tencent and NetEase games showed strong during CNY, echoing strong box office showing. Express delivery data suggested robust e-commerce performance;
However, as a big ticket item with no subsidies support, housing market petered out quickly after CNY, which suggests recovery is still fragile;
Meituan's milk tea order volume jumped after introducing social gift functions. Meituan and JD.com are two beneficiaries of social gifting from the GMV angle with Tencent from the advertising angle.


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