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

China Growth Equity Weekly Wrap (1/2025): Xiaomi, JD, BABA, TRIP, ATAT, CATL, BYD, BEKE, Luckin, BZ

China Internet Weekly Wrap (1/2025): JD, BABA, PDD, SE, CPNG, Meituan, NTES

What Has Happened in the First Ten Days of 2025?

[Xiaomi Inc. (1810 HK, BUY, TP HK$33) Target Price Change]: Good Result, and It Will Only Get Better

Contemporary Amperex Technology - King of the Overweights

Xiaomi's Smartphone Share Gain in Japan Is a Harbinger of Good Things to Come

[Xiaomi Inc. (1810 HK, BUY, TP HK$27) TP Change]: Surprising SU7 Gross Margin a Huge Positive

Blue Lotus China New Economy Research, Blue Lotus Research Institute

Eric Wen

Blue Lotus China New Economy Research

Thematic (Sector/Industry)

China Ground transportation / Thematic (Sector/Industry)

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Macro: China may issue RMB3tn of special treasury bonds in 2025, accounting for 2.2% of GDP, 3rd highest in history;</li>
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EV: BEV sector showed renewed interest with (1) CATL made battery swapping move, (2) Xiaomi gained access to charging network of NIO, XPEV and LI;</li>
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SaaS: After making progress by its own, Beike terminated a major acquisition to save cost. Plus others...</li>
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Macro: China may issue RMB3tn of special treasury bonds in 2025, accounting for 2.2% of GDP, 3rd highest in history;

EV: BEV sector showed renewed interest with (1) CATL made battery swapping move, (2) Xiaomi gained access to charging network of NIO, XPEV and LI;

SaaS: After making progress by its own, Beike terminated a major acquisition to save cost. Plus others...


Contemporary Amperex Technology (CATL) (300750 CH)

China Growth Equity Weekly Wrap (52/2024): Positive Macro, BEV Revival & Good Time to Invest in SaaS