A Note From Baiguan
On April 1, we officially launched Baiguan Pro, our professional-tier subscription designed for investors seeking deeper, more specific coverage of Chinese equities. Baiguan Pro delivers the Baiguan team’s monthly outlook on overall Chinese equity assets, our quarterly focus on themes and sectors, richer company-level analysis, and follow-ups on the ideas and companies previously presented in the newsletter.
If you missed our launch piece, you can read it:
As a reminder, existing paid subscribers can claim a complimentary upgrade to Baiguan Pro (offer ends on June 30, 2026) by simply replying to this email.
In Today’s Data Update
We are updating four sectors that we recently wrote about in the Baiguan newsletter, or mentioned as ideas to watch in Baiguan pro content, with BigOne Lab’s proprietary data as of April 2026:
Sportswear & footwear: Q1 saw a broad-based recovery across athleisure, running, and outdoor, and we will break down the winners and losers. Notably, Lululemon was probed for potential toxic chemicals in its fabric and made Chinese social media headlines, and we will share whether this is an early sign of a sales impact.
Gold jewelry: March marked a sharp reversal for Laopu after a blockbuster Q1, with gold price volatility weighing on price-sensitive buyers. With promotional activity ramping into May, the key question is whether April’s data shows stabilization, further softness, or something else investors should be paying attention to.
Luxury goods: Q1 hinted at a gradual stabilization in Chinese luxury demand, but brand-level dispersion has been the dominant theme. We will share insights about which segments are sustaining momentum into April, and which megabrands are losing ground.
Pop Mart: March already showed cooling in IP heat as the Sanrio collaboration came in below expectations. We will provide updates on April’s new product launches and on secondary market price trends.
At BigOne Lab, we curate data highlights, analyze them, and deliver insights trusted by 100+ top institutional and corporate clients worldwide.
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