Month: January 2007

Categories
Business China

Mindray MR Secondary Offering

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Last Updated on February 1, 2007 by stlplace

It appears that Mindray started new offering today. I read its SEC filings here. The insiders will sell 9,827,220 shares and the underwriter will have option to buy additional 1,474,083 shares from selling share holders. That alone won’t have dilution effect.

Separately, the company filed S1 form for stock options registration. That will dilute the stocks if option being excercised.

One thing I am not 100% sure is the difference between secondary offering and insider selling after lock up period (usually 180 days after IPO). I think this one belong to “secondary” because it’s not 180 days after its IPO yet (Sept 26, 2006).

(Update 01Feb07) FinanceAsia has more details about this selling.

Categories
Business China

Huiyuan Juice IPO in HKSE

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Last Updated on March 22, 2009 by stlplace

From The Standard:

“China Huiyuan Juice Group, the mainland’s largest fruit juice maker, is forecast to post 222 million yuan (HK$223.08 million) in net profit in 2006, up 106 percent over a year ago. The company recorded 108 million yuan in net profit in 2005, up 486 percent from the previous year.

Huiyuan is seeking to raise US$250 million (HK$1.95 billion) through an initial public offering next month as it seeks capital for expansion.

…Its peers, milk producer China Mengniu Dairy (2319) and Tingyi Holdings (0322), are trading at 33.8 times and 36.7 times 2007 earnings respectively.”

Comments: like everything else in China, the growth is astonishing. Don’t expect to make quick money on this one though. The expectation will be reflected on the price when it debuts…

huiyuan juice

The ticker symbol is 1886.HK.

Categories
Business Stocks

Amazon Endless New Promotion

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Last Updated on January 31, 2007 by stlplace

I saw this when I was doing some research on Amazon (AMZN). They are giving away $5 for overnight shipping. This is very ineresting because normally the online merchants will do free shipping. But Amazon is always innovative.

On serious note, I think Amazon is interesting because people usually think Google is the king of the Internet, while regard Amazon as nothing more than an online retailer. This could change because Amazon has invested heavily on technology (software) in those years. They are providing technology services to other customers (including retailers). Also from my observation, the Amazon Marketplace, where individuals can list items to sell (similar to eBay), is getting momentum. So don’t think Amazon is nothing more than the online “Wal-Mart”…

Categories
Fun

Discount on Crocs

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Last Updated on January 30, 2007 by stlplace

Shoebuy is having a sale on Crocs, the $10 off discount code is WWMAG. They don’t have many left though, so hurry up if you want to get a pair.

I found Crocs shoes are actually gender-neutral, as you can see from the size definition, e.g., size 4 stands for Women 6/Men 4. I think people choose the Crocs based on color. I just found out they run out of the color I want 🙁

Categories
Business China

China Economy Hotel Chains

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Last Updated on February 1, 2007 by stlplace

Counting the economy hotels in China: 

Jinjiang Inn: 139 hotels in 44 cities (including under development) as of June 2006, owned by Jinjiang Group (HK Stock Exchange, 2006.HK), started in 1996 (Shanghai).

Home Inns (Nasdaq, HMIN): 134 (94 leased, 40 franchised, 39 cities) as of Dec 31 2006, founded by Ctrip founders Ji Qi, Neil Shen and James Liang, started in 2002 (Beijing)

Motel168 (Morgan Stanley invested $20 m for 20% stake): as the name suggested, the room started from CNY 168, they also offer CNY 268 rooms; started in 2002 (Shanghai).

Super 8 (US Chain): all franchised

7Days Inn (Warburg Pincus invested $10 m for 20% stake): founded by Ctrip South China manager Zheng Nanyan (do we see pattern here?), started in Guangzhou.

Another useful source: hostelCN  

Categories
Windows

Vista

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Last Updated on May 28, 2009 by stlplace

From Reuters: “After more than five years of development, over 50 million lines of software code, a $6 billion investment and a few headaches,…” 

One thing is for sure, we will not see people lined up in front of Best Buy as they did with Windows 95, Play Station II and III,…Operating system is very much matured market. 

Categories
Fun

TV for the Superbowl

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Last Updated on May 28, 2009 by stlplace

It’s Superbowl time. Time to get the HDTV. Here is Vizio 50″ from Circuit City. Note I am not getting any referring fee from them. I heard Superbowl is the big time for HDTV sales. Some retailors such as Best Buy, Circuit City should be very happy.

Categories
Business Stocks

Home Inns is Getting Expensive

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Last Updated on January 29, 2007 by stlplace

I mean the stocks, not the motel price. It’s being mentioned by IBD (Investors Business Daily) as No. 1 stock this Monday. IBD publishes 100 stocks every Monday based on its own rating system. Because a lot institutional investors trade stocks based on the IBD (whether there is merits or not is another story), the stock went up again today to $47.

A little background about IBD: IBD was founded by a savvy a stockbroker and writer named William J. O’neil. Here is an introduction about William on wikipedia. He also wrote some books such as “How to make money in stocks”. At one time I took very seriously on IBD’s rating system, but not now. I remember once a friend told me he found the “holy grail” of the stocks: IBD and William O’neal’s books. By the way, I told him at the time I liked to buy Google at about 160 (November 2004), he said “No”.

My point is: I like to read books, newspapers and magazines, listen to radio, or watch TV, but I won’t take all these blindly.      

Categories
Stocks

Turbo Tax Online Discount

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Last Updated on February 25, 2007 by stlplace

It’s harder to get Turbo Tax discount these days. I used to get discount code in the email since I have been using it to prepare income tax in year 2001. But not lately. Here is a 15% off deal I found at ADP.

(Update 29Jan07) Sun has an incredibly detailed list of tax software. Here is the link.

Categories
China Stocks

Market Cap of Home Inns HMIN

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Last Updated on January 27, 2007 by stlplace

I made a mistake on the market cap of Home Inns (Rujia, just like home), in my previous post (corrected now). The correct number is stock price * number of shares, or

$44.93 * (32,283,906 / 2 + 5,874,237 )  = $839,479,146
The number of shares 32,283,906 is from its Q3 2006 report. 5,874,237 is the IPO shares on Oct 26, 2006. Note it’s 2006 revenue is about $73 m. So the market cap/sales revenue is about 11.5

Is it high? Yes it’s high among hotel industry. But not high if compared to SINA (also about 10 right now). Note HMIN is growing much faster than SINA these days (70% vs. 30%). I also looked at Baidu’s number, it’s market cap is $4.15 B, and est. 2006 revenue is $106.4 m. The ratio is about 39. BIDU is expected to grow at 68% by WRHambrecht’s James Lee (click on the PDF report). Note growth is only one factor here, we also need to look at the profit margin, etc. if we want to compare apple to apple.

rujia pic