stlplaceLast Updated on July 12, 2007 by stlplace
I bought some NINE (Ninetowns) shares for the 3rd time last Dec. for two reasons:
1) It’s getting into B2B business. A successful example of B2B in China is Ma Yun’s Alibaba, which has done well (at least generated lots of buzz), and is planning to go IPO in Hongkong this year.
2) Duan Yongping, the founder of BuBuGao, the successful investor who won the bid to have lunch with Warren Buffett last year, bought sigificant shares of NINE last year.
Last Updated on July 9, 2007 by stlplace
Bought a little SNCI today. It’s a company makes hearing aids. I read it from Kiplinger’s Personal Finance August Issue in the weekend. Did a little research including reading its annual report. This is my speculative play, I put my bet on it because I think some of the positives include:
1) The company sold its unprofitable unit (Tympany) recently. Meanwhile, it’s trying to expand distribution and retail channel.
2) US baby boomers (people born from 1946 to 1964) are near retiring age. As we know, older people are big customers of hearing aids.
3) There are lots of consolidations in this industry lately.
I don’t take this is a China play, although on my flight from PVG to ORD in the May, I met an engineer who works for an OEM supplier for hearing aids (in Suzhou). It seems hearing aids market is at infancy stage in China.
I also sold the NINE (Ninetowns) today: took my second loss this year, the first is XFML.
Last Updated on July 9, 2007 by stlplace
Today, Fredy Bush, the CEO of Xinhua Finance and Xinhua Finance Media Limited (XFML), released a letter to counter the recent media coverage of “the mystery of Xinhua Finance”. Quote the letter:
— Over the years the media has criticized Xinhua Finance as being too
close to the Xinhua News Agency and the government of China; now they
are criticizing us for not being close enough. The fact is, we have a
20 plus 10 year exclusive agreement signed in 2000 with the China
Economic Information Service of the Xinhua News Agency and that has not
changed. This has been publicly disclosed on numerous occasions.