stlplaceLast Updated on August 5, 2007 by stlplace
The pictures are hosted at Yupoo (China), please be patient if you are in the US as I am supporting our domestic brand.
Babi bun, the breakfast place just raise the price because of rising pork cost.
Residential Inn, it looks like the Marriot residential inns in the US, I have not stayed there so I will leave others to comment.
Last Updated on August 5, 2007 by stlplace
Some pictures taken on the airplane. The AA289 (from ORD to PVG) flies through Canada, Arctic ocean, Siberia, Mogolia and China.
Queen island in Canada
Wing
Last Updated on August 7, 2007 by stlplace
Shanghai is an expensive city. I’m not talking about the red hot housing market, we all know the housing is getting very expensive here. I was talking about the relative income vs. spending.
Income
Yesterday evening an old friend of mine, who works for a investment research firm, told me a fresh graduate is paid CNY 3,000. This is actully fairly high pay for new college graduate, cosidering financial is a hot area, and the fresh graduate is from Tsinghua/Bei Da (think that as MIT, or Harvard of China), with very good spoken English.
Experienced people are paid more. I learned from anothetr friend who is a HR executive, about 10% of people makes more than CNY 10,000 per month. Note this is also the threshold of income tax.
In the IT arena, I know some senior developer positions at MSFT pays more than 20,000 Yuan per month. I believe other multinational companies should have equivalent pay.
Last Updated on August 8, 2007 by stlplace
I read its earning report this morning (Shanghai is 12 hrs ahead of US EDT). They reported an inline quarter. In the past that could send the stock tank. Not this time, because the stock has been down 27% since Jan 1. The expectation is already very low. With a PE about 33, and revenue growth of 20%, and a superior brand, I believe its future in the long term.
Let me talk things beyond the earnings. In the Cloud 9 (shopping mall and office building, where I work these days) there are 2 Starbucks stores. Around Zhongshan park I’m aware of 4 stores total.
According to “Shanghai Metro” newspaper yesterday, Coca cola is the No. 1 brand in the world, it brand is est. valued at $65 b (I believe its market cap is more than $100 b). Starbucks is not on the top 10, but could it fetch $ 6.5 b? Note SBUX has a market cap of about $20 b lately.
Last Updated on July 31, 2007 by stlplace
Here is the results from PR NewsWire. To summarize:
Net sales from continuing operations for the second quarter 2007 of $30.4 million were up 16.4% over the $26.1 million for the second quarter of 2006.
North American sales of $11.8 million in the second quarter 2007 increased 8.2% from 2006. European sales of $12.8 million in the second quarter 2007 increased 33.1% from the second quarter 2006. Rest-of-world sales of $5.8 million in the second quarter 2007 were up 3.9% from 2006.
I am listening to its conference call, it seems the Q3 and 2007 outlook are good.
On a separate matter, Ninetowns (NINE), the stock I traded a few times, dropped to $3 level as its operation continued to deteriorate, and its CEO and main shareholder (appears) cashing money at the expense of small shareholders. I’m glad I no longer have that. In my mind, management integrity is as important as management competence, if not more.
Last Updated on July 31, 2007 by stlplace
I went to the China Merchants Bank today, to exchange some USD into CNY. The rate is 7.5544. From what I read, the US senate has passed a bill to push China to appreciate the CNY more faster. That certainlly did not help me (get more Chairman Mao for my green backs).
On a positive note, the waiting line at the bank is much shorter, partly because the calm down of the China stock market.
On the other hand, housing market here is going crazy. My co-worker told in one case, people bought up all the units (but 2) of a new building during its opening day. I just could not understand, on the other side of the ocean, the US housing market is ice cold.
Last Updated on July 30, 2007 by stlplace
I read it from the Forbes, Crocs bought Bite Footwear. I checked out Bite’s web site, it looks they make sports sandals, which reminds me of the “Keen” branded outdoor sandals sold in Dick’s Sporting Good. Don’t know if they are comfortable or not, but the Keens are not cheap.
One interesting thing I saw is this running shoes. I don’t know if Nike will come up similar things or not.
Besides selling more Crocs in China (and other international market), Crocs needs the diversification of products to keep growing. It appears to me the “jibbitz” buy already brought some fruits. This “Bite Footwear” buy seems better than OceanMinded buy earlier this year, as “Bite” appeals to a wider crowd.
Last Updated on July 30, 2007 by stlplace
Got back to Shanghai in the weekend; my limit observations in past 2 days suggest those two are hot besides the weather. Don’t run and buy stocks solely based on this.
Crocs: I saw people wearing Crocs near Zhongshan Park, at Hongqiao Parkson Shopping Mall and Jinjiang Chef (restaurant). Today my co-worker told me this thing was selling very well in the mall. I saw a guy wearing red crocs while riding motor cycle; and girl wearing Jibbitz too.
Apple iPod: by now probablly everyone in the US (who can get iPod) already got one (hint: yours truely also got one). But in China this iPod trend is in the early innings. Mac is also sold here. Maybe the iPhone will follow after everyone in the US got one?
Last Updated on July 31, 2007 by stlplace
The local temperature is 29 to 38 Celsius, or 84.2 to 100.4 Farenheit.
Stock market: Shanghai composites is edging up to new high (at 4398.79 as of 10:25 AM July 30 local time).
I will talk about the craziness of “Crocs” in Shanghai later, and Sheng Jian Bao place.
I think I will miss a few things on the other side of the ocean (definitely not work):
Last Updated on July 30, 2007 by stlplace
Here is the results (details from business wire). I will add more after listening to its conference call.
— Second Quarter Revenues Increased 162% to $224.3 Million vs. $85.6 Million Last Year (analyst expected 188.49 to 204.20)
– Company Reports 2Q07 Diluted EPS of $0.58 vs. $0.19 Last Year- (analyst est. 0.40 to 0.48)
— Company Issues 3Q07 Guidance of Revenues between $240 and $250 Million and Diluted EPS of $0.58 to $0.62 –
— Company Raises FY07 Guidance to Revenues of $810 to $820 Million and Diluted EPS of $1.89 to $1.93 –