Last Updated on April 28, 2007 by stlplace
Symbol Name Price (Apr 26) Earning (2006)
600000 浦发银行 28.28 0.77
600015 华夏银行 13.29 0.35
600016 MingShen 13.27 0.38
600036 CMB 20.04 0.48
Year: 2007
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Last Updated on April 29, 2007 by stlplace
Like Baidu, if you look at 601998 (its ticker symbol) at Sina Finance. For english readers, read Bloomberg news here. BTW, 1998 is a good number in Chinese. Citic Bank (中信银行) IPO was priced at 5.80 Yuan, and people expected it to open between 7 and 8, based on PE and PB (price book) ratio of other Chinese banks. But it went up as high as 12 this morning (Apr 27 Shanghai). This is much higher than the H share traded in HK (0998). Based on 2006 earning of 0.12 Yuan, the PE is about 100.
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Last Updated on April 26, 2007 by stlplace
I read a paper lately and found people in big cities like Shanghai spend a fortune in wedding (about same amount as people in developed countries). Here are some examples: limos and wedding dresses. I took these pictures last month.
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Last Updated on April 27, 2007 by stlplace
(Update Apr 26 morning) Shortly after this report, Wan Jia Wan Hao (Xin Yu Star) stock (600576) gained 5%, the maximum percentage it can go as this is a “ST” stock. What can I say about this crazy market?
Dong Fang Securities, a Chinese brokerage firm, did a report about the new trend of Chinese consumers. Here is a summary. Some of the highlighted industry: medical, budget hotels, media (advertisement), and jewelry.
You can baidu the report if you are interested. The report listed some public companies (in China) may benifit from this trend.
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Last Updated on April 29, 2007 by stlplace
I’m not picking on the China Construction Bank, this is a problem existing in all the banks. I can think of two reasons:
1) People are “managing their money” nowadays, e.g., people are withdrawing money from bank and put into the stock market; people are doing the certificate of deposit…
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Last Updated on April 24, 2007 by stlplace
I bought some Home Inns (HMIN) again yesterday. Not surprisingly the stock dropped after I bought it, as things usually happen that way. But my time frame is from couple months to couple years, so I am not worried. The recent weakness of the stock is expected due to the new offerings and lock up expiration. Also I heard some rumors in China (two key managers left the company to join competitors recently, according to 21st century business herald). At the same time, the competition is heating up among budget hotels, as shown in this article from Pacific Epoch.
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Addict to Plastic
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Last Updated on April 24, 2007 by stlplace
I’m not talking about the credit card use (I’ve talked a bit in my previous posts).
It appears to me Chinese are using more and more plastic bags for packaging: from the morning “Bao Zi” to “Ma La Tang” (Chong Qing hot pot) on the street.
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Shanghai Auto Show
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Last Updated on April 22, 2007 by stlplace
It’s show time. All the major car makers including domestic players such as Chery and Geely (remind me of Heelys), are putting up a big show in Shanghai new international expo center (is that the venue for 2010 World Expo, just be curious) this week.
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Last Updated on April 20, 2007 by stlplace
Occasionally I received spam text messages from unknown people. People want to sell cars, apartments, etc. But yesterday I got a message from Home Inns (Rujia), it promotes the post “Golden week”(May 1 to 7) sales: it will give one night free during May 6 to 10 if I stay in their hotels for 3 nights. I can not stop laughing.
Separately, Home Inns is selling more shares (stocks), it will get $30 m from the proceeds to build more hotels. The competition among economy hotels in China are heating up.
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Is China Imitating US too closely?
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Last Updated on April 20, 2007 by stlplace
That’s how I felt after spending a lot time in China in last 2 years. China is essentially the US in 1950 and 60s. The cars. The urbanization (people move from rural areas to cities). The chain restaurants, hotels, and hair salons. The malls. The new industrial zone such as ZhangJiang and MinHang. The credit cards. The new apartments and houses. The highways. The bullet train. The new banks (foreign and domestic).