Some random thoughts on Chinese IPOs: Home Inns, New Oriental, Focus Media (Sina).
I stayed at Home Inns Zhongshan Park this time. This is a relatively new Home Inns hotel (it was operated as Shanghai Ningxia Hotel before joining the Home Inns family recently). One block away, I saw another Home Inns hotel: the 7 stars hotel which has been acquired by Home Inns this year.
Happened to see a New Oriental school near the Home Inn hotel. It appears their business is clapping along very nice, especially in current difficult economy.
One of the big news last week when I was in Shanghai, is Sina decided to acquire majority of FMCN’s LCD Ad business. The story of FMCN unbelievable growth is over. Interesting FMCN still kept its AllYes internet business.
Separately, XFML, which has been traded as penny stock lately, continued to experience problem in the market. Read this Chinese news (from 21cbh) if you know Chinese.