ICBC (601398.SS, 1398.HK), Industrial and Commercial Bank of China, announced its 2006 result today, you can read the summary here (Chinese, English). Here is an offical PDF report (in traditional Chinese).
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Author: stlplace
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Diplomat Luggage Case
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My luggage case was broken, after travelling through so many international airports (STL, ORD, PVG, NRT, SPM, PEK,…), rolling on the Shanghai streets, in two and a half years. It lost one wheel. I thought about buying another one, but on second thought, I decided to ask if it can be repaired. I searched the company using baidu and gsuo, surprisingly their office is close to my apartment (it seems my apartment is near a lot of good places). I called them yesterday and send in the case this morning. They told me it’s going to cost 20 Yuan, which is much lower than I expected. Now I am waiting patiently for my old friend’s happy return.
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Private Equity in China
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Private Equity plays a bigger role in Chinese stock market these days. In the US private equity deals more with M&A, merge and acqusitions. In China, because the stock market did so well in last year, a lot private money has been poured into private equity (私募基金). You can feel the temporature of the market by reading this “raising minimum limit” notice. Besides money, many mutual fund managers have jumped the ship for private equity.
Interestingly, I was seriously thinking about start a similar thing (more like Buffett’s partneship, vs. other capital management firms) for a while. I won’t have this CNY 1 m. limit, which I think is no small amount for most people here. If anyone is interested, read “investing together” at the right.
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Hongqiao Shopping Mall
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Went to nearby Hongkong (correct Apr.6: should be Hongqiao) shopping mall on Saturday. I did not realize it’s only one block’s away from my apartment. Here are some photos (to have a larger view, click on the picture). The fountain and front view:
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These days the Chinese bank stocks are flying high. At the same time the competition also intensifies as the foreign bank are formally opening branches next Monday. The domestic players are raising fund through IPO: with the recent IPO of ICBC (601398.SS) and Bank of China (601988.SS); the new IPO of China Citic Bank, the “Haigui IPO” of Bank of Commincations (3328.HK) are on the horizon; some local commercial banks (used to be credit unions) are also preparing IPO, notably Bank of Nanjing, and Bank of Ningbo.
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Got Some GSIT GSI Technology
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I did not got it from the IPO allocation. WR Hambrecht did call me but I was not near the phone. When I called back, they told me they already offered the shares to others. This may be a good thing as the share was priced at 5.50, below the original price range of 6.50 to 8.
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I found Yahoo Finance (China version) is not good enough. For instance, it does not have information for earnings and PE ratio for the stocks, e.g., check out this 600064.SS Nanjing High Tech. I found Sina Finance does a better job. It has these information. You can check out the 600064 here (scroll down, check out 最新简况).
One thing in common is they both offer real time price quote.
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Student Credit Card
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I got my first credit card, a Master card from Citi Bank, back in 1997 when I was a graduate student (and assistant) in Rolla. At that time I had part time job in school. I used the card to pay grocery, books (things I need to buy anyway), and I paid off the balance each month.
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Second Opinion
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These days the health care system, and the hospitals in China are under a lot critism. I believe the system got problem. There are some bad apples among doctors, and other people who are supposed to take care of patients rather than “take advantage of” them. Read this story from Wang Jianshuo if you have the patience. Unfortunately this is not an isolated incident.
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Jinjiang Hotels
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I found two stocks related to Jinjiang Hotels. The Jinjiang Gu Feng (company web site, A Share, B Share); and the Jinjiang Hotels Group (company web site, H Share).