Author: stlplace

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Business China

Another New Oriental?

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A few months ago I saw a statement from New Oriental about the “Oriental Standard”. I thought Oriental Standard was some “New Oriental” knockoffs, which also provide English education in China. I was wrong. After a little research, now I believe Mr. Yu Minghong owned the ancester of Oriental Standard (it’s called New Oriental Professional Education Center) before 2006. It’s an IT training and service subsidiary of New Oriental group. In order to prepare the New Oriental IPO in NYSE, that subsidiary was spun off. The Oriental Standard focused more on IT professional service and outsourcing, in addtion to IT training.

Separately, I read Chinese news and it says Oriental Standard raised fund from Doll Capital, the company took 51job to Nasdaq a few years ago. To make things more interesting, it seems Oriental Standard still uses the New Oriental domain name. Oh, well, just like Lenovo still uses the “thinkpad” after they bought the PC/laptop from IBM 🙂

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Fun

Superbowl in Miami

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These days Superbowl is the biggest thing for sports fans and american public in general. I believe this is the show with most TV audience in the States. As you may know, people watch superbowl not just for the football. For lots of non football fans, the creative commercials (advertisement) are the main show here. TV finanlly can reclaim its dominance from “Internet advertising” and Google, for a few hours.

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Business China

Jinjiang Inn Hook up with Expedia

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Zhao Huan Yan published his January report for China domestic hotels industry. I am interested to learn some update on the economy chain such as Jinjiang Inns. I noticed Expedia, the leading US online travel consolidator, is establishing partnership with Jinjiang Inn. It seems foreigners can use expedia to book the Jinjiang Inn soon.

(Update 04Feb07) I looked up expedia, it appears you can book many 2.5 stars (and up) hotels in Shanghai right now, some of them are belong to Jinjiang group (such as the famous Peace Hotel in Nanjing Rd Bund). Have not seen Jinjiang Inn (or Jinjiang Stars yet).

I vaguely remember the foreigners make up about 7 to 8% of guests for Jinjiang and Home Inns (Rujia). This includes the foreigners already in China. In other words, I don’t expect Expedia Jinjiang partnership to give Jinjiang Inn a huge leg up in this “foreigners market”.

jin jiang Inn

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Fun Saint Louis

Asics Running Shoes Sales at Sports Authority

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It’s not on the web. But I found some deals at the local stores (Brentwood). Obviously it’s not just the online stores such as Zappos (or Amazon Endless) gives discount for shoes. 

For instance this one ASICS GEL Kayano® XII Stability Running Shoe is $89.99 at SA. Amazon asks for $99.99 and  Zappos asks for $138.95.  

Categories
China Stocks

Old Ladies in Kansas and Shanghai Housewives

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It seems the “irrational exuberrance” in Chinese domestic stock market finally got a reality check. Here is an excellent article from MarketWatch. Again quoted from the article:

“There was a story on the front page of The Wall Street Journal about a group of little old ladies in the Midwest who soured on their boring portfolio as they watched dot-com investors get rich. The good ladies had traded their utilities for the shares of technology firms.

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Business Stocks

When to Sell Heelys HLYS

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We all know it’s a fad. But here is the one million dollar question: when shall we take profit (or loss) for the Heelys stocks (HLYS)? From the IBD article today, it seems Heelys still got room to grow. The following is quoted from IBD:

“For one thing, there’s still plenty of room to grow sales in parts of the country between the coasts, he says. And overseas sales offer lots of potential, especially in Europe.

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China

Promotions of China Economy Hotels

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I noticed they usually offer some discount during Chinese New Year. Because by tradition majority of people will stay with families (at home). Here are some promotions:

Jinjiang Inn

Home Inns

English reservation pages:

Jinjiang Inn

Motel 168

Surprisingly Rujia doesn’t have English for reservation, although I did see foreigners when I stayed there. I think telephone is more common used (compared to web) for reservation in China.

Categories
Business

Why I Prefer Crocs over Under Armour

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I bought some Crocs stocks (CROX) a while ago; actually I looked at Under Armour (UA) at the same time and I am glad I made the correct decision (so far). Besides the difference of PE ratio, CROX is 42, UA is 76 (supposedly the lower PE means the price is cheaper). I made this decision more based on the business prospects.

From my observation, Crocs are sold in a lot more stores than Under Armour, which are only sold in Sporting Good stores. In other words, Crocs have a wider distribution channel. This is very important for consumer goods. By the same token, I found Crocs have a wider appeal to consumers, especially kids. Under Armour has made efforts to reach women and kids but they are not there yet.

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Categories
Business China

Chatea Got 2nd Round VC Fund

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I wrote about Chatea, a Chinese fast food company a while ago. I have been there in my China trip last year. Apparently they are expanding all these years and they just announced a new round of funding. GGV (together with IDGVC, SIG, Neil Shen, TECO and FMCG) invested $10.68 m for 20% stake. Note Neil Shen (co-founder of Ctrip and Home Inns) is on the list again. As suggested in the article, once the estimated market capital reaches $100 m, they will go for IPO (most likely 2008). So stay tuned.

This is another good play for “emergence of Chinese middle class consumers”.

IMG_3974

(Update 02-11-2023) It looks like all Chatea restaurants are closed now.

Categories
Business China

Mindray MR Secondary Offering

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It appears that Mindray started new offering today. I read its SEC filings here. The insiders will sell 9,827,220 shares and the underwriter will have option to buy additional 1,474,083 shares from selling share holders. That alone won’t have dilution effect.

Separately, the company filed S1 form for stock options registration. That will dilute the stocks if option being excercised.

One thing I am not 100% sure is the difference between secondary offering and insider selling after lock up period (usually 180 days after IPO). I think this one belong to “secondary” because it’s not 180 days after its IPO yet (Sept 26, 2006).

(Update 01Feb07) FinanceAsia has more details about this selling.