Tag: ipo

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advice and tips Shanghai Composite

Mixue Bingcheng IPO

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Mixue Bingcheng

RIVAL ARRIVAL World largest fast food chain eyes America after kicking McDonald’s off top spot – menu items start at 15 cents (the-sun.com)

This boba chain you’ve never heard of has more outlets than McDonald’s (CNN Marketplace Asia)

China Bobba Tea, Milk Tea players (most contents are in Chinese, links for each store go to Wikipedia)

蜜雪冰城: 千亿餐饮 IPO，被时代选中的创业者 by 晚点LatePost (their website is not responding, so I just post their YT channel here). 2097.HK

喜茶 : last few years (2023, 2024) I noticed their store in Shanghai Hongqiao Hub (see below), after I listened to this Apple podcast. They (疯投圈) actually did two more episodes on milk tea – one and two. My impression is they are the high end, consider this as Starbucks of Chinese fruit tea. Btw, I know it’s useless but fun fact: do you know which area in Shanghai has the most coffee shops? (Hint, see this pop-up store inside Hongqiao Hub). Once I counted there are 7 well known coffee (brands) shops in the area: Starbucks, Canada’s Tim Horton (Tim’s), Man Coffee (Shanghai high end brand), Luckin coffee, etc.

古茗：晚点对话古茗王云安：得三四线者得天下 also by 晚点LatePost

霸王茶姬: 霸王茶姬（英语：CHAGEE）是一家中国茶饮连锁经营品牌，主打“原叶茶+鲜奶”的“鲜奶茶”饮品。霸王茶姬于2017年6月由张俊杰创立，品牌名称源自京剧经典曲目《霸王别姬》，标识为水墨风格的虞姬形象，主要售卖水果茶、奶茶等现制茶饮饮品。同年11月17日，首家门店在云南昆明五一路开业，其后发展为中国西南地区的知名茶饮品牌。2019年，开始进军海外，先后进入马来西亚、新加坡、泰国等东南亚市场。2021年6月，总部由昆明迁往成都。2021年9月，霸王茶姬对品牌进行升级改造，使用全新英文名称“CHAGEE” ，标识改为白底红色的京剧花旦脸谱，参考奢侈品门店风格设计新门店，并加入中国古建筑中的榫卯结构，全国首家旗舰店在成都春熙路开业[1] 。(Update 2025-12-01 Just noticed they are listed in the USA and Nasdaq now, with ticker symbol CHA). If you looked at the stock price history, it’s a good way to lose money if you bought the stock at the debut.

茶颜悦色: 是中国湖南省长沙市的一个中式古风茶饮品牌，由吕良创立于2013年，经营着多家连锁茶饮店，目前仅在湖南、湖北、江苏、重庆开设分店[1]。茶颜悦色在制作茶饮时强调“中茶西做”，是长沙最受欢迎的本土茶饮店。在形象上，茶颜悦色的商标图、饮料名称、包装、店铺装修等都体现了传统的中国古典风格[2]。

茶百道: 2555.HK. 一年卖超10亿杯，会员超1亿：茶百道，要上市了.

2021年，奈雪的茶率先在港交所上市，成为“新式茶饮第一股” 2150.HK；2024年，茶百道也登陆港交所，成为“加盟制茶饮第一股”；今年2月，古茗完成了港交所挂牌上市 1364.HK。

I would be very careful buying any of their stocks.

Guming – 古茗HKG:136410.94
Mixue Bingcheng – 蜜雪冰城HKG:2097297new IPO
Nayuki – 奈雪的茶HKG:21501.57
ChaPanda – 茶百道HKG:25559.09
4 Listed Chinese Tea Companies in HKSE stock prices as of 03-05-2025

Categories
Business Investing

Amer Sports $AS IPO today

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I don’t have any positions. Note IPO usually stands for “it’s probably overpriced” – this is Warren Buffett’s words, not mine. Last but not least, in the general sports apparel/shoes category, not specialized sports, Nike is the king. And I don’t see any one even Amer Sports‘s parent Anta Sports to shake things up. Adidas tried, and was not successful so far. Btw, Jim Cramer of CNBC also just bashed the stock $AS in this evening (02-01-2024) Mad Money show.

Amer Sports Ring the bell on NYSE today 02-01-2024 for its IPO
CNBC reports Amer Sports IPO
My tweet on Amer Sports IPO $AS
Categories
advice and tips finance

Missed Allgiant Air ALGT

Reading Time: < 1 minuteI was doing some soul searching on investment recently. And I came across this Allgiant ALGT. I traded it on its IPO at $25 12-08-2006. It’s trading at $158 as of today 01-13-2015 (about 8 years later). Why did not hold on this winner while trading the other losing stock named Heelys???

(click on the image to enlarge)

ALGT_ipo_120806

ALGT_price_01_13_2015

Categories
China IPO

Ag Bank of China IPO: bull case, bear case

Reading Time: < 1 minuteBusiness week: Summary Box: China’s AgBank IPO nabs $19.2 billion.

Wiki; Official web site of Ag Bank China’s (ABC, 中国农业银行股份有限公司).


(source: ForeignHR)

Bear case
Ag bank of China primarily serves the less-developed regions and people in China: the rural areas, the villages, the farmers and peasants, the agriculture related business. Since the founding of People’s Republic (and Ag bank shortly after), farm produce price has been kept artificially low by the central government (in a way subsidize other industries), and since 1978 the reform of economy, the situation has improved, but the economy gap between rural and urban has increased in last 30 years.

Bull case

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Categories
Shanghai Composite

Mr. Market turned face

Reading Time: < 1 minuteSome signs of the stock market is cracking:

1) The leaders such as Google (Nasdaq: GOOG), Apple (Nasdaq: AAPL), Berkshire Hathaway (NYSE: BRK.A, BRK.B) are retreating.

2) CIC is thinking about buying equities again, Renaissance Technologies is one option (last time CIC pulled trigger, it bought Blackstone pre-IPO at top).

3) Goldman Sach is selling. It sold a stake in ICBC recently.

4) Last but not least: US CEOs still pessimistic about economy.

Two leaders in this globe

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IPO

Rosetta Stone, learning foreign language

Reading Time: 2 minutesFirst saw Rosetta Stone at the mall couple years ago (the kiosk). More recently saw its Ads on the TV. Today comes a monumental day for the company (bloomberg news, IPOHome, Yahoo Finance), the IPO (as old Warren says IPO stands for its probably overpriced).

Fun and emotion aside, I think this language thing may stick. Before Rosetta Stone, the other public company does language training I know of is New Oriental (NYSE: EDU). New Oriental has harnessed the Chinese market in a very unique way, and it’s now the un-disputed leader in English test training in China. The main reason? Basically without the training from New Oriental, normal Chinese students can not score high in the TOEFL and GRE (notice I said normal, certainly I understand there are some exceptional Chinese students, and I happened to meet a few back in college). At the time I took TOEFL and GRE, New Oriental school has not existed in my city, so I took training from the best alternative: Qianjing college. Anyway, they serve similar purposes.

I have not used Rosetta Stone service yet. Nor do I plan to learn another foreign language (English is hard enough for me). But I know there is huge demand in this area. Chinese (mandarin) and Spanish are two popular ones. As matter of fact, my wife has been teaching madarin to some college students and little kids, and she has been enthusiatically studying Spanish and Cantonese these days. I joked with her why not learn Cantonese while at Hongkong (she studied there for one year).

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IPO

WuXi Pharma WX continues to drop

Reading Time: 2 minutesWuXi Pharma Tech (NYSE:WX) continued to slide, during my absence. One (main) concern is heavy insider selling (source: seekingalpha) lately, after the secondary offering was suspended on May 4.

I double checked the F1 filings for secondary offering (principal and selling shareholders), and found its CEO Dr. Ge Li was going to sell 8 million shares, and he unloaded 200,000 shares on May 30 according to AOL finance. BTW, it is a bit strange I could not find those transactions at SEC web site. Adding insult to the injury, United Overseas Bank (UOB) said it was going to sell 2.1 million shares at $18.4 each, according to Reuters. I guess they must need cash badly (hint: sub-prime trouble). Seriously, from its F1 it appears to me UOB is a venture investor in WuXi, and I am not surprised to see it wants to cash out some (note it intended to sell those shares in the now aborted Secondary). In other words, UOB still sells the shares planned in the Secondary, but the Wuxi management did not.

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IPO

Demystify the sale of CCB shares

Reading Time: 3 minutesCoule day a ago I came across this BoA (NYSE:BAC) bought CCB (China Construction Bank, Hongkong 0939) shares at dirt cheap price story from my Chinese friend StrengthTrader (English news here). After that I read this one original written by 21cbh, titled The Mystery of 70% Off of CCB Shares, here is a faster link from baidu finance. BTW, I always bought and liked 21cbh when I was in Shanghai last year.

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IPO

Got some WX Wuxi Pharma again

Reading Time: < 1 minuteWuxi Pharma logo

I bought some Wuxi Pharma (NYSE:WX) shares today, last year I traded it shortly after its IPO in Aug/Sept.

Recent developments
Q4 and full year 2007 results (MSN Money): total net revenues increased 93.3% to $135.2 million (compared to 2006);

Chemsitry CRO of the year by Pfizer;

Q1 2008 results to be released on May 27;

Wuxi postponed secondary offering today; here is F1 prospectus for secondary offering (I have not found its 2007 annual report).

Background (in Chinese)
中国CRO的现状及所面临的挑战

Categories
Stocks

IPO and secondary offering: I

Reading Time: 3 minutesI have written an article talking about why Chinese companies come to list in NYSE or Nasdaq a while ago. This is a topic warrants more than one article, amid the VISA filing for IPO and recent controversy of Chinese companies (Ping’an and Pu Fa) tried to do secondary in Shanghai. So let me talk about the reasons why companies go to capital market for money.

I remember Ken Fisher talked about the use of debt or stock for companies in terms of raising money, in his book “Only 3 questions that count“. To sum it up, a company will always look for a better way to finance its operation/growth, if the debt (borrow from banks) is available and cheap, they will do it. On the other hand, they will go with issusing stocks. He further explains why maturing companies (with low PE) finds borrowing is cheaper, and growth companies finds issuing stocks is cheaper.

China Ping an insurance IPO pic
(Picture above: CEO of China Ping’an insurance at IPO media event)

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