What Wangshi and KFC dont know

Reading Time: 3 minutes We all know the terrible earthquake happened in China, and the Chinese goverment and people are doing the best helping the survivors. There are many many heart touching stories since May 12 when the quake hit. NPR Melissa Block and Robert Siegal (read their Chengdu diary) did a good job from a foreign journalist perspective.… Continue reading What Wangshi and KFC dont know

Wang Shi spoke about housing price

Reading Time: < 1 minute Q&A about housing price in China, by Vanke (000002.SZ) Chairman Wang Shi. He wrote those Q&A in his own blog. I put it together here because it’s a bit hard to read 7 articles separately. I left out couple tables because it’s hard to paste. I’m interested in the Chinese housing for two reasons: 1)… Continue reading Wang Shi spoke about housing price

Vanke: good stock at bubble price?

Reading Time: 2 minutes Stock Price Shares of Vanke (sina, Google Finance) has gained more than 200% YTD, but it is taking a hit lately. A while ago I read these two interesting articles (21cbh, sina) about the valuation of Vanke share. The key question is whether it is over priced, considering its growth potential. Of course no one… Continue reading Vanke: good stock at bubble price?

Shanghai housing market

Reading Time: < 1 minute I read some interesting Chinese posts from soufun today. I just put the links here: thought we may get a better picture of Shanghai housing market by reading them all. Pudong new housing one day tour 浦东看房一日游. Songjiang overview 松江新城高品质公寓 (the author appears to be biased toward Poly since he/she is Poly West Bay 保利西子湾… Continue reading Shanghai housing market

Wang Shi: Vanke not endorsing house flipping

Reading Time: < 1 minute “万科不鼓励炒房”, the original Chinese article is here at 21cbh. <21世纪>:万科怎么看待炒房客? 王石:在高档住宅方面,万科占的比例很小,同时万科也不鼓励炒房。这不是说你要炒房我们就不卖给你房子,但是我们在合同当中是有一些限制,不鼓励炒房。我们有一条规定,买了万科的房子,在房产证交给你之前,你要办过户手续万科是不给办的。当然,办了房产证之后,你要炒那是你自己的事,跟万科没有关系。 <21世纪>:怎么看待外国人到内地炒房?国内房价高企多少应该归因于海外炒家? 王石:现在这种势头还是有的,尤其人民币升值吸引大量热钱往里进。海外购房者不可能成为中国购房的主力军,国内的房价也不可能是外资购房者哄抬起来的,就连香港这么国际化的地方,你能说香港的房价是外来投资者支撑的吗?中环的高档写字楼那些另当别论,光看住宅的话,更多的还是当地购房者购买,因为人口比例在那里摆着呢。 万科的开发是针对主流市场,当然我们开发的高档住房,外来投资者占的比例可能达到20%,但主流市场一定不是他们。举个例子,香港居民到深圳购房的比例都不超过8%。 My take: house flipping has been highly profitable in the past few years. Besides the famous Wenzhou housing flippers, I have heard brokage firm such as E-Housing (NYSE:EJ) has made money from this too. But Vanke is not interested in making… Continue reading Wang Shi: Vanke not endorsing house flipping

CROX not so fantastic quarter

Reading Time: < 1 minute Crocs (Nasdaq:CROX) reported a solid quarter yesterday. It also raised its own year 2007 guidance, but the number is not enough to exceed the street’s “sky high” expectation. The stock already got crushed in the after hour and pre-market trading. It’s likely it will suffer for a while. But I think the fundamental of the… Continue reading CROX not so fantastic quarter

Travel, weather and stocks

Reading Time: 2 minutes Stocks Vanke (00002.SZ) expects a 100% to 150% profit growth in 2007 (vs. 2006). That translated to a 67% to 100% increase of earning per share. Chairman Wang Shi is saying the China real estate industry is still fragmented: Vanke has 1.25% of market share. Longtop Financial (LFT), the new IPO, is under pressure today.… Continue reading Travel, weather and stocks

Introducing Vanke

Reading Time: 2 minutes Vanke is No. 1 home builder in China. Today. Vanke A share (000002) went up 10% in Shenzhen, after it moved sideways for about two months. Note today is the first trading day after China national holiday break. Real estate companies in China don’t get much respect these days. No matter how many new homes… Continue reading Introducing Vanke

Secular growth, Mindray, New Oriental

Reading Time: 3 minutes I was looking for a secular growth stock in China. By secular growth I mean the business grows continously without the normal business cycle. One benifit of secular growth is it usually does not go up or down a lot as economy cycle does. A side benifit of this is we (investors) can sleep better… Continue reading Secular growth, Mindray, New Oriental