Reading Time: 2 minutes Some random thoughts on Chinese IPOs: Home Inns, New Oriental, Focus Media (Sina). Home Inns 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:
Reading Time: 2 minutes In his annual letter to shareholders, Buffett said the “party is over”. He was referring to the insurance business, which is the cornerstone of Berkshire Hathaway. It appears the party for the economy hotels in China is over too. You can read this Chinese article at Sina if you know Chinese. This is understandable because
Reading Time: 2 minutes Stocks in review week of Dec 16 to Dec 22 1) I bought some MXB shares on Dec 19. After I read its prospectus more carefully, I found two things I don’t like: it will use the proceeds of the IPO ($225 m) and borrow some $425 m to pay the dividend to its parent,
Reading Time: < 1 minute Home Inns (HMIN) is raising fund through convertible bond (up to) $149 m (reuters news). It seems they still need the cash to expand. Longtop got more analyst converge: Deutsche bank and Jefferies initiated with Buy with target price of $30 and $29, respectively. Quoted here: Deutsche Bank initiates coverage on Longtop Financial Technologies (NYSE:
Reading Time: < 1 minute Here is the Q2 results (Xinhua-PRNewswire). Besides revenue and earning, I’m more interested in the following numbers: — During the second quarter of 2007, Home Inns opened 26 new hotels. As of June 30, 2007, the Home Inns hotel chain consisted of 171 hotels in operation with an additional 63 hotels under development, covering 66
Reading Time: < 1 minute MR closed above HMIN the first time since its IPO last Sept. MR closed at 30.89, while HMIN closed at 30.81. This comparison is mostly for fun. But seriously I do think HMIN is increasing under competitive pressure in China. Here is another hotel chain, Hanting Hotels, founded by Ji Qi, the co-founder of Ctrip
Reading Time: < 1 minute Heelys sold 5.1 million pairs of its walk/skate shoes in the US during 2006. Note in the US there are about 36 million kids between age of 6 to 14, Heelys’ core customer. In other words, every one out of 7 kids in the US got a pair of Heelys, which sells from $49.99. The
Reading Time: 2 minutes (Update June 25) Fuwei has a news release regarding this today. (Update June 19) The stock (FFHL) got a big lift (18%) today. Major’s rule No. 2: stock moves when Major mentions it at stlplace, e.g., EDU (mentioned in June 9) and FFHL. Some speculative Chinese stocks got big move too, e.g. EFUT is up 30% today. Seriously I am not saying Fuwei is
Reading Time: < 1 minute Here is a happy Home Inns customer (from Google Finance). On the other hand, here is a not-so-happy Home Inns customer, Kunwei, who (I believe) has stayed in the US and Singapore for an extended period time before returning to China. So how do we make all of these? Not too much. The thing I want to say
Reading Time: 2 minutes HMIN looked cheap these days, should we jump in and buy it? I have both MR and HMIN, and as a matter of fact, I bought some more HMIN after its disappointing earning report. My mistake. You may think because HMIN has been to $49, and now it’s trading $29.50, isn’t a big discount? Yes or
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