Millennium Investment Asset Sale Far Above Carrying Value

Millennium Investment and Acquisition Company ("MIAC" trading as OTC:SMCG) has begun realizing proceeds from sale of its minority stake in SMC Global Securities, an Indian brokerage business, at a price significantly above the carrying value in MIAC's most recent financial statements. MIAC History The company came public in 2007 as an India-focused SPAC and purchased 15% of … Continue reading Millennium Investment Asset Sale Far Above Carrying Value

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Impact of Recent Vehicle Sales Trends on US Listed Chinese Auto Suppliers (July Update)

Vehicle sales in China were 23.2% higher in July than one year ago. July Passenger vehicle sales were 26.3% higher than one year ago  with continued support from the purchase tax reduction that began last October.  Year-over-year comparisons should remain strong in the third quarter and then weaken in the fourth quarter.  Commercial Vehicle sales, … Continue reading Impact of Recent Vehicle Sales Trends on US Listed Chinese Auto Suppliers (July Update)

July 2016 Housing Price Data for Xinyuan Real Estate’s Markets

China Index Academy (a research unit of Soufun) released its monthly report of new home prices in 100 top Chinese markets (LINK).  On a national basis average selling prices rose 1.6% for the month and 12.4% from one year ago. Data for Xinyuan’s markets are in the table below: The Central China markets have been … Continue reading July 2016 Housing Price Data for Xinyuan Real Estate’s Markets