December NBS Price Data in Chinese Cities With Home Price Restrictions

China's National Bureau of Statistics (NBS) released its monthly report on home sale prices (LINK).  The report provides less coverage and less detail than the private Fang/Soufun 100 city index which has not yet been updated for December.  The NBS report still provides some insight into the impact of housing market restrictions introduced in leading Chinese … Continue reading December NBS Price Data in Chinese Cities With Home Price Restrictions

Colony Northstar Delivered a 50% Return. What’s Next?

Colony Northstar (CLNS) management did an admirable job of bringing their 3-way merger to completion.  Northstar Asset Management (NSAM) shareholders have earned a total return over 50% since I wrote last July that shares had potential for a 60% return (LINK).  What next? CLNS has not updated its future guidance since the initial merger presentation … Continue reading Colony Northstar Delivered a 50% Return. What’s Next?

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

Vehicle sales in China were 9.5% higher in December than one year ago. December passenger vehicle sales were 9.1% higher than one year ago  with fading support from the purchase tax reduction that began in October 2015.  The tax rate on qualifying vehicles will rise from 5% in 2016 to 7.5% in 2017, still below the normal … Continue reading Impact of Recent Vehicle Sales Trends on US Listed Chinese Auto Suppliers (December Update)

Thoughts on the impact on Sohu of a possible Sogou IPO

Bloomberg reports China’s Sogou Targets $5 Billion IPO to Chase Rival Baidu.  Here's a quick look at what an IPO at this valuation would mean for Sohu which currently owns 38% of Sogou. SOHU has three main businesses: Media Portal, including sohu.com focus.cn and 17173.com.  These businesses reported an operating loss of $136mm in 9M16.  Advertising … Continue reading Thoughts on the impact on Sohu of a possible Sogou IPO

McKinsey:What can we expect in China in 2017?

Senior Advisor Gordon Orr comments on these topics: Matching 2016’s economic growth will be a struggle Watch out if steel prices drop New laws create new risks Where has the money gone? Where are the children? Their grandparents are lonely Depressed regions become more so Will commodities be the next hot asset class? The auto … Continue reading McKinsey:What can we expect in China in 2017?

Xinyuan 4Q16 Contract Sales Estimate from CRIC

China Real Estate Information Corporation (CRIC – a subsidiary of E-House) released estimated 4Q16 sales data for the country’s top 200 property developers (LINK).  Xinyuan China is shown at #77 with estimated attributable sales of 19.07Bn RMB for the full year and 5.06Bn RMB for 4Q. CRIC does not have access to any official company … Continue reading Xinyuan 4Q16 Contract Sales Estimate from CRIC