Ossen Innovation (Nasdaq:OSN) raised $22.5mm from it's 2010 IPO (LINK) at a split adjusted price of $13.50/ADS Ossen reported tangible book value of $13.80 /ADS at 3/31/17 (LINK) and has been consistently profitable since its public listing. Ossen has proposed the sale of its entire business and all assets to its Chairman for proceeds of $0 … Continue reading Public Shareholders Invested $22.5mm in Ossen Innovation’s Steel Business, Now Ossen’s Chairman Offers To Buy It Back For $0.
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 whose release has been suspended. Increased government control over price data seems to be an intangible measure to cool speculation. The NBS report still provides some … Continue reading June NBS Price Data in Leading Chinese Cities With Home Price Restrictions
China Real Estate Information Corporation (CRIC – a subsidiary of E-House) released estimated 1H17 sales data for the country’s top 200 property developers (LINK). Xinyuan China is shown at #79 with estimated sales of 9.24Bn RMB for the half, which means 4.75Bn RMB for 2Q. CRIC does not have access to any official company records … Continue reading Xinyuan 2Q17 Contract Sales Estimate from CRIC