June 2019 NBS Price Data in Leading Chinese Cities

China’s National Bureau of Statistics (NBS) released its monthly report on home sale prices (LINK).  The prior segregation of “15 Hot Cities” in the NBS report has been removed and suggests that price restraints have diminished in importance as a policy goal.  It is still useful to monitor trends in these major markets. Intense market restrictions … Continue reading June 2019 NBS Price Data in Leading Chinese Cities

Advertisements

Phoenix New Media: Yidian Sale Amendment (revised)

Note: this article was revised 7/25 to incorporate details from the amended sale agreement filed by Phoenix TV( LINK) Phoenix New Media (凤凰新媒体) announced that terms for the $448mm sale of its stake in news aggregator Yidian Zixun (一点资讯) have been amended (LINK).  Key terms: Sales proceeds of $448mm and estimated net proceeds of $409mm … Continue reading Phoenix New Media: Yidian Sale Amendment (revised)

Ossen Innovation: 59% of parent company earnings, but only 4% of parent market cap

Pujiang International, the 66% owner of specialty steel maker Ossen Innovation, listed on the Hong Kong Stock Exchange in May 2019 Ossen Innovation provides 59% of Pujiang's earnings and 56% of its net assets Pujiang has a market cap of US$362mm and is valued at 21 P/E and 1.7 P/B Ossen has a market cap … Continue reading Ossen Innovation: 59% of parent company earnings, but only 4% of parent market cap