China Automotive Systems Buyout Price Should be Raised to at least $7.50

China Automotive Systems, a major supplier of steering gear to the Chinese auto industry, received a buyout offer of $5.45/share from Chairman Hanlin Chen.  (LINK) The offer values the company at 7.8X reported 2016 earnings and just 0.6X 12/31 book value, multiples well below comparable companies trading in Hong Kong and China Increasing technological sophistication … Continue reading China Automotive Systems Buyout Price Should be Raised to at least $7.50

Xinyuan Real Estate: Improving Profitability Not Reflected in Falling Share Price

A year of excellent progress in operating performance and delivery of value to shareholders has not been fairly reflected in Xinyuan's share price which sits near a 52 week low. Improving profitability removes justification for a lower valuation than Hong Kong listed peers whose share prices have risen sharply. Xinyuan's average gross margin on projects … Continue reading Xinyuan Real Estate: Improving Profitability Not Reflected in Falling Share Price

Drive Shack: Business Transformation has low near-term risk and high long-term potential

Drive Shack will have approximately $250mm of unrestricted cash after liquidation of its debt portfolio ($138mm or $2.00/share net of corporate liabilities and preferred shares) The company has an operating golf course business worth approximately $204mm or $2.95/share The company is launching a new chain of golf entertainment venues similar to those of privately held … Continue reading Drive Shack: Business Transformation has low near-term risk and high long-term potential

Jinpan International is Over 75% Cheaper Than Every Comparable China-Listed Company

China-based electrical equipment maker Jinpan International's CEO recently offered to buy all publicly held shares for $4.50, a small premium to their market price, but well below their fair value The company is currently forecasting record sales for 2015 and had a record high order backlog at 6/30/15 despite weak end market conditions Stock valuation … Continue reading Jinpan International is Over 75% Cheaper Than Every Comparable China-Listed Company

MNC Media Investment’s Value Generation Has Been Hidden By Wind-Down Of Legacy Business And Transfer Of Primary Listing

first published on Seeking Alpha MNC Media Investment (MNCMI) is the holding company for the new media investments of the MNC Group, a leading Indonesian conglomerate. MNCMI owns 50.1% of Letang Games, a highly successful mobile gaming company preparing a Shenzhen IPO with a possible valuation over $500mm MNCMI owns 100% of Fumubang, a social … Continue reading MNC Media Investment’s Value Generation Has Been Hidden By Wind-Down Of Legacy Business And Transfer Of Primary Listing