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sf123

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  • Perfect World Is About To See Robust Growth [View article]
    Xin,
    What do you think about CYOU and its products? How does PWRD compare to CYOU?
    Jun 27 01:01 AM | Likes Like |Link to Comment
  • The Perfect Time To Invest In Perfect World [View article]
    The share prices of the China game companies, PWRD, CYOU and GA, are super cheap. PWRD is by far the cheapest. My worry is that for whatever reason, there are fewer active pay accounts (fewer serious players) for the MORPGs. It seems that this downward trend has been there for a while. I don't play any kind of online games. May be you can shed some light here.
    Jun 3 12:59 AM | Likes Like |Link to Comment
  • The Perfect Time To Invest In Perfect World [View article]
    Well, the following is from the Q&A section of the Q1 2012 presentation. I don't think Mr. Lau answered the question regarding the increase in loans.

    Operator

    Thank you for your questions. Next question comes from the line of Adam Krejcik from Roth Partners. Please ask your question.

    Adam Krejcik – Roth Capital Partners

    Yeah, hi there. First, on your balance sheet, your short-term bank loan doubled this quarter, so, just wondering why you feel the need to increase your amount of debt when you have a pretty significant amount of cash. And then also, related to that, is your buyback still effective, the RMB100 million buyback, is that still in place? Are you buying any shares? And hence, the Board consider paying an annual dividend as well as a special dividend [that was just had]? Thank you.

    Kelvin Lau

    Thank you, Adam. In policy, the short-term investment representing I think the short-term fixed deposit, we put that cash in the bank. So I think in Q1 we put some of our cash in the safe deposit. So, this is the major reason for the increase in the short-term investment. The short-term investment merely represents for the fixed deposits, number one.

    Number two is regarding the share buyback, we don’t have any share buyback plan approved by the Board, but I think we will see -- I think consider the share buyback program going forward.

    Regarding the dividend, I think I mentioned in the last earnings call that we paid out a special dividend in April 2012 this year. We adopt a dividend policy in that going forward we will have a regular annual dividend paying to our shareholders. However, when to pay and how much to pay is still subject to the Board approval on an annual basis.
    Jun 3 12:49 AM | Likes Like |Link to Comment
  • Why Baidu Could Jump $50 By Next Summer [View article]
    yap, buying at lower price substaintially reduces risk and increases potential profit.
    May 31 08:41 PM | Likes Like |Link to Comment
  • Why Baidu Could Jump $50 By Next Summer [View article]
    I look at the government risks as a barrier to entry for Bidu. Look at what happend to Google in China. Bidu now has a nice moat around its business.
    May 31 08:39 PM | Likes Like |Link to Comment
  • The Perfect Time To Invest In Perfect World [View article]
    I don't know PWRD well. Does it really take out loans to pay dividends?
    May 30 03:48 PM | Likes Like |Link to Comment
  • 4 Hard-Hit Chinese Small Caps With Reasons For Recovery [View article]
    Kevin,
    Do you know the reason that game companies such as GA, PWRD and CYOU are expericing slower revenue growth? And the analysts are projecting no EPS growth for fiscal 2012 also. Is the sector matured in China or kids simply moved on to simple games on iPad?
    May 14 12:47 PM | Likes Like |Link to Comment
  • Banco Santander - Preferreds Are Attractive [View article]
    Why does STD-E has the highest market yield of 10%? Yet the other issues have yield around 8%.
    May 10 07:35 PM | Likes Like |Link to Comment
  • Dell Looks Undervalued With Significant Upside [View article]
    I am not sure the $8/share in cash is significant if you look at account payable and short + long term debts. If you net out everything against cash, short tem investment and receivable, you can see the cash doesn't belong to the shareholders.

    On the other hand, the valuation is really cheap based on FCF/market valuation. Cash return of 20% is quite a bargain.
    Apr 9 08:01 PM | Likes Like |Link to Comment
  • Problems At Potash And Mosaic Holding Back Value [View article]
    what is sMOP?
    Nov 22 09:15 PM | Likes Like |Link to Comment
  • There Is Opportunity In Bombed Out Private Equity Names Like KKR & Co. [View article]
    The borrowing cost has gone up recently. This is from today's WSJ:

    The spread between the yields of junk bonds and U.S. Treasurys has ballooned in recent months as the government bonds rallied even as high-yield debt sank. The spread on the Barclays Capital High Yield Index over Treasurys widened to 7.66 percentage points this week—the highest since November 2009—from 5.87 percentage points at the end of July.

    Moreover, privet equity firms have postponed IPOs of their holdings due to poor market performance.
    Aug 26 12:16 AM | Likes Like |Link to Comment
  • I have found the hogs [View instapost]
    Interesting.
    Johnz, do you think Zongpin may have mixed some supermarket counter locations in the retial store list? Because #170 and #171 look to me are supermarket counters.
    Has Zhongpin ever provided a list of supermarket counters locations? They are suppose to have more than 2000 of these locations.
    Aug 1 04:11 PM | Likes Like |Link to Comment
  • Zhongpin: Where Are the Pigs? [View article]
    I found a couple things pretty strange.
    First, the store list does not give you the exact street address for any of the 1200 stores. The information gives only general locations.

    Second, if you google zhongping frozen pork in Chinese (which is the store name), you will find only limited information. If they have a franchise network, I would imagine the franchisees would want to post more photos and infromation on the web.

    Third, a large part of the inflation in China is related to the pork prices, according to the government. On a slide in Zhongping's presentation, it seems that gross margin has been improving lately. That means they could pass all the inflation to the cunsumers by raisig prices. Why is the pork price in China so inelasitc? And where is the government price control on consumer products?

    I don't have either long or short position on HOGS.
    Jul 20 02:39 PM | Likes Like |Link to Comment
  • SandRidge Mississippian Trust I: A $250 Million Royalty Trust IPO [View article]
    That is just an assumption to estimate annual distributions.
    Apr 27 12:57 AM | Likes Like |Link to Comment
  • Remember Conglomerates? [View article]
    STWD? Are you sure?
    Jan 29 01:01 AM | Likes Like |Link to Comment
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