Founder, Supreme Peoples Court Monitor

Susan Finder

Founder

Supreme Peoples Court Monitor

Thematic (Sector/Industry)

About a year and a half ago, many of the major business media (<a href="https://www.ft.com/content/f4edabe4-d36e-11e4-a792-00144feab7de" target="_blank">Financial Times</a>, <a href="http://blogs.wsj.com/chinarealtime/2015/12/17/awash-in-duds-chinas-bad-banks-are-looking-good/" target="_blank">Wall Street Journal</a>, and <a href="http://blogs.wsj.com/chinarealtime/2015/12/17/awash-in-duds-chinas-bad-banks-are-looking-good/" target="_blank">Bloomberg</a>) reported on the sale of Chinese distressed assets on Taobao and other Chinese online platforms.  This note provides a quick look at what a search of Taobao turns up.From this <a href="https://zc-paimai.taobao.com/zc/npl.htm?spm=a219w.7976194.237368.4.jgJsfL" target="_blank">page</a> (asset exchange, distressed assets):<figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/021/514/original/Screen%20Shot%202017-02-25%20at%209.00.13%20AM.png?1487984504" class="editor-image img-responsive" data-smartkarma-image-id="21514"></figure>the diligent person can review the type of assets being auctioned: real estate, creditors rights, intellectual property rights, and then further drill down on the…

About a year and a half ago, many of the major business media (Financial Times, Wall Street Journal, and Bloomberg) reported on the sale of Chinese distressed assets on Taobao and other Chinese online platforms.  This note provides a quick look at what a search of Taobao turns up.From this page (asset exchange, distressed assets):the diligent person can review the type of assets being auctioned: real estate, creditors rights, intellectual property rights, and then further drill down on the…

Unbeknownst to the flying public, the Chinese aviation industry is facing labor disputes, particularly from their  pilots, according to a recent Chinese <a href="http://mp.weixin.qq.com/s?__biz=MzA5NTMwMDgzMA==&amp;mid=2655481692&amp;idx=1&amp;sn=4392dc43b94c7826d6e3ee7313c9bfc4&amp;chksm=8bf2b2edbc853bfb9a3212686e55ee20e7036a0c210af5525bbd54ff1de90038b70498cff5f8&amp;mpshare=1&amp;scene=5&amp;srcid=01206ao9dvXq9enFqEyKSwMj#rd" target="_blank">law firm report</a>.  The shortage of pilots in China has been well-reported in the press, in sources ranging from the<a href="https://www.ft.com/content/d7117f1e-d963-11e5-a72f-1e7744c66818" target="_blank"> Financial Times</a> to <a href="http://www.chinadailyasia.com/asiaweekly/2016-04/29/content_15425326.html" target="_blank">China Daily</a>. That has led to job-hopping among Chinese pilots and a large increase in disputes between pilots and the airlines, including at least one foreign pilot hired by a Chinese airline. Pilots are highly…

Unbeknownst to the flying public, the Chinese aviation industry is facing labor disputes, particularly from their  pilots, according to a recent Chinese law firm report.  The shortage of pilots in China has been well-reported in the press, in sources ranging from the Financial Times to China Daily. That has led to job-hopping among Chinese pilots and a large increase in disputes between pilots and the airlines, including at least one foreign pilot hired by a Chinese airline. Pilots are highly…

Illustrating the integration of China's court system with the operation of the Communist Party, the day after the Communist Party Central Committee's Central Economic Work Conference concluded, the Supreme People's Court's (SPC's) Party Committee held a meeting to work out its implications for the courts in 2017.   <a href="http://www.court.gov.cn/zixun-xiangqing-32871.html" target="_blank">According</a> to SPC President Zhou Qiang, the Central Economic Work Conference has the following takeaways for the courts:<h2>First, adhere to strict and impartial justice, and create an</h2>…

Illustrating the integration of China's court system with the operation of the Communist Party, the day after the Communist Party Central Committee's Central Economic Work Conference concluded, the Supreme People's Court's (SPC's) Party Committee held a meeting to work out its implications for the courts in 2017.   According to SPC President Zhou Qiang, the Central Economic Work Conference has the following takeaways for the courts:First, adhere to strict and impartial justice, and create an…

China's Economic Work Conference & Its Courts

Founder, Riedel Research

David Riedel

Independent equity research on GEM Markets

Riedel Research

Riedel provides equity research and analysis to leading financial organizations. By becoming members of a region (Asia, Latin America, Emerging Europe or Global), organizations have access to an integrated set of services including:

Regular company coverage reports
Up-to-date investment decision advice (buy, hold, sell)
Monthly regional and global conference calls
Customized company reports and unlimited on-line access to the program's services.

Riedel provides research coverage of companies across the full range of market capitalization. Experienced research professionals in each market develop company reports and analysis as well as earnings models and projections. Ratings are Buy, Hold and Sell with a focus on compelling investment ideas - both long and short. Downloadable, dynamic earnings models are built to facilitate sensitivity analysis.

Please feel free to contact us for complimentary access to our written research.  We want to show you that our unique research flow can add value and help develop a long-term, high value-add relationship.

Riedel's model focuses on providing clients with unique insights and consulting in addition to unlimited access to all produced research This model allows members to receive exponential benefits for their retainer fees.

Equity Bottom-Up

• Car Inc (699.hk) is a leading provider of short and long-term car rentals and ride-sharing in China.• We are not concerned about the slowdown in the main business of short-term car rentals during the process of IPO’ing the ride-sharing subsidiary UCAR’s.• The daily short-term rental fleet increased 17% YOY in 1H16, but the utilization was still stable. We consider this a good sign that the company will show strong growth once management refocuses on the core business.• Historical valuation indicates a target price of HKD16, which is 100% over the market price. The cash flow model and the 2017 P/E comparison conclude similar target prices. BUY.

• Car Inc (699.hk) is a leading provider of short and long-term car rentals and ride-sharing in China.• We are not concerned about the slowdown in the main business of short-term car rentals during the process of IPO’ing the ride-sharing subsidiary UCAR’s.• The daily short-term rental fleet increased 17% YOY in 1H16, but the utilization was still stable. We consider this a good sign that the company will show strong growth once management refocuses on the core business.• Historical valuation indicates a target price of HKD16, which is 100% over the market price. The cash flow model and the 2017 P/E comparison conclude similar target prices. BUY.

CAR Inc - Car Rental Leader to Refocus on Core Business After IPO of 'Uber-Like' Subsidary - BUY

China Macroeconomics & Academia

Christopher Balding

Macroeconomics

There has been enormous amounts of hand wringing about what a Trump presidency will mean for economic relations with China and the Chinese economy.  Markets around the world dropped significantly when it became apparent that Trump was the likely winner but have recovered most of those losses since.  There remains, however, enormous questions about what a Trump presidency will mean for economic relations with China.It is very difficult to know with any certainty what a Trump presidency will mean…

There has been enormous amounts of hand wringing about what a Trump presidency will mean for economic relations with China and the Chinese economy.  Markets around the world dropped significantly when it became apparent that Trump was the likely winner but have recovered most of those losses since.  There remains, however, enormous questions about what a Trump presidency will mean for economic relations with China.It is very difficult to know with any certainty what a Trump presidency will mean…

How a Trump Presidency Might Be Good for the Chinese Economy

China

CAR Inc generates revenue primarily from car rental business and used car sales. The Company provides short-term and long-term rentals, and financial leasing services.  In addition, Car Inc offers other value-added services including accident coverage packages, GPS navigation systems, 24/7 roadside assistance, etc.

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Car Inc (699 HK)

China Distressed Assets on Taobao

About a year and a half ago, many of the major business media (Financial Times, Wall Street Journal, and Bloomberg) reported on the sale of Chinese...

Susan Finder

Labor Disputes at the Chinese Airlines

Unbeknownst to the flying public, the Chinese aviation industry is facing labor disputes, particularly from their pilots, according to a recent...

Susan Finder

China's Economic Work Conference & Its Courts

Illustrating the integration of China's court system with the operation of the Communist Party, the day after the Communist Party Central...

Susan Finder

CAR Inc - Car Rental Leader to Refocus on Core Business After IPO of 'Uber-Like' Subsidary - BUY

• Car Inc (699.hk) is a leading provider of short and long-term car rentals and ride-sharing in China.• We are not concerned about the slowdown in...

David Riedel

How a Trump Presidency Might Be Good for the Chinese Economy

There has been enormous amounts of hand wringing about what a Trump presidency will mean for economic relations with China and the Chinese...

Christopher Balding

Price Gauge

52-week Range

Market Cap (USDm)

P/E

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