Performance of Recent Chinese IPO Stocks
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[This article also appears on SeekingAlpha, Recent Chinese IPOs On Wall Street - EDU Leads The Pack]
In the past year, thirteen Chinese companies located in the mainland China offer their shares to the public and traded their stocks in the US. The following is a table showing their performance as of today.
| Company | Symbol | IPO date | IPO price | Current price |
| New Oriental Education | EDU | 09/06/06 | $15.00 | $49.90 |
| Mindray Medical Intl. | MR | 09/25/06 | $13.50 | $23.79 |
| Home Inns & Hotels | HMIN | 10/25/06 | $13.80 | $32.60 |
| Canadian Solar Inc. | CSIQ | 11/08/06 | $15.00 | $10.16 |
| Fuwei Films | FFHL | 12/18/06 | $8.28 | $9.64 |
| Trina Solar Limited | TSL | 12/18/06 | $18.50 | $55.15 |
| Solarfun Power Holdings | SOLF | 12/20/06 | $12.50 | $14.36 |
| 3SBio Inc. | SSRX | 02/06/07 | $16.00 | $10.03 |
| JA Solar Holdings | JASO | 02/06/07 | $15.00 | $24.70 |
| Xinhua Finance Media Ltd. | XFML | 03/08/07 | $13.00 | $12 |
| Simcere Pharmaceutical | SCR | 04/19/07 | $14.50 | $16.95 |
| Acorn International | ATV | 05/02/07 | $15.50 | $23.53 |
| Qiao Xing Mobile Comm. | QXM | 05/02/07 | $12.00 | $10.6 |
The biggest winner so far is New Oriental Education (EDU) with more than 230% gain. Actually, I am not surprised by how well EDU has been doing since its IPO. EDU’s main business is test preparation. As tens of thousands of Chinese students taking foreign language tests (such as TOEFL and GRE) every year, EDU has enjoyed tremandous growth since it was founded in 1993. I had some personal experience with EDU in the early 1990’s when I was preparing to take TOEFL and GRE. At that time, EDU was more like a evening school renting classrooms from local universities to offer test preparation courses. Every classroom was packed with more than two hundreds students and teachers had to use loud speaker so students in the last row could hear them. The condition was tough, but they built a good reputation among Chinese students who want to pursue further education in countries like US, UK, and Australia, with US being the biggest destination. If you go to any university in US and ask a Chinese student about EDU, chances are he/she not only knows it, but also is a student of EDU.
Because of my one-time success with a Chinese IPO stock (LFC that is), I have kept an eye on all Chinese stocks that chose to listed their shares here in the US. I could have got EDU around $20 on its IPO day on secondary market, but didn’t participate. Currently, the Chinese stocks I own are LFC, XFML and GRRF.
Source: IPOHome
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Quite a boom happening over in China:
here
You think it’s turning into a bubble as some predict?
Wow, I remember last year when Bloomberg TV interviewed with someone from Home Inns and Hotels saying that they are confident that their company is going to grow and they have IPOs. I was hesitate to buy it because I figure it was just a sales pitch.
I regret it now. They are doing very well!
I bought some EDU shares at some point. But I did not hold it like you did with LFC
It’s really amazing to see New Oriental grow its business like that. Besides the test prepartion, it
seems it grow other areas very well.
Savvy Steward: Chinese domestic stock market is crazy, but it doesn’t mean ADR shares will follow suit to go up. However, if it crashes, then we will feel the pain here. Like what happened at the end of February.
Yeah, we definitely missed the chance with EDU. I tend to hold the stock for a little bit longer before dumping it, the same goes with XFML. I probably would hit my head against the wall if I sold my share of LFC in the summer of 2005 after holding the stock for more than a year without going any where. Actually, I feel with Chinese stocks, those in the service sector (banks, financial companies, etc) will do well, but not those technology stocks. Let’s what’s coming up.
BTW, did you buy IBKR? How was it? I didn’t buy the stock because there so many discount brokers out there and I didn’t hear many people using it.