Daikin to double India capacity with third air-conditioner plant

Daikin Industries aims to open a third Indian factory for home air conditioners in 2021, investing 10 billion yen ($88.4 million) to double its annual production capacity in the rapidly growing market to 2 million units. [Darkin: Market cap: 32.26B(USD); NI 1.7B; PE: 19; dividend: 1.16%; Rev: 20.66B; Net ratio: 8.23%; E:12.2B; RoE: 14%]

The manufacturer targets sales of 100 billion yen in India for the year through March 2021, double its fiscal 2017 tally.

India’s home air-conditioner market is expected to reach 7.47 million units in 2023, surging by over 70% from 2017 while the global market grows just 20%, according to British research firm Euromonitor International. [still small market compared to China which has 80m units sold locally in 2017]

Daikin, LG and Voltas — part of the Tata Group, India’s biggest conglomerate — each command shares of around 15% to 20% in the country, with the Japanese player claiming the top spot by sales in 2015. Other competitors in India include U.S. company Carrier, as well as Japan’s Panasonic and the Hitachi group.

Jawa reduced imports from Thailand and boosted local production to lower costs, letting Daikin launch ordinary household units priced about 20% below previous models at between 32,000 and 38,000 rupees ($450 to $540). Such units enjoy support from consumers despite costing about 30% more than Voltas’ products and 10% more than those of LG. The South Korean company’s two Indian plants have run at full capacity since last year, and it expects to produce about 1.6 million units in 2018.

Despite the lower prices for Voltas and LG, Daikin Senior Executive Officer Yoshihiro Mineno claims the cost cuts let the company “set prices in a range.” But as the Indian market expands, customers may grow increasingly sensitive to prices.

Richard Branson launches $3m challenge to reinvent the air conditioner

Its power consumption at full load must not exceed 700 W and it mustn’t consume more than 14 L (3.7 gal) of water per day. 
A detailed technical application then needs to be submitted by August, with 10 finalists handed US$200,000 to build working prototypes in November. The final winner will be awarded $1 million in November or December 2020.

Can India Afford to Cool Down?

The world’s fastest-growing market for air conditioners sparks a search for power-saving strategies that could help all developing countries.

Electricity consumption from air conditioning in India is expected to multiply 30 times from 2010 to 2030 if it isn’t made more efficient.

The 900 million residential air conditioners in the world today are expected to rise to between 2.5 billion and 3.7 billion room units by 2050. If little is done to improve efficiency, air conditioning will account for 40% of global growth in energy consumed in buildings by 2050—an amount of energy equivalent to all the electricity used today in the U.S. and Germany combined, according to the IEA.  [50m-87m per year, net increase]

Now EESL is working with companies such as Mahindra Automotive, which has ordered 1,100 of the super-high efficiency air conditioners to replace aging units in its offices. The company expects a 15%-30% energy savings over the next 18 months

It remains to be seen whether EESL can drive down the price of super-efficient air conditioners as far as it did with high-efficiency lighting. Unlike with light bulbs, ACs are considered a luxury item for the rich, one governments are wary of being seen as directly subsidizing. 

雪球投资节演讲

银行螺丝钉:

先锋领般基金,股票比例:(100-年领)%

指数估值水平表,微信公众号

……………

sexypig,涨停板敢死队,万得打板指数

医药,老龄化,医保控费,恒瑞,一致性评价

……………

0~400万,11年,定投

Lagom

……………

梁宏,教育医药,在研估值,房地产去年市场增长头部份额集中,低位加杠杆拿地高位去杠杆。

……………

白酒, 王冠:估价合理,顺鑫低端白酒类似涪陵榨菜、海天味业,顺鑫和茅台确定性高,安琪酵母?侯昊茅台25倍动态

……………

杨天南👍

…………………

医药流通领域,恒瑞有点贵2千亿,医药邦,按研发费排投三十,药房: 黄建平:从人口周期来看,医药行业未来肯定是很大。中国60年代是第一个生育高峰期,每年大概生育2500万人口。80后他们的子女,也是,每年生育大概2500万。到2020年之后。就是要经历的第一个人口高峰的老龄化。而且寿命比较长。但是中国未来最好的医药企业,并不一定是目前上市的企业。有些新兴的企业直接从海外情欧美的科学家进行研究,资本加持,瞄准新的耙点,可能发展潜力非常巨大。所以一次,买30只股票也是有风险,有些公司不思进取。随便找些辅助药玩玩。医保控费。整合到投不上来,留下好的企业。有些美股的医药股还是比较便宜的,市盈率在十倍20倍左右。

https://live.polyv.cn/watch/207092?userId=guest75339752

家用电器

问题:

  1. 还有哪几家厂生产空调?
  2. 为什么电视机不能像空调一样有利润?
  3. 以前的春兰空调是怎么倒闭的?
  4. 空调的海外市场有哪些竞争对手?
  5. 有哪些小家电是有利可图的?
  6. 大金空调的技术优势?
  7. 我家的空调是什么牌子?

品类

  1. 空调。
  2. 冰箱
  3. 洗衣机
  4. 厨电。
  5. 油烟机。
  6. 烘烤炉。

Investment Portfolio Check List

  1. Great Business:60-70%
    1. Understandable
    2. Moat: durable competitive strengths
    3. able and high-grade management
    4. 厚厚的雪: good returns on the net tangible assets required to operate the business
    5. 长长的坡: opportunities for internal growth at attractive returns
    6. at a fair price
  2. Cigar Butt:20%
  3. Momentum,news,high Tech: 10%
  4. Cash Level:
    1. market depression: <0 or 0 [borrow less than 30%]
    2. P/E above average X%: X/2%
    3. No good investments: prepare the washtubs
  5. Sell points
    1. Great businesses: sell 50% when the valuation is 50% (30% for 20%); or move around
    2. Cigar Butt: sell all when its price reaches fair value.
    3. Momentum: depends on conditions; flexible, adjust frequently
  6. Prepare the washtubs
    1. Bonds
    2. Real estate
  7. Circle of competence [能力圈]
    1. 电器[格力,美的,老板,苏泊尔]
    2. 白酒[]
    3. 游戏[]
    4. 保险[?]
    5. 银行[?]
    6. 医药[?]

The Vegetarian Butcher

The Vegetarian Butcher

The firm sells a variety of foods, ranging from minced meat to prawns, through 3,500 sales points in 15 countries (the bulk of them are in Dutch supermarkets) and has annual revenues of €12m ($14.2m). One in five sausage rolls sold in Albert Heijn, the Netherlands’ largest supermarket chain, comes from the veggie butcher. Mr Korteweg says he wants to make factory farming obsolete by “seducing meat-lovers” without inflicting suffering on animals and damage to the environment by feeding livestock.

a tenth of Germans are now vegetarians, up from 0.6% in 1983.

方便面的滑铁卢,看似不相关的商业模式兴替

2011~2013年,中国方便面年销量从424.7亿包增长至462.2亿包。趋势却在2013年之后出现了转折。2013~2016年,中国方便面年销量从462.2亿包跌至385.2亿包,跌幅高达16.66%。

2006~2013年,康师傅方便面板块营收从10.52亿美元增长至43.32亿美元。2013年~2016年,该板块营收又下滑至32.39亿美元。

方便面销量下滑的背后是人们消费结构的转变。“与最初’吃饱’的观念相比较,当前,消费者需要的是健康营养的膳食。”

只有当方便面方便、快捷、廉价等诸多核心优势被另一种商业模式取代时,其市场地位才会遭到显性冲击。

这“另一种商业模式”,就是恰好在2013年前后迅速崛起的外卖行业。

网络订餐规模6年涨8倍

2012年以来,网络订餐市场规模增长迅速,平均增速50%左右。其中,这与国内方便面行业2013年出现的由盛及衰的世纪拐点形成鲜明对照。

2015年以来,在线餐饮市场规模增速有所放缓,但规模已经破千亿,达到1250.3亿元。2016年市场规模为1662.4亿元,仍然较上一年增长达33%。

韩国外卖太贵,难以撼动方便面

世界方便面协会公布的数据显示,2016年,世界人均方便面消费量为13.3份,韩国人均消费量为76.1份,排名第一,而中国人均方便面销量未能进入前三甲。

近5年来,韩国方便面总需求呈现稳步提升的状态。

2012~2016年,韩国方便面总需求从35.2亿包提升至38.3亿包。从需求量来看,除了2014年略有下降以外,其余年份均呈现上升态势。

数据显示,2016年全年,韩国最大的O2O网络订餐平台BDMJ(国民外卖)成交总额为16.1亿美元,占全球外卖行业总成交额的2%。

同年,中国三大主流网络订餐平台成交总额达到173亿美元,占全球总成交额的22.1%。其中,美团外卖平台年度成交额为85.4亿美元;饿了么为62.6亿美元;百度外卖为25亿美元。

11月14日,其旗下的子公司日清食品已向港交所提交了上市申请。

现在港股已有两只“方便面股”,分别是康师傅和统一(00220),股价走得均十分坎坷,连港股牛市也无法助其回归历史高点。

股价往往反映着业绩,康师傅和统一的业绩已连续4年下滑,但日清的营收却稳步增长。据日清公布的上半年业绩数据来看,尽管在内地的收入减少3.6%,但剔除了汇兑损失则为增长1%,看起来虽少,却也好过业绩下滑。

今年前三季度,康师傅总营收为488.95亿,同比上涨5.91%;净利润为19.38亿,同比上涨37.91%。其容器面和高价袋面的销售额分别同比上涨3.98%和11.15%,可见,高端产品是康师傅业绩增长的主要动力。

 

 

重新认识“机会”——《通往》W23

事实上,总是有足够多的“大机会”就那么“活生生地近在眼前”,所谓的“错过”,最终是大多数人对此“视而不见”的结果。

GAFATA投资: 他们是互联网这个新世界的“房地产巨头公司们”

Google Amazon Facebook Apple Tencent Alibaba

视而不见,睁眼瞎,是人的通病。

面对越大的机会,人们的行动力就越差。

最关键的还是践行。

一个人的分析能力,最终决定了他能拥有多少财富。尤其在这种信息碎片化的时代,能否抓住主要信息,看清事件背后的真正逻辑,是一个人能否抓住机会的重要标准之一。

投资知识的把握,最难的地方在于它实在是“很违背直觉”。

[好像有价值的能力都是违背直觉,违背天性的:价值投资、分析、critical thinking、永春拳。想想也应该如此,如果是符合直觉天性的,那就不要刻意学习了,大家自然就会。价值也就不会太大了。]

自锐系统-from Peter

不像刀剑,砂轮不用磨自己就很锋利,而且不管你怎么用都会一样锋利。

考试一完就坐下来把刚才的题再回忆做一遍,不限时间。知道最后大概的得分,而且知道原因,没学好,理解错了,还是就是时间不够;然后和以后发下来的卷子比较,更深入知道其中的问题。这就是一个自锐系统。

还有买房投资也是如此。每笔投资做好记录,以及决定投资的原因和预期目标。以便和以后的实际情况进行对比,回去复查当初的原因是否可靠。 也记录房客的情况,统计,以后在选择管理房客上就会节省很多时间。

(可用于股票外汇交易;记录数据更加容易得到。还要记录原因)

Goldman buys £350m UK property portfolio, net initial yield of 6.1 per cent

the portfolio of 26 office, retail and industrial buildings from the Swedish pension fund Alecta

a net initial yield of 6.1 per cent, and represents an 8 per cent discount from the £380m

UK real estate capital values fell by 3.3 per cent in July but the decline slowed to an 0.5 per cent drop in August and a 0.2 per cent fall in September, according to the property advisers CBRE

Yum spin off Yum China,

Before the spinoff, it sold shares to Chinese investment firm Primavera Capital and an affiliate of Alibaba Group Holding Ltd (BABA.N) who will buy a stake in Yum China for $460 million as Yum prepares to spin off the business. Primavera will invest $410 million, while Ant Financial, which runs Alibaba’s Alipay mobile payments platform, will put in $50 million.

The investors will receive warrants to buy an additional 4 percent stake in Yum China in two tranches at valuations of $12 billion and $15 billion, the company said on Friday.

Yum, still the largest fast-food chain in China, has also been losing ground to McDonald’s Corp (MCD.N).

The spinoff is expected on Oct. 31, with Yum China to begin trading on the New York Stock Exchange a day later, the company said on Friday.

Dell agreed to pay $24.05 in cash for each EMC share

Dell agreed to pay $24.05 in cash for each EMC share, along with 0.111 of the new tracking in VMware. Based on the value of VMware’s ordinary shares, the tracking stock is worth a notional $8.37 for each EMC share. While that puts the full, theoretical value of the offer at $32.42 a share, EMC’s shares closed on Tuesday at $28.99

“Based on VMW intraday stock price of $74.46 and assuming a 30% discount to the tracking stock, we believe the deal value is $29.85, which represents 3.2% premium to EMC intraday stock price of $28.92. Conversely, based on the current share prices of EMC and VMW, the market appears to be valuing the tracking stock at about 40% discount,” wrote Wells Fargo in a research note to investors.

The combined company shares would trade with the symbol DVMT from September 7, noted the firm.

Buy Tracking Stock?

the issued shares of Class V Common Stock will initially have a one-to-one relationship to approximately 65% of the number of shares of VMware common stock currently owned by EMC. Denali currently anticipates issuing approximately 223 million shares of Class V Common Stock.

EMC currently owns approximately 343 million shares of VMware common stock, representing approximately 81% of the outstanding common shares of VMware.  reflect the economic performance of an approximately 53% economic interest in the VMware business.

HK Exchange says 10 firms buy back shares

25.07.2016 12:43PM
HK Exchange says 10 firms buy back shares
HONG KONG, July 25 (Reuters) – The Hong Kong stock exchange
said on Monday 10 companies had repurchased their ordinary
shares in the market.
The following is a table regarding share buybacks:

No. of Highest Lowest

Company name Date of Securities Price Price

(Stock code) Repurchase Repurchased per share per share

CAR INC 2016/07/22 3,000,000 HK$7.8 HK$7.75

CARPENTER TAN 2016/07/22 310,000 HK$3.6 HK$3.48

CHINA WATER 2016/07/22 170,000 HK$4.77 HK$4.74

DINGYI GP INV 2016/07/22 1,500,000 HK$0.75 HK$0.74

FIRST TRACTOR 2016/07/22 166,000 HK$4.06 HK$4.04

SEA HOLDINGS 2016/07/22 296,000 HK$19 N/A

SIHUAN PHARM 2016/07/22 22,186,000 HK$1.91 HK$1.88

TIAN LUN GAS 2016/07/22 5,949,000 HK$5.97 HK$5.88

WANT WANT CHINA 2016/07/22 12,709,000 HK$5.07 HK$5.02

XINGDA INT’L 2016/07/22 549,000 HK$2.12 HK$2.09

For full statement please click:
http://www.hkexnews.hk/reports/sharerepur/documents/SRRPT20160725.xls
(Reporting by Hong Kong Newsroom)

Keywords: HONGKONG BUYBACK/TABLE