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E-Commerce China Dangdang Inc. Message Board

  • rchites rchites Oct 13, 2011 5:26 AM Flag

    UPGRADE

    OCTOBER 3, 2011- Ganaxi Small Cap Movers- Buy E-commerce China Dangdang (DANG): DANG is a Chinese online retailer offering books and other media, personal care and general merchandise via Dangdang.com. Often called the Amazon (AMZN) of China, DANG is the number two e-Commerce player in China, behind TaoBao. Its business model is similar to AMZN except that it employs a courier-based delivery system that collects cash on delivery. Its shares suffered the most severe losses at 57.4% last quarter, with most of the losses after it reported a disappointing June quarter on August 16th, missing earnings estimates (6c losses versus 2c loss estimate), while narrowly beating revenue estimates ($122.3 million and $120.6 million) and guiding September revenue higher (RMB 916-928 million versus RMB 895 million).
    We believe that DANG shares are a bargain at Friday’s closing price of $4.94, now down over 85% from the $34.46 peak that the shares hit in the days after the IPO in December 2010. As we explained in a prior article, we believe that the June quarter miss was a part of the growing pains challenge as the company ventures into the general merchandise category and strengthens its fulfillment capabilities. Overall, its shares trade at a steep discount compared to when AMZN was in a similar growth trajectory, and hence we would be buyers here,

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