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Any one still following this--
waiting for buy signals will
remain patient. Bought in 16.61 but got out
17.56 expecting it to fall again--
it did
Man when this one takes off
anybody here?
NEWS!!
China Digital TV Announces Establishment of New Subsidiary to Provide Value-added Services
Monday January 7, 6:00 am ET
BEIJING, Jan. 7 /Xinhua-PRNewswire/ -- China Digital TV Holding Co., Ltd. (NYSE: STV - News), the leading provider of conditional access systems to China's rapidly growing digital television market, today announced that it has established a new wholly owned subsidiary, Beijing Novel-Super Media Investment Co., Ltd., to partner with China's cable operators and content providers to offer value-added services to TV viewers, including Electronic Program Guide-based advertising and PC card-based services which enable PCs to function as HDTVs with DVR features.
ADVERTISEMENT
"I am excited to announce the establishment of this new company," said Mr. Jianhua Zhu, China Digital TV's chief executive officer. "We are looking forward to leveraging our longstanding relationships with cable operators, content providers and other partners in China's digital TV industry to capture multiple growth opportunities in the rapidly growing value-added service area."
Mr. Jianhua Zhu will be the executive director of the new company and Mr. Zhenwen Liang will serve as general manager. Mr. Liang previously served as China Digital TV's department manager of business development from 2006 to 2007 and department manager of finance and accounting from 2004 to 2006.
"We expect that this new venture will allow us to capitalize on our leading position in the CA market to capture the next wave of growth opportunities as digitalization attains nationwide scale in China," commented Mr. Mason Xu, China Digital TV's chief financial officer. Mr. Xu added that the new company has not yet entered into any agreements with cable operators or other potential partners and the management does not expect the new company to begin producing significant revenue until year 2009.
COVERAGE INITIATED: China Digital TV (STV) initiated by Susquehanna Financial. Initial rating Positive.
--------------------------------------------------------------------------------
Briefing.com
07:02 a.m. 12/19/2007
Wish I knew what the spike was about but I am not complaining...
Nice to see it continue today.
Another decent day brewing !!
STV +1.28 +3.71% 372,070 35.78 CHINA DIG TV HDG ADS
< delayed quote >
Just posted the same on another board....got ourselves
a VERY NICE day unfolding !!!
GLTY !!
Certainly good movement today. Wonder if news is around the corner.
Morgan Stanley: China digital TV to grow by 300% in 3 years
http://www.chinaknowledge.com/news/news-detail.aspx?id=11956
Dec. 5, 2007 (China Knowledge) – Morgan Stanley's executive director Ji Weidong said on December 2, that China's new media industry will grow rapidly, and could expect a world-class company in the near future.
He expected that the number of digital TV subscribers will triple the current number in the next three years. In addition, it is very likely that China's digital cable subscribers will exceed the number of the Internet subscribers.
Though China is still in the transitional period between the old and new media system, Ji believed that China's digital TV will emerge as the world's leader. There were almost 140 million CCTV users in the country, accounting for one-third of the CCTV users worldwide. However, the current income was only 2% of America's, which means there is still considerable room for expansion.
Rapid expansion of digital TV market to benefit China Digital TV
Tuesday, December 04, 2007; Posted: 04:17 AM
BEIJING, Dec 4, 2007 (Xinhua via COMTEX) -- The coming three years will see the subscribers of digital TV users in China skyrocket at annual speed of 300 percent and finally surpass that of Internet, as predicted by Richard Ji, executive director of Morgan Stanley.
In the opinion of Ji, new medias such as digital TV could tide over geographical and time barriers and are likely to lead the country's consumer market.
Market analysts hold that such high growth will benefit China Digital TV Holding Co., Ltd. (STV.NYSE), China's leading provider of conditional access systems (CA) to digital television.
The company had installed CA systems at 130 digital television network operators in 26 Chinese provinces, autonomous regions and municipalities by the end of June.
Needham Starts China Digital TV (STV) at Buy
11-26-2007 02:08:27 PM
http://www.streetinsider.com/New+Coverage/Needham+Starts+China+Digital+TV+(STV)+at+Buy/3150115.html
So far, good start to the week. Unfortunately, this has a long way to go for me to make any money off it. Still holding.
great call!
STV +2.19 +8.55% 208,224 27.79 CHINA DIG TV HDG ADS
CHINA DIG TV HDG ADS (NYSE:STV)
Pre-Market: 26.01 +0.41 +1.60% as of 8:54AM ET on 11/26/07
Thx!!....I'm not only keeping an eye on it.....got
half of the grandkids ESTATE on it!!!
I have received several e-mail this weekend saying that STV could do well this week. You may want to keep an eye on this one.
perspective............
World Markets
Asia's Stocks Sell Off
By Daniel M. Harrison
Special to TheStreet.com
11/16/2007 9:25 AM EST
URL: http://www.thestreet.com/markets/worldmarkets/10390534.html
For the second week running, Asian markets lost their midweek luster on Friday as the region's indices ended sharply down on concerns about a strong yen and a weak U.S. economy.
The Hang Seng was the biggest decliner, tumbling 1,137 points, or 3.95%, to 27,614.
Elsewhere, markets traded within a volatile but downward band. In China, the Shanghai Composite Index lost 49 points, or 0.91%, to 5316, while Tokyo's Nikkei slipped 241 points, or 1.57%, to 15,154. The South Korean Kospi finished 21 points lower, down 1%, at 1926.
"This kind of volatility will remain especially in the Shanghai market. We haven't seen the worst of financial problems yet," says Serdar Kucukakin, emerging Asia economist for ABN Amro.
In Hong Kong, property stocks, which have previously been the most resilient to recent selloffs, lost the most in a single trading session this month. Cheung Kong Holdings (CHEUY) dived 4.77% to HK$137.70, while Sun Hung Kai Properties (SUHJY) and Hutchison Whampoa (HUWHY) lost 3% to HK$11.64 and 4.25% to HK$88.15, respectively.
Among telecom names, China Mobile (CHL) fell 4.6% to HK$133.20, while China Unicom (CHU) slipped slightly, by 0.78% to HK$15.26, and China Netcom (CN) sank 2.4% to HK$20.05.
In oil and gas stocks, PetroChina (PTR) fell 4.5%, to 14.60, and in China, Sinopec Shanghai Petrochemical (SHI) lost 0.81%, to 9.81 yuan.
On the mainland, a state news program caused a furor in the currency markets, advising retail speculators to "sell the dollar," and telling viewers specifically that "selling dollar for yuan as soon as possible may be a safe approach," according to local journalists.
The yuan was strengthening to 7.4235 from 7.427 vs. the dollar in Asian trading. In Japan, the yen was trading up at 110.54 vs. the dollar.
As a result of the strong yen, Japanese exporters lost broadly. Sony (SNE) fell 1.1% to 5,350 yen, while Canon (CAJ) shed 1.25% to 5,500 yen, and Nintendo (NTDOY) plummeted 4.7% to 61,000 yen.
Despite the strengthening yen, which decreases margin on sales, many bargain hunters in Asia are now looking at Nintendo as a buy. The stock has declined from a year's high of 73,200 yen in recent weeks, and Nintendo bulls expect an increase in production of the Wii in December, for Christmas and the New Year.
U.S. video game sales totaled $1.1 billion in October, compared with $643 million a year earlier, with the Wii the top-selling console, according to CNBC. The business news station reported Nintendo as "scrambling to produce enough units to meet demand."
In Korea, steelmaker Posco (PKX) lost 1.36%, while Kookmin Bank (KB) fared better, down just 0.56%. For the Korean bank, that's still 22% off this year's high, reached in June, and southeast Asian money managers -- in particular those in Singapore -- now see the stock as a buy, since it is insulated from subprime exposure.
ABN Amro's Kucukakin says that while there will be an uptrend in Asian markets going into the end of the year, investors should be wary of volatility as external factors like a weak dollar, a high oil prices and subprime exposure continue to destabilize the bull run in equities.
"I maintain the view that it will bumpy. We had this discussion in March, we have had it in May, and we have it now -- there will be corrections over and over again," says Kucukakin.
--------------------------------------------------------------------------------
Daniel M. Harrison is a business journalist specialising in European and emerging markets, in particular Asia. He has an MBA from BI, Norway and a blog at www.theglobalperspective.biz. He lives in New York.
--------------------------------------------------------------------------------
all but -7- on that listing are RED ----- some big time RED !!
complete agreement ~~~ here is my China WatchList (sorry the plus/minus is not reflected ie. Yahoo! color coded)....but,
suffice to say....a LOT OF RED coming out of China/S.E. Asia today...and, I'm not 'exactly' sure why!?!?!?!?
Symbol Change Volume Trade Name Bid Ask Yield
- - - - - ^GSPC 1.24 0.09% 0 1,452.39 S&P 500 INDEX,RTH N/A N/A -
- - - - - ^HSI 1,136.78 3.95% 0 27,614.43 HANG SENG INDEX N/A N/A -
- - - - - ^N225 241.69 1.57% 0 15,154.61 NIKKEI 225 N/A N/A -
- - - - - ASIA 0.30 2.83% 142,286 10.29 ASIAINFO HLDGS INC 10.27 10.30 N/A
- - - - - ATV 0.25 1.73% 28,400 14.21 ACORN INTERNATIONAL, - - N/A
- - - - - BIDU 14.20 4.33% 3,784,688 313.50 BAIDU.COM, INC. 313.18 313.72 N/A
- - - - - CBAK 0.11 2.64% 197,691 4.05 CHINA BAK BATTERY 4.05 4.06 N/A
- - - - - CFSG 1.26 8.15% 42,554 14.20 CHINA FIRE & SEC GRP 14.20 14.33 N/A
- - - - - CHINA 0.09 1.51% 500,686 5.89 CDC CORPORATION CL-A 5.88 5.89 N/A
- - - - - CHL 3.12 3.55% 1,266,018 84.67 CHINA MOBILE LIMITED - - 1.20%
- - - - - CHMD.OB 0.0000 0.00% 20,000 0.0270 CHINA MEDIA GROUP CP 0.0260 0.0270 -
- - - - - CHU 0.01 0.05% 391,300 19.17 CHINA UNICOM LTD - - 1.20%
- - - - - CNOA.OB 0.05 2.33% 27,830 2.10 CHINA ORGANIC AGRICU 2.10 2.18 -
- - - - - CPHI.OB 0.08 2.82% 11,888 2.76 CHINA PHARMA HLDGS 2.75 2.80 -
- - - - - CPSL 0.10 1.91% 207,370 5.14 CHINA PREC. STEEL 5.14 5.15 N/A
- - - - - CTRP 2.06 3.41% 292,212 58.33 CTRIP.COM INTL LTD 58.16 58.33 0.20%
- - - - - EDU 1.56 2.15% 65,400 70.84 NEW ORIENTAL EDUCATI - - N/A
- - - - - EFUT 0.33 2.03% 60,334 16.59 E-FUTURE INFORMATION 16.50 16.59 N/A
- - - - - EJ 2.68 9.35% 1,013,692 25.97 E-HOUSE HOLDINGS ADR - - N/A
- - - - - ETLK.OB 0.00 0.00% 13,000 0.07 ELEPHANT TALK COMM 0.07 0.08 N/A
- - - - - FFHL 0.07 2.66% 67,710 2.70 FUWEI FILMS (HOLDING 2.68 2.70 N/A
- - - - - FMCN 1.96 3.61% 930,731 56.24 FOCUS MEDIA HOLDING 56.20 56.23 N/A
- - - - - GMKT 0.13 0.62% 43,236 21.18 GMARKET 21.10 21.17 N/A
- - - - - GSH 1.05 2.99% 20,400 34.11 GUANGSHEN RAIL CO LT - - 1.40%
- - - - - HNP 1.15 2.88% 95,400 38.82 HUANENG POWER INTL - - 6.50%
- - - - - HRCT.OB 0.0080 17.78% 75,000 0.0370 HARTCOURT COS INC 0.0360 0.0400 -
- - - - - KONG 0.01 0.21% 182,603 4.86 KONGZHONG CORP 4.85 4.86 N/A
- - - - - LFC 1.86 2.20% 515,193 82.75 CHINA LIFE INS CO - - 0.30%
- - - - - LFT 1.83 7.95% 64,958 21.18 LONGTOP FINL TEC ADS - - N/A
- - - - - MPEL 0.28 1.90% 956,752 14.47 MELCO PBL ENTRMT ADS 14.47 14.48 N/A
- - - - - NED 0.29 2.36% 86,900 12.02 NOAH EDUCATION ADS - - N/A
- - - - - NTES 0.18 0.95% 112,771 18.80 NETEASE.COM ADS 18.80 18.82 N/A
- - - - - PTR 5.15 2.67% 334,924 187.57 PETROCHINA CO ADS - - 2.80%
- - - - - SINA 0.94 2.01% 718,410 45.87 SINA CORPORATION 45.82 45.87 N/A
- - - - - SNDA 0.61 1.67% 259,311 35.93 SHANDA INTERACTIVE 35.92 35.95 N/A
- - - - - SNP 4.23 3.01% 178,246 136.07 CHINA PETRO & CHEM - - 1.50%
- - - - - SOHU 0.38 0.76% 314,260 49.45 SOHU.COM INC 49.35 49.45 N/A
- - - - - SOLF 0.04 0.32% 108,204 12.39 SOLARFUN POWER HOLDI 12.36 12.42 N/A
- - - - - SRRY.OB 0.02 4.76% 12,000 0.40 SANCON RESOURCE RCVY 0.38 0.40 -
- - - - - TSL 0.27 0.52% 337,300 51.84 TRINA SOLAR LTD ADR - - N/A
- - - - - UTSI 0.09 2.85% 302,113 2.98 UTSTARCOM INC 2.98 2.99 N/A
- - - - - XFML 0.41 5.76% 422,249 6.71 XINHUA FINANCE MEDIA 6.71 6.73 N/A
Piper Jaffray initiates coverage as a buy with a price target of $43.
Earnings report beat estimates by $.05
Guidance was held "in line"
Pretty abusive on the price with this initial coverage.
What gives?
I plan to hang onto my shares....but, I hate
these little "curves" in the road!!
GLTY!!
Me neither.
certainly NOT what I expected!
STV -6.07 -15.73% 1,013,575 32.52 CHINA DIG TV HDG ADS
Fri 8:35am STV Coverage initiated on China Digital TV by Piper Jaffray - Briefing.com
MidnightTrader's Pre-Market News Movers
--------------------------------------------------------------------------------
Midnight Trader
08:19 a.m. 11/16/2007
Boston, Nov 16, 2007 (MidnightTrader via COMTEX) -- Some of the stocks moving on news-driven events in today's pre-market include:
SBUX, -10.3%
GRMN, +16.7%
CSIQ, +14.5%
CSCO, +2%
DSCO, +22.5%
AMD, +3.9%
WR, +0.5%
ANX, +15.3%
DRYS, +3.5%
STV, -7%
EJ, +5.8%
BRCM, +1.6%
BEAS, +1.8%
HPQ, +1.7%
QXM, +2.5%
GME, -1.6%
MSCC, -6.4%
ACTG, -24.2%
Copyright (C) 2007 MidnightTrader.com. All rights reserved. Unauthorized reproduction is strictly prohibited.
complete agreement w/ ya'
EZ
After hour trading can sometimes be confusing. Sometimes it is catch up trading from earlier in the day and it looks like it is new pricing after hours. In this case the trading is several hours after the close so it is likely NOT catch up trades. It is still rather light in volume but it still could be classic "buy on rumor" "sell on news".
I think we are still a few days away from the quiet period ending which will allow more analyst discussion of these new numbers so I think we may have a pause and then another run north. Just MHO.
I agree ---- and, I'll have to look to see what expectations were.....I do not recall either. However......this does not look good:
Time & Sales
Price Size Exch Time
t 34.70 100 NLS 17:45:57
t 34.70 100 NLS 17:45:37
t 34.51 100 NLS 17:45:35
t 34.53 200 NLS 17:45:35
t 34.52 200 NLS 17:45:27
34.51 200 PAC 17:45:22
34.51 100 PAC 17:45:22
34.51 600 PAC 17:45:14
34.51 100 PAC 17:45:14
34.50 100 PAC 17:45:00
34.60 100 NLS 17:44:53
34.70 200 NLS 17:44:49
34.75 200 PAC 17:44:48
34.75 100 PAC 17:44:48
34.75 100 NLS 17:44:48
34.83 500 PAC 17:44:35
34.90 100 NLS 17:44:29
34.99 100 NLS 17:44:27
34.99 100 NLS 17:44:27
34.99 100 NLS 17:44:27
t 34.99 200 NLS 17:44:26
t 34.99 100 NLS 17:44:26
t 35.00 100 NLS 17:44:25
t 35.00 100 NLS 17:44:25
t 35.00 200 NLS 17:44:25
t 35.00 100 NLS 17:44:25
35.00 300 NLS 17:44:25
34.99 100 PAC 17:44:23
35.00 100 NLS 17:43:45
34.88 200 PAC 17:43:32
Looks good to me. I don't recall expectations though:
China Digital TV Reports Third Quarter 2007 Financial Results
BEIJING, Nov. 15 /Xinhua-PRNewswire-FirstCall/ -- China Digital TV Holding Co., Ltd. (NYSE: STV) ('China Digital TV'), the leading provider of conditional access ('CA') systems to China's rapidly growing digital television market, announced today its unaudited financial results for the three months ended September 30, 2007.
Highlights for Third Quarter 2007
-- Total revenue for the quarter was US$14.4 million, a 37.3% increase
from the third quarter of 2006 and a 28.9% increase from the second
quarter of 2007.
-- Net income for the quarter was US$8.8 million, a 53.0% increase from
the third quarter of 2006 and a 46.9% increase from the second quarter
of 2007.
-- Basic earnings per ADS (1 ADS represents 1 ordinary share) were US$0.20,
compared to US$0.10 in the third quarter of 2006, and US$0.14 in the
second quarter of 2007.
-- China Digital TV shipped 1.9 million smart cards during the quarter.
-- In the third quarter, China Digital TV entered into 18 new contracts to
install CA systems, including contracts with provincial-level cable
operators in Heilongjiang and Fujian, the municipal cable operator in
Heze, Shandong province, and several cable operators in the city of
Ningbo.
'We are pleased with our results for the third quarter of 2007,' said China Digital TV Chief Executive Officer Jianhua Zhu. 'This quarter's strong performance reflects China Digital TV's leading market position in China's fast-developing digital television industry. With our established brand name, adaptable product solutions, consistently high-quality customer service and extensive industry partnerships, we are confident that we will maintain our leading market position and grow along with this dynamic industry.'
Mason Xu, China Digital TV's Chief Financial Officer, added, 'Our successful IPO last month on the New York Stock Exchange demonstrates the confidence of investors in China Digital TV's business model as well as in the tremendous potential of China's digital television industry. In the coming quarters, we hope to leverage our deep understanding of the local market, leading industry position and long-term commitment to R&D to capitalize further on this exciting growth.'
Third Quarter 2007 Financial Results
(Note: Unless otherwise stated, all financial statement amounts used in this press release are based on US GAAP.)
For the third quarter of 2007, China Digital TV reported total revenues of US$14.4 million, a 37.3% increase from US$10.5 million in the same period of 2006, and a 28.9% increase from US$11.2 million in the second quarter of 2007. During the quarter, China Digital TV entered into 18 new contracts to install CA systems.
Revenues from smart cards and related products were US$12.8 million, a 40.1% increase from the same period of 2006 and a 26.6% increase from the second quarter. Smart card and related products sales were 88.7% of the total revenues for the quarter. China Digital TV shipped 1.9 million cards in the third quarter, 2007, a 32.9% increase over the number of cards shipped in the same period of 2006 and a 23.6% increase over the second quarter of 2007.
Revenues from services were US$1.6 million, a 19.0% increase over the same period in 2006 and a 49.6% increase over the second quarter, 2007. Service revenue was 11.3% of the total revenues for the quarter.
Gross profit for the quarter was US$12.0 million, a 45.1% increase from US$8.3 million in the same period of 2006 and a 34.0% increase over US$8.9 million in the second quarter of 2007. Gross margin was 83.4% for the third quarter, compared to 79.4% in the same period in 2006 and 80.3% in the second quarter of 2007. The year-over-year and quarter-over-quarter increases were primarily due to increased gross margin for system integration services for this quarter.
Operating expenses for the third quarter were US$2.6 million, a 123.0% increase from US$1.2 million in the same period of 2006 and an 11.6% increase from US$2.4 million in the second quarter of 2007.
-- Research and development expenses for the quarter increased 136.4% to
US$1.2 million from US$0.5 million in the same period of 2006 and
increased 14.2% from US$1.1 million in the second quarter of 2007. The
increases were primarily due to higher average R&D headcount for the
quarter, which grew 61.9% from the same period of 2006 and 18.0% from
the second quarter of 2007.
-- Sales and marketing expenses for the quarter increased 58.5% to US$0.8
million from US$0.5 million in the same period of 2006 and 36.1% from
US$0.6 million in the second quarter of 2007. The year-over-year and
quarter-over-quarter increases were primarily due to costs associated
with ongoing marketing and brand promotion activities.
-- General and administrative expenses for the quarter increased 308.9% to
US$0.6 million from US$0.1 million for the same period of 2006 and
decreased 13.7% from US$0.7 million in the second quarter of 2007. The
year-over-year increase was primarily due to an increase in personnel
costs and share-based compensation expenses. The quarter-over-quarter
decrease was primarily due to zero provision for doubtful receivables
in this quarter.
Operating margin for the quarter was 64.9%, compared to 68.0% for the same period of last year and 58.9% for the second quarter of 2007.
Net income for the quarter was US$8.8 million, a 53.0% increase from US$5.7 million in the same period of 2006 and a 46.9% increase from US$6.0 million in the second quarter of 2007. Basic and diluted earnings per ADS for the quarter amounted to US$0.20 and US$0.19, respectively.
Non-GAAP net income for the quarter was US$9.2 million, a 57.3% increase from US$5.9 million in the same period of 2006 and a 41.8% increase from US$6.5 million in the second quarter of 2007.
Outlook for the fourth quarter ended December 31, 2007
Based on information available on November 16, 2007, China Digital TV expects its net revenues for the fourth quarter of 2007 to be in the range of US$15.5 million to US$17.5 million, representing year-over-year growth in the range of 61% to 82%.
Conference Call Information
China Digital TV's management will host an earnings conference call at 7 p.m. November 15, 2007 (U.S. Eastern Standard Time, or 8 a.m. on November 16, 2007 Beijing/Hong Kong time).
Dial-in details for this conference call are as follows:
United States: +1-617-224-4325
Hong Kong: +852-3002-1672
Please dial-in 10 minutes before the call is scheduled to begin and provide the passcode to join the call. The passcode for all regions is 'China Digital TV Earnings Call.'
Additionally, a live and archived webcast of this conference call will be accessible through the Investor Relations section of China Digital TV's website at http://ir.chinadtv.cn .
A replay may be accessed by phone at the following number until December
14, 2007:
United States: +1-888-286-8010
International: +1-617-801-6888
Passcode: 83073359
Safe Harbor Statements
This announcement contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements are made under the 'safe harbor' provisions of the U.S. Private Securities Litigation Reform Act of 1995.
These forward-looking statements can be identified by terminology such as 'will,' 'expects,' 'anticipates,' 'future,' 'intends,' 'plans,' 'believes,' 'estimates,' 'may,' 'should' and similar expressions. Such forward-looking statements include, without limitation, statements regarding the outlook for the fourth quarter of 2007 and comments by management in this announcement about trends in the CA systems, digital television, cable television and related industries in the PRC and China Digital TV's strategic and operational plans. China Digital TV may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about China Digital TV's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained or implied in any forward-looking statement, including but not limited to the following: competition in the CA systems, digital television, cable television and related industries in the PRC and the impact of such competition on prices, our ability to implement our business strategies, changes in technology, the structure of the cable television industry or television viewer preferences, changes in PRC laws, regulations or policies with respect to the CA systems, digital television, cable television and related industries, including the extent of non-PRC companies' participation in such industries, and changes in political, economic, legal and social conditions in the PRC, including the government's policies with respect to economic growth, foreign exchange and foreign investment.
Further information regarding these and other risks and uncertainties is included in our registration statement on Form F-1 and other documents filed with the U.S. Securities and Exchange Commission. China Digital TV does not assume any obligation to update any forward-looking statements, which apply only as of the date of this press release.
About China Digital TV
Founded in 2004, China Digital TV is the leading provider of conditional access ('CA') systems to China's rapidly growing digital television market. CA systems enable television network operators to manage the delivery of customized content and services to their subscribers. China Digital TV conducts substantially all of its business through its subsidiary, Beijing Super TV Co., Ltd., and its affiliate, Beijing Novel-Tongfang Digital TV Technology Co., Ltd.
For more information please visit the Investor Relations section of China Digital TV's website at http://ir.chinadtv.cn .
China Digital TV Holding Co., Ltd.
Unaudited Consolidated Statements of Operations
(in U.S. dollars)
For the three months ended
September September
30, June 30, 30,
2007 2007 2006
Revenues:
Products 12,784,867 10,094,845 9,125,783
Services 1,633,471 1,092,057 1,372,259
Total revenues 14,418,338 11,186,902 10,498,042
Business taxes (61,292) (57,393) (110,045)
Net revenue 14,357,046 11,129,509 10,387,997
Cost of Revenues:
Products (1,803,858) (1,487,442) (1,369,239)
Services (580,362) (709,499) (765,638)
Total Cost of Revenues (2,384,220) (2,196,941) (2,134,877)
Gross Profit 11,972,826 8,932,568 8,253,120
Operating expenses:
Research and development expenses (1,201,355) (1,052,015) (508,242)
Sales and marketing expenses (842,925) (619,460) (531,780)
General and administrative expenses (605,503) (701,894) (148,074)
Total Operating Expense (2,649,783) (2,373,369) (1,188,096)
Income from operation 9,323,043 6,559,199 7,065,024
Interest income 145,805 62,517 83,605
Recognition of change in the fair
value of warrants -- -- (1,351,594)
Income before income tax 9,468,848 6,621,716 5,797,035
Income tax expense - current (726,734) (659,319) --
Income tax benefit - deferred 41,044 15,560 25,582
Net income before minority interest 8,783,158 5,977,957 5,822,617
Minority interest -- -- (82,935)
Net income 8,783,158 5,977,957 5,739,682
EPS - Basic ordinary shares 0.20 0.14 0.10
EPS - Basic preferred shares 0.20 0.14 0.24
EPS - Diluted ordinary shares 0.19 0.13 0.09
China Digital TV Holding Co., Ltd.
Unaudited Consolidated Balance Sheets
(in U.S. dollars)
September December
30, June 30, 31,
2007 2007 2006
Current assets:
Cash and cash equivalents 25,926,100 16,365,704 21,137,216
Restricted cash -- 52,729 51,238
Accounts receivable 8,424,822 6,343,752 2,862,276
Inventories, net 4,559,108 4,224,011 2,759,209
Prepaid expenses and other current
assets 1,888,440 1,267,525 1,349,195
Amounts due from related parties 1,427,358 1,594,899 1,668,036
Deferred costs-current 511,184 531,955 580,157
Deferred income taxes - current 72,623 67,262 62,864
Total current assets 42,809,635 30,447,837 30,470,191
Property and equipment, net 1,035,465 901,654 537,515
Intangible assets, net 1,067,266 1,169,850 1,464,389
Goodwill 453,498 447,262 432,422
Long-term investment 402,029 105,049 --
Deferred costs - non-current 396,377 426,828 600,357
Deferred income tax - non-current 16,563 -- --
TOTAL ASSETS 46,180,833 33,498,480 33,504,874
Current liabilities:
Accounts payable 430,671 368,424 884,798
Accrued expenses and other current
liabilities 1,480,474 1,212,883 1,360,456
Deferred revenue-current 7,774,937 5,089,032 6,899,521
Dividend payable -- -- 11,300,000
Income tax payable 850,241 728,466 --
Total current liabilities 10,536,323 7,398,805 20,444,775
Deferred revenue - non-current 886,667 798,479 1,079,493
Deferred income taxes -
non-current -- 20,799 39,739
Total Liabilities 11,422,990 8,218,083 21,564,007
Minority interest 4,000,000 4,000,000 4,000,000
Series A convertible redeemable
preferred shares 16,078,197 16,078,197 16,078,197
Shareholders' equity/(deficiency):
Ordinary shares 17,000 17,000 17,000
Additional paid-in capital 5,917,571 5,574,138 4,887,267
Statutory reserve 2,353,373 2,353,373 2,353,373
Retained earnings / (accumulated
deficit) 4,808,874 (3,974,284) (16,136,820)
Accumulated other comprehensive
income 1,582,828 1,231,973 741,850
Total shareholders'
equity/(deficiency) 14,679,646 5,202,200 (8,137,330)
TOTAL LIABILITIES, MINORITY INTEREST,
SERIES A CONVERTIBLE REDEEMABLE
PREFERRED SHARES AND SHAREHOLDERS'
EQUITY/(DEFICIENCY) 46,180,833 33,498,480 33,504,874
China Digital TV Holding Co., Ltd.
Reconciliation of Non-GAAP Results
(in U.S. dollars)
For the three months ended
September September
30, June 30, 30,
2007 2007 2006
GAAP Net Income 8,783,158 5,977,957 5,739,682
Non-cash share-based compensation 343,433 378,157 31,466
Amortization of intangible assets 118,041 164,530 105,792
Non-GAAP Net Income 9,244,632 6,520,644 5,876,940
For investor and media inquiries, please contact:
In China:
Helen Wu
Senior Manager of Investor Relations
Tel: +86-10 8279-0021
Email: ir@chinadtv.cn
Helen Plummer
Ogilvy Public Relations Worldwide (Beijing)
Tel: +86-10 8520-3090
Email: helen.plummer@ogilvy.com
In the United States:
Jessica Cohen
Ogilvy Public Relations Worldwide (New York)
Tel: +1-646-460-9989
Email: jessica.cohen@ogilvy.com
SOURCE China Digital TV Holding Co., Ltd.
Source: PR Newswire (November 15, 2007 - 5:00 PM EST)
News by QuoteMedia
www.quotemedia.com
hmmmmm!?!?!?
CHINA DIG TV HDG ADS (NYSE:STV)
After Hours: 38.30 -0.29 (0.75%) as of 4:20PM ET on 11/15/07
not sure about that..........hope this helps:
About China Digital TV
Founded in 2004, China Digital TV is the leading provider of conditional access (CA) systems to China's rapidly growing digital television market. As of June 30, 2007, China Digital TV had installed CA systems at 130 digital television network operators in 26 of the 32 provinces, autonomous regions and centrally administered municipalities in the PRC. China Digital TV conducts substantially all of its business through Beijing Super TV Co., Ltd., its operating subsidiary in China, and through Beijing Novel-Tongfang Digital TV Technology Co., Ltd., a PRC company that China Digital TV controls through contractual arrangements. For more information please visit China Digital TV's IR website at http://ir.chinadtv.cn .
For investor and media inquiries, please contact:
In China:
Helen Wu
Senior Manager of Investor Relations
Tel: (8610) 8279-0021
E-mail: ir@chinadtv.cn
Helen Plummer
Ogilvy Public Relations Worldwide (Beijing)
Tel: (8610) 8520-3090
E-mail: helen.plummer@ogilvy.com
In the United States:
Mr. Jeremy Bridgman
Ogilvy Public Relations Worldwide (New York)
Tel: +1 (212) 880-5363
E-mail: jeremy.bridgman@ogilvypr.com
SOURCE China Digital TV Holding Co., Ltd.
what about EBITDA comparisons to CDGT? man, this thing trades heavy volume! congrats!!!
by the way........<fwiw>
#msg-23637029
Yup ~~~ can't wait !!
I gotta sneaky feeling we're going
to like what we see/hear ~~~ and,
I think the market (yesterday/today)
recognizEZ that as well.
GLTY !!
EZ
Quarterlies are being released tonight at 7:00
another nice follow through day brewing ~~~
Detailed Quote for China Digital TV Holding Co. Ltd. (STV)
$ 38.51 +2.65 (+7.39%) Volume: 951.56 k 11:22 AM EST Nov 15, 2007
I agree. I am patiently waiting the earnings report out next week.
Good luck all
FEAR and UNCERTAINTY are driving the price down. All the people that are selling right now are fools. They should have just waited. It will be back in the 40's by friday. Mark my words there will be tons of buying thursday and friday.
There is no doubt in my mind this will be back in the 50's after the earnings report.
Good luck to all.
Hope not but who knows, you might be right.
CHINA DIGITAL (STV)
China Digital recently IPO’d, offering 12 million of its total 55.5 million shares to investors, with an additional 1.8 million granted to the underwriters, which include Morgan Stanley, Credit Suisse, Piper Jaffrey, CIBC World Markets, and Needham & Company LLC.
ABOUT CHINA DIGITAL
China Digital dubs itself the leading provider of conditional access, or CA, systems to the PRC’s rapidly growing digital television market. Their CA systems, which consist of (i) smart cards that are inserted into set-top boxes at the subscriber’s end, or terminal end, (ii) software installed at the digital television network operator’s transmission point, or head end, and (iii) software for set-top boxes, enable digital television network operators to control the distribution of content and value-added services to their subscribers and block unauthorized access to their networks. As of June 30, 2007, they had installed CA systems at 130 digital television network operators in 26 of the 32 provinces, autonomous regions and centrally administered municipalities in the PRC.
They were the leading vendor of smart cards for CA systems in terms of smart cards shipped in the PRC for each of the first and second quarters of 2007, with a market share of approximately 44% in each quarter, according to Analysys International, a Beijing-based market research firm. They derive a substantial majority of our revenues from sales of their smart cards, which accounted for 85.6% and 87.9% of their total revenues in 2006 and in the six months ended June 30, 2007, respectively. In addition, they license their set-top box design to set-top box manufacturers and sell advanced digital television application software such as electronic program guides and subscriber management systems to digital television network operators.
PRC television network operators are in the early stages of switching from analog to digital transmissions, and the PRC government has set a target of 2015 for operators nationwide to complete the digital transition.
MARKET OPPORTUNITY
China has the largest television viewing market in the world, with televisions in 362 million households, of which 139 million households subscribed to cable television, as of December 31, 2006, according to Analysys International. Of this, 12.5 million were digital cable subscribers as of 12/31/06 and this number is expected to grow to 111 million by 12/31/10. The market for cable subscribers should also grow substantially over time.
China Digital currently sports a 44% market share of the CA systems industry. Assuming the currently small market it operates in grows as much as is expected, China Digital TV (STV) has a significant opportunity ahead of itself.
RISKS
The company currently does not have a significant source of recurring revenues. However, the company can continue to upgrade it’s software which in turn will prompt network operators to purchase new smart cards for its end customers.
Another risk is that people in China generally are not accustomed to paying a lot for cable TV. The average consumer gets cable television for next to nothing. With rising incomes, though, and more disposable income, I believe this risk will be significantly reduced over time.
FINANCIAL STATS
Revenues
2004: $3.6 Million
2005: $13.1 Million
2006: $30.4 Million
1H 2007: $21.6 Million
Net Income (Loss)
2004: $(10.7) Million
2005: $4.5 Million
2006: $7.3 Million
1H 2007: $12.2 Million
VALUATION
STV currently has 55.7 Million shares outstanding and as of 10/12/07, it had a market cap of $2.7 Billion. Revenues grew 109% during the 1st half of 2007 vs. the 1st half of 2006 while net income grew 256%. As the services side of their business grows, net income relative to revenues will continue to grow because the services side of their business sports higher margins. Assuming a growth rate in earnings as follows:
2007: 225%
2008: 85%
2009: 70%
2010: 50%
I get net income of $111 Million in 2010. Assuming a 40 multiple on earnings at that time and then discounting earnings by 12% per year, I get a fair value of $3.19 Billion or $57.21. However, I believe this is conservative and think that the company has a chance to grow faster than the above rates suggest. Additionally, I believe there is upside potential in the rate of growth of digital subscribers given the governments request to upgrade all networks to digital from analog within the next several years.
If you want to compare China Digital to a company in the U.S., I’d recommend looking at Scientific Atlanta as a somewhat reasonable comparison. SFA was bought out by Cisco for $6.9 Billion in 2005 and while they don’t do exactly the same things as China Digital, it’s about as good of a comparison as I can find.
CONCLUSION
I would recommend that investors purchase shares of China Digital as a play on the booming digital cable growth in China. I believe shares can rise to $100 within 18 to 24 months.
(Disclosure: I own shares of STV. I purchased them at $45 to $47 and again at $39)
Copyright 2007. Blogging China Stocks.com. All rights reserved.
Nearly HOD.
STV closed strong
I know two people that got in on NED. Not doing quite as well as the STV IPO. I am more into the STV technology. In my opinion, the market share and potential growth for STV over the next 2 years is way more intriguing.
Yes, the next earnings report could send this one up to a new level. Lets all hope so.
STV and NED nice today
another chinese company comming out today!
Noah Education Holdings Ltd. Announces Pricing of Initial Public Offering on NYSE
PR Newswire - October 18, 2007 10:21 PM ET
Noah Education Holdings Ltd. ("Noah"), a leading provider of interactive education content in China, announced today that its initial public offering of 9,847,129 American Depositary Shares ("ADSs"), each representing one ordinary share of the company, was priced at an initial public offering price of $14.00 per ADS. The ADSs will begin trading on the New York Stock Exchange on October 19, 2007 under the symbol "NED."
Of the 9,847,129 ADSs sold in the offering, 8,725,572 ADSs were sold by Noah, and 1,121,557 ADSs were sold by a selling shareholder. Noah has granted the underwriters a 30-day option to purchase up to 1,477,069 additional ADSs to cover over-allotments.
Deutsche Bank Securities Inc. acted as book runner, CIBC World Markets Corp. and Thomas Weisel Partners LLC acted as co-lead managers, and First Shanghai Securities acted as co-manager for the offering.
Noah's registration statement relating to these securities has been declared effective by the United States Securities and Exchange Commission. This news release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
The offering of the securities is made only by means of a prospectus forming a part of the effective registration statement. A copy of the prospectus relating to the offering may be obtained by contacting Deutsche Bank Securities Inc. by mail, Attn: Prospectus Department, 100 Plaza One, Jersey City, NJ 07311, by telephone at (800)-503-4611 or by email: prospectusrequest@list.db.com.
About Noah
Noah Education Holdings Limited (NYSE: NED) ("Noah") is a leading provider of interactive education content in China. Noah develops and markets interactive multimedia learning materials mainly to complement prescribed textbooks used in China's primary and secondary school curricula. Noah delivers content primarily through handheld digital learning devices, or DLDs. In 2007, Noah opened its first after-school tutoring center in Chengdu, China as part of its strategy to become China's leading brand in supplemental education content and service. For more information about Noah, please visit http://www.noahtech.com.cn .
I emailed investors relations they are going to have PR soon on the earnings, my friend who is Chinese traslated some of the STV website they have more contracts and 60% market i think there is going to be run in november!!!
Unfortnately, it is doing more down that up recently. I am pretty sure the traders have left the building. I should start a gradual or better climb from around here. IMHO
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