The Hindu Business Line  May 25  Comment 
A group of state governments will be setting up a Learning Alliance of States (LAS) in association with the Bharti Institute of Public Policy at the Mohali campus of the Indian School of Business...
Reuters  Jan 12  Comment 
Sony Corp CEO Kazuo Hirai has weathered a crisis over a cyberattack on its Hollywood studio and its controversial comedy "The Interview", but his toughest moment may be...
Reuters  Jan 8  Comment 
Automakers and Silicon Valley upstarts are kicking their efforts to define the car of the future into a higher gear, even though many of the players disagree about what that car should be.
Reuters  Jan 7  Comment 
Automakers and Silicon Valley upstarts are kicking their efforts to define the car of the future into a higher gear, even though many of the players disagree about what that car should be.
TheStreet.com  Jan 6  Comment 
LAS VEGAS, NEV. (TheStreet) -- Go, go, Gadget, go! The Inspector Gadget would get a kick out of Rocketskates, a pair of motorized "smart" skates that strap to your shoes and propel you about town at speeds as high as 12 miles per hour.   ...
TheStreet.com  Jan 6  Comment 
LAS VEGAS (TheStreet) -- Fitbit, the maker of fitness tracking wristbands, announced several new features to help consumers meet their fitness goals. The enhancements were unveiled ahead of upcoming product launches, which Fitbit said in October...


Lentuo International (NYSE:LAS) is China's largest, private automobile retailer in Beijing in terms of revenue from sales of new vehicles. Lentuo runs 6 franchise dealerships, 10 showrooms, a repair shop and a leasing company in Beijing. The metropolitan area of Beijing is the largest market for cars in China. The company relies mostly on new vehicle sales, and in 2009, such sales consisted of 91% of total revenue. The company's repair and maintenance service made up 8.7% of 2009 revenues, and the remaining .3% came from insurance and financing services.[1]

China's automobile industry has grown significantly in over the past 3 years by a compounded annual growth rate of 23.7% in terms of the number new car sales. The continued rise in China's middle class is expected to continue to increase this market. The growth in disposable of income of the average Chinese person is expected to bolster demand for luxury type items like new cars. According to the Chinese Automobile Dealers Association, the number of new car sales is predicted to grow by 10.3% from 2009 to 2010. Because Beijing is the largest metropolitan market for new cars, Lentuo believes it is well positioned to take advantage of this growing trend.[2]

The company's initial public offering of stock on the NYSE occurred on December 9, 2010. The company offered 7.5M ADSs each for $8 each. This was at the low end of the revised range of $8-$10. The company's initial range was $11.5-$13.5. The offering raised $52M. The lead underwriters of the deal were Cowen & Company and HSBC Holdings (HBC).[3]

Lentuo's total revenues in 2010 were $345M. This corresponds to a 25% increase over the 2008 total revenue figure. Despite this growth, the company reported a net loss in 2009 of $64K. This loss was largely due to a write down from discontinued operations. [4]


  1. LAS F-1/A 2010 PROSPECTUS SUMMARY "Our Business" pg 1
  2. LAS F-1/A 2010 PROSPECTUS SUMMARY "Industry Background" pg 2
  3. Renaissance Capital - IPO Home "Lentuo International prices IPO at $8, the low end of the revised range" 10 Dec 2010
  4. LAS F-1/A 2010 PROSPECTUS SUMMARY "Summary Consolidated Financial and Operating Data" pg 10
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