China Tracker - Details for Mecox Lane (MCOX)

 Mecox Lane
Shares Outstanding (MRQ): 57.88 mill
New Shares / Dilution (TTM): 28.54 mill97.29%
Cash (MRQ): 100.97 mill0.00%
Account Receivables (MRQ): 1.09 mill0.00%
Account Receivables (Q/Q): -0.40 mill  
Long-Term Debt (MRQ): NO DEBT
Revenue Growth (Q/Q): -25.11% 
Revenue Growth (Y/Y): -2.44%
Net Income Growth (Q/Q): -268.90% 
Net Income Growth (Y/Y): N/A (LOSS) 
EPS Growth (Y/Y): N/A (LOSS) 
Net Margin (Q/Q): -7.0% (3.1%)-10.10% 
Net Margin (Y/Y): -7.0% (-1.5%)-5.50% 
EPS | P/E (2 MRQ Projection): -$0.050.00 
Price/Sales (2 MRQ Projection): 0.00
Price/Book (MRQ): 0.00 
Auditor: Deloitte Touche
* operating cash flow data not (yet) included
 Basic Facts and History (show more)
Reporting Type: Foreign Company (20-F Filings) 
Going Public: IPO on 2010-10-26 
IPO Price: $11.00 (-100.00% since IPO)

 Business Outlook

Mecox Lane Limited today announced that SINA Corporation and a subsidiary of China Dongxiang entered into separate agreements to acquire an aggregate of 117,505,755 ordinary shares (equivalent to 16,786,535 ADSs) of Mecox Lane from two major shareholders of Mecox Lane, Maxpro Holdings Limited and Ever Keen Holdings Limited, both wholly owned by Sequoia Capital. Each of Mecox Lane's ADSs trading on the Nasdaq Global Market represents seven ordinary shares.

Under the share purchase agreements, SINA will purchase 76,986,529 ordinary shares (equivalent to 10,998,075 ADSs), or approximately 19% of the issued and outstanding shares of Mecox Lane, and DongXiang will purchase 40,519,225 ordinary shares (equivalent to 5,788,460 ADSs), or approximately 10% of the issued and outstanding shares of Mecox Lane. The purchase price is US$0.8571 per share, equivalent to US$6.00 per ADS. The selling shareholders also agreed to grant SINA and DongXiang options to purchase 48,254,173 ordinary shares (equivalent to 6,893,453 ADSs) and 18,306,117 ordinary shares (equivalent to 2,615,159 ADSs) of Mecox Lane, respectively. The options are exercisable during a two-year period starting from the closing date of the above share purchases and the exercise price is US$1.1429 per ordinary share, equivalent to US$8.00 per ADS. Upon the closing of share purchases, a representative from SINA will be appointed as a director of Mecox Lane and Mr. Kelvin Yu, a vice president with Sequoia will resign from the board.

(Source: Globe Newswire, 2011-03-01)

The Company estimates that for the full year of 2011, its total Internet revenue will achieve year-on-year growth of 40%.

(Source: Globe Newswire, 2011-03-01)


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 Analyst Coverage (show more)
2011-07-15MacquarieInitiationNeutral$3.00
2011-05-24Roth CapitalReiterationBuy$6.00
2011-04-19Roth CapitalReiterationBuy$8.50
2011-03-25Roth CapitalReiterationBuy$8.50

MCOX is currently followed by 2 analysts. 1 give the stock a positive rating, 1 rate it neutral and 0 give it a negative rating. The average price target is 4.50.

MCOX
Retail/Consumer
SCORE
-1
READ: Score Cards Explained
SAFETY/RISK SCORE
MODERATE RISK
DETAILS: Safety/Risk Model for MCOX
Current Price:  n/a
F10k Day (2010-10-26): -100.00%$17.26
2010 Close: -100.00%$7.41
2011 Close: -100.00%$1.16
High (2012-04-09): -100.00%$1.35
Low (2012-10-16): -100.00%$0.52
Exchange:
Market Capitalization: n/a
Total Shares: 57.88 mill
Float: n/a
Avg Volume: 150.60 k
Short Interest: 1.43 mill
Short Ratio: 5.67%9.5 d
Last Quarter: 2011-03-31
Revenue (MRQ): 48.06 mill
Net Income (MRQ): -3.37 mill
all financial data provided without warranty