NY Sell-Off Hits Spreadtrum, Dangdang, Xunlei 纽约股市大跌展讯、当当网和迅雷受创

By newsdoug on June 19, 2011

Halting the China slide Chinese firms are finally starting to take action in a bid to halt the New York sell-off that has seen some of their shares lose half their value or more in the last few weeks. Leading the charge are chip designer Spreadtrum (Nasdaq: SPRD) and online retailer Dangdang (NYSE: DANG), which have both announced share purchasing programs to try and halt their recent slides. (Spreadtrum announcement; Dangdang announcement) It’s not hard to understand why they made their announcements: Spreadtrum shares were down more than 40 percent since mid-April before its announcement, though they bounced back 7 percent after disclosing the plan to buy up to $100 million worth of company stock. Dangdang, meantime, has tanked by more than half over the same period, as investors dump China stocks in droves amid recent concerns over accounting issues at some Chinese companies, and also following a generally broad-based rally that had seen many such stocks rise considerably over the last year. Another victim of the sell-off appears to be video sharing site Xunlei, which Chinese media are reporting has decided to delay its $200 million upcoming Nasdaq IPO due to the poor market sentiment. (Chinese article; previous post) I would look for more of these kinds of announcements in the weeks ahead, as the companies seek to halt a skid in their share prices that is probably overblown. I personally don’t trade in these stocks because I write about them; but if I were an investor, I would say that now could be a good time to start looking at some of these for good bargains, as the accounting concerns really shouldn’t be an issue for the larger players with market caps of $1 billion or more.

Bottom line: Look for more US-listed China firms to launch share purchasing programs to support their sagging stocks and pick up shares at relative bargain prices.

过於几周，部分赴美上市的中国公司股票贬值至少一半，如今这些公司终於开始采取措施，试图阻止纽约股市抛售其股票。率先采取行动的是芯片设计商展讯通信（Spreadtrum）<SPRD.O>和当当网<DANG.N>，两家公司均宣布回购股票计划，从而结束近期其股票下跌的状况。找出其中的原因并不难：从4月中旬到展讯宣布上述决定前，其股价跌幅逾40%，展讯宣布回购价值高达1亿美元的公司股票後，其股价回升了7%。当当网股价同期跌幅逾一半，原因是投资者近期担忧，部分中国赴美上市公司会计信息存在问题，况且去年许多此类股票大涨，因而投资者纷纷抛售中国公司股票了解获利。另一名受害者是视频分享网站迅雷，中国媒体报导称，因为美国市况不佳，迅雷已决定推迟其价值2亿美元的纳斯达克IPO（首次公开发行）。我预计，未来几周还会有更多中国公司发表类似声明，以阻止其股价继续下跌。因为我的工作是报导上市公司新闻，所以我个人从不进行这些股票交易；但如果我是投资者，我想说，这是低价买进某些股票的好时机，因为对於市值逾10亿美元的较大公司，真的不用担忧其会计问题。

一句话：预计将有更多在美上市的中国企业宣布回购股票计划，以阻止其股价下跌，不妨以相对较低的价位加仓。

Enjoy this blog? Please spread the word :)