US-listed Chinese companies have made a flurry of strategic moves on Wall Street over the long October 1 holiday, with former high-flyers Qihoo 360 (NYSE: QIHU) and 58.com (NYSE: WUBA) taking steps to prop up their sagging share prices. The correction now taking place is long overdue, following huge run-ups in New York-traded Chinese stocks over the last year and a half. Still, the sell-off doesn’t bode too well for car rental firm eHiCar Services, which has just become the first major Chinese firm to file for a Wall Street IPO following the blockbuster listing for Alibaba (NYSE: BABA) last month. Read Full Post…
The following press releases and media reports about Chinese companies were carried on October 8. To view a full article or story, click on the link next to the headline.
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China’s CIC, AVIC End Talks To Acquire Aircraft Leaser Avolon: Sources (English article)
Hilton (NYSE: HLT) Sells NY’s Waldorf Astoria to Anbang Insurance For $1.95 Bln (Businesswire)
Canadian Solar (Nasdaq: CSIQ) Gives Update On Japanese Utility-Scale Pipeline (PRNewswire)
Qihoo 360 (NYSE: QIHU) Announces $200 Mln Share Repurchase Plan (PRNewswire)
The Rent-A-Car Of China: eHi Car Services Files For $100 Mln US IPO (English article)
So much has been written already about the sudden approval of the iPhone 6 in China, after several weeks of unexplained delays, that I thought I would focus on the broader implications of this surprise move in the ongoing war of words between the US and China over cyber security.
I praised iPhone maker Apple (Nasdaq: AAPL) in August for emerging as a voice of reason in this war of words after it decided to use China-based servers for to store some of its local user data (previous post), and it seems like more praise is in order this time as well. Only this time the praise should go to Beijing, for finally taking a break from the cyber security war of words by realizing that companies like Apple are far more interested in doing business than engaging in cloak-and-dagger spying games. Read Full Post…
Just months after tapping financial markets for nearly $250 million, solar panel maker Trina (NYSE: TSL) has just announced another plan to raise a similar amount as it tries to take advantage of improving sentiment towards its sector. Such fund-raising would have been unthinkable as recently as a year ago, when recovery of the solar panel sector was far from certain following a prolonged downturn. In a relatively positive sign, Trina’s latest fund-raising plan didn’t trigger a major sell-off in its shares, indicating investors are more confident of the company’s and the sector’s future prospects. Read Full Post…
Senior and mid-level executives from a wide range of Chinese tech firms were on the move this past week, crossing the Pacific to tour some of the top US tech names in Silicon Valley. Stops on the tour, co-organized by a Chinese outfit with the colorful name of Geek Park, included such Internet giants as Google (Nasdaq: GOOG), Twitter (NYSE: TWTR), as well as newer companies like Airbnb and Pinterest, and electric car powerhouse Tesla (Nasdaq: TSLA). But certainly the biggest and most intriguing stop on this Silicon Valley tech tour was a visit to the global headquarters of Facebook (Nasdaq: FB), which also happens to be in the process of opening a China office. Read Full Post…
We will be on holiday from October 1-7 in observance of the Chinese National Day holiday. A limited number of articles will be published during that time, with a return to the regular schedule on October 8.
The following press releases and media reports about Chinese companies were carried on October 1-6. To view a full article or story, click on the link next to the headline.
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iPhone 6 & iPhone 6 Plus Available In China On Friday, October 17 (Businesswire)
Alibaba (NYSE BABA) Makes Investment in Shiji Information Technology (Businesswire)
New Oriental (NYSE: EDU) Announces Completion Of SEC Investigation (PRNewswire)
In a sign of just how overheated M&A in China’s tech sector has become, 2 major purchases by e-commerce giant Alibaba (NYSE: BABA) and online travel leader Ctrip (Nasdaq: CTRP) are receiving scant attention from investors, even though they are worth nearly $1 billion combined. Instead, the big news grabber is another headline involving Alibaba, with word that the world’s second largest Internet firm has just become one of a handful of private Chinese companies to win new private sector banking licenses being awarded by Beijing. That development will see Alibaba and several partners open an Internet-based bank that will cater to smaller savers and borrowers, an area often neglected by the current field of big state-run lenders. Read Full Post…
A significant move of consolidation occurred in China’s fragmented microchip design sector last week, when global leader Intel (Nasdaq: INTC) purchased a strategic minority stake in a Chinese company formed through the recent combination of 2 midsized players. The step will bring together domestic smartphone chip designers RDA Microelectronics and Spreadtrum, with Intel’s huge financial resources, R&D muscle and global sales network. Read Full Post…
Amid the recent flood of seasonal news on hairy crabs and the October 1 holiday, one headline that caught my attention was a rather dry one detailing the extended hours for the Shanghai subway during the upcoming Golden Week. The story was mostly informational, including a timetable that will see our subway take the ground-breaking step of operating the popular Lines 1 and 2 past midnight for several days around the holiday.
But underlying this mostly factual story is a far more subtle tale of Shanghai’s evolving nightlife, which has quietly pushed back bedtimes over the last 20 years in step with China’s rising economic prosperity. That growing wealth has given people more money to spend on recreation, such as dining and cultural events, much of which happens in the evening hours after work. Read Full Post…
The following press releases and media reports about Chinese companies were carried on September 30. To view a full article or story, click on the link next to the headline.
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Alibaba (NYSE: BABA) Finance Arm, Juneyao Airline Get Private Bank Approval (English article)
Lenovo (HKEx: 992) Says $2.1 Bln IBM (NYSE: IBM)) x86 Server Deal To Close Wed (English article)
Ctrip (Nasdaq: CTRP) To Purchase Certain Premises In Sky SOHO For $497 Mln (PRNewswire)
Trina (NYSE: TSL) Announces Offering of $100 Mln Convertible Senior Notes (PRNewswire)
Real Estate Developer Evergrande (HKEx: 3333) To Enter Solar Power Sector (Chinese article)
