In what looks like a highly coordinated ambush, a group of China’s top online video sites have teamed up with Hollywood to sue Internet search leader Baidu (Nasdaq: BIDU) for video piracy. This is the first time I can recall seeing big western names team up with Chinese companies to launch such a major lawsuit, creating not only legal headaches but also a huge wave of negative publicity for Baidu. The action also comes as Baidu makes a series of major moves in the online video space in a bid to challenge industry leader Youku Tudou (NYSE: YOKU), which is also one of the co-plaintiffs in this new lawsuit. Read Full Post…
Two new stories in the consumer space are offering an interesting look at the difficulty of taking over Hong Kong-listed companies, providing headaches for potential acquirers but also interesting opportunities for minority investors. The 2 cases involve dairy giant Mengniu (HKEx: 2319) and Swedish paper products company SCA (Stockholm: SCAA), which have each bought a controlling stake of their Hong Kong-listed targets rather than the taking outright ownership that both probably would have preferred. In the former case, Mengniu was aiming to buy raw milk supplier Yashili (HKEx: 1230), while SCA was aiming to buy tissue products maker Vinda (HKEx: 3331) Read Full Post…
Tencent (HKEx: 700) founder Pony Ma is suddenly shedding his low-key style with a flurry of public appearances and speeches, which have been the talk of the microblogging world over the past week. I’ve admired Pony for quite a while now, as he’s quietly built up Tencent into one of the world’s biggest Internet companies with his strong product development skills and early bet on social networking services (SNS). But public speaking has never been a strong suit for this Internet visionary who is one of China’s richest men, which is evident in his mundane series of appearances and mostly mundane comments over the last week. Read Full Post…
The following press releases and media reports about Chinese companies were carried on November 14. To view a full article or story, click on the link next to the headline.
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Sina Announces $600 Mln Convertible Note Offer, Share Repurchase (PRNewswire)
Chinese Internet Firms Sue Baidu (Nasdaq: BIDU) For Online Piracy (English article)
After a roaring few weeks in late October, the market for offshore Chinese IPOs has lost some momentum in the last 2 weeks as investors return their focus to important issues like company quality and growth prospects. In the latest sign of the market’s fickle nature, Chinese bank Huishang (HKEx: 3698) has sputtered in its trading debut in Hong Kong, boding poorly for other mainland banks lining up to list there. Another piece of IPO news is less ominous, with media reporting that education services firm Tarena is preparing to list as early as next year, most likely in New York. While that news is relatively neutral, reports are also pointing out that one of Tarena’s top executives recently joined the company from NQ Mobile (NYSE: NQ), the former New York-listed Chinese high flyer whose stock has tanked recently on doubts raised by a short seller. Read Full Post…
A pair of tired tech titans, namely software maker Microsoft (Nasdaq: MSFT) and electronics maker Sony (Tokyo: 6753), are making new pushes in the Chinese instant messaging (IM) and gaming spaces, as each tries to remain relevant in the fast growing market. Both of these companies are struggling for direction not only in China but also globally, with each recently seeking new leadership in a bid to regain their former glory. Back on the China front, Microsoft is formally ending a longstanding local partnership in a bid to bolster its flagging IM services in China. Meanwhile, Sony is making headlines in gaming, one of its few remaining strong areas, with word that it plans to roll out its popular PlayStation consoles in China. Read Full Post…
The following press releases and media reports about Chinese companies were carried on November 13. To view a full article or story, click on the link next to the headline.
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Huishang (HKEx: 3698) In Flat Debut On Weak Demand For China Bank Stocks (English article)
Sony (Tokyo: 6753) To Expand Console Game Business Into China (English article)
Sina (Nasdaq: SINA) Reports Q3 Financial Results (PRNewswire)
Training Company Tarena Prepares IPO After New Hire (English article)
Microsoft (Nasdaq: MSFT) Says To Find New JV Partner For Skype In China (Chinese article)
During my trip to Australia over the recent National Day holiday, I had an experience at Pudong International Airport that I would never care to repeat, even though it has a happy ending. While I probably gained a few gray hairs in the process, the entire ordeal was also quite remarkable because it shows just how far telecommunications in China have advanced in just the last 2 decades. Read Full Post…
Sometimes it seems like I’m living in slow motion when I write about China telecoms, since major developments in the sector often drag on for months past their expected launch dates. That’s been the case for 3 major new initiatives that could inject important new life into the space, even though rumored launch dates for all 3 have passed numerous times. The latest news bits on all 3 indicate things are still moving ahead, meaning perhaps we will someday soon see the announcement of licenses for 4G mobile service and new virtual network operators (VNOs), as well as the launch of a new national broadband network operator.Read Full Post…
Shanghai eatery gets diners hooked with poppy seeds
I thought I’d read about every kind of food safety scandal imaginable until I saw a new report on an eatery here in Shanghai that found a creative way to encourage customer loyalty for its crayfish dishes. I had to smile to myself as I read the report, and even had to slightly admire this restaurant for its creative, albeit illegal, approach to building up repeat business.
At a broader level, this “Case of the cagey crayfish shop” shines a spotlight on a more widespread phenomenon in China that amuses both me and many of my western friends. Put simply, we marvel at the inability of Chinese entrepreneurs to differentiate themselves from their rivals, with the result that many shops often look identical to one another and give little reason for customer loyalty. Read Full Post…
US electric car maker Tesla (Nasdaq: TSLA) has landed in the headlines with an escalating trademark dispute in China, casting a spotlight on Beijing’s ongoing efforts to bolster the country’s intellectual property (IP) protections. China has made great strides in its IP protection in the last 5 years, resulting in a healthier business environment where both domestic and foreign companies can feel more secure that their trademarks, copyrights and product designs won’t be illegally stolen and copied. Read Full Post…
