The following press releases and media reports about Chinese companies were carried on July 13-15. To view a full article or story, click on the link next to the headline.
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Glaxo (London: GSK) Executives Admit to Bribery, Tax Crimes, China Says (English article)
Qihoo 360 (NYSE: QIHU) In Final Talks To acquires Sogou For $1.4 Bln (English article)
Spreadtrum (Nasdaq: SPRD) Agrees To Be Acquired by Tsinghua Unigroup (PRNewswire)
The headlines have been buzzing these last few days with news on Internet giant Tencent (HKEx: 700) and its WeChat mobile messaging service, which has become the company’s hottest new product but is still looking for ways to make money. The most interesting rumor, which appears to be false, had Tencent in talks to purchase a controlling stake of leading online travel agent Ctrip (Nasdaq: CTRP). Meantime, other media are reporting that WeChat’s international expansion is accelerating, and that Tencent is quietly testing out a new mobile gaming platform for the service. Read Full Post…
It happened in 2011, but the sudden collapse of financial services firm Longtop Financial more than 2 years ago is still in the news as the US securities regulator tries to determine what caused the crisis that sparked a prolonged winter for US-listed Chinese stocks. While Longtop itself became the first victim of that crisis long ago, the next big victim could soon be the company’s auditor, the China affiliate of global accounting giant Deloitte Touche Tohmatsu. A final showdown on that front could be coming soon, following word that the US Securities and Exchange Commission (SEC) has finally gained access to auditing records that are most likely related to the Longtop case. Read Full Post…
A few months ago I wrote about 2 emerging leaders in the fast growing sector for taxi apps, and now we’re hearing word that those companies, Didi Dache and Kuaidi Dache, may be in talks for an equity tie-up. The reports are a bit vague, which leads me to question their accuracy; but they highlight the fact that this interesting and fast-growing sector is in need of consolidation. Read Full Post…
The following press releases and media reports about Chinese companies were carried on July 11. To view a full article or story, click on the link next to the headline.
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Lenovo’s (HKEx: 992) Eedoo Sold to Unnamed Software Company – Source (English article)
Tencent (HKEx: 700) In Talks To Buy Ctrip (Nasdaq: CTRP) Stake – Source (Chinese article)
Social E-Commerce Firm The Fancy Raises $53 Mln (Chinese article)
Smithfield (NYSE: SFD) CEO faces Senate heat over sale to China (English article)
Qihoo 360 (NYSE: QIHU) Protects Against Android Vulnerability (PRNewswire)
It seems I was incorrect with my previous prediction that an alliance between online gaming giant NetEase (Nasdaq: NTES) and US game designer Activision Blizzard (Nasdaq: ATVI) could be headed for trouble, with news of a major new tie-up between the pair. The news that NetEase has won the China rights for Activision Blizzard’s new “Hearthstone: Heroes of Warcraft” game comes more than 2 years after NetEase first licensed another popular game from the US company, and appears to reflect a strengthening of their relationship. (company announcement; English article) Read Full Post…
After months of heated rhetoric, the voice of reason is growing between Europe and China as they seek to end their dispute over Beijing’s state support for its solar panel sector. In the latest sign that a potential agreement to resolve the dispute could be near, Beijing has decided not to levy punitive tariffs against European polysilicon, the main ingredient used in making solar panels. (English article) Many had seen China’s launch of an anti-dumping investigation into European and US polycilicon imports last year as a retaliatory move for similar US and European investigations into Chinese solar panels. Read Full Post…
The following press releases and media reports about Chinese companies were carried on July 10. To view a full article or story, click on the link next to the headline.
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Didi Dache, Kuaidi Dache to Form Equity Partnership – Reports (English article)
China’s CSRC Hands Over First Batch of Audit Documents To US Regulator (Chinese article)
Alibaba to Issue Loan-Backed Securities on Shenzhen Exchange (English article)
Abbott Cuts China Infant Formula Prices Up to 12 Pct Amid Probe (English article)
It’s a new week, which increasingly seems to mean a new investigation against a foreign firm for anti-competitive behavior. Last week it was foreign milk powder and drug makers that came under Beijing’s scrutiny, and now we’re getting word that global packaging giant Tetra Pak is also being probed for potential abuse of its market dominance in China. Read Full Post…
US stock markets have lost yet another Chinese company with word that hotel operator 7 Days (NYSE: SVN) has successfully privatized, but could soon gain another member amid signs that online literature provider Shanda Cloudary may be preparing to restart its long-stalled IPO process. These 2 cases show companies moving in very different directions, but do seem to indicate that public listings in New York remain an important money-raising option for profitable, Chinese tech firms with big growth potential. Read Full Post…
The following press releases and media reports about Chinese companies were carried on July 9. To view a full article or story, click on the link next to the headline.
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Ping An (HKEx: 2318) Of China Said To Buy Lloyd’s Of London Building (English article)
BMW (Frankfurt: BMWG) Extends Sales Lead Over German Rivals in June (English article)
ICBC (HKEx: 1398) Beats Bank of America on List Of 1,000 Top Global Banks (Chinese article)
