It appears that dominant wireless telco China Mobile (HKEx: 941; NYSE: CHL) has discovered a sudden love affair with Pakistan, with word that it’s weighing an acquisition bid to complement its existing operation in the South Asian market. If anyone detects just a tiny bit of sarcasm in my tone, it’s because I find it somewhat amusing that the world’s largest wireless telco is focusing so much energy on such a small market when there are so many more promising ones for its troubled global expansion. Read Full Post…
The following press releases and media reports about Chinese companies were carried on June 27. To view a full article or story, click on the link next to the headline.
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ZTE (HKEx: 763) Sees Return To Profits Amid 4G Build-Out – Official (Chinese article)
Security software has remained a relatively quiet product area in China despite its huge potential, largely due to the domination of the market by early entrant Qihoo 360 (NYSE: QIHU). But that looks set to change soon, with the latest reports indicating that search leader Baidu and social networking giant Tencent (HKEx: 700) could be preparing to enter the market with their own rival products. Read Full Post…
The retail world is buzzing with the latest reports that global giant Carrefour (Paris: CARR) is considering a potential withdrawal from China, as it tries to figure out how to make money in a market with huge potential but also massive competition. A Carrefour source in China was quick to deny the possibility of a sale, but clearly big discussions are happening behind the scenes on what’s likely to be some major changes for the world’s second largest retailer. One of the company’s biggest handicaps is its failure to recognize the rapid rise of e-commerce in China, which has put it at a disadvantage over other traditional retailers like Walmart (NYSE: WMT) and Suning (Shenzhen: 002024). Read Full Post…
The ongoing cash crunch at Chinese banks may be partly behind reports that a trio of regional banks are aiming to make IPOs in Hong Kong, with Bank of Shanghai, Huishang Bank and CGB all aiming to list in the second half of the year. These regional lenders may also be losing patience while waiting for China to lift a freeze on new IPOs that dates back to last year, which has led to a backlog of dozens of companies that want to make offerings. The China Securities Regulatory Commission (CSRC) had been giving signals that it could soon lift the freeze, though it may change its mind if the current sell-off on Chinese stock markets continues. Read Full Post…
The following press releases and media reports about Chinese companies were carried on June 26. To view a full article or story, click on the link next to the headline.
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Carrefour (Paris: CARR) Considering Sale Of China, Taiwan Businesses: Report (English article)
China Mobile (HKEx: 941), Etisalat Weigh Bids For Pakistan Telco – Sources (English article)
Baidu’s (Nasdaq: BIDU) Qunar May Seek $1 Bln IPO in H2 2013 – Investors (English article)
Tencent (HKEx: 700) Invests $47 Mln In Kingsoft Security Software Unit (Chinese article)
HJEnglish Lands Second-Round $20 Mln Funding – Source (English article)
One of my well-informed sources tells me that Shenzhen-listed IT outsourcing firm Beyondsoft (Shenzhen: 002649) is weighing a bid for rival Camelot Information Systems (NYSE: CIS), in what would be an interesting twist to the ongoing exodus of Chinese firms from US stock exchanges. If this information is true, it could mean we may start to see some bidding wars among private buyers for the growing number of Chinese firms that are abandoning their New York listings due to low valuations. Read Full Post…
I’m a big fan of Disney (NYSE: DIS), not because I worship Mickey Mouse but rather because I think they do a really good job at their core business of providing world-class family entertainment. So I was quite excited when the company announced nearly four years ago that it would build its first mainland Disneyland in Shanghai, and have watched closely for updates ever since. Read Full Post…
I previously welcomed the installment of a new generation of leaders at China Mobile (HKEx: 941; NYSE: CHL) about a year ago, but a steady series of mixed signals since then have me wondering if these new executives may be just as confused as their predecessor, former Chairman Wang Jianzhou. Since taking the helm of the world’s biggest telco, the new executives, led by new Chairman Xi Guohua, have made a number of moves that seem to reflect a company whose head remains in a haze. The latest of those has seen China Mobile just announce that it’s suspending its Skype-like Jego mobile messaging service just weeks after its launch. (Chinese article) Read Full Post…
The following press releases and media reports about Chinese companies were carried on June 25. To view a full article or story, click on the link next to the headline.
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China Cash Squeeze Eases, But Bank Shares Take Big Hit (English article)
I avoided writing about Alibaba’s controversial new Yu E Bao financial product last week, not so much because it wasn’t newsworthy but because I was personally tired of writing about China’s leading e-commerce company that has been in the headlines nonstop for much of the last month. But after all the hype has settled, I want to weigh in with my view on this new product because I think most writers have missed the main point about Yu E Bao and why it’s likely to run into big problems. Read Full Post…
