China’s building economic slowdown isn’t dampening enthusiasm from hoteliers, with word that Starwood (NYSE: HOT), operator of the Sheraton and Westin chains, is about to double the number of its top-end luxury properties in the market. Starwood’s announcement comes just 3 months after US rival Hyatt (NYSE: H) announced its own major China expansion. (previous post) I should be fair and point out quickly that Starwood’s latest expansion isn’t all that large in terms of actual numbers, involving the opening of just 4 new properties. I should also point out that this kind of plan was probably the result of at least 3 or 4 years of planning, meaning work began well before China’s current economic slowdown. Read Full Post…
Another US-traded Chinese online game firm could be headed for de-listing, after shares of China Mobile Games (Nasdaq: CMGE) tanked on reports of a major bribery scandal. China Mobile Games’ woes are just the latest in a growing list for US-traded online game makers, which have earned the official title of “no respect” from Wall Street investors. Two of the sector’s biggest players, Shanda Games (Nasdaq: GAME) and Giant Interactive (NYSE: GA), are in the process of privatizing, and I wouldn’t be surprised to see a buyout offer emerge for China Mobile Games following this new scandal. Read Full Post…
A new complaint in Europe by smartphone maker ZTE (HKEx: 763; Shenzhen: 000063) is shining a spotlight on Chinese gadget makers’ dependence on foreign technology, which often ends up making them hostages to big western patent holders. I personally find ZTE’s new complaint against Vringo just slightly amusing, since ZTE and crosstown rival Huawei are consistently among the world’s largest global patent recipients these last few years — a fact both companies love to trumpet. Apparently many of those patents aren’t worth too much, which leaves companies like ZTE still quite reliant on foreign technology. Read Full Post…
The World Cup kick-off seems like an appropriate theme for this week’s wrap of the microblogging realm, where a series of verbal sparring matches has broken out among a number of tech officials. One of the most entertaining saw a ZTE (HKE: 763; Shenzhen: 000063) smartphone executive launch a sarcastic assault at Xiaomi’s Lei Jun, who was spouting his usual nonstop promotional hype. While ZTE went on the offensive, executives from e-commerce firms Jumei (Nasdaq: JMEI) and Vancl were on the defensive, deflecting accusations and insinuations against their companies and executives. Meantime, a top JD.com (Nasdaq: JD) executive provided some lighter entertainment with his own reminiscences of watching actual World Cup games in his younger years. Read Full Post…
The following press releases and media reports about Chinese companies were carried on June 19. To view a full article or story, click on the link next to the headline.
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Vacation Rental Site Tujia Completes $100 Mln Series C Funding (English article)
ZTE (HKEx: 763) Files Antitrust Complaint With European Commission Against Vringo (Businesswire)
Guangzhou Daily Withdraws Lawsuit Against Today’s Headlines App (Chinese article)
Huawei Expands In Russian Tech Services After Putin’s China Deal (English article)
Billionaire JD.com (Nasdaq: JD) Founder Lines Up Next Challenge: Beating Alibaba (English article)
Two of China’s leading filmmakers are in the headlines today, with Huayi Bros (Shenzhen: 300027) and Enlight Media (Shenzhen: 300251) both making mid-sized acquisitions to diversify their operations in the rapidly changing media space. Both companies are taking steps outside their core businesses, reflecting the latest in a series of uneasy marriages between traditional content makers and newer companies involved in an array of content making and media-related services.
In the first case, Huayi is buying a controlling stake in Shenzhen Huayuxun Tech Co, operator of the maizuo.com Internet ticketing platform. The second deal will see Enlight buy a similar controlling stake in game developer and operator Refeng Network Technology. Read Full Post…
An unprecedented veto by China’s anti monopoly regulator is shining a spotlight on the nation’s growing clout in global corporate deals, and is also providing clues about how Beijing could use regulatory powers to protect major state-owned firms. This particular deal has implications for both the trade and corporate sectors, as Beijing has formally blocked a deal that would have seen 3 of Europe’s top shipping companies form a global alliance. That alliance might have benefited the entire industry with lower prices and reduced costs, but it almost certainly would have posed a challenge to China’s major state-owned shippers. Read Full Post…
Following the recent completion of this year’s national college entrance exam, or gaokao, and the coming end of the academic year, I thought I’d take a look this week at the concept of cheating and its place in the academic worlds of both China and the US. I was drawn to the subject after reading about the extraordinary measures that test centers took in Shanghai to prevent high-tech cheating during this year’s recent gaokao.
As a university teacher myself, I also have strong views and experience with the matter, though nothing surprises me much these days after 4 nearly years teaching both undergraduates and graduate students. Read Full Post…
Legend Holdings is trying to show it’s more than just a technology company in the run-up to an IPO as early as this year, with word that it’s investing in one of China’s largest dental clinic operators. The move looks like a smart one for several reasons, and should certainly help convince investors that Legend is different from its biggest individual holding, PC giant Lenovo (HKEx: 992). That kind of differentiation will be critical to the success of an IPO, which could offer a chance for investors to buy into one of China’s oldest entrepreneurial firms. Read Full Post…
Semiconductor chipmaker Montage Technology (Nasdaq: MONT) could soon become the latest Chinese firm to de-list from New York, after it accepted a buyout offer last week not long after its shares were hammered by a short seller attack. Like many of its US-listed Chinese peers that have also recently privatized, Montage learned the hard way that publicly traded firms are often helpless in the face of short sellers that prey on weak and poorly governed listed companies. Read Full Post…
The following press releases and media reports about Chinese companies were carried on June 17. To view a full article or story, click on the link next to the headline.
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