E-commerce giant JD.com (Nasdaq: JD) has formally ended its IPO process with a solid trading debut, capping a surprisingly strong performance despite signs that investors were rapidly losing interest in Chinese Internet stocks. But in a much lower profile move, smaller IPO candidate Chunkong Technology has quietly delayed its own New York offering plan, becoming the first formal casualty of fading sentiment. Chukong’s decision looks particularly significant because the company operates in the mobile gaming space, which is supposed to be one of the fastest-growth areas in China’s tech world. Read Full Post…
It seems that e-commerce giant JD.com’s decision to move slowly with its massive IPO was a good one, with word that the company’s shares have priced quite strongly in their long march to market . JD made its first public filing for a New York IPO back in early February, meaning the process of listing will have taken more than 3 months when its shares start trading on Thursday. That’s a long time in any market, and especially long for the current one where investor sentiment towards Chinese Internet IPOs was rapidly fading. Read Full Post…
When it comes to running restaurants in China, most foreign operators with any experience will say the most important step is finding the right partner to navigate both regulations and highly different tastes among Chinese diners. With that thought in mind, US restaurant stalwart The Cheesecake Factory (Nasdaq: CAKE) has picked one of the best partners possible in its newly announced decision to expand to Asia, with China as its most likely first destination. Cheesecake said it will enter the market with Maxim’s Caterers, one of Hong Kong’s most famous cake makers. Read Full Post…
Qihoo 360’s (NYSE: QIHU) controversial founder Zhou Hongyi was buzzing through the microblogging realm this week, attacking online search archrival Baidu (Nasdaq: BIDU) in one instance as he was accused by a former employee in another case of attacking Cheetah Mobile (NYSE: CMCM), a rival in the security software business. Meantime, telecoms giant Huawei was generating some rare upbeat buzz for its latest smartphone, the P7, getting several high-profile tech executives to hype the model in what looks like a page from the playbook of marketing-savvy smartphone rival Xiaomi. Read Full Post…
When the history books are written, the month of May 2014 could go down as a watershed in the Chinese battle against piracy. An obscure Shenzhen company could also be part of the story, following reports that the firm Kuaibo Technology has been fined a whopping 260 million yuan ($42 million) by the city government for repeated piracy. Then again, it’s also quite possible and likely that Kuaibo will simply shut its doors to avoid paying the fine, and then re-open nearby using another name and company registration. Read Full Post…
When it comes to the risks and rewards of doing business in China, software giant Microsoft (Nasdaq: MSFT) can write a lengthy book on the subject after years of ups and downs in the market. Just months after the company marked a modest advance with Beijing’s lifting of a decade-old ban on gaming consoles, the central government has now formally banned the installation of Microsoft’s flagship Windows 8 operating system (OS) on all government computers. It’s clear from the media reports that this ban was unexpected, though Microsoft has certainly learned to expect this kind of sudden and unexplained move after 2 decades in the market. Read Full Post…
After more than a year of preparation, China’s newly licensed virtual network operators (VNOs) began launching mobile service last week, as part of Beijing’s drive to invigorate the stodgy telecoms services sector long dominated by 3 state-run carriers. The launch of VNOs by e-commerce giant JD.com and leading electronics chain Suning (Shenzhen: 002024) both look well-conceived by targeting specific groups of consumers who are both relatively affluent and big users of mobile services. Read Full Post…
The following press releases and media reports about Chinese companies were carried on May 21. To view a full article or story, click on the link next to the headline.
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China Bans Use Of Microsoft’s (Nasdaq: MSFT) Windows 8 On Govt Computers (English article)
Jack Ma’s Yunfeng Capital Invests in Quanfeng Express – Sources (English article)
Two of China’s most dynamic e-commerce firms are in the headlines today with new strategic moves, including JD.com’s purchase of a Russian rival and Vipshop’s (NYSE: VIPS) plans to open a small loan operation. Both of these moves look well conceived, taking their respective companies into new but related areas with big growth potential. The 2 moves come as JD prepares to launch a $1 billion-plus IPO in New York as soon as this week, and as Vipshop looks for acquisitions following a big fund raising exercise earlier this year. Read Full Post…
Shanghai doesn’t get the chance to host many global events, so it’s understandable that city officials are quite excited about a major upcoming conference that will see attendance by the likes of President Xi Jinping and Russian President Vladimir Putin. But that said, the massive security drive now underway is getting a bit out of control, literally reaching new heights with word that kite flying will be banned as part of the safety effort during the event. Read Full Post…
Chinese search leader Baidu (Nasdaq: BIDU) is trumpeting its opening of a new R&D center in Silicon Valley, becoming the latest Chinese Internet company to make such a move in the tech capital of the world. The announcement is obviously full of symbolism, since Silicon Valley is home to global search leader Google (Nasdaq: GOOG), which once tried to purchase Baidu but was rebuffed by company founder Robin Li. Company watchers will also be asking if the move could auger a major new step for Baidu, which could see it challenge Google in lucrative but highly competitive western markets. Read Full Post…
