The following press releases and media reports about Chinese companies were carried on August 14. To view a full article or story, click on the link next to the headline.
══════════════════════════════════════════════════════
Baidu (Nasdaq: BIDU) In Talks To Acquire Nuomi, Ding Ding Map (English article)
UPS (NYSE: UPS) Expands Logistics Reach To Meet Emerging Demand in China (Businesswire)
I’m calling today “IPO Tuesday” because there are quite a few interesting news bits involving Chinese listing plans, led by an unexpected report that Internet giant Tencent (HKEx: 700) is eying Singapore for a listing for its popular WeChat mobile messaging service. That same report cites a source saying that Tencent itself eventually aims to complement its existing Hong Kong listing with a dual listing in New York — another unexpected twist for one of China’s most dynamic Internet companies. Meantime, China’s largest investment bank CICC is also making headlines with word of a listing plan, as Internet company 500wan.com moves ahead with its own New York IPO. Read Full Post…
Shanghai’s endless summer heat wave has taken over the city for more than a month now, monopolizing everything from the latest headlines to ordinary conversation. It’s difficult to pick up a copy of the Shanghai Daily or Oriental Morning Post these days without reading about the latest scorching temperatures splashed across the front page. The guard at my building inevitably greets me each day with his latest comments on the heat, and many conversations with friends start the same way. Read Full Post…
I wasn’t too surprised to read the latest news that British retailing giant Tesco (London: TSCO) was effectively bowing out of the Chinese supermarket business, as the company never really found a niche in the fiercely competitive market. But more interesting will be the fate of remaining giants Walmart (NYSE: WMT) and Carrefour (Paris: CA), and even domestic leader Sun Art (HKEx: 6808), as these companies struggle to remain relevant amid a major assault from e-commerce firms. Of those big players, only Walmart has made a serious move into e-commerce, which looks set to rapidly overtake traditional markets in China’s retailing space. Read Full Post…
The following press releases and media reports about Chinese companies were carried on August 13. To view a full article or story, click on the link next to the headline.
══════════════════════════════════════════════════════
Sina (Nasdaq: SINA) Reports Q2 Financial Results (PRNewswire)
ZTE (HKEx: 763) To Sell ZTE Open Firefox OS Phone on eBay US and UK (Businesswire)
Alibaba’s Taobao Bans Externally Linked QR Codes (English article)
500wan.com Chooses Deutsche Bank, Stifel For $150 Mln New York IPO (Chinese article)
Yum’s (NYSE :YUM) July China Restaurant Sales Drop More Than Expected (English article)
We’ve been reading all year about how China is set to overtake the US to become the world’s largest smartphone market in 2013, and now we’re seeing some numbers that tell the story more vividly. The latest figures on China’s smartphone market show Apple’s (Nasdaq: AAPL) position slumping in the second quarter, as sales have surged for a field of domestic players cranking out millions of cheap models, many selling for less than 1,000 yuan ($160 )each. Up-and-coming smartphone maker Xiaomi entered that part of the market just 2 weeks ago with its introduction of the Hongmi, which retails for just 799 yuan. (previous post) Read Full Post…
After several years of trying to figure out what to do with billions of dollars in problematic loans made by Chinese banks during the global financial crisis, Beijing may be close to a long-term solution with plans to create a special market for selling off those loans. Central leaders should be commended for finally addressing a problem that has been hanging over China’s banking sector for the last 2 years, putting the nation’s financial recovery at risk. At the same time, this latest rescue plan once again underscores the close relationship between China’s major banks and the central government, which often prevents them from behaving like true commercial banks. Read Full Post…
A suddenly intensifying rivalry between Internet giants Alibaba and Tencent (HKEx: 700) is building steam, as the pair jockey for position in the fast-growing space for electronic payments and other financial services. It does seem appropriate that these 2 companies are setting the national tone in this race, as they are China’s 2 biggest Internet firms and have risen rapidly on the strength of their ability to innovate. I slightly favor Tencent in this new race due to its ability to roll out new services that complement its existing products at a relatively gradual pace. That contrasts with Alibaba’s most recent approach of launching a much wider range of services at a quicker pace, which runs the risk of overwhelming and confusing consumers.
After offering some rare praise last week for China Unicom (HKEx: 762; NYSE: CHU) related to a smart new tie-up with Internet giant Tencent (HKEx: 700), I’m sorry to have to return to my older pattern of criticizing this bumbling company, this time for a 4G strategy that looks quite schizophrenic. Somewhat appropriately, Unicom discussed its latest 4G plans on a day when it also bumbled the release of its latest financial results. In that instance, a government organization published Unicom’s interim results before their official release via the Hong Kong Stock Exchange, forcing Unicom to request a temporary halt in its stock’s trading until the official stock exchange release. Read Full Post…
Milk powder makers fined as price-fixing probe winds down
A surprise flare-up in scandals involving foreign companies that began in July appears to be subsiding, with one of the earliest scandals over price fixing by milk powder makers getting resolved through a series of fines and price adjustments. I won’t comment too much on the validity of the claims, since I’ve discussed that element of the story before with my assertion that this sudden round of probes may be at least partly motivated by politics. More importantly, this resolution of the milk powder case is likely to be followed by similar closure for some or all of the other recent scandals, allowing everyone to get back to the more important business of creating products that are safe and affordable. Read Full Post…
Embattled telecoms equipment maker Huawei is hoping that Britain will become the key turning point in its quest for acceptance by the west, based on its recent flurry of initiatives there designed to show portray itself as a good corporate citizen. I’ve been reporting on China for a while now, and will openly say that Huawei is certainly doing a good job of trying to look like a western-style company by highlighting its contributions to the markets where it does business. Among the companies I follow, only PC giant Lenovo (HKEx: 992) engages in a similar level of this kind of PR. Read Full Post…
