The following press releases and media reports about Chinese companies were carried on July 18. To view a full article or story, click on the link next to the headline.
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China Blocks GSK (London: GSK) Finance Head From Leaving Country (English article)
More good news is coming from the battered solar panel sector, with mid-sized player ReneSola (NYSE: SOL) sharply boosting its revenue and margin forecasts for the current quarter in the latest sign of a sector rebound. ReneSola isn’t forecasting a return to profitability just yet, but the latest signs do seem to indicate the sector’s strongest players could return to the black by the end of this year if current trends continue. Some could also interpret this upbeat news as reflecting growing confidence that the EU and China could soon reach an important compromise that would prevent the former from imposing anti-dumping tariffs on Chinese solar panels. Read Full Post…
Everyone is talking about the latest blockbuster acquisition by online search leader Baidu (Nasdaq: BIDU), so I thought I’d get in my own quick thoughts on its purchase of one of China’s leading wireless apps suppliers. In some ways, Baidu’s purchase of 91Wireless for up to $1.9 billion looks like a smart move that will help it diversify beyond its core search business. But in others, the move seems to reflect an M&A strategy lacking focus, since the app business doesn’t really complement any of Baidu’s other core product areas. Read Full Post…
Two months after reports first emerged that web portal Sohu (Nasdaq: SOHU) was looking to sell its Sogou search engine, it appears a sale may finally be imminent to security software maker Qihoo 360 (NYSE: QIHU). If indeed the latest reports are true, the big winner from such a sale would be Qihoo, which would combine its own so.com search service with Sogou to create a major new player with a quarter of China’s search market. China tech watchers like myself will also be happy to see this story finally disappear from the headlines, following a non-stop string of mixed signals since early May from Sohu’s fickle and frustrated founder and Chairman Charles Zhang. Read Full Post…
The exodus of Chinese tech firms from New York stock exchanges continues at a steady pace, with cellphone chip maker Spreadtrum (Nasdaq: SPRD) announcing a sweetened buyout offer and online entertainment firm Shanda indefinitely delaying its IPO plans. These latest moves reflect not only the chilly US investor climate towards Chinese firms, but also the fact that many of these firms have become attractive buyout targets due to their low valuations. As a result, we could see some interesting bidding wars emerge in the weeks ahead for a few of the companies that have already received buyout offers. Read Full Post…
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…
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)
