The headlines today are filled with reports trumpeting Lenovo’s official ascension to the top of the global PC rankings, as the company officially passed longtime champion Hewlett-Packard (NYSE: HPQ) to become the world leading computer seller. So now the next question is: What’s does it mean? Unfortunately, the answer could be “Not much,” as PCs get set to embark on a long-term decline that will ultimate see them go the same way as record players and VCRs as they get replaced by more nimble mobile devices. Over the shorter term, Lenovo will also have to show it has the power to stay at the top before it can claim true bragging rights as the world’s biggest PC seller — a challenge that could be tough for reasons I’ll explain shortly.
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Hasbro Tests Out China Toy Box 孩之宝牵手奥飞动漫
Just a year after leading global toy maker Mattel (NYSE: MAT) decided it didn’t want to play in China, the second largest US toy company Hasbro (Nasdaq: HAS) is taking a shot at the market with a new joint venture that could stand a better chance of success. Unlike Mattel, which shuttered its flashy House of Barbie in March last year, Hasbro is taking a more behind-the-scenes approach to the market by developing toys for the China market rather than making any major retail initiatives. While there’s certainly no guarantee of success in this tough market, this kind of back-end approach seems a bit more suitable for a less-developed market like China where consumer tastes and spending patterns are a bit different from those in more mature markets like the US and Europe.
Shanghai Street View: Memorializing the Party 沪经动向：纪念中共
Beijing and Xi’an may have the edge over other cities as treasure troves of Chinese history, but Shanghai is the clear leader when it comes to the history of the Communist Party. The CCP was founded here in Shanghai in 1921, which was chronicled in the star-studded but disjointed film “Beginning of the Great Revival”, released last year on the Party’s 90th anniversary. The city’s status as an intellectual hotbed in the early 20th century made it a natural home for the Party in its younger days, even if the going was often difficult as CCP leaders and members played a game of cat-and-mouse to avoid being wiped out by a ruling Nationalist government later intent on their extinction.
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VIP Shop Soars Past Dangdang 唯品会市值超当当网
After an IPO earlier this year that was a major flop, discount e-commerce company Vipshop‘s (NYSE: VIPS) have quietly jumped in the last few months despite many obstacle it has faced this year. This otherwise low-key company, which has been out of the headlines since its disastrous IPO in March, caught my attention after I read a report saying its market cap has passed that of Dangdang (NYSE: DANG), previously China’s largest publicly listed e-commerce firm. (Chinese article)
China Turns Up Short Seller Counter Attack 中国回击做空投资者
Chinese Internet executives are providing steady entertainment in their recent counter-offensive against short sellers who have attacked their stocks repeatedly for more than a year, with industry elder statesman Lee Kai-Fu now preparing to sue one short-seller over defamation. When the history books are written, Lee, a former high-level executive at both Microsoft (Nasdaq: MSFT) and Google (Nasdaq: GOOG), could well emerge as the white knight that ultimately rescued battered Chinese tech companies.
Tencent E-Commerce: Price Wars II? 腾讯促销：第二轮电商价格战？
Less than 2 months after the latest flare-up in an ongoing battle for supremacy of China’s e-commerce market, we’re getting word that Tencent (HKEx: 700), a relative newcomer to the sector, may be preparing to turn up the heat again with yet another massive spending blitz. This potential new flare-up, which should come as a surprise to no one, could be particularly worrisome as it shows that the cash-rich Tencent is willing to spend big bucks and fight a long war to win a piece of an already overcrowded Chinese e-commerce market.
Suntech Gets Set to Tackle Debt 尚德着手应对债务问题
Struggling solar cell maker Suntech (NYSE: STP) has just issued a euphemistically upbeat plan on how it intends to “solidify market leadership,” as it tries to return to health amid a prolonged industry downturn that has seen prices plunge more than 70 percent over the last 2 years. But investors are clearly focused on the last part of the plan, specifically discussing how the company intends to deal with nearly $600 million in convertible bonds that will come due in March next year. The process of renegotiating that debt is likely to be a long one, and is hardly guaranteed success without major support from Beijing and other government entities.
Telecoms: ZTE, Apple and China Mobile 电信业：中兴、苹果和中国移动
A wide range of buzz is coming from the telecoms space, led by more reverberations from Washington’s controversial decision to lock out Huawei and ZTE (HKEx: 763; Shenzhen: 000063) from the US telecoms equipment market. China’s 3 major telcos are also making the headlines for other reasons, as they continue to jostle for position in both the 3G wireless and also the fixed-line broadband spaces.
Qihoo Alliance Offensive Targets Baidu 奇虎掀起联姻潮 欲与百度试比高
Qihoo 360 (NYSE: QIHU) is stepping up its challenge to Baidu’s (Nasdaq: BIDU) dominance in online search, with word that the security software specialist has formed a new alliance with leading online travel firm Ctrip (Nasdaq: CTRP). (English article; Chinese article) This new alliance appears to be part of a clever tactic by Qihoo to form new tie-ups with Internet companies that specifically want to see more competition in the Chinese search market and thus are willing to work closely with Qihoo as it embarks on a new online search initiative. Accordingly, I wouldn’t be surprised to see more such announcements in the months ahead as Qihoo tries to build up its So.com search engine as a viable alternative to Baidu’s own service that now controls around three-quarters of the market.
Huawei, ZTE Face Long US Winter 华为、中兴在美遭遇漫长寒冬
I don’t usually like to write about the same company or issue twice in the same week, but it’s hard to ignore a new report that has just come out of Washington saying US telcos shouldn’t do business with China’s top 2 telecoms equipment makers due to security concerns. Of course people who follow the industry will know that I’m referring to a new Congressional report taking aim at Huawei and ZTE (HKEx: 763; Shenzhen: 000063), 2 of the world’s leading telecoms equipment makers and also 2 of China’s high-tech exporting superstars. The report comes just a day after reports emerged that Huawei was considering an offshore IPO in an attempt to diffuse concerns that its equipment can be used for spying by Beijing (previous post).
News Digest: October 9 报摘： 2012年10月9日
The following press releases and media reports about Chinese companies were carried on October 9. To view a full article or story, click on the link next to the headline.
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- China’s Huawei, ZTE (HKEx: 763) Should Be Kept From US: Draft Congress Report (English article)
- Merchants Have Doubts Over TMall’s New Program Targeting Fake Goods (Chinese article)
- Haier (HKEx: 1169) Says F&P (NZ: FPA) Independent Directors’ Valuation Optimistic (Chinese article)
- Qihoo 360 (NYSE: QIHU) Partners with Ctrip (Nasdaq: CTRP) (English article)
- Cisco (Nasdaq: CSCO) Cuts Ties to China’s ZTE (HKEx: 763) After Iran Probe (English article)
