I’m christening today “Earnings Friday” because it’s easily the peak day of third-quarter earnings announcements for major US-listed Chinese firms, with everyone from real estate services firm E-House (NYSE: EJ) to drug maker Simcere Pharmaceutical (NYSE: SCR) releasing their results overnight. Since I have a natural bias towards tech, I’m going to focus today on the latest results from 2 of China’s oldest Internet firms, Sina (Nasdaq: SINA) and NetEase (Nasdaq: NTES), as well as its newest player Pactera (Nasdaq: PACT), which was formed just last week through the merger of former IT outsourcing leaders HiSoft and VanceInfo. (previous post)
Tag Archives: China company stock news
Dangdang: Past the Worst? 当当：渡过最坏时期？
A couple of interesting news bits are coming from the e-commerce space, led by the latest quarterly data from Dangdang (NYSE: DANG) that shows the worst may be past for this fast-fading sector pioneer. Meantime, we’re also getting new sales figures for the November 11 Singles Day holiday from Jingdong Mall, showing just how distant a second-place player the company is to sector-leader Alibaba.
News Digest: November 16 报摘： 2012年11月16日
The following press releases and media reports about Chinese companies were carried on November 16. To view a full article or story, click on the link next to the headline.
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- China PICC In Talks With AIG (NYSE: AIG) As Buyer For $4 Bln HK IPO (English article)
- Jingdong Mall Posts 2.5 Bln Yuan in Sales For 3 Days Around Nov 11 Singles Day (Chinese article)
- NetEase Reports Q3 Unaudited Financial Results (PRNewswire)
- National Cable Operator To Be Formed Without China Mobile (HKEx: 941) Capital (Chinese article)
- Dangdang Announces Q3 Results (PRNewswire)
- Latest calendar for Q3 earnings reports (Earnings calendar)
Xiaomi Bets Big on Internet TV 小米押注互联网电视
Smartphone darling Xiaomi is in the new headlines again with the release of its new Internet TV product, including interesting comments by marketing-savvy founder Lei Jun indicating he intends to pour big money into this new endeavor. Specifically, media quoted Lei saying he has invested more than $100 million to acquiring a set-top box developer for Xiaomi’s Internet TV project — quite a hefty sum for such a young company whose business scale is still relatively small. (Chinese article)
News Digest: November 15 报摘： 2012年11月15日
The following press releases and media reports about Chinese companies were carried on November 15. To view a full article or story, click on the link next to the headline.
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- Tencent (HKEx: 700) Announces Q3 Results (HKEx announcement)
- Qihoo 360 (NYSE: QIHU) Launches Mobile Search (English article)
- China Telecom (HKEx: 728) Prepares to Launch iPhone 5 (Chinese article)
- ICBC (HKEx: 1398) Gets Approval For Branches in Saudi Arabia, Kuwait (HKEx announcement)
- Xiaomi Releases Internet TV Set-Top Box (English article)
- Latest calendar for Q3 earnings reports (Earnings calendar)
China Plane Maker Creates US Demand 中国商飞创造海外需求
If you can’t sell your products, then create a customer to buy them. That concept has been practiced for years by companies looking to sell their new products to wary buyers, with Chinese solar panel maker Suntech (NYSE: STP) most recently trying out the strategy to largely disastrous results. Now it seems that aspiring Chinese commercial aircraft maker COMAC is also trying out the strategy, with news that the company will participate in the revival of storied but now defunct US carrier Eastern Air Lines. (English article)
Vipshop, Renren Search for Profits 唯品会与人人网业绩迥异
Two very different stories are emerging from the latest results of discount online retailer Vipshop (NYSE: VIPS) and social networking site Renren (NYSE: RENN), which are both trying desperately to escape from the loss column amid growing investor impatience with money-losing Chinese web firms. On the one hand, Vipshop’s latest results show it is likely to emerge into the profit column in the final quarter of this year, prompting cheers from investors. But Renren appears to be moving in the opposite direction, reporting a widening loss as China’s ad market worsens. Meantime, new details are also emerging on the latest fund-raising by e-commerce giant Jingdong Mall, which also points to growing investor impatience with money losing web firms.
News Digest: November 14 报摘： 2012年11月14日
The following press releases and media reports about Chinese companies were carried on November 14. To view a full article or story, click on the link next to the headline.
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- China Sells Jetliners, May Spur Eastern Air Lines Revival (English article)
- LDK Solar (NYSE: LDK) Reaches Agreement to Terminate Wafer Contract (PRNewswire)
- Huntsman, Sinopec (HKEx: 386) In JV To Build, Operate Nanjing PO/MTBE Facility (PRNewswire)
- Renren (NYSE: RENN) Announces Unaudited Q3 2012 Financial Results (PRNewswire)
- Apple (Nasdaq: AAPL) Appeals 520,000 Yuan Award in China Encyclopedia Case (Chinese article)
- Latest calendar for Q3 earnings reports (Earnings calendar)
Alibaba Raises Profits, Jingdong Raises Money 阿里巴巴净利翻番 京东商城完成新融资
New reports from the e-commerce space show that Alibaba continues to dominate the sector with its popular TMall, even as leading rival Jingdong Mall shows no signs of easing its challenge as it has raised $400 million in new funds. Before I go any further in this discussion, I should add a disclaimer saying that both of these companies are private and not required to disclose any information publicly. As such, both have become masters at strategically giving or leaking information to the media that plays to their greatest advantage. That said, there’s usually at least some truth to the information they release, which is what makes it worth looking at.
eBay, Xiu: A Smart Partnership eBay牵手走秀网为明智之举
A couple of weeks after news first leaked out of eBay’s (Nasdaq: EBAY) return to China through a new partnership with an online fashion seller (previous post), we’re getting more details about the tie-up with Xiu.com. My major takeaway is that this looks like a smart, well-conceived arrangement that could have a strong chance of success. EBay seems to have learned some important lessons and is applying them to this new tie-up, following its previous Chinese foray that began nearly a decade ago and ended in a failure costing the company hundreds of millions of dollars.
SouFun Results: Real Estate Pick-Up 搜房业绩：房屋交易回暖
The latest quarterly results from online real estate services firm SouFun (NYSE: SFUN) point to a pick-up in real estate buying and selling, which should benefit names like SouFun and rival E-House (NYSE: EJ) that benefit from sales activity and are less concerned with pricing trends. SouFun has given us a wide range of numbers in its latest quarterly report, but the one that caught my attention was the company’s decision to raise its 2012 revenue outlook to $400-$420 million, from a previous outlook of $390-$410 million.
