Ctrip (Nasdaq: CTRP) has just announced a new tie-up with US travel services giant Priceline (Nasdaq: PCLN), marking the latest partnership with an overseas partner by Chinese firms looking to tap growing demand from increasingly wealthy Chinese travelers. These tie-ups are also being driven by intense competition that has recently emerged in the travel space, as up-and-coming younger firms with names like Qunar and TravelSky and new sites opened by big Internet names like Jingdong Mall look to steal market share from older established players like Ctrip and eLong (Nasdaq: LONG).
Tag Archives: China company stock news
News Digest: August 8, 2012 报摘： 2012年8月8日
The following press releases and media reports about Chinese companies were carried on August 8. To view a full article or story, click on the link next to the headline.
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- Qualcomm (Nasdaq: QCOM) to Release TD-SCDMA Chips in H2 2012 (English article)
- Finance Ministry Provides Billions of Yuan for New National Cable TV Operator (Chinese article)
- Citigroup (NYSE: C) Plans to Double Outlets in China in 3 Years: Executive (English article)
- Ctrip (Nasdaq: CTRP) and Booking.com Forge Global Travel Partnership (PRNewswire)
- Youku (NYSE: YOKU), Tudou to Close Merger By Month-End – Youku Exec (Chinese article)
- Latest calendar for Q2 earnings reports (Earnings calendar)
Sohu Tests IPO Market With Big Dividend 搜狐用巨额股息试水IPO市场
Internet portal Sohu (Nasdaq: SOHU) is testing one of the worst IPO markets in recent memory with plans for listing one of its online gaming units, serving up a massive dividend and mildly upbeat quarterly results to generate hype for what otherwise looks to me like a very so-so offering. This latest plan comes against a broader backdrop of a dismal IPO market that has seen just 1 major offering for a Chinese firm in the US this year, as international investors shun Chinese stocks after a steady stream of accounting scandals that began more than a year ago. Further limiting its chances for success, this latest offering plan comes in the relatively uninspired online game sector, which is already quite competitive and where overseas investors already have a number of other choices in the form of companies such as NetEase (Nasdaq: NTES) and Perfect World (Nasdaq: PRWD), as well as Sohu’s own separately listed gaming unit Changyou (Nasdaq: CYOU).
New Mixed Signals from China Mobile, Unicom 中移动和联通释放复杂信号
Wireless leader China Mobile (HKEx: 941; NYSE: CHL) may have new leaders, but they seem to be following the company’s previous tradition of sending mixed signals with new aggressive expansion plans for its trial 4G network as it continues to neglect its current 3G system. The mixed signal syndrome seems also to have spread to rival China Unicom (HKEx: 762; NYSE: CHU), China’s second largest mobile carrier, which is reportedly in talks with Korea’s Samsung (Seoul: 005930) to launch its first tablet PC, giving the cold shoulder to longtime partner Apple (Nasdaq: AAPL), maker of the more popular iPad. These latest news bits reflect the broader reality that China’s telecoms market is in a bit of a state of turmoil, as companies look for advantage following a major government-led industry reshuffle more than 2 years ago.
LaShou: End Near With CEO Departure CEO离职，拉手网接近尾声
The steady stream of executive departures at the ailing LaShou has reached a new high with the resignation of the company’s CEO, in the latest sign that the end may be near for China’s leading group buying site as it rapidly runs out of cash. I last wrote about LaShou back in late April, when it looked like the company may only have months left to live as it bled cash after a failed New York IPO and the departure of a number of top executives, including its regional managers in Shanghai and Beijing and a vice president. (previous post) Two months later, media are now reporting that company founder Wu Bo is leaving his post as company CEO, even as he retains his position as LaShou’s chairman. (Chinese article)
News Digest: August 7, 2012 报摘： 2012年8月7日
The following press releases and media reports about Chinese companies were carried on August 7. To view a full article or story, click on the link next to the headline.
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- China Mobile (HKEx: 941) Expands TD-LTE Trial to 13 Cities (English article)
- Youku (NYSE: YOKU) Announces Q2 Unaudited Financial Results (PRNewswire)
- Changyou’s (Nasdaq: CYOU) 7Road.com Unit Plans to File for IPO (PRNewswire)
- LaShou’s Wu Bo Reliquishes CEO Title, Remains as Company Chairman (Chinese article)
- Sinopec, ENN Extend Long Stop Date for China Gas Bid to Sept 6 (HKEx announcement)
- Latest calendar for Q2 earnings reports (Earnings calendar)
Sinopec’s China Gas Bid Hit by Greed, Indecision 中石化收购中国燃气料搁浅
As yet another deadline approaches for Sinopec’s (HKEx: 386; Shanghai: 600028; NYSE: SNP) strange hostile takeover bid for natural gas distributor China Gas (HKEx: 384), I’m going to make a prediction that may look bold but also seems increasingly obvious, namely that greed and indecision will ultimately kill this controversial deal. The unsolicited offer by Sinopec and partner ENN Energy (HKEx: 2688) for China Gas will officially expire on Tuesday, though it’s quite possible we might see the pair extend the deadline yet again, following several previous extensions. (English article) But based on the clumsy way Sinopec has handled the deal so far, I see no indication that it’s prepared to raise its offer.
Xiaomi: China’s New Apple? 小米：下一个中国的苹果公司？
The sales and marketing people at smartphone wannabes like ZTE (HKEx: 763; Shenzhen: 000063), Huawei and Lenovo (HKEx: 992) are probably green with envy over the surge in publicity surrounding the upcoming launch of the newest low-cost smartphone by up-and-comer Xiaomi. I’m not usually someone who gets too excited by new product launches, but I have to admit that even I am increasingly intrigued not only by this new phone, Xiaomi’s second following the launch of its first model last fall, but also by Xiaomi itself. The hype looks very similar to the kind of excitement that companies love but often have difficulty generating for their new product launches, with Apple (Nasdaq: AAPL) as one of the few companies that can successfully generate such buzz.
Tudou, Youku Merger Moves Ahead as Growth Slows 随着增长放缓，优酷、土豆合并有进展
News Digest: August 4-6, 2012 报摘： 2012年8月4-6日
The following press releases and media reports about Chinese companies were carried on August 3. To view a full article or story, click on the link next to the headline.
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- Xiaomi to Release 2nd Generation Smartphone on August 16 – Sources (Chinese article)
- China Telecom (HKEx: 728) to Buy Parent’s 3G Assets for Over $19 Bln: Sources (English article)
- Youku (NYSE: YOKU), Tudou to Form Group Company Post-Merger (Chinese article)
- Telefonica Completes Sale of Half of China Unicom (HKEx: 762) Stake (HKEx announcement)
- Endgame Near in Sinopec (HKEx: 386), ENN $2.2 Bln China Gas (HKEx: 384) Bid (English article)
- Latest calendar for Q2 earnings reports (Earnings calendar)
China Resource M&A Set to Slow 中国海外资源并购或将放慢脚步
I previously predicted that 2012 could be a landmark year for Chinese firms to buy global energy and resource assets (previous post), and now the latest signs indicate the buying binge could quickly fizzle in 2013. The reason is simple: After ordering big state-run energy and mining companies to buy global assets to feed China’s expanding economy, Beijing is quickly realizing that rapidly falling prices for commodities like coal, oil and iron ore could render many of those overseas purchases as uneconomical in the very near future.
