Bottom line: Baidu could buy a small stake in Xunlei but is unlikely to acquire the company outright as part of their new alliance, while 58.com’s plan to rebuild its newly acquired job site should have good chances of success.
58.com goes to work on ChinaHR
I’ve been predicting a marriage for a while for online video orphan Xunlei (Nasdaq: XNET), even as it remains stubbornly single despite its lack of scale to survive as an independent company. First it appeared the company might get bought by smartphone sensation Xiaomi after the pair boosted their strategic tie-up in May, but then nothing more happened. Now the gossip mills are likely to start turning again, following the latest announcement of a major partnership between Xunlei and Baidu’s (Nasdaq: BIDU) iQiyi online video service.
58.com
Meantime in another Internet news bit, the top executive at leading online classified ad site 58.com(NYSE: WUBA) is saying he will need 2 years to turn around the underperforming online job site ChinaHR, which he acquired earlier this year. His assessment comes after the site laid off nearly all of its staff as part of the deal that saw 58.com buy ChinaHR from its Irish owner. Read Full Post…
The big IPO news of the day is Alibaba’s debut public filing for its long-awaited New York listing, but a flurry of other news in the space is continuing the recent stream of downbeat signals from the sputtering market. Leading the headlines are the latest terms for an offering by online cosmetics seller Jumei.com and a debut public filing for online recruitment firm Zhaopin.com, neither of which look too positive. The signals were equally negative from recently listed car information website Autohome (NYSE: ATHM), whose shares dived after it filed a fairly respectable first-quarter earnings report. Read Full Post…
The following press releases and media reports about Chinese companies were carried on April 3. To view a full article or story, click on the link next to the headline.
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ICBC (HKEx: 1398) Considers Bid For Unicredit’s Pioneer Fund Arm: Source (English article)
Security Software Maker Cheetah Mobile Files For $300 Mln US IPO (English article)
The following press releases and media reports about Chinese companies were carried on February 21. To view a full article or story, click on the link next to the headline.
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Tencent (HKEx: 700) In Talks For 6 Pct Of JD.com, No Agreement Yet (Chinese article)
InterDigital (Nasdaq: IDCC) Says Won’t Charge High Royalty Fees To Chinese Firms (Chinese article)
Genetically Modified Ingredients Found In KFC (NYSE: YUM) Soy Milk (Chinese article)
The following press releases and media reports about Chinese companies were carried on May 10. To view a full article or story, click on the link next to the headline.
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New Zealand One of Huawei’s Most Strategic Markets -CEO Ren (Press release)
Jingdong Tests 3-Hour Delivery Service in Beijing (English article)
