Tag Archives: CIC

News Digest: October 8, 2014

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The following press releases and media reports about Chinese companies were carried on October 8. To view a full article or story, click on the link next to the headline.
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  • China’s CIC, AVIC End Talks To Acquire Aircraft Leaser Avolon: Sources (English article)
  • Hilton (NYSE: HLT) Sells NY’s Waldorf Astoria to Anbang Insurance For $1.95 Bln (Businesswire)
  • Canadian Solar (Nasdaq: CSIQ) Gives Update On Japanese Utility-Scale Pipeline (PRNewswire)
  • Qihoo 360 (NYSE: QIHU) Announces $200 Mln Share Repurchase Plan (PRNewswire)
  • The Rent-A-Car Of China: eHi Car Services Files For $100 Mln US IPO (English article)

News Digest: August 27, 2014

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The following press releases and media reports about Chinese companies were carried on August 27. To view a full article or story, click on the link next to the headline.
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  • Sinopec (HKEx: 386), Tencent (HKEx: 700) Join To Develop Non-Oil Business (Chinese article)
  • Microsoft (Nasdaq: MSFT) Probe Also Includes Browser, Media Player – SAIC (Chinese article)
  • China Investment Corp Boosts SMIC (HKEx: 981) Stake To 12 Pct From 11.25 Pct (HKEx announcement)
  • KKR Agrees To Buy 18 Pct Of China Chicken Firm For $400 Mln (English article)
  • Trina Solar (NYSE: TSL) Announces Q2 Results (PRNewswire)
  • Latest calendar for Q2 earnings reports (Earnings calendar)

China Eyes Global Aviation With Avolon Bid

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China in reported bid for Avolon

After a failed bid at buying the world’s largest aircraft leasing company last year, China appears to be gearing up for a second attempt to enter the lucrative space with plans to bid for European giant Avolon. In this instance, the report is coming from a major Chinese newspaper that says China Investment Corp is teaming up with Aviation Industry Corp of China (AVIC) in the bid, which could be worth some 12 billion euros ($16 billion). That would easily make it the largest global acquisition by a Chinese firm outside the resource sector, reflecting the country’s growing financial might as many European firms continue to struggle with after-effects of the continent’s debt crisis of several years ago. Read Full Post…

Tencent Beats Alibaba To Banking License

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Tencent beats Alibaba to banking license

Earlier reports of e-commerce leader Alibaba’s strong political ties appear to be overstated, following word that archrival Tencent (HKEx: 700) has become the first of China’s major Internet firms to win a highly sought banking license. Both companies had been aggressively expanding into financial services over the past year, though each was reliant on partnerships with other companies that already had licenses to offer services in the highly regulated sector dominated by big state-run companies. But now Tencent will be able to offer many of those services on its own, following this ground-breaking award of a license from the nation’s banking regulator. Read Full Post…

News Digest: July 12-14

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The following press releases and media reports about Chinese companies were carried on July 12-14. To view a full article or story, click on the link next to the headline.
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  • Alibaba Estimates Own Market Value At $130 Bln (Chinese article)
  • China’s Hony Capital Snaps Up Pizza Express For $1.6 Bln (English article)
  • China’s 3 State-Owned Carriers Form Telecoms Tower Firm (English article)
  • China State TV Says Apple (Nasdaq: AAPL) iPhone Creates Security Concern (English article)
  • Headphone Maker Beats Sues Chinese Counterfeiters For $135 Bln (English article)

Former CIC Exec Sets Up New China Fund

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Former CIC exec starts new fund

Just weeks after a group of seasoned managers launched a major new fund in Shanghai, word is out that another top money manager is preparing to launch yet another fund aimed at selling China companies to global investors. The man behind the latest fund-raising drive is Yu Bin, a former director from China Investment Corp (CIC), China’s sovereign wealth fund. Yu is part of a new generation of market-savvy Chinese fund managers to emerge over the last decade, often after returning from the west where they received both education and experience working for major global fund houses and investment banks. Read Full Post…

News Digest: June 8, 2012 报摘： 2012年6月8日

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The following press releases and media reports about Chinese companies were carried on June 8. To view a full article or story, click on the link next to the headline.

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◙ Hewlett-Packard (NYSE: HPQ) China Head Steve Gill Steps Down After 10 Months (Chinese article)

◙ Apple (Nasdaq: AAPL) Said to Add Baidu (Nasdaq: BIDU) as iPhone Search Engine in China (English article)

◙ Suning.com (Shenzhen: 002024) to Offer In-Store Pick-Up Nationwide (English article)

◙ Alibaba Open to Temasek, CIC Investment to Buy Back Yahoo Stake (English article)

◙ BYD (HKEx: 1211) Wins European Electric Bus Orders for Netherlands Schiermonnikoog (Businesswire)

News Digest: May 25, 2012 报摘： 2012年5月25日

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The following press releases and media reports about Chinese companies were carried on May 25. To view a full article or story, click on the link next to the headline.

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◙ China Banks May Miss Loan Target for 2012, Officials Say (English article)

◙ China’s CIC eyes Up to $2 Billion Stake in Alibaba Group: Sources (English article)

◙ E-House (NYSE: EJ) Reports Q1 Results (PRNewswire)

◙ Tencent (HKEx: 700) to Invest $1 Bln in E-Commerce Subsidiary (English article)

◙ China Auto Withdraws Nasdaq Listing Application (Chinese article)

News Digest: February 8, 2012 报摘： 2012年2月8日

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The following press releases and media reports about Chinese companies were carried on February 8. To view a full article or story, click on the link next to the headline.

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◙ Apple (Nasdaq: AAPL) Removes Qihoo 360 (Nasdaq: QIHU) Apps From App Store (Chinese article)

◙ CIC, Sinopec (HKEx: 386) Among Investors in Oil Sands IPO: Source (English article)

◙ Yahoo (Nasdaq: YHOO) Chairman Exits, Review Drags On (English article)

◙ Sinopec (HKEx: 386), PetroChina (HKEx: 857) See First Fuel Price Increase in 10 Months (English article)

◙ Beijing Real Name Registration System to Be Fully Implemented by March 16 (Chinese article)

◙ Latest calendar for Q1 earnings reports (Earnings calendar)

E-House, Blackstone Moves Auger Real Estate Rebound 中国房地产市场可能接近底部

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There’s a couple of interesting news bits coming from the struggling real estate sector, which indicate its current downturn could be nearing a bottom and that better days may be on the horizon in the next year or two. One of those bits is seeing E-House (NYSE: EJ), one of China’s top real estate services providers, taking control of the China franchise of major US home seller Century 21 (NYSE: CTC); while the other is seeing several major players, including Blackstone (NYSE: BX) and China’s sovereign wealth fund, setting up a real estate financing joint venture. Let’s start with the E-House deal, which is seeing the Chinese firm take a 58 percent stake in Century 21 China for a relatively modest $25 million. This deal is clearly being driven by a weak real estate market that has seen transaction volumes plummet as China takes steps to cool the market, driving E-House into the red in its latest quarter (company announcement) and leaving transaction-driven brokerages like Century 21 also struggling. This deal comes as E-House attempts to buy out China Real Estate Investment Corp (Nasdaq: CRIC), its joint venture with Sina (Nasdaq: SINA) (company announcement), and is the latest sign of consolidation as the real estate services industry struggles for survival. The moves look like good ones for E-House, and should leave it well positioned to be a true industry leader when the current downturn ends. The second news bit is seeing Blackstone, China Investment Corp (CIC) and domestic real estate developer Greentown (HKEx: 3900) in talks to set up a real estate finance joint venture with 2 billion yuan, or about $300 million, in registered capital, with CIC holding 60 percent. (English article) Establishment of this venture is yet another sign that the big players like CIC and Blackstone see the current downturn ending in the next 1-2 years, as that’s the earliest we might see any of their new projects come to market. With many of the country’s real estate developers now facing a cash crunch in the current downturn, demand should be strong for this kind of financing in the next 1-2 years, boding well for the venture.

Bottom line: A big acquisition by E-House and a major new real estate financing joint venture are signs that China’s real estate downturn is near bottom.

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