The following press releases and media reports about Chinese companies were carried on December 17. To view a full article or story, click on the link next to the headline.
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Renault (Paris: RENA) Signs $1.3 Bln JV Deal with Dongfeng (HKEx: 489) (English article)
My emotions were mixed on reading recent news of a major factory relocation by leading car maker Geely (HKEx: 175), reflecting a larger transformation of China’s cities from centers of industry to ones of commerce and modern living spaces. On the one hand, I felt some nostalgia knowing that yet another factory would be leaving one of China’s big cities, slowly stripping away a flavor so closely associated with Chinese urban landscapes. But on the other hand, these urban factories are part of history and really have no place in 21st century cities, where they are a major source of noise, congestion and pollution. Read Full Post…
Chinese firms’ addiction to distressed global assets was back in the spotlight last week with word that car maker Dongfeng Motor (HKEx: 489) is nearing a deal to purchase struggling French automaker Peugeot (Paris: PEUP). This pursuit of a global brand is consistent with Beijing’s call for Chinese firms to go global, and would certainly allow Dongfeng to quickly expand onto the world stage. Read Full Post…
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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Geely (HKEx: 175) Targets US Exports With Volvo-Developed Models in 2016 (English article)
The following press releases and media reports about Chinese companies were carried on August 23. To view a full article or story, click on the link next to the headline.
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Lilly (NYSE: LLY) Says Deeply Concerned By Bribery Allegations In China (English article)
Geely (HKEx: 175) to Offer Vehicles Jointly Developed With Volvo in 2015 (English article)
Baidu (Nasdaq: BIDU) Unveils Light App Distribution Platform (English article)
China’s auto industry is in desperate need of consolidation, and faded car maker Chery looks set to become one of the first victims despite its launch of a turnaround plan that looks like too little too late. Of course there’s always the possibility that local government stakeholders will come to the rescue of this colorful company, which is a big employer and economic engine in its home province of Anhui. But central leaders in Beijing seem increasingly determined to force consolidation in many of the nation’s overcrowded industries, and cars are one area where such downsizing is long overdue if China ever wants to produce some world-class auto makers. Read Full Post…
As if its China troubles weren’t bad enough following a weak earnings report, global tech giant Apple (Nasdaq: AAPL) is now coming under political fire from central bureaucrats in Beijing for failing to deliver promised donations after an earthquake earlier this year. Frankly speaking, I don’t have a lot of sympathy for Apple or any of the other firms that get this kind of criticism, since I find their quickness to announce donations after any major disaster somewhat insincere and largely a publicity ploy. But the fact that yet another foreign firm is coming under attack from central government sources this month certainly adds to my previous assertions that Beijing has recently embarked on a drive to discredit foreign firms and divert attention from other domestic problems. Read Full Post…
The following press releases and media reports about Chinese companies were carried on April 26. To view a full article or story, click on the link next to the headline.
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The following press releases and media reports about Chinese companies were carried on February 20. To view a full article or story, click on the link next to the headline. ══════════════════════════════════════════════════════
Sina (Nasdaq: SINA) Reports Q4 Financial Results (PRNewswire)
How China’s Most Influential Micro-Blogger Got Himself Banned From Weibo (English article)
Geely (HKEx: 175) Leading China Bids For US Green-Car Startup Fisker: Sources (English article)
Baidu (Nasdaq: BIDU) Completes Purchase of Mobile OS Developer Tapas – Report (English article)
Village Roadshow Pictures Asia’s Debut Films Break Box Office Records in China (Businesswire)
The auto industry is humming over new data that show China car sales soared 45 percent in January, marking their strongest growth since April 2010 when government incentives during the global economic crisis helped to turbocharge the sector. Industry watchers are acknowledging that seasonal factors played a major role in this latest jump, but point out that they still expect to see a return to strong growth in the upcoming Year of the Snake as China’s economy improves and consumers rediscover their love affair with cars.
News bits from the automobile space indicate the long-awaited IPO by Beijing-based car maker BAIC Motor may finally be coming soon, while the struggling Geely (HKEx: 175) is chasing a couple of distracting new initiatives in the electric vehicle and overseas markets. Let’s start with the BAIC news, as that looks the most interesting since it could provide investors with an interesting IPO opportunity later this year.
The auto industry is humming over new data that show China car sales soared 45 percent in January, marking their strongest growth since April 2010 when government incentives during the global economic crisis helped to turbocharge the sector. Industry watchers are acknowledging that seasonal factors played a major role in this latest jump, but point out that they still expect to see a return to strong growth in the upcoming Year of the Snake as China’s economy improves and consumers rediscover their love affair with cars.
