Tag Archives: Mascotte

News Digest: August 1-3, 2015

The following press releases and media reports about Chinese companies were carried on August 1-3. To view a full article or story, click on the link next to the headline.
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  • Hisense (Shanghai: 600060) Pays $23.7 Mln for Sharp Corp Mexico Operations (Chinese article)
  • Renren (NYSE: RENN) Acting CFO Resigns, Interim CFO Appointed (PRNewswire)
  • Suning (Shenzhen: 002024) Puts 1 Bln Yuan into PPTV, Challenges LeTV, Xiaomi (Chinese article)
  • Tencent, Evergrande Invest in Internet Community Service Site Mascotte (HK: 136) (Chinese article)
  • Ajisen Ramen in $60 Mln Ride on Baidu (Nasdaq: BIDU) Take-Out Dining Service (Chinese article)
  • Latest calendar for Q2 earnings reports (Earnings calendar)

NEW ENERGY: Yingli Crowd Funds, Tencent Tries Polysilicon

Bottom line: Yingli’s use of crowd-funding to finance a small project and the bargain sale price of a small polysilicon maker reflect continuing struggles at second-tier solar companies and the need for more consolidation.

Desperate Yingli tries crowd funding

Two solar energy stories are showing how overcapacity continues to haunt the sector 2 years after it began to emerge from a major downturn. The first involves a desperate-looking fund-raising plan from the struggling Yingli (NYSE: YGE), which is trying to use crowd funding to pay for a new solar plant. The other news involves another slightly bizarre investment in the space, with Internet titan Tencent (HKEx: 700) and real estate giant Evergrande (HKEx: 3333) paying a bargain price for Mascotte (HKEx: 136), a money-losing Taiwanese maker of polysilicon, the main ingredient used to make solar panels. Read Full Post…