The following press releases and media reports about Chinese companies were carried on December 24. To view a full article or story, click on the link next to the headline.
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Citic Bank Buys BBVA’s Stake In Financial Unit For $1.05 Bln (English article)
Billionaire Wang’s Dalian Wanda (HKEx: 3699) Property Firm Falls in HK Debut (English article)
MIIT Says To Issue 4G FDD-LTE Licenses Next Year (Chinese article)
NQ Mobile (NYSE: NQ) Board Authorizes Up to $80 Mln Share Buyback (PRNewswire)
Enlight Media (Shenzhen: 300251), Qihoo (NYSE: QIHU) Form Online Video JV (English article)
A national anti-corruption campaign at major state-run firms has filled the headlines these last few months, but a spate of smaller scandals last week cast a spotlight on another lower-profile problem that is far too common in China’s private corporate sector. That problem is deficient business ethics, which created embarrassments twice for smartphone sensation Xiaomi, and also for social networking app developer Momo (Nasdaq: MOMO) and security software specialist NQ Mobile (NYSE: NQ). Read Full Post…
Bottom line: NQ Mobile and Qihoo stocks are likely to come under pressure over the next 12 months due to ongoing questions about boardroom stability and aggressive accounting practices.
Qihoo independent board member resigns
“Scandal” seems to be the buzzword in China’s corporate Internet world this week, following the resignations of top officials at 2 of the nation’s leading security software makers, NQ Mobile (NYSE: NQ) and Qihoo (NYSE: QIHU). The former case looks the most serious, with NQ’s Chairman and co-CEO Henry Lin, also known as Lin Yu, resigning for murky reasons. Meantime, another one of Qihoo’s independent board members has resigned, following similar departures earlier this year, suggesting disagreement over aggressive accounting practices favored by the company’s opinionated CEO Zhou Hongyi. Read Full Post…
The following press releases and media reports about Chinese companies were carried on December 12. To view a full article or story, click on the link next to the headline.
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Momo (Nasdaq: MOMO) Shares Shrug Off Allegations Against CEO In Debut (English article)
NQ Mobile (NYSE: NQ) Announces Resignation Of Chairman, Co-CEO Lin (PRNewswire)
Xiaomi Accused Of Copying Air Purifier Design From Japanese Firm (Chinese article)
Sony’s (Tokyo: 6753) PlayStation To Make China Debut Next Month (English article)
Baidu (Nasdaq: BIDU) Invests In Uber – Source (English article)
The following press releases and media reports about Chinese companies were carried on August 16-18. To view a full article or story, click on the link next to the headline.
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US Approves Sale Of IBM (NYSE: IBM) x86 Server Unit To Lenovo (HKEx: 992) (Businesswire)
Apple (Nasdaq: AAPL) Begins Storing Users’ Personal Data On Servers In China (English article)
It’s now been 3 years since a series of accounting scandals toppled a handful of overseas-listed Chinese high-flyers, starting with a financial services company called Longtop. The scandals were sparked by opportunistic short sellers, who launched a steady stream of similar assaults highlighting the aggressive accounting practices at many Chinese companies. But after Longtop and 1 or 2 other big names fell, all major companies managed to repel the attacks and get on with business. Now some investors might be wondering if another major player may be set to fall, following new ominous signs coming from embattled security software maker NQ Mobile (NYSE: NQ). Read Full Post…
The following press releases and media reports about Chinese companies were carried on July 5-7. To view a full article or story, click on the link next to the headline.
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NQ Mobile (NYSE: NQ) Sinks 32 Pct As Audit Panel Heads Resigns (English article)
US ‘Concerned’ About Being Barred From GSK-linked (London: GSK) China Trial (English article)
Facebook (Nasdaq: FB) Leases 800 Square Meter Office In Beijing Central Business District (Chinese article)
China Approves Lenovo (HKEx: 992), IBM (NYSE: IBM) $2.3 Bln Server Deal (English article)
QVOD Abandons Old Address, Registers Under New Name (Chinese article)
The following press releases and media reports about Chinese companies were carried on June 12. To view a full article or story, click on the link next to the headline.
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China Mobile (HKEx: 941) Targets 100 Mln 4G Terminal Sales This Year – Chmn (Chinese article)
The following press releases and media reports about Chinese companies were carried on June 5. To view a full article or story, click on the link next to the headline.
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Lenovo (HKEx: 992), IBM Said to Seek Extension in U.S. Review of Deal (English article)
Trina Solar (NYSE: TSL) Announces Offering Of $150 Mln In Convertible Notes (PRNewswire)
Tencent (HKEx: 700) in Talks to Acquire Lottery Firm LotySynergy (HKEx: 1371) (English article)
As IPO Nears, Alibaba Preps Employees For $40 Bln Windfall (English article)
NQ Mobile (NYSE: NQ) Probe Turns Up No Problems After Short Seller Attack (Chinese article)
A half year after a scathing short-seller attack decimated its stock, security software maker NQ Mobile (NYSE: NQ) is still trying to convince the world that it’s a serious company by boosting its revenue guidance and announcing a strategic tie-up for one of its US subsidiaries. Unfortunately, investors didn’t seem too impressed by the 2 pieces of upbeat news, though NQ shares did stage a modest rally after the announcements. That rally was what initially attracted my attention — until I realized that the company’s shares are now trading even lower than they were after the original massive sell-off following the short-seller attack last November. Read Full Post…
The following press releases and media reports about Chinese companies were carried on May 31-June 3. To view a full article or story, click on the link next to the headline.
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Dutch Pension Fund APG Invests Up To $650 mln In China Warehouse Firm (English article)
Web Cleanup Expands With Investigation Of 14 Mobile Game Firms (Chinese article)
China Telecom (HKEx: 728) 2014 4G Capex to Reach 40 Bln Yuan (English article)
