The following press releases and media reports about Chinese companies were carried on December 13-15. To view a full article or story, click on the link next to the headline.
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Tesla’s (Nasdaq: TSLA) China President Resigns After Less Than 9 Months (English article)
BAIC Motor, Investors Said Poised To Raise $1.4 Bln In IPO (English article)
Tencent-Backed (HKEx: 700) Private Bank Approved To Begin Business (Chinese article)
Xiaomi Issues Statement Confirming Sales Suspension In India (Chinese article)
Ctrip To Spend $15 Mln To Boost 3 Pct Stake In Tuniu (Nasdaq: TOUR) – Source (Chinese article)
The following press releases and media reports about Chinese companies were carried on November 8-10. To view a full article or story, click on the link next to the headline.
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Chinese Social Networking Service Momo Files For $300 Mln IPO (English article)
GCL-Poly (HKEx: 3800) Approves Plan To Buy 30 Pct Of Struggling Chaori Solar (English article)
Bottom line: Bureaucracy at the homeowner level is providing a major obstacle to China’s ambitious new energy vehicle build-up plan, with new government directives unlikely to fix the problem.
Building bureaucracy blocks EV charge
A new report is showing just why new energy vehicles are failing to gain any traction among Chinese consumers, despite huge government efforts to promote the technology. The main culprit in this case is the country’s huge bureaucracy, which affects everything from the largest government programs all the way down to something as simple as installing a vehicle charger in an apartment building.
In most western cities, the installation of an electric vehicle (EV) charger at a person’s home would be a simple matter, involving a visit from a specialist to hook up the proper equipment. Apartments could be slightly more complex though still manageable, since they would involve modifications at collectively owned buildings. But in China, where most people live in apartments, the bureaucracy of installing chargers in such buildings rises to a whole new level, creating a major obstacle that’s unlikely to go away anytime soon. Read Full Post…
The following press releases and media reports about Chinese companies were carried on October 21. To view a full article or story, click on the link next to the headline.
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China’s M&A Watchdog Halves Time Taken To Approve Deals (English article)
Apple (Nasdaq: AAPL) In Talks With UnionPay, Other For Apple Pay In China (Chinese article)
China Mobile (HKEx: 941) Reports Results For First 3 Quarters (HKEx announcement)
Tesla (Nasdaq: TSLA) Tries Tmall, To Take Part In Single’s Day Promotion (Chinese article)
SanPower Group Acquires Group Buying Site LaShou (Chinese article)
Senior and mid-level executives from a wide range of Chinese tech firms were on the move this past week, crossing the Pacific to tour some of the top US tech names in Silicon Valley. Stops on the tour, co-organized by a Chinese outfit with the colorful name of Geek Park, included such Internet giants as Google (Nasdaq: GOOG), Twitter (NYSE: TWTR), as well as newer companies like Airbnb and Pinterest, and electric car powerhouse Tesla (Nasdaq: TSLA). But certainly the biggest and most intriguing stop on this Silicon Valley tech tour was a visit to the global headquarters of Facebook (Nasdaq: FB), which also happens to be in the process of opening a China office. Read Full Post…
Despite disappointing progress in China’s plan to put hundreds of thousands of new energy vehicles on its roads by next year, American electric car maker Tesla (Nasdaq: TSLA) has made remarkable progress despite its late arrival to the market. The company has won its strong initial results though a smart combination of savvy marketing and initiatives to encourage building of necessary infrastructure to support its buyers.
The latest of those initiatives saw Tesla last week announce a partnership with Unicom (HKEx: 762; NYSE: CHU), China’s second largest mobile carrier, to install charging stations at hundreds of Unicom outlets nationwide. (English article) As a result of these and other efforts, Tesla has been the lone player so far to succeed in China’s broader consumer market, an area that will be critical to achieving Beijing’s goals. Read Full Post…
The following press releases and media reports about Chinese companies were carried on August 6. To view a full article or story, click on the link next to the headline.
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WH Group (HKEx: 288) Gains as Biggest Pork Producer Debuts in Hong Kong (English article)
Luxury Car Makers Under Anti-Monopoly Investigation (Chinese article)
Tesla’s (Nasdaq: TSLA) China Trademark Dispute Ends As 2 Sides Reach Agreement (Chinese article)
After zooming into China with a slick publicity campaign earlier this year, electric car superstar Tesla (Nasdaq: TSLA) has run into a major new roadblock in one of its most promising markets over a trademark dispute. Tesla thought it had settled a matter that jumped into the headlines last summer as it was preparing to formally move into China. But apparently the trademark squatter who purchased the Tesla names in English and Chinese wasn’t satisfied, and has formally sued the company. Based on past cases, this one could be costly for Tesla, forcing it to pay tens or even hundreds of millions of dollars if it wants to reclaim its name in China. Read Full Post…
The following press releases and media reports about Chinese companies were carried on July 9. To view a full article or story, click on the link next to the headline.
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Car Maker Tesla (Nasdaq: TSLA) Sued In China For Trademark Infringement (English article)
SouFun (NYSE: SFUN) Tumbles In New York On Commission Concerns (English article)
China Says GSK-Linked (London: GSK) Trial Being Handled According To Law (English article)
A couple of headlines are spotlighting the ongoing woes of 2 groups in China’s auto sector, with domestic brands and new energy vehicle makers both showing signs of difficulty. In the former category, reports that former domestic high-flyer Chery is closing one of its biggest Beijing dealerships spotlight the broader woes of domestic car brands that are losing share to better-run foreign rivals. In the latter category, another media report is showing that new energy vehicle sales were largely insignificant in the first 4 months of the year, even though they did notch major gains over 2013. Read Full Post…
E-commerce leader Alibaba has always been a very active headline grabber, but these days its penchant for making news is getting a bit out of control, reflecting an M&A strategy that also looks increasingly overcharged and lacking focus. One might compare Alibaba these days to a creature that has suddenly developed a huge appetite and is devouring everything in sight. That’s my assessment today based on the company’s involvement in 3 major headlines, one involving web browsers, another electric cars, and a third that’s actually related to its core e-commerce services.
