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Tag Archives: Vancl
VANCL in China
VANCL Chinese E-Commerce companies latest Business & Financial news from Doug Young, the Expert on Chinese startups, (former Journalist and Chief editor at Reuters)
Baidu reportedly near deal to buy Zongheng literature site
Internet stalwarts Baidu (Nasdaq: BIDU) and Sohu (Nasdaq: SOHU) are back in the M&A headlines with news of relatively small acquisitions, indicating the market may be running out of big targets as we prepare to end a landmark year for major deals in China. I’ve been reporting on Chinese Internet companies for more than a decade, and during most of that time would be lucky to see 1 or 2 major acquisitions or equity tie-ups in any single year. But all that changed this year, with top Internet names like Baidu, Alibaba and Tencent (HKEx: 700) emerging as major buyers in a series of deals collectively valued at billions of dollars. Read Full Post…
There’s a flurry of news in the fund-raising realm, led by word that online lottery company 500.com has sharply cut the size of its upcoming New York IPO following recent successful trading debuts for 2 other companies. At the same time, struggling online clothing seller Vancl has reportedly raised a new $100 million to keep funding its operations, as it looks for elusive profits. Meantime, Nasdaq-listed chipmaker RDA Microelectronics (Nasdaq: RDA) may be moving in the opposite direction of 500.com, with word that it has received a buyout offer that would see its shares de-listed from the Nasdaq. Read Full Post…
The following press releases and media reports about Chinese companies were carried on November 9-11. To view a full article or story, click on the link next to the headline.
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Cinda Hong Kong IPO To Test Investor Appetite For China’s Bad Debt (English article)
Microsoft (Nasdaq: MSFT) to Take Over China Skype Operation From Tom (English article)
500.com Sets IPO Price Range At $9-$11 per ADS (Chinese article)
Holder Of Tesla (Nasdaq: TSLA) Name In China Wants $30 Mln For Trademark (Chinese article)
Vancl Raises Another $100 Mln In Quest To Regain Lost Glory (Chinese article)
High-flying smartphone maker Xiaomi is at the center of 2 recent strings of microblog posts, one touching on an interesting new connection with Facebook (Nasdaq: FB) and the other hinting at an increasingly cozy relationship with struggling online clothing seller Vancl. Interestingly, Xiaomi’s talkative co-founder and chief executive Lei Jun is largely absent from the dialogue in both cases, which each has sensitive overtones, implying that perhaps we could see more news in the weeks ahead. Read Full Post…
Online apparel retailer Vancl continues to struggle, with media reporting the former e-commerce rising star has fallen into arrears in payments to many of its suppliers, including more than 10 million yuan ($1.6 million) owed to sporting apparel maker Li Ning (HKEx: 2331). The latest reports are citing company chief Chen Nian saying that Vancl experienced its darkest period late last year, and is now on the mend. But if reports of the arrears are true, Vancl’s failure to pay its suppliers could mark the beginning of the end for the company, which has made a number of major adjustments over the past 2 years in a bid to find sustainable long-term profits. Read Full Post…
The following press releases and media reports about Chinese companies were carried on October 15. To view a full article or story, click on the link next to the headline.
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Vancl In Arrears To Suppliers, Owes Li Ning (HKEx: 2331) More Than 10 Mln Yuan (Chinese article)
Baidu (Nasdaq: BIDU) to Acquire Perfect World Literature Unit – Source (English article)
Huawei Hires Former EU Ambassador to China (English article)
GM-Peugeot Setbacks Set Scene For Dongfeng (HKEx: 489) Deal Push (English article)
After Weeks of Deliberation, China Okays ‘Gravity’ for Theaters (English article)
The following press releases and media reports about Chinese companies were carried on August 22. To view a full article or story, click on the link next to the headline.
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New China Trust Pulls Out Of $4.8 Bln AIG Unit Bid: Source (English article)
YiChat Mobile IM Users Reach 1 Mln In First Day Of Launch (English article)
ZTE (HKEx: 763) Forecasts Profit in First 9 Months of 2013 In Earnings Rebound (Businesswire)
Vancl In Talks For $200 Mln New Funding Round (Chinese article)
Suning (Shenzhen: 002024) Applies for Banking License (English article)
When is a modestly successful IPO cause for big celebration? The answer is: When your name is LightInTheBox, and you’ve just completed the first IPO in New York by a Chinese company in a half a year. Not only is LightInTheBox the first major New York IPO by a Chinese firm this year, but it’s also only the third such offering since the beginning of 2012, reflecting the chilly investor climate that has stifled such listings on Wall Street for more than 2 years. Read Full Post…
The following press releases and media reports about Chinese companies were carried on April 23. To view a full article or story, click on the link next to the headline.
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In China, Off-Balance-Sheet Lending Risks Lurk In The Shadows (English article)
Tencent (HKEx: 700) WeChat Cost to Carriers Far Exceeds New Revenue – Wang Jianzhou (Chinese article)
ZTE (HKEx: 763) Strength in Smartphones Delivers Increased Profitability (Businesswire)
Huawei CFO Says Revenue To Grow 10 Pct Annually In Next Few Years (Chinese article)
Media are reporting that online retailers Dangdang (NYSE: DANG) is launching a major overhaul and Vancl is facing issues from its own big retrenchment, as each searches for elusive profits that have become increasingly hard to find in the current cutthroat e-commerce space. In Dangdang’s case, the company is attempting to focus on several key product groups, giving up its previous aim of becoming a general merchandise giant like Amazon (Nasdaq: AMZN). Meantime, online clothing retailer Vancl’s own ongoing slimming exercise has left it so lean that it is reportedly running into logistical problems that are resulting in delayed shipments to some of its customers. All of this reflects just how difficult China’s e-commerce environment has become, with most companies resorting to desperate measures in their bids to conserve cash and become profitable in the ultra-competitive space.
This year will go down as one that most US-listed Chinese companies would like to forget, and now outdoor advertising specialist Focus Media (Nasdaq: FMCN) is giving a suitable send-off for 2012 with word that its plan to privatize and de-list is nearing completion. This latest development followed earlier word that one of the investors planning to provide $200 million to help fund Focus Media’s plan had backed out of the deal due to concerns about inadequate returns. (previous post) Now media are reporting that Focus has just signed the last agreement it will need to complete the deal, which will formally be carried out by a company called Giovanna Acquisition Ltd. (Chinese article)
Media are reporting that online retailers Dangdang (NYSE: DANG) is launching a major overhaul and Vancl is facing issues from its own big retrenchment, as each searches for elusive profits that have become increasingly hard to find in the current cutthroat e-commerce space. In Dangdang’s case, the company is attempting to focus on several key product groups, giving up its previous aim of becoming a general merchandise giant like Amazon (Nasdaq: AMZN). Meantime, online clothing retailer Vancl’s own ongoing slimming exercise has left it so lean that it is reportedly running into logistical problems that are resulting in delayed shipments to some of its customers. All of this reflects just how difficult China’s e-commerce environment has become, with most companies resorting to desperate measures in their bids to conserve cash and become profitable in the ultra-competitive space.
This year will go down as one that most US-listed Chinese companies would like to forget, and now outdoor advertising specialist Focus Media (Nasdaq: FMCN) is giving a suitable send-off for 2012 with word that its plan to privatize and de-list is nearing completion. This latest development followed earlier word that one of the investors planning to provide $200 million to help fund Focus Media’s plan had backed out of the deal due to concerns about inadequate returns. (
