Tag Archives: Xinhua

News Digest: December 11 报摘： 2012年12月11日

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The following press releases and media reports about Chinese companies were carried on December 11. To view a full article or story, click on the link next to the headline.
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  • Xinhua Opens Twitter Account, Already Has 5,000 Followers (Chinese article)
  • China Mobile (HKEx: 941) to Dive into E-Commerce – Source (English article)
  • Suntech (NYSE: STP), Siemens Team on 100MW of Solar Projects in South Africa (PRNewswire)
  • E-House (NYSE: EJ) to Issue New Shares to Management, Repurchase Shares (PRNewswire)

SARFT Comments: Media Clampdown Coming? 中国传媒业对外开放要放缓？

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I’ve been writing about China’s media industry long enough now to know that a blossoming love affair with Hollywood might be too much too quickly, and new comments from the TV and film regulator appear to hint that a crackdown or at least a slowdown could be looming for this fast emerging relationship. If it comes, such a crackdown would hardly be a new thing, as China has twice before signaled it was preparing to open its media to foreign investment, only to quickly slam on the brakes after the big foreign players got too aggressive.

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News Digest: July 19, 2012 报摘： 2012年7月19日

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The following press releases and media reports about Chinese companies were carried on July 19. To view a full article or story, click on the link next to the headline.

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  • Yum’s (NYSE: YUM) Profit Disappoints, Hurt By China Costs (English article)
  • ZTE (HKEx: 763) Wins China Mobile Hong Kong TD-LTE Tender (English article)
  • New Oriental (NYSE: EDU) Gains After Refuting Muddy Waters’ Charges (English article)
  • China Mouthpiece Xinhua Reports 5.6 Billion Yuan Revenue in 2011 (English article)

CCTV’s Latest Web Tie-Up: Who Cares? 奇虎联手央视料难成功

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Web software firm Qihoo 360 (NYSE: QIHU), which has recently come under a short seller attack for allegedly inflating its user figures, is trumpeting a new tie-up with the online unit of CCTV, China’s leading TV broadcaster, to jointly create an online video platform — a development that looks great in the headlines but one that leads me to ask a simple question: Who cares? (English article) I’ve previously stated my belief that Qihoo is a company prone to exaggeration, and in all fairness I can’t really blame Qihoo for wanting to hype this latest development, as obviously CCTV is a big name in video content. In fact, my skepticism would be better directed at CCTV, which is trying hard to become more commercial along with other big state-run media giants like Xinhua and People’s Daily, which are both in the process of doing IPOs for their websites in an effort to earn money and become more self sufficient. (previous post) Put quite simply, CCTV and Xinhua have launched a seemingly nonstop stream of similar tie-ups in the last few years with names like China Mobile (HKEx: 941; NYSE: CHL), Tencent (HKEx: 700) and Bloomberg, none of which seems to be particularly successful. The reason for the muted success, and one reason I’d caution investors against getting too excited, is relatively simple: the average Chinese still sees CCTV, Xinhua and People’s Daily largely as propaganda tools of the communist party, and aren’t all that interested in spending their web surfing and mobile browsing time reading or viewing more of their material. What’s more, these mammoth state-run media giants, no matter how hard they try, simply lack the instincts to be true commercial companies as their first priority will always be to propaganda officials and everything else will come second. Qihoo shareholders seem to have liked the news, bidding up the company’s shares 8 percent in Tuesday trading on Wall Street. But I’d caution any excited buyers not to hold out too much hope for this new CCTV tie-up, despite the broadcaster’s big name, and would likewise give a similar warning to any other company that does future similar deals with CCTV or Xinhua. On the other hand, I wouldn’t extend my skepticism to all media companies, and in fact do believe that certain aggressive regional players like Shanghai Media Group and Hunan Broadcasting might make much more interesting media partners.

Bottom line: A new tie-up between Qihoo 360 and CCTV will produce lackluster results, as will similar partnerships involving CCTV, Xinhua and other media outlets with strong central government ties.

Related postings 相关文章:

◙ 360Buy Heats Up E-Books, People’s Daily Goes to Market 京东商城高调进军电子书,人民网开启上市进程

◙ Xinhuanet IPO Sets Stage For Media Listings 新华网IPO或将开启媒体上市热潮

◙ PPLive, Phoenix Video Initiatives Offer News Alternative 凤凰新媒体与PPLive的新尝试

360Buy Heats Up E-Books, People’s Daily Goes to Market 京东商城高调进军电子书,人民网开启上市进程

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E-commerce leaders 360Buy and Dangdang (NYSE: DANG) seem to be locked together in a dangerous dance that has seen them launch one price war after another in their attempts to steal business from each other. Just weeks after Dangdang, which rose to prominence as an online book seller, finally discovered e-books (previous post), 360Buy, which also goes by the name of Jingdong Mall, has launched its own very high profile move into e-books as well, in what’s likely to turn into yet the latest bloody price war between these two companies. (English article; Chinese article) 360Buy has released lots of details about this latest high-profile initiative, saying its online bookstore will launch next month and will include more than 80,000 titles from 200 suppliers. Look for lots of bargains when this new online bookstore comes online, which no doubt will be met with equal bargains from Dangdang, pushing both companies deeper into the red. This latest looming price war, which looks to be quite big, is an appropriate start to 2012, when we can expect to see a major cleanup of China’s unruly e-commerce and group buying spaces where competition has become rampant and many companies are now losing big money. Many companies are likely to close in the cleanup, though I would expect both Dangdang and 360Buy to survive, as the latter chases an IPO to raise $1 billion or more in the US. Speaking of IPOs, domestic media are reporting that People’s Net, the online site of the People’s Daily, the official newspaper of the Communist Party, has started a process to raise around 527 million yuan, or $82 million, through a domestic IPO. (Chinese article) That news comes just 2 weeks after similar reports emerged that another major state-run media, Xinhua, was also planning a $150 million IPO for its website, Xinhuanet. (previous post) IPOs by these 2 big hallmarks of state-run media are a clear signal that China is finally loosening its grip on the sensitive media sector, and we should expect to see a steady stream of major media firms listing some of their assets in the year ahead, including some potentially interesting offerings from other major players like Shanghai Media Group and Southern Media Group.

Bottom line: 2012 is starting with a dramatic new price war between Dangdang and 360Buy in e-books, while an IPO by People’s Daily’s website augers a new wave of media listings.

Related postings 相关文章:

◙ Price Wars Beat Up Online Retailers 网上零售商引爆价格战

◙ Dangdang Discovers E-Books — Finally 当当推电子书仍有成功希望

◙ Xinhuanet IPO Sets Stage For Media Listings 新华网IPO或将开启媒体上市热潮

Xinhuanet IPO Sets Stage For Media Listings 新华网IPO或将开启媒体上市热潮

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There’s an interesting report in the media space that the Xinhua News Agency plans to publicly list its news web site — a development with hugely symbolic overtones that could foreshadow a long-awaited liberalization in this highly sensitive sector and portend a major new round of IPOs for big media firms. Foreign media are citing unnamed sources saying that Xinhua is planning a domestic listing for its news portal, Xinhuanet, in a deal that would see it raise around 1 billion yuan, or more than $150 million. (English article) The size of the offering is really of little or no significance since Xinhua, as the Communist Party’s main mouthpiece, already receives most of its funding from the government and is unlikely to need such funds. What’s much more important is that Xinhua is making this IPO at all, as ownership of the media, which has the power to influence public opinion, has been a highly sensitive matter in the past, even as most other sectors were allowed to make public offerings paving the way for private ownership. This move by Xinhua, if it really happens, would send an important signal to China’s other major media groups, including CCTV, Shanghai Media Group and other major players, that it’s ok for them to list some of their major assets, paving the way for an interesting new round of possibilities for investors with huge growth potential. Such a development would, in fact, extend a recent trend that has seen a growing number of movie and TV show makers, many of them owned by regional media companies, make a string of low-key public offerings as they hope to tap emerging demand from not only traditional TV stations, but also an fast-rising group of content-hungry video sharing websites like Youku (NYSE: YOKU), Tudou (Nasdaq: TUDO), Sohu (Nasdaq: SOHU) and PPLive. (previous post) Xinhua, as one of China’s oldest media, already sets the tone for the rest of the nation’s TV stations, newspapers and websites in terms of news coverage, and this latest move would indicate that public ownership of the media is ok, at least on domestic stock markets. The timing of a Xinhuanet listing is still unclear, meaning it could still be months or years away. But if and when such a listing occurs, look for many more to follow as a wide range of regional and local media groups clamor to raise funds to expand their national reach.

Bottom line: A pendiing IPO for Xinhua’s web portal could auger a flood of new domestic listings for big Chinese media firms, providing an interesting investment option with strong growth potential.

Related postings 相关文章:

◙ Jishi the Latest in Low-Key Media Listing Parade 吉视传媒加入中国媒体低调上市大军

◙ 2011: A Breakthrough Year in Copyright Protection 2011年：中国版权保护取得突破的一年

◙ Video Makers On Cusp of Renaissance 视频制作商或迎来美好时代

News Digest: December 24-27, 2011

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The following press releases and media reports about Chinese companies were carried on December 24-27. To view a full article or story, click on the link next to the headline.

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◙ Sina (Nasdaq: SINA) Weibo Accepts US$200 Mln Digital Sky Investment – Source (English article)

◙ Xinhua Website Planning $158 Million IPO: Sources (English article)

◙ Foxconn (Taipei: 2354) Solar-Module Entry May Cut Margins for Chinese Makers (English article)

◙ Sinopec (HKEx: 386) Completes Purchase of Canada’s Daylight Energy (Toronto: DAY) (English article)

◙ Xunlei to Sue Youku (NYSE: YOKU) for IPR Infringement (English article)

PPLive, Phoenix Video Initiatives Offer News Alternative 凤凰新媒体与PPLive的新尝试

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Two of China’s up-and-coming Internet firms, video sharing site PPLive and new media site Phoenix New Media (NYSE: FENG) are getting bold in their bid to attract more viewers by offering news and current affairs programs in a quiet but clear challenge to Beijing’s state-run media establishment. In the most recent development, Chinese media are reporting that PPLive, one of the country’s hottest video sites and a frequently mentioned IPO candidate, has formed a tie-up with Xinhuanet, the online arm of the state-run Xinhua news agency, to create a joint venture to produce short news segments for streaming online. (English article; Chinese article) That news comes just a week after Phoenix New Media said it has launched its own online current affairs program (company announcement) on its online site. Both initiatives are part of a broader trend that has also seen video sharing leader Youku (NYSE: YOKU) also announce development of its own original programming in recent weeks. (previous post) This latest gamble looks very calculated and is also a smart move by both PPLive and Phoenix, both seeking to top demand for interesting alternatives from viewers tired of watching the same old state-sponsored newsspeak on TV. By choosing the well-connected Xinhua as its partner, PPLive should avoid angering Beijing too much, even as it explores interesting new formats and topics that central propaganda officials might consider inappropriate for mainstream TV. Likewise, Phoenix New Media is also well connected to propaganda officials through its parent, Phoenix Satellite Television (HKEx: 2008), which operates the only privately-owned and quite successful news channel in China. If one or both of these initiatives succeed, which seems likely, look for others like Youku and even Web portals like Sina (Nasdaq: SINA) and Sohu (Nasdaq: SOHU) to follow with similar news video offerings in the months ahead.

Bottom line: New online video news shows by PPLive and Phoenix New Media look like smart moves with a good chance of success, aimed at Chinese consumers looking for more news alternatives.

两家後起的中国互联网公司新秀——视频分享网站PPLive和新媒体网站凤凰新媒体(FENG.N)为吸引更多观众，作风可谓大胆。他们通过提供新闻和时事节目向官方媒体发起了无声但明确的挑战。最近有中国媒体报导称，PPLive计划与新华网络电视台合作成立一家合资公司，制作新闻短片。此前一周，凤凰新媒体表示，公司已在其网站上推出了在线时事节目。视频分享网站优酷网(YOKU.O)最近几周也推出了其原创节目。这些最新举动看起来是精心策划，PPLive和凤凰新媒体的举动也颇为明智，两者都在寻求满足观众多样化的观看需求。PPLive在探索寻找宣传部门可能不适宜主流电视媒体的有趣新模式和话题，与人脉广大的新华社合作，应避免过份激怒中国政府。同样，凤凰新媒体通过凤凰卫视(2008.HK)也与宣传部门的官员保持着良好的关系。如果这些想法获得成功，目前看来成功机会也很大，优酷甚至新浪(SINA.O)、搜狐(SOHU.O)等门户网站也有望在未来数月提供类似的新闻视频节目。

一句话：PPLive和凤凰新媒体提供的新型在线视频新闻看来是明智之举，且成功机率很大，因中国消费者正寻找更多类型的新闻节目。

Related postings 相关文章:

◙ Hulu Makes First Global Stop in Japan, China Next?

◙ Youku’s New Formula: Sponsored Programs 优酷“新配方”：赞助项目

◙ Sina Taps On Back Door Into Tudou 新浪可能收购土豆