Two US high-flyers that have relied heavily on the China story to fuel their growth are suddenly going into proactive mode, with KFC’s parent Yum (NYSE: YUM) and personal care products maker Herbalife (NYSE: HLF) both taking new steps to avoid repeats of previous recent disasters. In the former case, Yum has said that so far it sees no signs of declining business at its China KFC stores as we head into the height of the current bird flu season. Meantime, Herbalife is trumpeting its receipt of a quality designation for its products in Taiwan, as it seeks to avoid repeating a disaster at rival Nu Skin (NYSE: NUS) in China last month. Read Full Post…
The following press releases and media reports about Chinese companies were carried on February 2-7. To view a full article or story, click on the link next to the headline.
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The following press releases and media reports about Chinese companies were carried on October 9. To view a full article or story, click on the link next to the headline.
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Yum (NYSE: YUM) Warns China Sales Unlikely To Rise In Q4 (English article)
58.com Turns Profitable Before IPO As Advertising Expenses Fall (Chinese article)
Qihoo 360 (NYSE: QIHU), Sogou Search Traffic Share Up in September (English article)
Ford (NYSE: F) Comes From Behind In China To Stun Japanese Rivals (English article)
AgBank (HKEx: 1288) Gets Approval For Frankfurt Branch (HKEx announcement)
Traditional retailers are taking a hit recently, with fast-food operator KFC and sporting goods seller Li Ning (HKEx: 2331) the latest to report disappointing results due to a complex series of factors. KFC is suffering from a number of company specific issues, combined with residual effects from China’s slowing economy and fallout from a bird flu outbreak earlier in the year. The picture looks more grim for Li Ning and other traditional non-restaurant retailers, which are fighting a losing battle against fast-rising e-commerce firms. Read Full Post…
The following press releases and media reports about Chinese companies were carried on August 13. To view a full article or story, click on the link next to the headline.
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Sina (Nasdaq: SINA) Reports Q2 Financial Results (PRNewswire)
ZTE (HKEx: 763) To Sell ZTE Open Firefox OS Phone on eBay US and UK (Businesswire)
Alibaba’s Taobao Bans Externally Linked QR Codes (English article)
500wan.com Chooses Deutsche Bank, Stifel For $150 Mln New York IPO (Chinese article)
Yum’s (NYSE :YUM) July China Restaurant Sales Drop More Than Expected (English article)
The following press releases and media reports about Chinese companies were carried on July 23. To view a full article or story, click on the link next to the headline.
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KFC (NYSE: YUM) Ice Cubes Found Dirtier Than Toilet Water (English article)
Glaxo (London: GSK) Says Executives Appear To Have Broken Chinese Law (English article)
TAL Education (NYSE: XRS) Announces Unaudited Fiscal Q1 Results (PRNewswire)
An interesting new Chinese media report is questioning whether US fast food giant Yum (NYSE: YUM) is spoiling the Little Sheep chain of hot pot restaurants it acquired just a year ago. The numbers released by Yum certainly don’t look very so-so, and comments by an unnamed restaurant official don’t paint a very rosy picture either for Little Sheep under Yum’s management. But it’s probably still too early to say whether this acquisition will be a success, and I would still be willing to bet we’ll see Little Sheep start making some new and exciting moves later this year. Read Full Post…
The following press releases and media reports about Chinese companies were carried on June 6. To view a full article or story, click on the link next to the headline.
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EU To Impose Anti-Dumping Tariffs On Chinese Solar Panels (English article)
Ultrapower Loses Exclusive Rights To China Mobile’s (HKEx: 941) Fetion (Chinese article)
China Opens Anti-Dumping Probe Into EU Wines (Chinese article)
Little Sheep Brings Hollow Returns For Yum (NYSE: YUM) 1 Year Later (Chinese article)
Snowball Finance Completes $10 Mln In B Round Funding (Chinese article)
Embattled hoteliers and restaurant operators whose business has been hit by China’s H7N9 bird flu outbreak are finally getting some relief with Shanghai’s formal cancellation of its bird flu emergency after the city went 3 weeks without any new cases. (English article) But companies could continue to feel the fallout from the scare for at least the next few months, with by Yum’s (NYSE: YUM) KFC perhaps the most vulnerable to longer term damage. Read Full Post…
The following press releases and media reports about Chinese companies were carried on May 11-13. To view a full article or story, click on the link next to the headline.
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Alibaba To Invest $294 Mln In Mapping Firm AutoNavi (Nasdaq: AMAP) (English article)
Hyundai Motor (Seoul: 005380) Mulls 4th China Plant: Vice Chmn (English article)
CSRC Approves Citic Securities (HKEx: 6030) To Issue 20 Bln Yuan in Bonds (HKEx announcement)
Apple (Nasdaq: AAPL) Building 4th Retail Store in Beijing – Source (English article)
Yum (NYSE: YUM) April Same-Store Sales Fall 29 Pct in China (English article)
Mutton scandal gives Yum’s Little Sheep indigestion
As if its problems weren’t bad enough in China, global fast food giant Yum (NYSE: YUM) is getting a new round of indigestion in its most profitable market from a new food safety scandal that gets my personal award for “grossest” scandal of the year. China followers will know I’m talking about the latest revelations that some unscrupulous food processors illegally treated meat from dead foxes and minks to look like mutton, and then sold the product to unsuspecting restaurants. Read Full Post…
