The following press releases and news reports about China companies were carried on September 2. To view a full article or story, click on the link next to the headline.
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Starbucks (Nasdaq: SBUX) Launches Teavana Brand in China (English article)
China Approves NXP (Nasdaq: NXP) Sale of Standard Products Unit to Chinese Group (GlobeNewswire)
Over 80 Pct of Merchants in the US Accept UnionPay Credit Cards (Press release)
58.com (Nasdaq: WUBA) Rolls Out Long Work Day, Overtime Plan, Workers Quit (Chinese article)
JPMorgan (NYSE: JPM) Gets Wholly-Owned Asset Management License in China (English article)
The following press releases and news reports about China companies were carried on September 1. To view a full article or story, click on the link next to the headline.
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The following press releases and news reports about China companies were carried on August 31. To view a full article or story, click on the link next to the headline.
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China’s Big Banks Set for Hard Slog as Margins Shrink (English article)
Midea (Shenzhen: 000333) H1 Profit up 13 Pct, Gets US Clearance for Kuka Buy (Chinese article)
Bottom line: Wanda’s recent steam of announcements for multibillion dollar deals, including the latest for a $10 billion entertainment complex in Shandong, are mostly hype, and many will never get completed.
Wanda announces new multibillion-dollar project in Shandong
It used to be that I would get quite excited on seeing the word “billion” when used in connection with new investments, since such major sums are relatively rare. But these days the word is becoming almost a cliche in China, and one of the most egregious abusers of the figure is real estate and aspiring entertainment giant Wanda Group. True to that tendency, Wanda and its increasingly chatty chief Wang Jianlin have just announced yet another multibillion-dollar investment, this time for an entertainment complex in the industrial city of Jinan in eastern China’s Shandong province. Read Full Post…
The following press releases and news reports about China companies were carried on August 27-29. To view a full article or story, click on the link next to the headline.
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Wanda Agrees to Build $9.5 Bln Culture Project in China (English article)
Bottom line: Weakening sentiment towards Postal Bank’s IPO reflects concerns about China’s economic slowdown, while Lufax’s choice of Hong Kong for its IPO should help to attract more international investors.
Lufax IPO bound for HK
What’s likely to be this year’s biggest IPO by Postal Savings Bank of China is limping ahead, with word the ultra-conservative lender is set to sign up $6 billion in commitments for its Hong Kong offering. But western investors are reportedly staying away from the deal, worried over high valuations and China’s sputtering economy.
Meantime, another financial IPO by leading P2P lender Lufax is back in the headlines, with word the listing probably won’t happen until next year and will occur in Hong Kong. That news marks a flip-flop from reports earlier this week, when media cited Lufax’s largest backer saying plans were still on track for an IPO this year, with Shanghai as the preferred listing location.Read Full Post…
The following press releases and news reports about China companies were carried on August 25. To view a full article or story, click on the link next to the headline.
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Sale of China McDonald’s (NYSE: MCD) Restaurants Down to 2 Bidders – Source (Chinese article)
China’s Postal Bank to Get $6 Bln in Investor Commitments for HK IPO: Sources (English article)
Yintech (Nasadaq: YIN) to Pay $193 Mln for Online Spot Commodity Trading Platform (GlobeNewswire)
Bottom line: Wanda Group is making an aggressive bid to be selected for a $1 billion strategic investment in Paramount, but the bid is likely to fail due to objections by the studio’s controlling shareholder.
Wanda’s Paramount bid likely to fail
New comments from China’s richest man indicate he is aggressively bidding for a stake in leading US film studio Paramount, which was put up for sale earlier this year as its parent sought to find a strategic investor. But separate reports last week show that such a deal could face difficulty due to objections by Sumner Redstone, who controls Paramount parent Viacom (Nasdaq: VIAB).
Redstone and Viacom’s current CEO Philippe Dauman have been locked in a battle for control of the company, but a resolution of that feud now appears to be close. Unfortunately for Wanda, that resolution would see a departure from Viacom by Dauman, the main proponent of the Paramount stake sale plan. That would leave Redstone, who was cool on such a plan, with the final rights to approve or veto a stake sale. Read Full Post…
The following press releases and news reports about China companies were carried on August 24. To view a full article or story, click on the link next to the headline.
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Wanda’s Wang Says Set to Seal Two Billion-Dollar US Film Deals (English article)
Alibaba Pictures (HKEx: 1060) in 100 Mln Yuan Deal for Hangzhou Cinema Operator (Chinese article)
Trina Solar (NYSE: TSL) Announces Q2 Results (PRNewswire)
China Foods Mulls Sale of Mainland Coca-Cola (NYSE: KO) Bottling Stakes (English article)
Sky-mobi (Nasdaq: MOBI) Enters into Agreement for Going Private Transaction (GlobeNewswire)
The following press releases and news reports about China companies were carried on August 23. To view a full article or story, click on the link next to the headline.
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Yahoo (Nasdaq: YHOO) Ad Partner Media.net Sells to China Group for $900 Mln (English article)
Tencent (HKEx: 700) Closes More than 35,000 WeChat, QQ Accounts with Gambling Links (Chinese article)
China Selfie App Meitu Aims to Raise up to $1 Bln in HK IPO (English article)
US Clearance of ChemChina’s Syngenta Deal Removes Key Hurdle (English article)
LeEco (Shenzhen: 300104) Finally Solves TV Licensing Issue After 2 Years in Limbo (Chinese article)
The following press releases and news reports about China companies were carried on August 16. To view a full article or story, click on the link next to the headline.
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Top 3 China Smartphone Vendors Get Combined 47 Pct Market Share in Q2 – IDC (press release)
Tesla (Nasdaq: TSLA) Removes ‘Autopilot’ From China Website After Beijing Crash (English article)
Direct Broadcasting Platform Douyu Raises 1.5 Bln Yuan in Series C Funding (Chinese article)
Bulls and Bears Collide as Weibo (Nasdaq: WB) Surges to Record (English article)
Didi Chuxing Adds Hired Driver Feature to Platform (Chinese article)
