A week after shares of Internet portal Sohu (Nasdaq: SOHU) went on a roller coaster ride on rumors of a de-listing plan that the company later denied, we’re getting word that drug maker Simcere Pharmaceutical (NYSE: SCR) is launching the latest privatization plan by a US-listed Chinese firm. In related news, media are also reporting that online game operator The9 (Nasdaq: NCTY) is also considering such a plan. But red-hot e-commerce firm Vipshop (NYSE: VIPS) is moving in the opposite direction, announcing a plan to sell more shares to raise up to $180 million. These very different tales show that overseas investors have become quite choosy toward Chinese companies in the current climate, richly rewarding a few fast-growth players while largely ignoring most others.
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Portals: Sohu Stays Public, Weibo Unwanted 搜狐否认私有化传言 淘宝试水微信搜索
A couple of interesting news bits are coming from the Internet portal space, where a perennially underappreciated Sohu (Nasdaq: SOHU) is denying reports of a plan to go private, as other separate reports indicate that Sina’s (Nasdaq: SINA) stalled talks for a tie-up with e-commerce leader Alibaba may be dead. Both developments underscore how difficult it is to do deals in the current climate, where many top company executives can’t agree on valuations and owners often believe their assets are worth much more than others in the market might agree with.
Suning Joins Reorganization Crowd 苏宁重组以赢得投资者信心
I recently wrote that 2013 could well become the year of the reorganization for China’s vibrant Internet sector, as many of the nation’s top companies look to make their increasingly complex operations more efficient. (previous post) Now another major player has joined this growing trend with the announcement of yet another major overhaul by Suning (Shenzhen: 002024), operator of one of China’s top e-commerce sites. The Suning announcement follows similar moves by just about every one of China’s Internet sector leaders, including online game and SNS giant Tencent (HKEx: 700), dominant search engine Baidu (Nasdaq: BIDU), e-commerce leader Alibaba and top portal operator Sina (Nasdaq: SINA).
Jingdong Raises Funds As IPO Looms 京东商城最新融资或为IPO前奏
China’s second largest e-commerce site Jingdong Mall may not be good at making profits, but its latest round of mega fund-raising shows it’s become quite adept at convincing wealthy investors of its longer-term viability. Equally important, this latest round of $400 million in new fund raising means Jingdong may still be eying an IPO in the near term, reviving a plan that it launched last year but later abandoned due to a weak market. It would most likely want to make the offering sooner rather than later, since archrival and market leader Alibaba may also looking to make its own multibillion-dollar offering later this year if market conditions remain positive.
News Digest: December 27 报摘： 2012年12月27日
The following press releases and media reports about Chinese companies were carried on December 27. To view a full article or story, click on the link next to the headline.
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- Sina (Nasdaq: SINA) Denies Alibaba to Invest in Weibo Rumor (Chinese article)
- NDRC to Probe Authenticity of E-Commerce Promotions During Chinese New Year (Chinese article)
- Jingdong Mall CTO Resigns (English article)
- Renren (NYSE: RENN) Announces Renewal of Share Repurchase Program (PRNewswire)
- 55tuan Says Achieved Profit in December at Millions of Yuan Level (Chinese article)
Weibo, WeChat Set For 2013 Showdown 微博、微信将于2013年决战
An epic battle on the Chinese Internet is shaping up for the New Year, pitting dominant social networking site (SNS) Sina (Nasdaq: SINA) Weibo against up-and-coming challenger WeChat, also known by its Chinese name Weixin. The looming battle in many ways reflects the rapid rise in China of the mobile Internet, where WeChat has found an eager new audience that likes to use SNS all the time instead of only at desktop computers where Sina Weibo dominates.
Xiaomi, Nokia In New Web Tie-Ups 小米和诺基亚触网或只是营销噱头
A couple of tie-ups from the hot smartphone space are making headlines these last few days, with up-and-comer Xiaomi and fast-fading global giant Nokia (Helsinki: NOK1V) both looking to Internet partners to boost their prospects. The first of the tie-ups will see Xioami partner with leading Internet portal Sina (Nasdaq: SINA) to sell Xiaomi’s second-generation smartphones online. Meantime, Nokia is tying up with Jingdong Mall, China’s second largest e-commerce firm, in a bid to reverse its downward slide in the world’s largest mobile market.
Google Quits E-Commerce, Jingdong 谷歌关闭中国购物搜索 京东投资云计算
Several e-commerce items are in the headlines today, including Google’s (Nasdaq: GOOG) latest retreat in China as it shutters its Chinese online shopping search service. At the same time, domestic players Jingdong Mall and Suning are continuing their aggressive expansion, with the former pouring big new money into cloud-based services as the latter launches a major initiative based in its new chain of brick-and-mortar superstores. The common theme to all of these news bits is that e-commerce remains an incredibly competitive business in China, and is likely to remain that way for at least the next year or 2 until cash-rich companies fighting for supremacy in the space finally tire of losing massive amounts of money.
IPOs: New Noise From Xunlei, Jingdong 迅雷看看、京东商城或明年上市
New noises are coming from online video site Xunlei and e-commerce giant Jingdong Mall that indicate a US or Hong Kong IPO or other equity sale may be coming soon, as each looks for new cash to fund its money-losing operations. But that said, the latest signals from these 2 Internet companies indicate that neither will be able to tap a rare window in the offshore IPO market that appeared last week when commercially-focused social networking site YY (Nasdaq: YY) made the first successful public offering by a Chinese firm in New York in more than a year. (previous post)
Sohu: China’s Biggest Little Net Firm 搜狗拟分拆上市
I had to smile this morning when I read the latest reports on Sohu (Nasdaq: SOHU), one of China’s oldest web firms, which I’m officially christening as “China’s biggest little Internet company” following word that it plans to make an IPO for its Sogou search engine. If readers note some sarcasm in my tone, it’s certainly there. But at the same time, I do have a certain level of fascination with this company, which seems determined to spin off as many of its units as possible into separate publicly listed companies.
Fund Raising: Maps, Milk and Vancl 丁丁网与华夏畜牧获得新融资 凡客或很快赴美上市
A flurry of fund-raising news is making the headlines today, showing that private equity and venture capitalists are still hard at work investing in China, even as many of their traditional favorites in the overheated Internet space are getting the cold shoulder. At the same time, the inevitable has finally happened with the first concrete report that cash-challenged clothing retailer Vancl has re-started its long-delayed IPO process, with an aim of making a public listing in New York potentially by the end of this year.
