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Former high-flyer Qunar is quickly discovering the risks of using third-party agents to provide many of its travel services, as many of those agents are suddenly leaving the platform in a mass uprising. The revolt in many ways looks similar to what happened 2 years ago to e-commerce leader Alibaba, which saw a similar uprising of smaller third-party merchants on one of its B2C e-commerce platforms after changing some of its pricing policies. Read Full Post…
The following press releases and media reports about Chinese companies were carried on February 20. To view a full article or story, click on the link next to the headline.
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When is a 24 percent drop in net profit a good thing? The answer to that question should usually be “never”, but in the case of online travel agent Ctrip (Nasdaq: CTRP), the company’s latest drop in quarterly profit appears to be encouraging investors that a recent round of price wars in the sector is starting to ease. That would be good news not only for Ctrip, but also for rivals like eLong (Nasdaq: LONG) and up-and-comers like Baidu-invested (Nasdaq: BIDU) Qunar, which have been engaged in a stiff battle for market share for much of the last year.
The following press releases and media reports about Chinese companies were carried on February 1. To view a full article or story, click on the link next to the headline.
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Three of China’s leading tech companies have just posted results, with online travel services firm Ctrip (Nasdaq: CTRP), chip maker SMIC (HKEx: 981) and web portal Sohu (Nasdaq: SOHU) all providing reports with very mixed messages. But perhaps most interesting is the fact that shares for all 3 firms rallied sharply in response to the reports, in the latest sign that investors may finally be ready to return to this battered group of companies that has suffered for nearly 2 years due to a series of accounting scandals. If that’s the case, we could perhaps be looking at a nice rally for shares of many firms, especially some of the sector leaders, and we could also see a flurry of new IPOs following a hiatus of more than a year.
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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The following press releases and media reports about Chinese companies were carried on September 26. To view a full article or story, click on the link next to the headline.
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The latest news bits indicate the video sharing unit of web portal Sohu (Nasdaq: SOHU) and online travel services firm Qunar are both marching rapidly towards overseas IPOs, with both companies positioning themselves to move quickly if and when the current market freeze ever eases. Sohu has been saying for much of the last year that it wants to spin off its video unit into a stand-alone company for an eventual overseas listing, and now the company has formally separated the unit’s sales force into a separate entity. (Chinese article) Meantime, domestic media are also quoting a top executive of Qunar, which is backed by online search leader Baidu (Nasdaq: BIDU), as saying his company has passed industry leader Ctrip (Nasdaq: CTRP) in air ticket sales, in what sounds like a drive to raise the company’s profile in the run-up to its own IPO. (English article; Chinese article)
The following press releases and media reports about Chinese companies were carried on September 22-24. 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 September 20. To view a full article or story, click on the link next to the headline.
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When future historians look at the early days of the China Internet, Jingdong Mall will probably be remembered as a sort of hyperactive organism that had too much money and tried to do too many things, wreaking havoc on the entire web community in the process. That’s my latest assessment of this hyperactive e-commerce giant, which also calls itself 360Buy, following the latest reports that Jingdong now plans to get into the online games business. (English article; Chinese article)
