The following press releases and media reports about Chinese companies were carried on July 4. To view a full article or story, click on the link next to the headline.
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China To Try GSK-linked (London: GSK) Investigator In Secret: Family Friends (English article)
Big stock moves for veteran online travel agent eLong (Nasdaq: LONG) and newly listed mobile game firm Ourgame (HKEx: 6899) are shining a spotlight on the need for consolidation in many of China’s online sectors, where these smaller players lack the resources to thrive over the longer term. Shares of eLong suddenly soared more than 20 percent in the latest session on trading volumes not seen for years, which will inevitably lead to speculation of a looming buyout offer. Meantime, Ourgame shares tanked 17 percent on their first trading day in Hong Kong, as investors yawned at the chance to buy into yet another mid-sized Chinese gaming firm. Read Full Post…
Online travel is quickly taking on a new cult-like status among investors, with word of a major new funding for vacation rental site Tujia. This latest fund-raising frenzy in online travel looks very similar to what happened in group buying about 4 years ago, when investors pumped billions of dollars into a wide range of money-losing start-ups. Internet watchers will know that many of those companies later went bust, raising the prospect that a similar fate could be waiting for the online travel sector. Read Full Post…
Two of China’s most dynamic e-commerce firms are in the headlines today with new strategic moves, including JD.com’s purchase of a Russian rival and Vipshop’s (NYSE: VIPS) plans to open a small loan operation. Both of these moves look well conceived, taking their respective companies into new but related areas with big growth potential. The 2 moves come as JD prepares to launch a $1 billion-plus IPO in New York as soon as this week, and as Vipshop looks for acquisitions following a big fund raising exercise earlier this year. Read Full Post…
The following press releases and media reports about Chinese companies were carried on May 20. To view a full article or story, click on the link next to the headline.
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Leading restaurant ratings site Dianping has been making steady headlines these last 3 months, including the latest reports that it’s investing in an app that lets users order and pay for take-away food over their smartphones. The tie-up looks relatively modest and has Dianping investing about 50 million yuan ($8 million) in Dazuiba, whose name means “big mouth” in Chinese. More broadly speaking the deal seems to reflect a few recent trends for Chinese Internet M&A, including the rapid disappearance of attractive targets and a growing preference for strategic investments instead of outright acquisitions. Read Full Post…
We’ll finish out this peak earnings week for US-listed Chinese stocks with a look at fading e-commerce firm Dangdang (NYSE: DANG) and online travel site Qunar (Nasdaq: QUNR), which have both just posted profit trends that look quite gloomy. But while investors forgave the young Qunar for posting a large net loss, they were less generous towards the older Dangdang, whose profits nearly evaporated after recently emerging from 2 years in the red. Read Full Post…
Leading online travel agent Ctrip (Nasdaq: CTRP) is generally regarded as one of China’s best run and most focused Internet companies, which is why new reports that it’s chasing a tie-up with 2 of the nation’s top group buying sites look a bit worrisome. The company is sitting on top of a huge cash pile, worth nearly $2 billion at the last check in March, and is looking increasingly desperate for places to spend the money. It has already been spurned by some of the travel sector’s most likely acquisition targets, which is probably why it’s now looking elsewhere for places to invest its treasure chest. Read Full Post…
The following press releases and media reports about Chinese companies were carried on May 15. To view a full article or story, click on the link next to the headline.
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Chinese Charge British Former Head Of GSK (London: GSK) China With Bribery (English article)
Three industry leaders have just announced their latest quarterly results, and the numbers look downbeat for online travel giant Ctrip (Nasdaq: CTRP) and Internet real estate services firm Soufun (NYSE: SFUN). Meantime, some limited results from solar panel maker Canadian Solar (Nasdaq: CSIQ) look more positive, showing that both sales and prices are picking up more quickly than expected amid a spotty sector recovery from a 2 year downturn. Read Full Post…
The following press releases and media reports about Chinese companies were carried on May 8. To view a full article or story, click on the link next to the headline.
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