Bottom line: Xiaomi’s new smart air purifier looks like a good move to build up its ecosystem of interconnected smart devices, while LeTV’s new EV initiative is more likely a publicity ploy.
China’s entrepreneurial tech firms never miss a good business opportunity, and environmental plays are suddenly the flavor of the day with word of major new pollution-related plays by smartphone sensation Xiaomi and online video firm LeTV (Shenzhen: 300104). Xiaomi has announced it will enter the smart devices space with a new line of air purifiers aimed at consumers tired of breathing polluted Chinese air. Meantime, LeTV has announced its intent to get into the electric vehicle (EV) business, as China opens up that sector to encourage development of more clean technology. Read Full Post…
China’s anti-corruption campaign has accelerated into the private sector over the last few weeks, with shares of sportswear retailer Anta (HKEx: 2020) and online video provider LeTV (Shenzhen: 300104) both tumbling after reports emerged that their top executives might be under investigation for illegal activities. In both cases the worries later appeared to be unfounded, but other signals have indicated the movement is indeed creeping into the private sector. Read Full Post…
The following press releases and media reports about Chinese companies were carried on December 10. To view a full article or story, click on the link next to the headline.
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NetEase (Nasdaq: NTES) Says Momo CEO Was Corrupt While At Company (Chinese article)
Qunar (Nasdaq: QUNR) Forecasts Profit By End Of 2016 (Chinese article)
SouFun (NYSE: SFUN) Terminates Strategic Cooperation With Century 21 China (PRNewswire)
Tencent (HKEx: 700) Doubles 2015 Budget For Literature Subsidiary (English article)
LeTV (Shenzhen: 300104) Seeks License to Make Electric Car (English article)
Bottom line: LeTV stock will rally briefly on relief after the reappearance of its CEO, but will come under pressure again after that on concerns about an ongoing crackdown on private video operators.
LeTV CEO Jia resurfaces in Beijing hospital
After a debilitating few weeks as rumors swirled about the disappearance of its charismatic young CEO Jia Yueting, video platform operator LeTV (Shenzhen: 300104) has come roaring back after Jia gave a series of company updates during an unusual investor meeting from his Beijing hospital room. The relief over Jia’s reappearance helped to turbocharge LeTV’s shares, which jumped by their daily 10 percent limit when they resumed trading on Monday after a suspension of more than a month. The rally continued on Tuesday, helping the stock to gain back all the losses it incurred after reports about Jia’s disappearance first emerged in October. Read Full Post…
The following press releases and media reports about Chinese companies were carried on December 9. To view a full article or story, click on the link next to the headline.
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Facebook’s Zuckerberg, Apple’s Cook Meet China’s Internet Minister In US (English article)
Xunlei (Nasdaq: XNET) Pop-Up Window Service Shut Down For Pornography (Chinese article)
Trina Solar (NYSE: TSL) Acquires 28 Pct Stake In Shuntai Leasing (PRNewswire)
LeTV (Shenzhen: 300104) To Acquire Affiliated Le Vision Pictures (English article)
Game Operator Linekong To Make HK IPO December 19, Raise Up To $190 Mln (Chinese article)
The following press releases and media reports about Chinese companies were carried on December 6-8. To view a full article or story, click on the link next to the headline.
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LeTV (Shenzhen: 300104) Resumes Trading After Clarifying Up 3 Issues (Chinese article)
Anta’s (HKEx: 2020) Fall Shows Fragile Support For China Companies (English article)
Club Med (Paris: CU) Contest Takes New Turn With $1.1 Bln Bonomi Bid (English article)
Game Developer Feiyu Technology Raises HK$570 Mln Yuan in HK IPO (Chinese article)
Fluor (NYSE: FLR) Signs MOU With China National Nuclear Corp (Businesswire)
The following press releases and media reports about Chinese companies were carried on November 26. To view a full article or story, click on the link next to the headline.
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Tencent (HKEx: 700) To Air HBO In China As Govt Shuts Down Free Sites (English article)
Lenovo’s (HKEx: 992) talkative CEO Yang Yuanqing was headline news in the microblogging realm over the past week, as the chatty executive formally launched his own account on Sina Weibo and proceeded to bombard the airwaves with a steady series of thoughts on a wide range of topics. Yang is already quite talkative in general, granting numerous media interviews and giving his thoughts on just about anything to anyone who will listen. So this kind of move isn’t really that surprising, and I expect we’ll hear lots from him in the months and years ahead.
Meantime, executives from the equally talkative Xiaomi were also full of microblogging chatter, touting their latest steal of a high-profile executive from another tech firm. In this case they were congratulating themselves for hiring Chen Tong, one of the earliest top employees at web stalwart Sina (Nasdaq: SINA). A final footnote in this week’s microblogging roundup also saw a teasing tweet from the missing CEO of online video site LeTV (Shenzhen: 300104), amid recent speculation that he may have left China to avoid criminal prosecution. Read Full Post…
LeTV (Shenzhen: 300104) could become the first major victim of a rapid downturn sweeping through the online video sector, with speculation running rife about reasons behind a prolonged trip abroad by the company’s chairman and CEO. The growing speculation that Jia Yueting may be wanted for some kind of wrongdoing prompted LeTV to start the new week by halting trading in shares of its Shenzhen-listed stock, following a slide of more than 10 percent over the last 2 weeks.
LeTV’s stock decline is even more dramatic since the beginning of the year, with the company’s shares down nearly 40 percent from a peak in March when the world was still quite bullish about Chinese online video companies. Much has changed since then, as China’s regulator launched a crackdown on the sector starting this spring. That drive widened steadily over the summer months and has shown no sign of slowing. Read Full Post…
I decided to write about leading online video site Youku Tudou (NYSE: YOKU) today after reading a new report that says the company has posted a hefty 1.77 billion yuan ($290 million) in losses since its New York IPO 4 years ago. A little math will show that translates to average losses of about $20 million in each of the approximately 15 reporting quarters since it went public in December 2010. Much has changed in China’s online video space over that time, including a recent regulatory campaign to stop Youku Tudou and its peers from competing directly with traditional TV stations. Read Full Post…
Regulators in new role as judges for industry clashes
China’s regulators have become involved in mediating a growing number of business disputes, reflecting the recent rise of a new generation of multibillion-dollar private sector companies that are rapidly growing beyond their traditional roots. In most cases, companies that began as Internet firms and high-tech manufacturers have encroached into a wide range of new areas like banking, TV and telecoms services, raising the hackles of big state-owned firms that previously dominated those sectors. Read Full Post…
China’s entrepreneurial tech firms never miss a good business opportunity, and environmental plays are suddenly the flavor of the day with word of major new pollution-related plays by smartphone sensation Xiaomi and online video firm LeTV (Shenzhen: 300104). Xiaomi has announced it will enter the smart devices space with a new line of air purifiers aimed at consumers tired of breathing polluted Chinese air. Meantime, LeTV has announced its intent to get into the electric vehicle (EV) business, as China opens up that sector to encourage development of more clean technology. Read Full Post…
