Internet companies Shanda Games (Nasdaq: GAME) and Renren (NYSE: RENN) are playing new games to try and boost their struggling prospects, with the former announcing a major executive appointment and the latter a major new product development campaign. In Shanda Games’ case, the move looks potentially interesting because it’s most likely coming from the parent company’s recently named new president who was brought in to make the group’s various parts work better together. (previous post) In Renren’s case, the move also looks like a potentially good one as the company chases its ultimate goal of becoming profitable. Read Full Post…
Following earnings reports earlier this week that showed advertising business stabilizing at Baidu (Nasdaq: BIDU) and Sohu (Nasdaq: SOHU), we’re getting even more upbeat results from online game operator NetEase (Nasdaq: NTES) and leading Chinese chip maker SMIC (HKEx: 981; NYSE: SMI), which points to a broader Chinese economic recovery. I’ll be honest and say I’m most encouraged by the news from SMIC, which for years has had huge potential but always failed to realize that potential due to management and other internal issues. The year 2011 saw the company suffer through a bruising power struggle, after which the 2 men at the center of the struggle were both thrown out of the company and a new experienced CEO was brought in to try and finally put the company on more solid footing.
The following press releases and media reports about Chinese companies were carried on February 7. To view a full article or story, click on the link next to the headline. ══════════════════════════════════════════════════════
The following press releases and media reports about Chinese companies were carried on January 12-14. To view a full article or story, click on the link next to the headline. ══════════════════════════════════════════════════════
Sina (Nasdaq: SINA), Netease Youdao Partner on Microblog Translation (English article)
China Mobile (HKEx: 941) Says Apple’s CEO Cook Discussed Cooperation Issues (Chinese article)
Global e-commerce giant Amazon (Nasdaq: AMZN) was decidedly low-key in the launch last week of its Kindle bookstore in China, and now perhaps we know why. Just days after Amazon formally opened the store on its China site selling books for its Kindle tablet PCs, media are reporting the government agency that regulates the publishing industry has said Amazon’s new store violates Chinese regulations, implying the store may have to close until the situation gets sorted out. Whether or not such a closure, if it comes, would be temporary or permanent remains to be seen, though I think it would probably be temporary. But this case does once again underscore the regulatory risk of doing business in China, where numerous government agencies often oversee specific industries and anyone who operates needs to take care to keep all those regulators happy.
New reports over the weekend have Sina’s (Nasdaq: SINA) popular but profit-challenged Weibo microblogging service sniffing out a strategic tie-up with e-commerce leader Alibaba, in what looks like a very smart tie-up to me if it’s true. Meantime in related news, NetEase (Nasdaq: NTES) is shuttering one of its main social networking services (SNS) sites, again reflecting how difficult it is to make money in the popular but cash-poor world of SNS. Let’s take a look first at the big news regarding a potential Sina-Alibaba tie-up, which would mark a major step in the drive by Sina Weibo towards becoming profitable.
The following press releases and media reports about Chinese companies were carried on November 17-19. To view a full article or story, click on the link next to the headline. ══════════════════════════════════════════════════════
China Construction Bank (HKEx: 939) Approved to Issue Up To 40 Bln Yuan in Notes (HKEx announcement)
NetEase (Nasdaq: NTES) Social Networking Site Stops Service (Chinese article)
Suntech (NYSE: STP) Reduces Production at Arizona Factory (PRNewswire)
I’m christening today “Earnings Friday” because it’s easily the peak day of third-quarter earnings announcements for major US-listed Chinese firms, with everyone from real estate services firm E-House (NYSE: EJ) to drug maker Simcere Pharmaceutical (NYSE: SCR) releasing their results overnight. Since I have a natural bias towards tech, I’m going to focus today on the latest results from 2 of China’s oldest Internet firms, Sina (Nasdaq: SINA) and NetEase (Nasdaq: NTES), as well as its newest player Pactera (Nasdaq: PACT), which was formed just last week through the merger of former IT outsourcing leaders HiSoft and VanceInfo. (previous post)
The following press releases and media reports about Chinese companies were carried on November 16. To view a full article or story, click on the link next to the headline. ══════════════════════════════════════════════════════
China PICC In Talks With AIG (NYSE: AIG) As Buyer For $4 Bln HK IPO (English article)
Jingdong Mall Posts 2.5 Bln Yuan in Sales For 3 Days Around Nov 11 Singles Day (Chinese article)
The following press releases and media reports about Chinese companies were carried on October 24. To view a full article or story, click on the link next to the headline. ══════════════════════════════════════════════════════
Nexen (Toronto: NXY) Sale Said to Turn on China Backing Canada Deals (English article)
Suntech (NYSE: STP) Refuses Conditions for Government Assistance (Chinese article)
I have to admit that I’m becoming just a little bit confused by all the user data coming from China’s top 3 microblog operators, which seems to paint a slightly different picture from the one that Sina (Nasdaq: SINA) would like everyone to believe about the dominance of its popular Sina Weibo service. My attention was first drawn to the subject by a new media report in which NetEase (Nasdaq: NTES) says its microblogging service now has more than 260 million registered users, up sharply from 180 million just 2 months earlier. (English article) That number seemed to be a big narrowing of the gap with Sina Weibo, which had 360 million registered users at the end of June.
Following earnings reports earlier this week that showed advertising business stabilizing at Baidu (Nasdaq: BIDU) and Sohu (Nasdaq: SOHU), we’re getting even more upbeat results from online game operator NetEase (Nasdaq: NTES) and leading Chinese chip maker SMIC (HKEx: 981; NYSE: SMI), which points to a broader Chinese economic recovery. I’ll be honest and say I’m most encouraged by the news from SMIC, which for years has had huge potential but always failed to realize that potential due to management and other internal issues. The year 2011 saw the company suffer through a bruising power struggle, after which the 2 men at the center of the struggle were both thrown out of the company and a new experienced CEO was brought in to try and finally put the company on more solid footing.
Global e-commerce giant Amazon (Nasdaq: AMZN) was decidedly low-key in the launch last week of its Kindle bookstore in China, and now perhaps we know why. Just days after Amazon formally opened the store on its China site selling books for its Kindle tablet PCs, media are reporting the government agency that regulates the publishing industry has said Amazon’s new store violates Chinese regulations, implying the store may have to close until the situation gets sorted out. Whether or not such a closure, if it comes, would be temporary or permanent remains to be seen, though I think it would probably be temporary. But this case does once again underscore the regulatory risk of doing business in China, where numerous government agencies often oversee specific industries and anyone who operates needs to take care to keep all those regulators happy.
New reports over the weekend have Sina’s (Nasdaq: SINA) popular but profit-challenged Weibo microblogging service sniffing out a strategic tie-up with e-commerce leader Alibaba, in what looks like a very smart tie-up to me if it’s true. Meantime in related news, NetEase (Nasdaq: NTES) is shuttering one of its main social networking services (SNS) sites, again reflecting how difficult it is to make money in the popular but cash-poor world of SNS. Let’s take a look first at the big news regarding a potential Sina-Alibaba tie-up, which would mark a major step in the drive by Sina Weibo towards becoming profitable.
I’m christening today “Earnings Friday” because it’s easily the peak day of third-quarter earnings announcements for major US-listed Chinese firms, with everyone from real estate services firm E-House (NYSE: EJ) to drug maker Simcere Pharmaceutical (NYSE: SCR) releasing their results overnight. Since I have a natural bias towards tech, I’m going to focus today on the latest results from 2 of China’s oldest Internet firms, Sina (Nasdaq: SINA) and NetEase (Nasdaq: NTES), as well as its newest player Pactera (Nasdaq: PACT), which was formed just last week through the merger of former IT outsourcing leaders HiSoft and VanceInfo. (
