Software security specialist Qihoo 360 (NYSE: QIHU) is pouncing on a recent rally in its shares to announce a massive new bond offering, becoming the latest in a select group of top Chinese tech firms to raise big new funds as investor enthusiasm returns to the sector. Following its announcement of upbeat earnings earlier this week, Qihoo has followed with word of the plan to offer senior 5-year notes worth $600 million. To put things in perspective, that amount is equal to more than 6 percent of the company’s market value, which is already quite inflated after Qihoo’s shares have nearly quadrupled over the last year. Read Full Post…
Froth in company valuations seems to be building once again in China’s high-tech realm, with word that up-and-coming smartphone maker Xiaomi’s latest fund raising values the company at more than $10 billion. The last time I wrote about such a rapidly rising valuation was about 2 years ago when an investor in high flying e-commerce site Jingdong proclaimed that company was also worth more than $10 billion. Jingdong’s value later came down considerably, and I wouldn’t be surprised if Xiaomi’s latest valuation is also just a bit too high on too much investor enthusiasm about this company that is growing fast but also playing in a very competitive market. Read Full Post…
The following press releases and media reports about Chinese companies were carried on August 23. To view a full article or story, click on the link next to the headline.
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Lilly (NYSE: LLY) Says Deeply Concerned By Bribery Allegations In China (English article)
Geely (HKEx: 175) to Offer Vehicles Jointly Developed With Volvo in 2015 (English article)
Baidu (Nasdaq: BIDU) Unveils Light App Distribution Platform (English article)
Telecoms stalwart China Mobile (HKEx: 941; NYSE: CHL) and up-and-comer Xiaomi are creating new buzz in the sector these last few days, as speculation builds that the former may be near a long-awaited deal with Apple (Nasdaq: AAPL) to finally offer the iPhone on its network. Meantime, Xiaomi is making headlines with word that it expects its revenue to double this year, following a strong reception for Hongmi, its latest smartphone that retails for just 799 yuan or about $130. Read Full Post…
We’ve been reading all year about how China is set to overtake the US to become the world’s largest smartphone market in 2013, and now we’re seeing some numbers that tell the story more vividly. The latest figures on China’s smartphone market show Apple’s (Nasdaq: AAPL) position slumping in the second quarter, as sales have surged for a field of domestic players cranking out millions of cheap models, many selling for less than 1,000 yuan ($160 )each. Up-and-coming smartphone maker Xiaomi entered that part of the market just 2 weeks ago with its introduction of the Hongmi, which retails for just 799 yuan. (previous post) Read Full Post…
The following press releases and media reports about Chinese companies were carried on August 10-12. To view a full article or story, click on the link next to the headline.
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After 9 Years, Tesco (London: TSCO) Gives Up On Cracking China Alone (English article)
China To Let Banks Sell Off Loans In Prelude To Possible Bailout (English article)
China’s Largest Investment Bank CICC In Early Step Towards IPO – Report (English article)
Xiaomi Raises 2013 Handset Sales Projection to 20 Mln Units (English article)
Samsung Leads China Smartphone Market, Apple Drops out of Top 5 (English article)
After watching leading online video site Youku Tudou (NYSE: YOKU) search for most of its life for projects with profit potential, I’m happy to finally see a new Internet TV initiative by the company that looks like it could have strong prospects. We’ll need to see some more details about this initiative and whether it actually happens before I can comment too much on its actual potential. But this move into the more mainstream TV market could be just the kind of boost that Youku Tudou needs in its quest to find sustainable profits. Read Full Post…
The following press releases and media reports about Chinese companies were carried on July 30. To view a full article or story, click on the link next to the headline.
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China Agrees To Talks On French Wine Dispute, EU Says (English article)
Alibaba In Late-Stage Talks To Buy PPTV Stake – Source (Chinese article)
The following press releases and media reports about Chinese companies were carried on July 19. To view a full article or story, click on the link next to the headline.
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China Hits US, South Korea With Solar Material Duties, Skirts EU Decision (English article)
Tencent (HKEx: 700), Alibaba in Talks to Acquire Jiayuan (Nasdaq: DATE) – Sources (English article)
Tencent, China Unicom (HKEx: 762) In Weixin Tie-Up (Chinese article)
Yahoo (Nasdaq: YHOO) Buys Chinese Startup Ztelic To Boost R&D (English article)
Xiaomi Nears New Funding Round, To Value Company At $9 Bln – Source (Chinese article)
The following press releases and media reports about Chinese companies were carried on July 17. To view a full article or story, click on the link next to the headline.
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Smithfield’s (NYSE: SFD) China Bidders Plan Hong Kong IPO After Deal – Sources (English article)
The following press releases and media reports about Chinese companies were carried on June 21. To view a full article or story, click on the link next to the headline.
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SEC Charges China MediaExpress, CEO With Fraud (English article)
Alibaba’s 1688.com Launches Group Buy Channel (English article)
