财新传媒
位置:博客 > Doug Young > 个人分类 > 未分类
2018年08月17日 10:57

INTERNET: Google Feels China Backlash from Own Employees

Bottom line: An internal petition calling on Google to be more transparent about its plans to return to China represents the first major backlash to the move, but is unlikely to dissuade the company from going ahead.

When the news first broke a couple of weeks ago that Google (Nasdaq: GOOG) was planning a return to China's search market, many predicted that western sources would be quick to criticize the plan, even though few voices have actually spoken out so far. Fast forward a couple of weeks, when we are hearing the first sounds of what's likely to become a sea of protes......

阅读全文>>
2018年08月15日 12:18

INTERNET: Tencent Slumps Under Government Wrist-Slap

Bottom line: Tencent's sudden pulling of a popular game just days after its release shows no one is exempt from Beijing's recent online entertainment clampdown, which could weigh on stocks of related company for the next few months.

A new statement from leading online game operator Tencent (HKEx: 700) is dripping with contrition, following the sudden yanking of a new hit game from its platform that apparently didn't pass muster with the regulator. This latest Tencent news, combined with some downbeat earnings from live broadcasting specialist Huya (Nasdaq: HUYA) and its ......

阅读全文>>
2018年08月10日 15:18

IPOs: BeiGene, China Tower IPOs Fail to Excite in HK

Bottom line: Lackluster debuts for two of this year's largest China IPOs in Hong Kong points to a cresting of the current new listing wave, with sentiment starting to wane as investor appetite for new choices gets satisfied.

Two of the year's biggest China IPOs have formally launched in Hong Kong this week, each with a different story and accompanying moral to tell. The larger of those, and the world's largest IPO in the last two years, has seen state-run cellular tower operator China Tower (HKEx: 0788) raise nearly $8 billion, while the second has seen biotech firm BeiG......

阅读全文>>
2018年08月08日 11:54

VIDEO: iQiyi Goes Down LeEco Road with Sports JV

Bottom line: iQiyi's establishment of a new sports joint venture and the venture's subsequent 500 million yuan in funding point to a measured expansion for its premium content business, which will be key to its future success. 

I'm being just a bit coy with today's headline by suggesting that a new sports programming joint venture by online video site iQiyi (Nasdaq: IQ) resembles a similar expansion by disgraced former rival LeEco (Shenzhen: 300104). But the fact of the matter is that these two particular moves do look somewhat similar, even though I have far mo......

阅读全文>>
2018年08月02日 11:41

INTERNET: Google Outed on China Search Plan

Bottom line: A new report on Google's plan to launch a new China search engine within the next year looks credible, and underscores the company's decision to put the market's big potential ahead of the negative backlash such a move will bring.

A story in a publication called the Intercept is making big waves in China, saying search giant Google (Nasdaq: GOOG) is preparing a major about-face on its decision to leave the country's large but highly controlled search market. (English article) While I've never heard of this particular publication, the level of detail ......

阅读全文>>
2018年08月01日 11:34

SMARTPHONES: Huawei Rolls Past Apple

Bottom line: Huawei could challenge Samsung for the global smartphone crown in as little as a year, though a potential Achilles heel could be the "outing" of its surging Honor brand that most may not associate with the Chinese parent.

Smartphone pioneer Apple (Nasdaq: AAPL) has just reported its latest quarterly results, which means that all the data tracking firms can simultaneously release their own industry data showing the latest trends. Those trends show that Apple's sales were basically flat for in the quarter on a unit basis, even as the bigger story was that th......

阅读全文>>
2018年07月27日 12:24

CHIPS: China Kills Qualcomm Mega-Merger With Silent Treatment

Bottom line: China used its traditional silent treatment approach to kill Qualcomm's bid to buy NXP, quite possibly to show its displeasure with recent US trade tensions, but resulting global pressure could forced it to be more transparent in the future.

We'll close out the week with my own quick-and-dirty post mortem of the collapsed deal that would have seen telecoms chip maker Qualcomm (Nasdaq: QCOM) purchase Dutch rival NXP (Nasdaq: NXPI) for $44 billion. Put simply, this deal appears to have been killed by China's classic approach of "kill them with silenc......

阅读全文>>
2018年07月25日 12:19

INTERNET: Facebook, Google in New China Steps

Bottom line: Facebook and Google's latest micro-moves into China reflect their longer term efforts to get permission to launch major services in the market, though it's unclear if they will get such a green-light anytime soon.

You have to give China-challenged Internet giants Facebook (Nasdaq: FB) and Google (Nasdaq: GOOG) an "e" for effort. Both companies have popped into the China headlines over the last two weeks for micro-moves into the world's largest Internet market, including the latest news that Facebook plans to set up a company in Hangzhou that will b......

阅读全文>>
2018年07月19日 12:22

INTERNET: Baidu Sambas Out of Brazil

Bottom line: Baidu's withdrawal from Brazil reflects a broader inability of Chinese companies to succeed overseas due to their different practices and local wariness about their ability to protect user privacy.

In what is probably coming as a surprise to no one, media reports are saying that search leader Baidu (Nasdaq: BIDU) is pulling out of Brazil. This would represent the company's latest failure abroad, and is really part of a broader string of failures not only for the company but China's internet sector in general. This particular group is quite good at milking th......

阅读全文>>
2018年07月18日 11:49

SMARTPHONES: Xiaomi Takes Big Step Into South Korea

Bottom line:  Xiaomi appears to be gaining confidence of investors through moves like its entry into South Korea, but it will take at least another year to prove it really has the savvy to thrive over the longer term.

Newly listed smartphone maker Xiaomi (HKEx: 1810) has kept the world guessing these past two weeks with its on-again-off-again performance both on the Hong Kong stock exchange and now in the real world. The former is a reference to its stock, which did quite poorly in the run-up to its trading debut last Monday but has done a U-turn since then and posted some impr......

阅读全文>>
2018年07月13日 14:06

GAMES: Tencent Takes Gaming Act Abroad

Bottom line: Tencent's WeGame could stand a 50-50 chance of success in moving abroad, since the company already has a proven track record in games and will face relatively low privacy pr......

阅读全文>>
2018年07月12日 11:06

IPOs: Inke Pops in Trading Debut, Xiaomi Bounces Back

Bottom line: Live broadcasting specialists Inke and Huya should do well over the next year but could face difficulty after that as popularity of such services fades, while Xiaomi's stock gains over the last two days look like a dead-cat bounce.

Following the unimpressive debut of smartphone maker Xiaomi (HKEx: 1810) earlier this week, live streaming site Inke (HKEx: 3700) is the latest high-tech listing in the headlines with a more impressive debut in Hong Kong. This latest deal follows the US listing for Huya (NYSE: HUYA), China's first live streaming site to make an IPO, w......

阅读全文>>
2018年07月09日 11:29

IPOs: Xiaomi Fizzles in Debut, But What’s Next?

Bottom line: Xiaomi's stock is likely to be volatile over the next year and could move broadly downward as investors wait to see if the company's comeback has legs and it can move into higher-end products.

Smartphone maker Xiaomi (HKEx: 1810) seems to have become the proverbial lead zepplyn sinking further and further into the mire as it finally made its trading debut in Hong Kong. The company has been dogged by skepticism almost since the get-go of its blockbuster IPO, which ended this morning here in Asia with the stock's official trading debut. The question from here ......

阅读全文>>
2018年07月05日 10:58

TRADE: Micron, China Mobile Muddy US-China Trade Tensions

Bottom line: A court order barring Micron Technology from China and Donald Trump's attempts to keep China Mobile out of the US reflect blurring lines between business and politics in heightening US-China trade tensions.

Two new headlines are showing how trade tensions between the US and China are spilling over into the high-tech realm, while also reflecting a certain amount of confusion and twisting of the facts. Leading the somewhat misleading headlines is an item that has U.S. memory chip giant Micron (Nasdaq: MU) suddenly being shut out of China for a number of its products d......

阅读全文>>
2018年07月02日 12:02

IPOs: Pinduoduo Provides Fresh Face for E-Commerce

Bottom line: A new IPO by e-commerce company Pingduoduo could do reasonably well due to its rapid growth and unusual business model, but could suffer from a "flavor of the day" element over the longer term.

After years of basically having just two choices to invest in China's e-commerce market, investors will soon have another new and interesting option with the upcoming listing of a company called Pinduoduo. I'll admit that I was unfamiliar with Pinduoduo before reading about this upcoming listing. But that said, the numbers do point to a potential high-flyer in t......

阅读全文>>
2018年06月14日 11:31

TELECOMS: What’s Next After Resolution of ZTE Case?

Bottom line: ZTE will experience fallout from its run-in with Washington through much of next year, and could see an even longer-term hit to its global business as international customers start to look for alternate suppliers.

The saga of embattled smartphone and telecoms equipment maker ZTE (HKEx: 763; Shenzhen: 00006) appears to be nearing an end, as trading resumed in the company's stock following an official settlement with Washington over  illegal sales to Iran. The ending to this story certainly came with a big climax, with ZTE shares plunging by 42 percent in Hong Ko......

阅读全文>>
2018年05月30日 11:03

IPOs: Uxin Files in NY, Battery Maker in China, Mindray on ChiNext

Bottom line: New listing plans by used car platform operator Uxin, EV battery maker Amperex and medical device maker Mindray should all do well, driven by strong growth potential and their leading positions in China.

The latest IPO season for Chinese firms is kicking into high gear on both sides of the Pacific, with announcement of several hot new offerings that each has a slightly different story to tell. At the head of the class is a new listing for used car platform operator Uxin, which is aiming to raise up to $500 million in New York.

That's followed by a listing pla......

阅读全文>>
2018年05月23日 12:59

TELECOMS: China Mobile 4G Users Decline for First Time

Bottom line: China Mobile's first-ever drop in 4G subscribers in April owes to the company's early arrival to the space, and reflects the broader market's maturation that is also adding similar pressures to Unicom and China Telecom.

Much ado is being made about new data from the three big telcos that includes a first-ever drop in 4G subscribers for industry heavyweight China Mobile (HKEx: 941; NYSE: CHL). This particular first seems to have been a long time coming, and really shouldn't surprise anyone too much. The fact of the matter is that China's mobile market......

阅读全文>>
2018年05月21日 11:00

INTERNET: Baidu’s AI Drive Hits Speed Bump with COO’s Departure

Bottom line:  The departure of Lu Qi from Baidu could deal a setback to some of the company's less advanced and more ambitious efforts in artificial intelligence.

Just a year after being named as the man who would lead search leader Baidu (Nasdaq: BIDU) into a future filled with artificial intelligence (AI), Lu Qi has abruptly abandoned his post as the company's COO. Investors were clearly spooked by the move, dumping Baidu's stock on Friday to the tune of a nearly 10 percent drop, the kind of one-day decline not seen since the company became embroiled in an adverti......

阅读全文>>
2018年05月18日 10:46

PCs: Lenovo Blasted as Traitor for Supporting US Standard

Bottom line: A brouhaha involving Lenovo's branding as unpatriotic for not supporting homegrown technology is likely to blow over quickly, and spotlights China's continued reliance on foreign technology.

In a story that looks like a something from the McCarthy era, embattled PC maker Lenovo (HKEx: 992) has landed at the center of a controversy that's seeing it branded by some as a traitor for choosing foreign technology over a homegrown Chinese alternative. This kind of thing isn't at all that uncommon in China, where politics, business and everyday life mix freely.<......

阅读全文>>