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China’s first cultural media industry fund is in operation; 2 billion yuan collected China’s first cultural media industry fund is in operation; 2 billion yuan collected(0)

CMC’s principal initiator and investor parties have strong financial investment and background of the media industry, including the Shanghai Oriental Culture Industry Investment Co. held by Shanghai Oriental Media Group Limited (SMG, the original Shanghai Media Group), Guo Kai financial limited co., subsidiary of China National Development Bank, Shanghai Dazhong Public Utilities (Group) Co., Ltd. held by Shanghai Volkswagen Group, Shenzhen Tian Zheng Capital Equity Investments Limited, subsidiary of China Merchants China Fund Investment Co., Ltd., Wenhui Xinmin United Press Group, the broadband capital and other institutions.

It is known that the agency will focus on restructuring in the field of culture and media, industry consolidation and innovations, self-positioning to be strategic investors to promote the development of domestic cultural industries across; At the same time the Fund will be committed to the “Chinese culture going out” by using the means of capital to get involved in the international media market, building Chinese global media investment and operation platforms.

Specifically, the fund will focus on providing growth capital, corporate restructuring, management buyouts and other market-oriented financing.

Li Ruigang said earlier that the current assets value of Chinese media had been seriously underestimated, and only the capital market could find all of its internal value and market potentials.

Tencent Record Net Profit Tencent Record Net Profit(0)

Tencent said it saw weaker seasonality in the second quarter for its IVAS business, citing fewer holidays in the period and students’ exams.

The company, China’s largest online game operator and instant messaging platform, reported 90.8 percent growth in revenue from online games. IVAS revenue totaled 3.39 billion yuan for the quarter.

IVAS contributed most of Tencent’s total revenue, online advertising contributing 4.8 percent and mobile services 14.6 percent.

Tencent said net profit rose to 1.78 billion yuan in the first quarter, from 1.035 billion yuan a year earlier. Revenue rose 68.8 percent to 4.23 billion yuan.

Last month, Tencent paid $300 million for 10 percent of Digital Sky Technologies, an investor in the Russian equivalent of Facebook, which also recently purchased chat messaging platform ICQ from Time Warner.

Tencent’s ambitions to expand overseas comes as China’s online game market becomes more cutthroat, with companies churning out similar games, jockeying for the attention of an audience whose tastes are becoming more sophisticated.

Online game revenue in China rose more than 40 percent in the first quarter to 7.82 billion yuan, said Beijing-based Analysys International.

Source : Konaxis

World cotton shortage World cotton shortage(0)

The deficit will be about 310,000 metric tons before the new crop comes onto the market, the agency said in a report, citing the China National Cotton Reserves Corp. The deficit calculation has taken into consideration the quantity China needs to import and the available global supply, it said.

India, the world?s second-largest cotton grower, halted exports last week to boost domestic supplies and cool prices. China?s economic growth of 11.9 percent in the first quarter is spurring textile consumption while cotton output last year shrank on reduced planting.

Chinese consumption may outstrip available supply by 3.5 million tons in the marketing year ending Aug. 31, and supply will remain tight next year, said analysts.

Demand is recovering as China?s cotton yarn output jumped 20 percent in the first quarter as factories increased production on improving exports, the China Cotton Association said on April 23.

The government is likely to issue another 1.1 million tons of import quota in May, Yuan said, in addition to the existing 1.89 million tons.

“It?s difficult to be optimistic about domestic spring planting because farmers have had to delay by 7-to-10 days as temperatures in most major producing areas remained lower than usual,? the commission?s report said.

China’s Sohu First-Quarter China’s Sohu First-Quarter(0)

For the first quarter, the company reported net income of $41.3 million, or 73 cents a share, compared with $44.6 million, or $1.15 a share, in the year-ago period.

Revenue rose 12 percent to $129.5 million, helped by a 17 percent increase in online games revenue.

On a non-gaap basis, the company earned 86 cents a share.

Analysts on average were expecting earnings of 72 cents a share on revenue of $128.2 million, according to Thomson Reuters I/B/E/S.

For the second quarter, the company forecast non-gaap earnings of 87 cents to 92 cents a share, on revenue of $139 million to $144 million.

Analysts were expecting earnings of 84 cents a share, on revenue of $140.4 million.

Source : Konaxis

Value chain hotel Value chain hotel(0)

9:29:30, everyone began to applaud.

9:29:58, Bo Quan pressed down that green button.

9:30 am, the bell rings, declaring the day of trading opened, we continued to applaud until 9:30:30, as CNBC and the New York Stock Exchange Web site was live broadcasting the whole ceremony, and then all of us shook hands and embraced each other congratulations. Down to the trading floor, after waiting for 7 days (NYSE: SVN) the first day opening price was here, after about 10 minutes, the big screen poped out auction results, $ 13.50.

New York local time the morning of November 20, China’s third-largest economy value chain hotel - 7 days Hotels was listed in New York Stock Exchange and became the first Chinese chain services company landing there. Director Zhang Qiong recorded this exciting moment in blog.

“The general opening bell is 10 seconds, Mr. He pressed it for 15 seconds not willing to let it go, people underneath quickly pulled out his hand and said: “If you continue to do this, the stock exchange will not be opened.”" 7 days CEO Zheng Nan-Yan overseas connecting with the “Money Weekly” reporter in the same evening recalled the scene at that time.

7 days hotel price of 13.5 U.S. dollars listed on the first day opening exceeded the issue price of 2.5 U.S. dollars, closed at 12.5 U.S. dollars, increased by 13.64% against contrarian market. The IPO issued a total of 10.1 million copies of ADS, accounting for 20.6% of the company’s total share capital, financing an amount up to 111.1 million U.S. dollars.

41-year-old Zheng Nan-Yan (holding 13.4%) overnight was among the ranks of billionaires, soared to 0.37 billion yuan, and the chairman “reclusive” behind the scenes, 47-year-old He Boquan (holding 35.3%) has surface assets of nearly 1 billion yuan.

Former CEOs of Robust, He Boquan and former vice president of Ctrip, Zheng Nan-Yan, has an admiring story. In 2004, He Boquan met Zheng Nanyan for twice with each meeting less than 3 hours, and the lattter never did hotel industry, and then they invested 60 million yuan to build 7 days. Now He Boquan’s holdings is more than 20 times of the market value.

Public data showed as of the end of September 2009, 7 days has opened 283 branches, the number of branches ranked third in the industry, just behind Ru Jia and Jinjiang Zhi Xing. The network has covered 41 cities, and rooted in Beijing, Guangzhou, Shenzhen and other major cities and many provincial cities. 7 days hotel has maintained a sound momentum of rapid growth, and thus become the fastest-growing economy-scale hotel chain.

“In the U.S. roadshow, we found that investors there were very rational, very mature, very professional. A lot of features, including cash IT management system, a huge membership system, and a leading cost control are subject to their attention. ” Zheng Nan-Yan told reporters.

Sina robust Q4 Sina robust Q4(0)

In July, Sina agreed to sell its online real estate business to E-House China Holdings in exchange for a stake in a newly formed company, China Real Estate, which listed on the Nasdaq in October.

To help it expand the number of users, Sina has a number of niche portals catering to sectors such as food, autos and games.

Chao expects advertising sentiment to improve further in 2010 with the World Expo being held in Shanghai next year and major sporting events taking place.

Citigroup analyst Catherine Leung said Sina was poised to deliver robust performance in 2010 as it benefits from an improvement in margins.

Sina’s advertising revenue fell 16 percent in the third quarter, but rose 10 percent from the previous quarter to $63.8 million. The company forecasts advertising revenue between $60 million and $62 million.

Net profit fell to $16.7 million, or 29 cents a share, from $18.85 million, or 31 cents a share, a year ago.

Including advertising revenue from its online real estate business, which was recently merged with another company, it expects fourth quarter revenue to come in between $106 million to $109 million. That tops the average $99.5 million forecast from analysts, according to Thomson Reuters.

After excluding that business, the revenue will range between $93 million to $96 million.

Source : Konaxis

UCWEB proposed to be listed in overseas stock market within three years UCWEB proposed to be listed in overseas stock market within three years(0)

CEO Yu Yongfu, in an interview with foreign media, said the company planned to be listed in Hong Kong or the NASDAQ. Having got venture capital UCWEB has more than 80 million customers and about 380 employees in China.

“I believe that in the next three years we will be in stock market. The specific time depends on the status of the company business development and other market factors.” he said on the intervals of 2009 China Internet Conference.

Yu Yongfu said, UCWEB is a leading company with core technology and complete intellectual property in China’s mobile browser field. He also said the company in 2007, won the CEYUAN and Chenxing investments of about 10 million U.S. dollars. Alibaba Group in May of this year also made investments.

Huayi led the GEM: Ma Yun and Jiangnan Chun together earned 1.7 billion Huayi led the GEM: Ma Yun and Jiangnan Chun together earned 1.7 billion(0)

As shareholders of Huayi Brothers, Ma and Jiangnan, then together earned more than 1.75 billion.

Huayi Brothers opened at 63.66 yuan / share, compared to issue price of 28.58 yuan increasing by 122.74%.

Alibaba founder Ma Yun holds Huayi Brothers 13.8240 million shares, with the latest prices, Ma thus earned 1.23 billion. Focus Media CEO Jiang holds 5.9040 million shares, counted by the same opening price, he earned 525 million.

Huayi Brothers has a total of 75 shareholders who share 126 million shares. Zhongjun and Wang Zhonglei brothers hold 34.85% and 11.03% stake.

Visionchina spent 160 million U.S. dollars to buy DMG Digital Media Group Visionchina spent 160 million U.S. dollars to buy DMG Digital Media Group(0)

Transaction has been approved by boards of both companies, is expected to be completed in the first quarter in 2010.

Visionchina announced that 160 million U.S. dollars would be in cash and stock, and the entire payment process was divided into three steps, the first step was to pay DMG a total of 100 million U.S. dollars upon the completion of the transaction, of which 40 million were U.S. dollars in cash and Another 60 million U.S. dollars were stocks; the remaining 60 million U.S. dollars would be divided into two parts, each was 30 million U.S. dollars, respectively, would be delivered on the first and second year anniversaries.
  
DMG is subway passenger information systems integrators and China’s largest subway video media network operator. DMG’s operational headquarter is in Shanghai, R & D center is located in Beijing. Group including the Beijing Oriental Ying Lung Technology Development Co., Ltd., Beijing Oriental Dragon Advertising Co., Ltd., Di En Zhi(Shanghai) Co., Ltd. and the remaining six joint-venture operating subsidiaries.

Visionchina was established in April 2005, now has China and even the world’s largest outdoor digital television advertising network, listed in the U.S. Nasdaq stock market in 2007.

The Wall Street Journal: Cao Guowei-Sina team-used 180 million US dollars to buy 10% stakes in Sina The Wall Street Journal: Cao Guowei-Sina team-used 180 million US dollars to buy 10% stakes in Sina(0)

At the same time, a group of investors led by Sina CEO Cao spent 180 million U.S. dollars to purchase approximately 10% stakes of Sina.com.

Sina said the money was to be used for future acquisitions and the company’s general corporate expenses.

“Wall Street Journal” online edition reported that according to the terms of the agreement announced in December last year, Sina was going to issue shares for the acquisition of Focus Media’s framework advertising, building television, and stores advertising. If it did not get approved by the Ministry of Commerce by Wednesday of this week, the agreement would automatically be terminated. Guowei Chao said earlier this month, the deal was unlikely to be granted before the deadline.

Guowei Cao said in a press release on Monday: “Although the co-operation with Focus media will bring about strong synergies impact, but the delay will also have a negative impact.” But the two sides still plan to continue to cooperate.

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