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TELECOMS: Giddy Unicom Picks 14 Mixed-Ownership Partners

阳歌 08月17日

财新传媒英文部编辑

Bottom line: Unicom's choice of 14 partners for a mixed-ownership reform plan involving its Shanghai-listed unit is far too many, and is ultimately likely to fail when those partners become frustrated and sell their shares.
Unicom puts 14 new partners into its mix
What I feared might happen has come to pass in a mixed-ownership reform plan being crafted by China Unicom (HKEx: 762; NYSE: CHU), one of the nation's three telcos that is experimenting with selling some of itself to private investors. That's a reference to reports in early August that the company mig......
杨旺

游泳中国制造之朱志根:创新,永不止步

杨旺 08月15日

中视体育新媒体部长

中国游泳教练多有一双保养甚好且表现力丰富的手,朱志根便是其中一位。当年,这位前浙江仰泳名将便是靠着健硕的臂展乘风破浪,让对方不得不吃自己的“洗脚水”(游泳行话,指一直落后)。等当了教练,他的手更是如同乐队的指挥,成为丰富执教经验和细腻内心情感的某种外化。
但这几年,我看见的那双手,虽然情绪依旧爆满,但早已少了很多生气——尤其是右边那只,在交谈的状态下总是不由自主地晃动,如同冬日里悬崖边寒冷凛冽侵袭下的枯树干。
“右胳膊已经麻了,经常只能换一只手”,朱志根吃力地在我面前抬了抬胳膊,“我们游泳人早练就了左右互搏术。”
作为游泳池里年级最大的长者,......
杨旺

花游顾贝贝 20年的经历浓缩成五个关键词

杨旺 08月15日

中视体育新媒体部长

花样游泳运动员顾贝贝,在退役之后创办了自己的一家伽纳体育,为花样游泳有兴趣的孩子提供专业支持。现在,这位女神将自己20年的经历浓缩成了几个关键字,与大家分享。
选择——亲爱的队员们,无论现在你们的年龄有多小,你们都有主动选择的权利,而选择这件事往往都来自于内心的N种理由。所以探究你们为何喜欢花样游泳?我相信也一定会有多种完全不同的解释。例如“好奇”“独特”“友谊”等等,当然面对你们的喜欢or不喜欢,我们伽纳所有老师都表示完全的理解与尊重。因为如果想做好一件事,就要让内心与行动达成共识。所以,今天你们因选择了花样游泳来到这里,我们就有义务让你们获取更多快乐、......
阳歌

RETAIL: Alibaba, Tencent Take Wars to Convenience Stores

阳歌 08月15日

财新传媒英文部编辑

Bottom line: Alibaba's move into unmanned coffee shops could stand a strong chance of success due to its relative simplicity, while WeChat's move into Hong Kong convenience stores should also be relatively well received.
Alibaba samples coffee shops
Convenience stores are shaping up as the next battlefield in the wars for supremacy between Internet titans Alibaba (NYSE: BABA) and Tencent (HKEx: 700), at least based on the latest headlines. One of those has Alibaba preparing to roll out an unmanned coffee store concept in its hometown of Hangzhou, while th......
阳歌

FINANCE: Jack Ma’s Yu’ebao Fund Gets Too Fat

阳歌 08月14日

财新传媒英文部编辑

Bottom line: Yu'ebao's further lowering of investment limits shows the Ant Financial-owned fund is growing too unwieldy, and the company would be better advised to diversify its wealth management product portfolio.
Yu'ebao gets too fat on cash
Alibaba (NYSE: BABA) founder Jack Ma is quickly discovering that his super-aggressive promotional ways can sometimes yield too much success. That's my quick assessment of the bottom line from reports that Yu'ebao, the phenomenally successful fund launched by Alibaba's former financial unit Ant Financial, ......
阳歌
Bottom line: A peak-time outage for Mobike highlights how popular the shared bike service has become in a very short time and its vulnerability to hiccups, even though bigger issues are more likely to threaten its longer-term survival.
Mobike sees mass outage
We'll end the work week with a story about work itself that shows just how pervasive shared bike services have become in China's major cities in just a year's time. The story, involving a mass outage for leading operator Mobike, illustrates how such new technologies are prone to hiccups, and also how quickly th......
阳歌

INTERNET: Tencent – China’s New Opiate of the Masses?

阳歌 08月08日

财新传媒英文部编辑

Bottom line: Tencent could be forced to take more measures to control addictive play of its popular "Honour of Kings" game, which could take a short-term toll on its gaming business.
Military critical of Tencent hit game
Internet juggernaut Tencent (HKEx: 700) has been in nonstop headlines lately for its smash hit game called "Honour of Kings", along with its stock price that keeps reaching new highs. The company must certainly be feeling a bit uneasy from all the publicity, especially since Tencent tends to be quite low-key in line with the style of fo......
阳歌

SMARTPHONES: Smartisan Gets New Funding, But From Where?

阳歌 08月07日

财新传媒英文部编辑

Bottom line: Smartisan's new funding and plans to produce 5-6 smartphones a year look like an anomaly in the highly competitive market, and it's unlikely to survive as a standalone entity over the next 5 years.
Smartisan gets new funding
I was a bit surprised to read that a clear second-tier smartphone player, the uppity Smartisan, has received 100 million yuan ($147 million) in new funding, as we begin the latest week of summer. I haven't seen this company's name or many second-tier players like OnePlus in more than half a year, though their collectiv......
阳歌

TELECOMS: Unicom Plan Gaining Too Many Partners

阳歌 08月03日

财新传媒英文部编辑

Bottom line: Unicom's mixed-ownership reform plan could prove a dud if it chooses too many partners, which looks likely based on the latest reports.
Unicom eyes too many cooks for pilot plan
I haven't written for a while about a highly anticipated plan to inject some new life into perennial laggard telco China Unicom (HKEx: 762; NYSE; CHU) through a Beijing-led pilot program, even as reports build that an announcement of the mixed-ownership plan are imminent. Those reports include the latest word that an announcement could finally come later this month.
But wh......
阳歌

TRAVEL: Ctrip Travels Offline, Tongcheng Finds Profits

阳歌 08月02日

财新传媒英文部编辑

Bottom line: Ctrip's offline travel alliance campaign looks like a shrewd move with good chances of success, while Tongcheng's move back into profits shows the sector is heading into a new stable period.
Tongcheng travels back to profits
A couple of travel-related stories are in the headlines today, led by a blitz into the offline realm by leading online agent Ctrip (Nasdaq: CTRP). The other item has smaller rival Tongcheng reporting its first profit in four years, as it becomes the latest to emerge from a prolonged price war that bloodied the entire indu......
阳歌

IPOs: Sohu to List Sogou, AirMedia Lowers Buyout Offer

阳歌 08月01日

财新传媒英文部编辑

Bottom line: Sohu's plan to list its Sogou search unit has a 50-50 chance of happening this year, while AirMedia's 2-year-old privatization plan is likely to close within that period.
Sohu talks IPO for Sogou -- again
A couple of IPOs are in the headlines as we head into the new week, led by an often-discussed offering by perennial third-place search engine Sogou, which is co-owned by Internet titan Tencent (HKEx: 700) and second-rate portal Sohu (Nasdaq: SOHU). At the same time, another second-rate company, AirMedia (Nasdaq: AMCN), has sla......
阳歌
Bottom line: Xiaomi's rising market share and securing of $1 billion in new financing underscore its nascent turnaround may have some legs, even as its position remains tenuous in the cutthroat market.
Xiaomi unveils latest phone
Former smartphone sensation Xiaomi is in several headlines as we head into the close of the week, all of which seem to underscore that its nascent rebound may have some legs. But as anyone in the industry will tell you, any smartphone maker is really only as good as its last model these days, meaning fortunes can quickly turn with just one mis......
阳歌

NEW ENERGY: Solar Panel Makers Face New Storm in India

阳歌 07月26日

财新传媒英文部编辑

Bottom line:  India is unlikely to levy anti-dumping tariffs on Chinese solar panel makers, despite the likelihood that it will launch an investigation.
India set to launch anti-dumping probe on Chinese panels
The news just seems to be getting worse and worse for China's embattled solar panel makers. First the group was hit a few years back by anti-dumping tariffs from the US and Europe, and more recently the highly cyclical industry has gone into a downturn that has pushed a growing number of players into the red. As if that wasn't bad enough, media are reporting that ......
阳歌
Bottom line:  The formation of a joint venture between six leading cable operators looks designed to jump start Beijing's stalled attempt to create a national player that can compete with the big telcos.
Five regions in cable TV joint venture
After years of snail's-pace progress at consolidating the nation's fragmented cable TV operators, a group of leading players is finally taking matters into their own hands with announcement of what could be a breakthrough joint venture. I've followed this story for a while now, and, along with everyone else, have been impat......
陈昌业
——从做宁浩导演工作室进化为做一家片厂
文/陈昌业、郑茜
在今年的上海国际电影节上,坏猴子影业不仅办了一场热闹的品牌发布会,还做了《绣春刀2》和《中国药神》两场新片发布会。与这届上影节整体的平静相比,坏猴子的热闹甚至高调颇有些异类,大大出乎了坏猴子影业CEO王易冰的意料,“我们确实没想到别的公司会不做活动。”
距离坏猴子影业上一次发布72变计划以来,已有9个月,这一次的发布会在王易冰看来,就像是一个阶段性的成果汇报,“把做完的事情拿出来,希望业界能迅速认识到坏猴子这家公司是实实在在地在做事情。”但坏猴子这次对外发布的最重要的信息是,宁浩和王易冰的这家公司已从宁......
阳歌
Bottom line: A new scandal involving results that favor a major advertiser on Baidu's mapping service could have a minor impact on the company's stock during the next week, but is mostly an embarrassment.
Doctors criticize Baidu maps
A year after taking a beating over questions about the reliability of its search results, stumbling Internet titan Baidu (Nasdaq: BIDU) is back in the headlines over similar queries about results given by its popular mapping service. This time Baidu has quickly responded to the criticism from a group of doctors who are questioning......
阳歌

VIDEO: LeEco Moves on With Founder Jia’s Resignation

阳歌 07月07日

财新传媒英文部编辑

Bottom line: LeEco is likely to spin off its new energy car unit by the end of the year following the departure of founder Jia Yueting from the listed company, while it could also close its smartphone division.
LeEco set to spin off car unit?
In what looks like a major turning point for the foundering LeEco (Shenzhen: 300104), the company's charismatic but embattled founder has relinquished his role as chairman at the publicly listed firm. This particular news came out just as people were leaving home for work last night, so it's still not completely clear on what ......
阳歌

INTERNET: Tencent Limits Gamers, Joins With TCL

阳歌 07月04日

财新传媒英文部编辑

Bottom line: Tencent's roll-out of time playing limits for teenager gamers for a popular new title looks aimed at preventing a regulatory intervention, while its new TCL tie-up could presage a spin-off of its video business.
Tencent limits teenage gamers
Internet titan Tencent (HKEx: 700) is in a couple of headlines as the US observes its Independence Day holiday, starting with word that it's limiting teenagers from playing too much of a very popular new title. The other headline has the company teaming up with TV stalwart TCL (HKEx: 1070; Shenzhen: 00010......
阳歌

VIDEO: Xunlei Founder Resigns as CEO, Sale Coming?

阳歌 06月30日

财新传媒英文部编辑

Bottom line: The resignation of Xunlei's founder as CEO, even as he retains his chairman's title, could indicate a sale is coming soon, with the most likely buyer as Xiaomi.
Big shifts happening in Xunlei boardroom
The incredible shriveling online video company Xunlei (Nasdaq: XNET) is making a tiny splash in the headlines as we head toward the weekend, with word that its founder is relinquishing his position as CEO. The move seems potentially significant, since one of the main obstacles that keeps more companies from being acquired in China is resistance by their ......
阳歌
Bottom line: A major altercation between a customer and deliveryman from STO Express underscores the intense competition in the sector, which puts huge pressure on couriers and companies in general.
STO delivers controversy
An incident making the rounds in Chinese media is highlighting just how brutally competitive the parcel delivery business has become -- literally. The incident is quite appalling but not really too surprising, with reports that courier STO Express  (Shenzhen: 002468) has fired a deliveryman who seriously beat a customer who filed a complaint about ......

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陈酿老久 实朴

原文:还乡琐记:草木叩门 生活继续

吴春波H-R “乡田同井,出入相望,守望互助,疾病相持”,已成追忆。

原文:还乡琐记:草木叩门 生活继续

小胖子真不瘦 风口浪尖上的传奇人物!如果你就这样被打败,那你就真的太失败了,但是我相信你不是这种人,期待你东山再起的那天。

原文:回来吧,贾跃亭

lulud 创业英雄还是欺诈惯犯

原文:回来吧,贾跃亭

zhangmingxiao 川普执政一百多天,初见端倪

原文:商人治国成笑柄

孙越 史上有很多传奇,更有很多英雄,他们的死彰显生命的价值。

原文:对外侦察局的掏心猎手

zhangmingxiao 这个不是一起超售事件,是美联航因为内部员工需要乘坐飞机,旅客满员的情况下利用超售这个工具来达到赶下旅客的目的。

原文:美联航赶乘客下飞机 资深机长告诉你是否违规

郭杰群 在美国,地产开发商将出售资产所得在一定期限内进行类似房产的再投资可以享受一定的免税条款。这在我国当前还不具备,因此在一定程度上制约了地产商的能动性。

原文:REIT的海外发展及启示

Lypsey3543 “据个人了解,中国一线城市住宅投资收益率不会高于3,美国可以达到6。”作者这里说的应是租金收益率。首先,因(特大)人口增长加速,在新兴市场投资房产,主要看资本利得,动态租金收益要会延后实现,静态比较同期没有太大意义。其次,物业年均持有成本,纽约和中国一线城市不可比。第三,纽约和曼哈顿是两个概念。离开曼岛,租金中位数值完全是不是一个档次。而中国一线城市的租金上涨范围更大。因为仍处于成长期。总体而言,虽然在中美两国都投资的是房产,但从收益分布特征和波动率来说,完全可以看作是差别极大的两类资产。就如同高等级债券和蓝筹股票,横比收益没有意义,因为后者大幅超越。归根结底更可能是风险偏好异质性(含Demographic factors)和经济周期所处阶段决定了投资者更偏爱哪一类。

原文:2017年美国房地产市场展望——美国市场、中国视角

王争春 价格和土地供给的问题,我们慢慢谈。市场有垄断市场、寡头市场和竞争市场,定价规则自然有差异。

原文:面对房价,教科书自焚吗?经济规律笑了

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