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SMARTPHONES: Coolpad Losses Balloon, No Help in Sight

阳歌 04月24日

财新传媒英文部编辑

Bottom line: Money-losing Coolpad is likely to get sold before the end of this year to raise cash for controlling stakeholder LeEco, or could end up getting shut down if no buyer comes forward.
Coolpad to post big H1 loss
It's a new week, and that means new chances to write about the struggles of companies in the orbit of fast-fading former video superstar LeEco (Shenzhen: 300104). Last week the company's majority owned Yidao private car services was in the headlines, amid a he-said-she-said spat over 1.3 billion yuan ($189 million) in funds that Yid......
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VIDEO: LeEco Turns Off Vizio Deal, Cuts US Staff

阳歌 04月11日

财新传媒英文部编辑

Bottom line: LeEco's scrapping of its Vizio purchase may be due to currency controls, but should be welcome by the company as a cash conserving move, and could presage a withdrawal of its investment in electric car maker Faraday Future.
LeEco scraps Vizio purchase
The first major pullback for cash-challenged LeEco (Shenzhen: 300104) is coming in the US, where the company is confirming the abandonment of its $2 billion agreement to buy no-name TV maker Vizio. At the same time, unconfirmed reports citing knowledgeable insiders are saying the company is cutting ......
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Bottom line: LeEco's debt-for-equity deal with Compal and the looming collapse of its Vizio purchase are welcome developments that show it could quietly jettison some of its newer businesses and eventually emerge from its current cash crunch.
Picture dims on LeEco's Vizio purchase
The unwinding of former online video superstar LeEco (Shenzhen: 300104) continues to unfold, with two major developments that could help to slow the company's rapid decline. The first of those has one of LeEco's largest creditors, Taiwan contract manufacturer Compal ......
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INTERNET: Yidao Talks IPO, in Break with LeEco

阳歌 03月14日

财新传媒英文部编辑

Bottom line: Yidao's announcement of plans for an IPO hint at a looming sale of the company by controlling stakeholder LeEco, which could be mulling sales of other recently purchased assets in a bid to ease its cash-crunch.
Yidao prepares for IPO
What do you do when you're running low on cash? The answer is obvious for private car services firm Yidao: make an IPO. That would normally seem like a relatively smart and logical choice for most up-and-coming companies, but Yidao isn't quite one of those. For starters, the company operates in an extremely competitive......
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MEDIA – LeEco Default Strains China Sports Bubble

阳歌 02月28日

财新传媒英文部编辑

Bottom line: LeSport's reported default on payments for Asian Football Confederation soccer games marks the start of the popping of a bubble for sports broadcasting rights dating back to last year.
LeSports soccer drive on the skids
In what could be the first domino to fall in China's overinflated market for sports broadcasting rights, the sports unit of cash challenged LeEco (Shenzhen: 300104) has reportedly defaulted on payment for one of several high-priced packages it purchased last year. In this case, it appears that fans of Asian Football Confederat......
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SMARTPHONES: Xiaomi, Vivo Skip Barcelona Telecoms Bash

阳歌 02月27日

财新传媒英文部编辑

UPDATE: After publishing this earlier this morning, a source in Barcelona informs me that Oppo is indeed attending and is holding a press event to show off their newest products. Headline and photo caption changed to reflect Oppo's attendance, but the rest of the original post remains the same.
Bottom line: The absence of Oppo and Vivo from the world's top telecoms trade show in Spain this week reflects their overwhelming reliance on China sales, while Xiaomi's absence from the show could be a cash conservation move.
Vivo, Xiaomi absent from top telecoms trade show <......
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Bottom line: iQiyi's issue of convertible notes to raise its latest $1.5 billion shows it continues to post big losses, and investors are increasingly skeptical that it can become profitable in the next 2 years.
iQiyi lures investors with convertible notes
It seems no one is quite ready to believe that China's cash-burning online video sites are ready for the profit column just yet. That seems to be the message coming from Baidu-backed (Nasdaq: BIDU) iQiyi, one of the leading players, which has just raised a fresh $1.5 billion via a convertible note issue. Tha......
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SMARTPHONES: Creditor Chases LeEco; TCL Teases BlackBerry

阳歌 01月06日

财新传媒英文部编辑

Bottom line: A new arbitration claim by a LeEco supplier could trigger a domino effect that sends the company into crisis, while TCL's first BlackBerry model is likely to get lukewarm reviews when it debuts in March.
TCL teases first BlackBerry model at CES
We'll close out the week with a couple of smartphone headlines, which seems appropriate since the world's biggest consumer electronics show, CES, is taking place this week in Las Vegas. All 3 companies in the news are showing off their wares at CES, including cellphone stalwart TCL (Shenzhen: 000100), w......
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Bottom line: The departure of 2 recently hired executives from Faraday Future hints at chaos and uncertainty that has spread from struggling backer LeEco, a situation that only looks set to worsen.
Faraday Future execs depart
Cash-challenged online video company LeEco (Shenzhen: 300104) is getting an early shock in the run-up to the world's largest consumer electronics show, with word that two top executives have defected from its Faraday Future electric car unit. Anyone reading about these company for the first time is probably scratching his or her hea......
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CONSUMER: ZTE Hops Into Smart Cars, Gome Into Smartphones

阳歌 12月20日

财新传媒英文部编辑

Bottom line: ZTE's move into smart cars and Gome's into smartphones follow a typical Chinese pattern of herd mentality investing, and are both likely to fare poorly. 
ZTE buys car maker Granton
A couple of headlines are shining a spotlight on the herd mentality you often see among Chinese companies looking for the next big growth opportunity. One of those has telecoms stalwart ZTE (HKEx: 763; Shenzhen: 000063) buying a small bus maker, parroting a trend among a growing number of firms who see the future in smart vehicles. The other has the increasingly ir......
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VIDEO: Embattled LeEco Sued in HK as Bills Pile Up

阳歌 12月05日

财新传媒英文部编辑

Bottom line: A new Hong Kong lawsuit against LeEco by a small creditor over unpaid bills could mark the start of a new wave, which could ultimately snowball into a new crisis as its partners scramble to get back money they're owed before it's too late.
HK newspaper sues LeEco for unpaid debt
I've been skillfully avoiding writing about the embattled LeEco (Shenzhen: 300104) for the past month, even as the former online video high-flyer landed at the center of a storm that could ultimately result in its downfall. So a small story in the latest headlines, inv......

精彩评论

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

叶伟强 需求、供给、货币,都是影响价格的重要因素

原文:房价之谜 | 悬而未决的崩盘隐忧(完整版)

zhangmingxiao 合理吗?

原文:房价之谜(三)| 中国房价到底“合理”吗?

北方的小狼 中国特色,都是小民倒霉!哎!

原文:广西“吃穿山甲”案的厨师:匹夫无罪,怀璧其罪

abcnews 张老师这篇写得精彩。看来经济解释值得再去看一遍。几点想问一下:一是中国现在外汇减少,所以关税啥的肯定不会轻易取消,走一带一路推出人民币是稳定币值的好方法,不过确实以什么为锚呢?二是日本经济停滞,但听说日本人其实是进入了伊甸园阶段,收入啥的可能没增加,实际感受却始终稳定。这算好路吗?

原文:从中国先拔头筹看天下大势

孙越 (强)这会说得好!特朗普跟俄国商人绝不仅仅是生意往来吧。(呵呵)

原文:特朗普的俄国情结

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