Communist Party Expands Crackdown On China's Tech Billionaires After Spoiling Ant Financial IPO Tyler Durden Tue, 11/10/2020 - 19:45 Jack Ma might be China's richest man (for now, at least), but in the span of a week, Beijing's decision to postpone the planned IPO/spinoff of Alibaba's Ant Financial unit offering in Shanghai, preceded, according to reports , by onerous new regulatory measures (which, analysts say, could cut the company's value in half) has brought Ma to heel. What could Ma, whose membership in the Communist Party is a matter of public record, have possibly done to provoke such a painful rebuke? He had the audacity to criticize China's financial regulations during an appearance at a high-profile industry conference in October. Ma's comments didn't make waves at the time, but nothing escapes the CCP. Following a year where China has delivered perhaps its biggest repudiation yet to international hopes for economic and political liberalization (the Hong Kong natsec law and brutal COVID lockdowns are probably the two most vivid examples), it appears President Xi and the Politburo are launching a full-on campaign to rein in the power of China's tech/fintech billionaires (a group that also includes Tencent founder Pony Ma).
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Yintech Investment (NASDAQ:YIN) was upgraded by stock analysts at BidaskClub from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, BidAskClub reports. Separately, ValuEngine upgraded Yintech Investment from a “strong sell” rating to a “sell” rating in a report on Monday, August 3rd. NASDAQ:YIN opened at […]
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Yintech Investment (NASDAQ:YIN) was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, BidAskClub reports. Separately, ValuEngine upgraded Yintech Investment from a “strong sell” rating to a “sell” rating in a research report on Monday, August 3rd. YIN opened at […]
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BidaskClub upgraded shares of Yintech Investment (NASDAQ:YIN) from a sell rating to a hold rating in a research note issued to investors on Tuesday, BidAskClub reports. Separately, ValuEngine upgraded Yintech Investment from a strong sell rating to a sell rating in a research report on Monday, August 3rd. Yintech Investment stock opened at $7.20 on […]
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NEW ORLEANS--(BUSINESS WIRE)--Former Attorney General of Louisiana Charles C. Foti, Jr., Esq. and the law firm of Kahn Swick & Foti, LLC (“KSF”) are investigating the proposed sale of SINA Corporation (NasdaqGS: SINA) to New Wave Holdings Limited. Under the terms of the proposed transaction, shareholders of SINA will receive only $43.30 in cash for each share of SINA that they own. KSF is seeking to determine whether this consideration and the process that led to it are adequate, or whether
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Chinese online media firm Sina Corp. is quitting Wall Street as Chinese tech companies come under heightened scrutiny in the United States.
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Shares of Sina Corp. soared 5. The post Sina To Be Taken Private In $2.6B Bid; Shares Gain 6% appeared first on Smarter Analyst .
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Chinese internet giant Sina Corp, the parent company of the country's vast Twitter-like Weibo platform, plans to delist its US shares and go private, making it the latest mainland firm to withdraw from Wall Street as relations between Beijing and Washi…
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Chinese social media platform Weibo (NASDAQ: WB) reported a year-over-year decline in non-GAAP EPS and revenue for the second quarter of 2020. However, both the bottom and topline numbers in Q2 surpassed the market’s estimates and sent WB stock in the upward direction today. Q2 results Weibo, a subsidiary of SINA Corporation (NASDAQ: SINA), reported […]
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Peter Elstrom / Bloomberg : China's Sina Corp., which operates Weibo, agrees to go private in a $2.59B deal, after an entity led by its chairman boosted its offer to $43.30 per share — Sina Corp. agreed to go private after an entity led by its chairman, Charles Chao, boosted its offer for the Chinese social media company to $43.30 a share in cash.
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Sina Corp , owner of social media platform Weibo , will be taken private in a US$2.6 billion deal with Chief Executive Officer Charles Chao, the …
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Sina Corp , owner of social media platform Weibo, will be taken private by a holding company led by Chief Executive Officer Charles Chao in a US$2.6 billion deal, the Chinese internet company said on Monday.
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SINA Corp Earnings, Revenue inline in Q2
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NEW YORK--(BUSINESS WIRE)--Halper Sadeh LLP, a global investor rights law firm, is investigating: Yintech Investment Holdings Limited (NASDAQ: YIN) concerning potential violations of the federal securities laws and/or breaches of fiduciary duties relating to its sale to a group of rollover shareholders that includes members of Yintech’s management and board of directors. Under the terms of the merger agreement, holders of Yintech ordinary shares will receive $0.365 in cash per share, and holder
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NEW ORLEANS--(BUSINESS WIRE)--Former Attorney General of Louisiana Charles C. Foti, Jr., Esq. and the law firm of Kahn Swick & Foti, LLC (“KSF”) are investigating the proposed sale of Yintech Investment Holdings Limited (NasdaqGS: YIN) to Yinke Holdings Ltd. Under the terms of the proposed transaction, shareholders of Yintech will receive only $0.365 in cash for each share of Yintech common stock owned and $7.30 in cash for each American depositary share (“ADS”) that they own. KSF is seekin
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NEW YORK--(BUSINESS WIRE)-- #Acquisition--Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, has launched an investigation into whether the board members of Yintech Investment Holdings Limited (NASDAQ: YIN) breached their fiduciary duties or violated the federal securities laws in connection with the company’s acquisition by Yinke Holdings Ltd. Click here to learn more and participate in the action. On August 17, 2020, Yintech announced that it had signed an agreement to be
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NEW DELHI: Baidu Search and Weibo, among the most influential apps of China and dubbed as the country’s answer to Google search and Twitter respectively, have been blocked in India.Weibo, launched in 2009 by Sina Corporation, has over 500 million registered users globally. It had Prime Minister Narendra Modi as one of its star users after he opened an account on the Chinese microblogging website in 2015 ahead of his visit to the neighbouring country.The inaugural post of Modi — who had over 2 lakh followers on the site with 100-plus posts — had read, “Hello China! Looking forward to interacting with Chinese friends through Weibo” (the PM quit Weibo recently following the heightened tensions). 77341948Baidu has been testing waters in India (one of its significant products here is Facemoji keyboard), and the company wanted to increase its engagement in the country, something spoken about by its CEO Robin Li, who came visiting the IIT-Madras campus in January this year.The two apps, which are among the flagship internet products of China, have been asked to be taken off from the app stores of Google and Apple, while internet service providers (IPSs) have also been told to block them, sources told TOI. “They are among the 47 new apps that the government had banned on July 27,” an official source said, adding that the government is also considering a decision to block more apps.While the first decision to ban 59 key apps — such as TikTok, UC Browser, Helo, Likee, Shareit, Mi Community, WeChat and CamScanner — was taken on June 29, the government had supplemented the list by adding 47 more, though this time refraining from making the list public.Most apps in the second decision included clones and different versions of some of the original apps, such as TikTok Lite, Likee Lite, Bigo Live Lite, Shareit Lite, and CamScanner HD.
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Bengaluru | New Delhi: India has drawn up a list of 275 Chinese apps that it will examine for any violation of national security and user privacy, signalling heightened scrutiny and the possibility of more Chinese internet companies being banned in the country, according to people aware of the developments. This follows the high-profile ban of 59 Chinese apps last month, including short video app TikTok, amid simmering geopolitical tensions between the two Asian giants.The list, reviewed by ET, includes gaming app PubG backed by China’s most valuable internet major Tencent, Zili by phonemaker Xiaomi, AliExpress by ecommerce giant Alibaba as well as apps like Resso and ULike from TikTok-owner ByteDance.“The government may ban all, some or none from the list,” said one person cited above.A spokesperson for the union home ministry did not respond to queries from ET on the developments. However, official sources said reviews aimed at identifying more Chinese apps and their funding is underway. “Some of these apps have been red-flagged due to security reasons while others have been listed for violation of data sharing and privacy concerns,” an official explained.This is in addition to examining the alleged flow of data from these apps to China that poses a threat to sovereignty and integrity of India, according to officials who pointed to what they termed as China’s data-sharing norm that requires companies of Chinese-origin to share data with the home country, irrespective of where they operate.
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Sina Corp, a Chinese social media company, has received a take-private proposal for US$41 (RM175.34) a share from an entity led by its chairman.
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Sina Corp , the owner of media social platform Weibo, said on Monday it had received a go-private offer of US$41 per share in cash from a holding company led by its Chief Executive Officer Charles Chao.
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Sina Corp, the owner of media social platform Weibo, said on Monday it had received a go-private offer of $41 per share in cash from a holding company led by its Chief Executive Officer… | July 6, 2020
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At the end of February we announced the arrival of the first US recession since 2009 and we predicted that the market will decline by at least 20% in (see why hell is coming). In these volatile markets we scrutinize hedge fund filings to get a reading on which direction each stock might be going. […]
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The technical chart pattern of SINA Corporation stock suggests the beginning of a trend reversal over the medium term. | May 26, 2020
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SINA Corp.'s (SINA) first-quarter top line reflects weakness in advertising revenues due to the adverse impact of the coronavirus pandemic on overall advertising demand.
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Final earnings conference call transcript of Sina Corporation - SINA stock
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SINA Corp.'s (SINA) fourth-quarter top line reflects growth in non-advertising revenues, driven by the company's fin-tech businesses.
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SINA earnings call for the period ending December 31, 2019.
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SINA Corporation (NASDAQ:SINA) enjoyed a healthy rise Thursday, after announcing a $500-million share repurchase program. The Beijing-based company, a leading online media company serving China and the global Chinese communities, today announced …
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The "phase one" trade deal announced by the U.S. and China Friday saw many stocks jump, with investors breathing a sigh of relief as the U.S. pulled back on $160 billion in new tariffs that were set to go into effect Sunday. A number of sectors — including tech, biopharma and airlines — traded higher on the news. Here's a look at some of the stocks that moved on the latest trade war development. Technology Stocks SINA Corp (NASDAQ: SINA ) is a Chinese technology company which operates four major business lines: Sina Weibo, Sina Mobile, Sina Online and Sinanet. The stock was trading 0.93% higher at $38.15 at the time of publication. Weibo Corp (NASDAQ: WB ) is a Chinese social network company spun off from Sina Corp. that's known for the microblogging website Sina Weibo. It is based in Beijing, China. Weibo Corp shares were trading 1.12% higher at $45.86 at the time of publication. Alibaba Group Holding Ltd - ADR (NYSE: BABA ) is … Full story available on Benzinga.com
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Shares of SINA Corp (NASDAQ:SINA) gapped down before the market opened on Friday . The stock had previously closed at $30.09, but opened at $33.68. SINA shares last traded at $33.27, with a volume of 80,693 shares changing hands. A number of research analysts have weighed in on the company. BidaskClub lowered SINA from a […]
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SINA Corp's (SINA) third-quarter revenues reflect growth in Weibo advertising and marketing, and non-advertising revenues.
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— Sina Corporation (NASDAQ: SINA) reported its third-quarter 2019 adjusted earnings of $0.94 per share versus $0.59 per share expected. — Net revenues rose by…
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SINA earnings call for the period ending March 31, 2019.
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Chinese internet firm Sina Corp will temporarily suspend its news app, blog platform and other products after it was found to have violated the country's internet regulations, Chinese authorities said on Wednesday.
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by Venus FengSoftware engineer Zhang Yiming started out producing apps for sharing jokes before focusing on news aggregation. That pivot proved lucrative.The 35-year-old founder of Bytedance Ltd. is worth about $13 billion, according to the Bloomberg Billionaires Index, making him China’s 9th-richest person and one of the fastest in modern times to amass a mega-fortune. The business, founded in 2012, has more than 1 billion active monthly users across eight mobile apps, including a news aggregator powered by artificial intelligence and a video-sharing platform.His rapid wealth accumulation is a sign that China hasn’t lost its knack for creating mega-rich company founders despite a slowing economy. It also helps explain why authorities seem to be taking a more tolerant stance toward a corporate structure favored by the country’s technology tycoons, most of whom have chosen to list their businesses overseas.Zhang’s fortune is harder to calculate than the founders of Baidu Inc. and Tencent Holdings Ltd. in part because his company isn’t yet public.
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