8:24 am Sky-mobi designated an official business partner of China Unicom (CHU) in three coastal regions to promote data packages, and will be eligible to share in a certain portion of the revenue generated (MOBI) : Co announced that it, through its controlling subsidiary Mopin Technology, has entered into business agreements with three coastal provincial divisions of China Unicom (CHU). Under the terms of the agreements, Sky-mobi has been designated an official business partner of China Unicom in these regions to promote data packages, and will be eligible to share in a certain portion of the revenue generated. "With a stronger competitive position and a well-developed business expansion strategy, we are confident that we will be able to secure at least 1% of the data traffic market in China in the foreseeable future."
Tiger Global Bets 2300% Gain for Bitauto Isn't Over
By Belinda Cao and Boris Korby - Sep 18, 2014
Tiger Global Management LLC is making an almost $600 million wager that the rally in shares of Bitauto Holdings Ltd., the Chinese car listing website operator that has surged 2,300 percent since 2012, isn’t over.
The hedge fund and private-equity firm, which was founded by a protege of billionaire investor Julian Robertson, held a 14.9 percent stake in Beijing-based Bitauto as of Sept. 12 after owning no shares as of June 30, regulatory filings show. The position makes Tiger Global the largest holder of the company’s U.S.-traded shares.
Scott Shleifer, the partner at New York-based Tiger Global responsible for the investment, is pouring money into a company that has managed to tap the soaring purchasing power of China’s burgeoning middle class. Monthly auto sales have more than tripled since 2008 to 1.47 million units in August, according to the China Association of Automobile Manufacturers. The gamble is that there’s more room for gains after a rally that made Bitauto the best performer this year on Bloomberg’s index of the biggest U.S.-listed Chinese stocks.
“We have a well-respected fund making a significant investment,” Jim Oberweis, president of Oberweis Asset Management, which also holds Bitauto shares, said by phone from Lisle, Illinois yesterday. “They probably look at the market and the opportunity for growth and say this is a pretty good market. It’s a good business and the valuation makes sense. How much the stock’s risen isn’t relevant to me.”
Shleifer declined to comment on the investment in Bitauto as did Chase Coleman, the Robertson disciple who founded the firm. The same day that the Tiger cub announced the Bitauto transaction, the firm, which has $15 billion in assets, also said in another filing that it ramped up its stake in that company’s rival, Autohome Inc., to 18.5 percent, or more than $300 million.
21Vianet Group Inc. Issues Second Response to Short Seller's Allegations
21Vianet Group, Inc. 10 minutes ago GlobeNewswire
BEIJING, Sept. 18, 2014 (GLOBE NEWSWIRE) -- 21Vianet Group, Inc. (VNET) ("21Vianet" or the "Company"), the largest carrier-neutral Internet data center services provider in China, today posted its second response to a short seller's allegations on its Investor Relations website, a copy of which is attached.
21Vianet rejects the baseless allegations published by this short seller, who is once again spreading false and malicious statements about the Company. 21Vianet is fully committed to comply with all applicable SEC rules and regulations.
Avg Vol (3 month)3: 567,048
Avg Vol (10 day)3: 350,643
Shares Outstanding5: 31.24M
% Held by Insiders1: 21.36%
% Held by Institutions1: 18.40%
Shares Short (as of May 30, 2014)3: 4.65M
Short Ratio (as of May 30, 2014)3: 9.40
Short % of Float (as of May 30, 2014)3: 23.30%
Shares Short (prior month)3: 4.73M
Late Monday, Pacific Crest Securities upgraded 21Vianet stock to outperform from sector perform, with a price target of 30.
"Recent concerns over business profitability, balance sheet health and business acquisitions have weighed on the stock. We believe those concerns are overdone," wrote Pacific Crest Securities analyst Cheng Cheng. "In addition to hosting services, we also see an emerging opportunity in cloud services through a partnership with Microsoft (NASDAQ:MSFT)."
8:02 am Sky-mobi announces strategic partnership with China Telecom (CHA); will provide customized software for physical stores (MOBI) :
Co announced that it, through its controlling subsidiary Mopin Technology Co., Ltd., has entered into a strategic partnership with E Surfing ("Tianyi"), China Telecom's mobile internet services platform.
Under the terms of the agreement, Sky-mobi has been designated as an official business partner with China Telecom to provide customized software services at China Telecom's network of physical stores nation-wide.
The cooperation spans a wide array of services which include mobile assistant services, product introduction and installation, operational support and data analytics, as well as software tutorials for China Telecom's sales staff
Thanks, I just felt it was hit to hard to fast, and who is Trinity? and what makes this short seller an expert. Reminds me a little of HLF
NEW YORK (TheStreet) -- Shares of 21Vianet (VNET_) surged 28.61% to $19.96 on Friday to recover its major losses from earlier in the week after Morgan Stanley (MS_) defended the company's core business despite fraud allegations.
The firm reiterated its "overweight" rating with a $35 price target on Thursday after the company held a conference call to respond to the claims. Morgan Stanley said 21Vianet's core business is still intact and values it at $1 billion, or $15 per ADS. The firm also sees upside as management clarifies some disputed items.