On April 17th, Sina Weibo and Sina Leju both listed in the US, one on NASDAQ and one on NYSE. Weibo is doomed to suffer a lot and possibly drop below its IPO price one day for three reasons. Weibo’s stock price at the opening was below its issue price of $17, and Leju dropped below its issue price of $10 ten minutes after the opening of the market. But they are still in the danger, especially Weibo, who is doomed to suffer a lot and drop below its IPO price one day for three reasons.
Weibo went public on NASDAQ and its shares closed at $20.24, rising $3.24 or 19.06% from the issue price; The China Banking Regulatory Commission and the People’s Bank of China publish new regulations on the cooperation between commercial banks and third-party payment agents; Zhongxing Telecom Equipment’s revenue in 141Q came in at 19.05 billion yuan, YoY increase of 5.51%; net profit at 622 million yuan, YoY increase of 203.51%; Shenzhen QVOD Technology Co.,Ltd. announced to start its business mode transformation and to close its server; Leju went public on NYSE yesterday as “LEJU”, whose shares closed at $11.86, rising by 18.60% from the issue price.
Air China started its broadband service by offering to the passengers on two flights taking off from Beijing and Chengdu yesterday; “China was the key market for iOS App Store growth, showing exceptional gains in both downloads and revenue,” says App Annie; Shang Fulin, Chairman of China Banking Regulatory Commission (CBRC), posted an article on the Qiushi magazine writing that financial regulators must say no to irregular financial innovation; Shen Haoyu will become the CEO of JD mall and Liu Qiangdong is still the CEO of the whole JD enterprise.
“The most effective way to intervene in the market is the anti-corruption campaign. High-level restaurants and luxury goods have been affected by it. The housing market can’t be spared,” said Wang Shi, the chairman of China Vanke.
Yesterday Baidu officially launched its mobile payment product “Baidu Wallet” with its most compelling function “Photo-pay”; Ctrip CEO Liang Jianzhang and Qunar CEO Zhuang Chenchao both sent an e-mail to their staff claiming their leading position in the incorporation yesterday; According to Yahoo’s 1Q14 financial report released on Tuesday, Alibaba’s total revenue in 4Q13 came in at 3.058 billion USD, rising by 66% YoY; the net profit came in at 1.363 billion USD, rising by 110% YoY.
Today, China’s first Bitcoin ATM launches in a café in Zhangjiang, Shanghai. ”It’s more like a vending machine,” said Li Qiyuan, CEO of Bitcoin China; Yesterday JD.com filed F1-A with SEC, disclosing that JD had decided to list on NASDAQ Global Select Market or NASDAQ with the code “JD”; Yesterday afternoon Woqu.com, an online service platform focusing on DIY tour in the U.S., announced that it had received an angel investment of a couple of million USD from Morningside Ventures; Luo Yonghao, founder of Smartisan Technology Co., Ltd. said on Weibo yesterday that Smartisan has finished its B round of financing of 180 million yuan.
China’s digital map company AutoNavi (Nasdaq: AMAP) has recently confirmed the agreement with Alibaba on the purchase of 1.45 billion USD; The first and current largest online cosmetics shopping mall in China, Jumei.com, filed for an IPO in the US last Friday; The selling of JD’s first mixed type of fund product “JD8.8” will start tomorrow; According to a survey conducted on HorizonKey.com, nearly 80% Windows XP system users said they didn’t feel like disusing XP system.
Generally, it is believed that the regulations are imposed for the purpose of suppressing internet finance and ensuring the benefits of traditional banks. So the important questions might actually be, is it justified to regulate internet finance in a way stricter than traditional finance?
Elon Mask has been showing great confidence in the development of Tesla in Chinese market. However, up to today, Tesla is still off the list of new car sales catalogs posted by MIIT. The 3C certificate acquired by Tesla in February is only one of the necessities Tesla needs to legally sell cars in China. In spite of that, it also faces such predicament as charging point, license and regional protection.