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(DOC) Fosun

By Glenn Gordon,2014-07-22 02:59
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Fosun

    Fosun

    ;AccordingtoChinaDailyreportsonSeptember9,the ;ChineseonlineretailerJingdongMallIncissettokickoff ;anIP0processthatcouldbethemostdaringbetyetonUS ;investors’appetiteforChinesestocks.

    ;Thecompany,whichisalsoknownbythenameof

    ;360buy.com,planstoraiseUS$4biNiontoUS$5billioninan ;IPOtentativelyscheduledforthefirsthalfof2012.according ;t0IFR.aThomsonReuterspublication.

    ;AnIPOofthatsizewouldsurpassGoogleInc’sUS$1.9

    ;billionIPOin2004asthe1argestInternetfloatintheUnited ;States,accordingtoThomsonReutersdata.

    ;TherampuptotheIP0comesastheUSIPOmarket

    ;hasbeenstrugglingamidvolatilitytriggeredbyEurope’sdebt

    ;crisisandaweakdomesticrecovery.Anumberofdealswere ;withdrawnlastmonth.

    ;ItalsocomesassomeUS-listedChinesecompanies

    ;mainlythosethatlistedonUSexchangesthroughreverse ;mergers-havebeentaintedbyallegationsoffraudulentac-

;counting.

    ;“Rightnow,USinvestorsareverycautiousaboutChi-

    ;neseIPOs.ThefactthatsomeofthoseIPOslikeLongtop ;basicallyhavedefaultedinthelastfewmonthsobviously ;taintsthewatersforalloftheotherChineseIPOs,”saidJosef

    ;Schuster,founderofChicago-basedIPOresearchandinvest- ;mentfirmIPOXSchusten

    ;Establishedin2004,JingdongisChinassecondqargest ;onlineretailerbehindTaobao,accordingtothelatestresearch ;fromAnalysysInternationa1.

    ;SomeanalystsaredoubtfulabouttheabilityofChinese ;e-commercecompaniestomakeaprofitintheneartermbe

    ;causeofthehugemarketfragmentation.

    ;Jingdonghasabout15millionregisteredusers.Itisnot ;currentlyprofitable.butfounderandCEoLQiangdong ;saidthecompanyisexpectedtobecomeprofitableinthesec- ;ondhalf0f2012.

    ;Jingdong’srevenueisexpectedtoreach28billionyuan

    ;(US$4.4billion)bytheendof2011,upfrom10billionyuan ;attheendof2010.

    ;~ngdongraisedUS$1.5billioninathirdroundoffund

    ;inginApril,whichvaluedthecompanyatUS$10billion,

    ;IFRsaid.Russia’sDigitalSkyTechnologiesandTigerFund ;areamongtheinvestorsinthecompany.

    ;DellIncispartneringChinastopsearchengineBaidu ;Inctodeveloptabletcomputersandmobilephones,targeting ;theChinesemarketnowdominatedbyAppleIncandLe

    ;novodevices,accordingtoChinaDailyonSeptember6. ;Chinaisoneofthefastestgrowingmarketsfortablets ;andishometomore

    ;than900million

    ;mobilephonesub

    ;scribers.Analysts

    ;saidthetieupcould

    ;beDe11’swayto

    ;reviveitsflagging

    ;tabletbusiness.

    ;“Isuspectthis

    ;isjustDell,whohas

    ;alotofproblems

    ;onthemobileand

    ;tabletfront,graspingatstrawstogetanykindofpublicity ;thatitcantomakeitsproductmoreattracti’ve,”saidMichael

    ;Clendenin,managingdirectoroftechnologyconsultancy

;RedTechAdvisors.

    ;“UltimatelyinChina,IstillthinkitisApple’sgame,

    ;stillfortheiPadandiPhone.”

    ;BaiduisoneofChina’sbestknownbrandsandamob~e

    ;phoneortabletcarryingtheBaidunamewillbeabletolever- ;ageonthatrecognitionalloverChina,analystssaid. ;Delldeclinedtogiveatimelineforthelaunchofthe ;devices,butlocalmediareportedonSept6,quotingsources, ;thatitmaybeasearlyasNovember.

    ;“WhaveapartnershipwithBaiduandyouknowwe

    ;havetheStreak5tablet,sothepartnershipwillbeinthat ;space,”aDe?spokeswomantoldReutersonSept5,adding ;thatbothcompanieswerealsocooperatingonthemobile ;handsetfront.

    ;Deli’sStreak5tabletisafive-inchAndroid-basedtablet

    ;thatwasdiscontinuedintheUnitedStateslastmonth. ;China’sprivateFosunGroupandPrudentialFinancial

    ;Inc(PFI)havewongovernmentapprovaltolaunchanewlife ;insuranceiointventurecompany,asreportedbyChinaDailv ;onSeptember16.ItwillbeChinason1vlifeinsuranceioint ;venturebetweenaprivateenterpriseandaforeigninsurer. ;Fosunsaidthe50-50iointventurewillstartwithregis

    ;teredcapkalof500millionyuan(US$78million)witheach ;companyproviding250millionyuan.1he{ointventurewinbe ;headquarteredinShanghaiandmainlyfocusontheChinese ;market.Operationsareexpectedtobegininthefourthquarter ;of2012,followingfina1approvalfromtheChinaInsurance ;RegulatoryCommission(CIRC)andotherauthorities. ;China’sinsurancemarkethasseenyearsofrapidgrowth.

    ;butpenetrationanddensityarestillfarbelowtheaverage ;globallevel,indicatinggreatgrowthpotentia1.Accordingto ;theCIRC.1ifeinsurancepremiums(includinghealthand ;personalaccidentinsuranc~amountedto1.06trillionyuan ;in2010.

    ;Fosun,Shanghai’slargestprivateenterprise,wasfound—

    ;edin1992.Itscurrentareasofinterestincludepharmaceuti

    ;calsandhealthcare,property,steel,miningandretaihng. ;

    ;

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