Category: News of China

06/24/16

Permalink 10:54:41 am, by dacare, 449 words, 53 views   English (US)
Categories: News of China

Huawei 'plans to create proprietary OS' to lower reliance on Android

Telecommunications giant Huawei Technologies Co is undertaking a confidential project to develop its own operating system (OS), domestic news portal sina.com reported on Thursday, a move expert said aims to reduce its reliance on Google's Android OS and capture overseas markets.

Technology news sites have reported rumors circulating in the industry that Google might strengthen its control of the Android system over third-party devices or restrict original equipment manufacturers' (OEMs') use of functions and supporting services within the Android system.

Android OS has been a free, open-source software for years, and Google allows OEMs to customize and adjust its functions as they wish.

If Google is changing its policy on Android, then Huawei should come up with an alternative to avoid being plunged into an embarrassing situation, the sina.com report noted.

That's a major reason for Huawei's reported pursuit of its own OS, and it also explains why South Korea-based Samsung has released a mobile OS called Tizen.

Also, Huawei is pursuing expansion in overseas markets, especially in the US and Europe, where it faces strong competitors like Apple and Samsung in the mobile industry, expert said.

"Huawei's increasing revenues give it the capital to develop a unique OS that is resembles neither Android nor [Apple's] iOS, while meeting the demand of Western consumers," Wang Yanhui, secretary-general of the Mobile China Alliance, told the Global Times on Thursday.

In line with the company's development goals, former Apple creative director, Abigail Brody was hired by Huawei in 2015 as the chief user experience designer.

Huawei didn't respond to an interview request from the Global Times as of press time.

Media reports indicate that the OS project is still in its infancy, with a team in Scandinavia that includes former Nokia engineers.

Although innovative strides made by Huawei make the project's future a bright one, Wang also warned that it will take time to develop an entirely new OS.

"Any mobile OS relies heavily on its ecosystem. Currently, almost all the mobile applications have two versions - Android and iOS. But are they willing to develop a new and unique version for Huawei?" Wang said.

"So Huawei will opt to apply the OS first on its smartwatches and bands, and then gradually to other consumer electronic products like set-top boxes and finally to its mobile," Wang noted.

In 2015, Huawei's research and development spending increased 46.1 percent year-on-year to 59.6 billion yuan ($9.2 billion), accounting for 15 percent of its sales revenue, its financial statements show.

The company also leads in terms of international corporate patent filings with a record of 3,898 filings in 2015, topping the global list for the second consecutive year, according to the Xinhua News Agency, which cited the World Intellectual Property Organization.

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06/22/16

Permalink 11:06:46 am, by dacare, 279 words, 62 views   English (US)
Categories: News of China

Chinese e-commerce giant JD.com,Wal-Mart partner to expand business

China's second largest e-commerce platform JD.com partnered with global retail giant Wal-Mart with the latter trading its China online unit for JD.com's stakes, a strategic step expected to expand Wal-Mart's reach to more Chinese customers.

Under the deal, JD will take ownership from Wal-Mart Stores of the Yihaodian brand, website and app while giving about a 5 percent equity stake to Wal-Mart, worth about 1.5 billion U.S.dollars at JD's current valuation, the company announced Monday night.

The deal is expected to give Wal-Mart access to JD's online traffic and bolster its presence in the extraordinarily lucrative, but increasingly competitive, online marketplace.

Wal-Mart Sam Club China will open a flagship section on JD.com, and both companies will leverage their supply chains and broaden the range of imported goods to meet the growing demands from increasingly affluent and quality-oriented Chinese consumers.

In a statement issued Monday, Wal-Mart CEO Doug McMillon said JD had "complementary business and was an ideal partner."

Yihaodian has a strong presence in eastern and southern China, selling food and beverages, home goods and electronics.

JD chief executive Richard Liu expects the alliance to help improve the customer experience and boost business for Yihaodian thanks to JD's logistics capabilities and wide range of products.

JD has nearly 6,000 delivery and pickup stations in about 2,500 counties and districts across China, with a huge customer base and an outstanding same-day delivery network.

The company launched a 20-day long online shopping promotion campaign starting from June 1 to June 20, which received orders worth over 100 million yuan, about 85 percent of transactions were on mobile devices.

The NASDAQ-listed Chinese online retailer saw its shares surge nearly 8 percent before trading was halted Monday.

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06/21/16

Permalink 10:31:03 am, by dacare, 95 words, 50 views   English (US)
Categories: News of China

Volkswagen to produce more electric cars in China

Volkswagen China said on Monday that it expects electric vehicles to account for up to 25 percent of its total auto production by 2025.

Vehicles driven purely by electricity will sell two to three million units by 2025 as Volkswagen expands its electric vehicle line to over 30 models in the next 10 years.

Batteries for electric vehicles could emerge as a new source of income, the automaker said, adding it is evaluating the research needed and potential income.

The automaker will continue to expand its business in China, such as customized auto services either through in-house research or acquisition.

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06/20/16

Permalink 01:32:50 pm, by dacare, 568 words, 57 views   English (US)
Categories: News of China, Investing in China

Large shareholders selling spree spooks retail investors

A number of companies listed in Shanghai and Shenzhen have been reducing their holdings since the beginning of May, according to disclosures to the bourses concerned.

Market observers said this paring of holdings may dent small investors' confidence and hurt prices of the stocks concerned.

In the first seven trading days this month, large shareholders sold 543 million shares worth 14.02 billion yuan ($2.13 billion) in various companies, according to the China Securities Journal.

This almost matched similar selling through all of May, which saw big shareholders' sales of 435 million shares worth 14.43 billion yuan.

Each large shareholder holds more than five percent in a company's stock.

According to the Journal, 45 companies, through 52 filings, disclosed large shareholders' plans to sell 1.216 billion shares worth 29.14 billion yuan or $4.43 billion.

They will sell these shares gradually in three months to a year as per regulations. A big shareholder is required to disclose any substantial paring of its holding and complete such sales within a given timeframe.

Since the beginning of May, big shareholders in nine companies listed in Shanghai and Shenzhen disclosed that they are going to sell all their holdings. Among them, three firms will see big shareholders selling shares worth more than 1 billion yuan within 12 months.

Many of the companies that are seeing selling by large shareholders are small- to medium-cap enterprises in emerging sectors such as biochemicals and high-tech.

For instance, Shanghai Hile Bio-Pharmaceutical Co Ltd, a drugmaker, has seen heavy selling in their counters.

On May 3, the first trading day of the month, shares in Hile Bio-Pharma closed at 42.97 yuan in Shanghai. But by June 1, they fell to 16.37 yuan. They closed at 15.22 yuan on Friday, marking a 65 percent decline since May 3.

Although the meltdown is attributable to the automatic price shrinkage due to the company's 13-for-10 stock split on May 4, the large shareholders' selling is also believed to be a major factor.

A research note from Ping An Securities said quite a number of companies in emerging sectors listed recently, suggesting that large shareholders may be exiting to secure their gains.

Citing filings, analysts attributed the selloff to big shareholders' desire to stay liquid.

A research note from Chang Xin Asset Management said recent paring of holdings had a limited impact on the A-share market so far, given the small size of sales relative to the whole market. But small investors holding shares in these stocks may feel the pinch due to falls in prices.

Zhang Shaofen, 56, a Shanghai-based small investor, said it is understandable if big shareholders like institutional investors reduce their holdings to boost their liquidity. But, if individuals such as company founders or senior executives, or their family members, are behind such sales, it could mean they are cashing out or eager to get rid of the company's shares for some reason.

"Usually, individual large shareholders have close knowledge of a company's profitability, operations and financial situation. If such individuals sell shares in bulk deals, small investors may interpret the move as a sign of erosion of confidence in the company's future."

But brokerages said block deals do not necessarily mean big shareholders are giving up on the company or that they are cashing out or exiting for good.

A research note from Guangfa Securities said some block deals could well be in anticipation of possible mergers and acquisitions. M&A activity usually stands a better chance of success when the equity structure is clear and simple.

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06/17/16

Permalink 12:00:30 pm, by dacare, 175 words, 116 views   English (US)
Categories: News of China

Didi Chuxing nets $4.5b to fight off rivals

China's most popular ride-hailing application Didi Chuxing said yesterday that it netted $4.5 billion in fundraising in its latest financing round to help it fight both foreign and domestic rivals.

The investors included Internet giants, state-owned enterprises and private firms such as Apple, China Life and Ant Financial, together with existing investors Tencent, Alibaba, China Merchants Bank and SoftBank.

The proceeds will be used to upgrade technology, Big Data research and operations to improve rider and driver experience, as well as exploring new businesses and opportunities.

"Didi is prepared to continue this momentum of growth with advantages in technology and platform synergies," founder and Chief Executive Officer Cheng Wei said in a statement.

This marked the second financing round after Didi and Kuaidi, the two former leaders in the ride-hailing sector in China, merged to form Didi Chuxing in early 2015.

Didi Chuxing raised over US$3 billion in a previous fundraising exercise in September.

Didi said it handles an average of 14 million rides through its platform daily, serving close to 300 million users in more than 400 Chinese cities.

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06/16/16

Permalink 11:25:07 am, by dacare, 428 words, 56 views   English (US)
Categories: News of China, Manufacturing & Industry

Shanghai Zhenhua bets on automation


Shanghai Zhenhua Heavy Industries Co Ltd's booth at the China International Offshore Oil and Gas Exhibition in Shanghai.

ZPMC sees high-tech port terminals as the key to its long-term growth prospects

In less than 24 years, Shanghai Zhenhua Heavy Industry Co Ltd has developed into the world's largest port machinery manufacturer. Its plan for the next decade is to make automated container terminals a new growth engine of the company.

"ZPMC is now trying to focus a great amount of resources on automatic terminals, and we expect this sector to bolster our development in the coming decade," said Song Hailiang, chairman of ZPMC and vice-president of China Communications Construction Co Ltd.

According to Song, the future of terminals lies in unmanned technology. Through remote control, intelligent container terminals will have better performance and lower operational costs than traditional ones.

"ZPMC won't miss this great revolution. The development of automated terminals will be able to combine ZPMC's existing core business of steel cranes and related services with more diversified development," he said.

The Shanghai-listed company has already made its mark in the automated terminal sector as it is currently constructing the automated terminal project of Qingdao Port and the fourth phase of the Yangshan Deep-water Port in Shanghai.

In addition, the nation's first automated container terminal built by ZPMC at Xiamen Ocean Gate Container Terminal is under trial operation.

Furthermore, the company also received orders for automated terminals from Rotterdam World Gateway in the Netherlands and the Italian port of Vado Ligure, while 36 sets of port equipment went into service at the automated Long Beach Container Terminal in California in the United States in April.

"All the lifting equipment of the $1.2 billion investment LBCT automated port, including 14 quay cranes (shore bridges), 70 automated rail cranes, and five automated railway crane, will be delivered by ZPMC around 2019," said Song.

The firm's first order from Hamburg terminal CTA in 2000 for four cranes is regarded by Song as a landmark of the company.

All the achievements were made through persistent research and development. For more than two decades, ZPMC has kept allotting more than 3 percent of its revenue to its R&D department which now has expanded to more than 2,000.

ZPMC's reputation hit a peak during Premier Li Keqiang's trip to the China (Shanghai) Pilot Free Trade Zone in November 2015. The premier encouraged the group to realize breakthroughs and marketing promotion in automated port technology and grasp the opportunity of the national plan "Made in China 2025" issued to upgrade the country's industry.

In 1992, ZPMC was founded in Shanghai as a heavy-duty equipment manufacturer.

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