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Baidu to Announce 2011 Q3 Earnings After the Bell

Chinese search engine Baidu (BIDU) will announce Q3 earnings this evening.  Recent rumors involving the Chinese government’s position on variable entities effecting stocks to be traded oversees  as well as Muddy Waters CEO accusation that Baidu was manipulting finance reporting has added to its volatility in recent weeks. Despite the turbulent past few weeks, Baidu is closing with a strong day, north of $137 heading into earnings this evening.

 

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Xunlei is the Latest Chinese Tech Company to File for an IPO

Shenzhen Xunlei Network Technology Ltd., a Chinese video and music sharing platform, filed for it’s IPO and plans to raise $114 million by selling 7.6 million shares in an expected price range of $14-$16.

Xunlei, which will trade under ticker symbol XNET was founded by Zou Shenglong and Cheng Hao – two computer engineers from Duke University in 2003 and obtained startup funding from Vantage Point, Morningside, IDG, Ceyuan Funds and Google. Xunlei launched its digital media platform in 2004, and launched a streaming video portal in 2007.

Tang Yizhi, an analyst at Analysys International declares “The company’s strength is in its technology. It’s able to serve up high-definition videos to users,” Tang added “It has more diversified services than a site like Youku, which is focused on online videos.”

Xunlei generates the majority of its revenue from selling online advertising, but its subscription services has been growing as well. Net revenue has increased from $17 million in 2008 to $43 million in 2010. Net revenue doubled to over $14 million in Q1 2011.

Xunlei

The lead underwriters for Xunlei are J.P. Morgan and Deutsche Bank. The stock is expected to publicly trade on July 20, 2011.  For those who are wondering, Xunlei is said to translate to “Thunder Bolt” or “Swift Thunder.”

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Chinese Social Networking Company Renren IPO Set for Wednesday

Renren, China’s largest social networking site is ready to make its largely anticipated IPO debut today and plans to sell 53.1 million American Depositary Shares for $12-$14 each, according to a recent filing with the U.S. Securities and Exchange Commission.

It should be a good day for Renren IPO investors. In a recent development, however, a member of their board who led their audit committee has just resigned under cloudy circumstances, which raises a lot of important questions.

While Renren currently has the lionshare of the market in China, an entrance by Facebook, could spell trouble for stockholders in the future if Facebook can successfully enter China.

Renren will list on the New York Stock Exchange under the ticker symbol RENN. The lead underwriters for Renren are Deutsche Bank, Credit Suisse and Morgan Stanley.

RenrenCompany Website: http://www.renren.com/

 

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21Vianet Group on Rollarcoaster Ride

21Vianet Group (ticker: VNET) priced its IPO at $15 last Thursday and reached highs of $22.33, providing IPO participants and early day investors a few hours to take their profits. Just 4 days of volatility later, VNET dipped down to $15.80.

With original expectations to price between $10-$12, and the success of cloud computing companies, is another buying opportunity presenting itself  near its IPO price of $15 or is there a larger window?

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21Vianet Group Looking for Sky High IPO

21Vianet Group is the latest Chinese IPO that is scheduled to begin trading under ticker VNET this Thursday as it makes its Nasdaq debut.

21Vianet Group is an Internet data center that hosts servers & networking equipment for more than 1,300 companies, providing inter-connectivity designed to  improve the performance and security of Internet infrastructures through cloud computing. 2010 Company sales increased 67% to $80 million vs 2009 sales.

The company is looking to raise $138 million and the IPO is expected to be priced between $10 and $12. The lead underwriters of 21Vianet Group are Morgan Stanley and Barclays.

Cloud computing stocks have been hot lately as have Chinese technology stocks, which should make for a very exciting IPO.

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The Facebook of China IPO RenRen is Weeks Away

Renren Inc., the largest social networking site in China, has filed to raise as much as $500+ million in an initial public offering expected to debut in mid-May 2011 and will trade under the ticker symbol RENN.

According to the U.S. Securities and Exchange Commission filing, Renren is planning to sell $53.1 million American depositary receipts for $9 to $11 each in its IPO.

The word “Renren” translates to “everyone” in Chinese and is the site is the most popular social networking site in China.  Many US investors are comparing it to the Facebook of China, and it appears to be the real deal. The official filing came just weeks after rumors of partnership talks with Facebook Founder Mark Zuckerberg and Baidu, the leading search engine in China had surfaced.

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Quihoo 360 adds More Heat to Chinese IPO Investments

Qihoo 360 (QIHU) originally priced its 12.11 million share IPO at $14.50 but opened the trading day at $27. It ended its opening day trading at $34 up 135%, reaching intraday highs of $34.40.

Qihoo 360 is a Beijing based company who is a leading provider of Internet and mobile security products in China and developed the second most popular web browser in China, behind Microsoft Internet Explorer.

Qihoo 360 reported 2010 net income attributable to shareholders of 5.5 million dollars, on revenue of 57.7 million dollars. They reported 2009 net income of 2.1 million dollars, on revenue of 32.3 million dollars. UBS Investment Bank and Citi were the IPO underwriters.

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All Eyes on Oak Pacific Interactive IPO

Oak Pacific Interactive may be the biggest chinese IPO to make splash since Baidu. Reuters recently supported earlier speculation that The Chinese company Oak Pacific Interactive is working with Credit Suisse and Deutsche Bank to underwrite a 2011planned IPO. Morgan Stanley has reportedly also been added to the mix.

Oak Pacific Interactive runs RenRen, the top social networking site in China as well as Nuomi.com, one of the top group buying site’s in China. Naturally US investors have tagged these sites as the “Facebook of China” and the “Groupon of China.”

While both Facebook and Groupon are trying to enter China, Oak Pacific Interactive will be the company to beat in China given their existing marketshare.

Given the nature of Facebook, and a dominant role of censorship in China, the Chicago based company Groupon may poise a larger threat to Oak Pacific Interactive’s marketshare if Groupon can successfully move forward with expansion into China.

With recent IPO focus on sites like Groupon and Twitter along with pre-IPO share trading through sites like SecondMarket.com, Pacific Oak Interactive may fly just low enough under the radar to steal the show for early investors.

Tip: Its tough for the little guy to get into IPOs, but Fidelity Investments has a partnership with Credit Suisse which may provide entrance to the show for traders who average just 30+ trades a year or for traders with portfolios exceeding $100,000.

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Baidu Exceeds Analyst Estimates – Investors Resist Selloff

Chinese Search Engine Baidu (BIDU) reported better than expected earnings earlier this week at a .52 EPS, beating analyst estimates of .42 – .46 EPS. Fourth quarter revenue has nearly doubled and net profit has more than doubled.

Shares of BIDU were trading under $108 to begin the week, but after the announcement on Tuesday, shares jumped during extended hours trading and the buying momentum carried over to Wednesday where BIDU hit a new 52 week high of $119.21.

Shares of BIDU have resisted trade off (for the most part) and closed the week trading at $117.68.

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Baidu to Announce 2010 Q4 Earnings This Evening

Chinese Internet Search Engine Baidu (BIDU) will announce 2010 fourth quarter earnings this evening. Baidu now dominates the market as the most popular search engine in China, after Google exited the country citing concerns of government sponsored hacking attempts.

Baidu experienced tremendous growth in 2010 due in part to Google’s departure. The street is supposedly looking for an EPS in the $0.42 – $0.46 range and have concerns about rising operational costs. A year ago, their EPS was $0.18.

While growth is not likely to repeat with this type of momentum in 2011, search engine online advertising revenue is once again expected to increase globally – especially in China. Will the Year of the Rabbit bring good luck to Baidu again in 2011? Check out their past 12 months.

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