Chinese online travel service provider eLong Inc. reported its unaudited financial results for the first quarter ended March 31, 2011, and said Tencent made a strategic investment in the company. Chinese online gaming and instant messaging firm Tencent Holding Limited yesterday made a strategic investment in eLong, acquiring approximately 11 million newly-issued shares for USD84 [...]
Chinese online and wireless media company Sina Corporation says its profit fell on higher costs as it announced its unaudited financial results for the first quarter ended March 31, 2011. For the first quarter of 2011, Sina reported net revenues of USD100.2 million, compared to USD85.0 million for the same period last year. Of that [...]
Chinese Internet company Tencent has announced that it will implement a strategic investment in the well-known film and entertainment group Huayi Brothers Media. The investment will be reportedly completed via the large-scale trade platform of Shenzhen Stock Exchange. Tencent will invest CNY450 million to obtain a 4.6% stake in Huayi Brothers, making it the largest [...]
3M plans to invest USD10 million to build a new research and development center in the northern part of Taiwan. According to George Buckley, chief executive officer of the company, this move is expected to help promote 3M's future investment in Asia. Joe Liu, vice president of business development for 3M Asia Pacific and China, [...]
Canada-based BlueCat Networks announced it is investing an undisclosed amount of funds in Asia Pacific as part of its continued expansion in the region. With its customer base in China growing rapidly, BlueCat Networks has started its investment by opening offices in Beijing and Shanghai. The offices will be tasked with meeting the demand for [...]
ZTE Corporation announced that it has signed purchase agreements with five U.S. technology vendors at total value of USD3 billion. Under these framework agreements, ZTE will purchase semiconductor components from Qualcomm, Texas Instruments, Freescale Semiconductor, Altera Corporation, and Broadcom over the next 3 years. "As a publicly traded and transparent company with more than 18.72% [...]
Microsoft China and the municipal government of Jinan have signed a three-year strategic memorandum of understanding to implement comprehensive cooperation in cloud computing, talent training, outsourcing, and protection of intellectual property, and the technology company will set up a new branch in Jinan. Under the memorandum, Microsoft will establish a new subsidiary in Jinan to [...]
Chinese online gaming firm The9 has announced that it plans to introduce the game-oriented social networking site OpenFeint into the Chinese market before the end of 2010. At the beginning of July 2010, The9 reached an investment agreement with Aurora Feint, an American mobile game developer and the developer and operator of OpenFeint, and the [...]
According to Telefonica, the leading telecommunications operator in the Spanish- and Portuguese-speaking world, the company has completed its stock swap with the Chinese telecom operator China Unicom. Under the agreement signed by Chang Xiaobing, chairman of China Unicom, and Cesar Alierta, chairman of Telefonica, in Beijing at the beginning of September 2009, the two parties agreed [...]
Taiwan-based Hon Hai Precision Industry has announced plans to invest at least USD1 billion to build a new plant in Chengdu, capital of Sichuan province. According to Edmund Ding, vice president of Hon Hai, the company has inked an agreement with the municipal government of Chengdu. Ding said this is a part of Hon Hai's long-term [...]
