Chinese tycoons team up, sell James Bond's favorite yachts to super-rich pals

China's mega rich are not content with flash handbags and yachts. Now they actually buy the firms making the goods. Photo: Bloomberg

China's super-rich who have made big fortunes over the past few decades in business are now keen to acquire ultra luxurious assets after already buying so-called "hard luxury" goods like Hermes bags and Patek Philippe watches.

Wednesday, 26 June, 2013, 8:35am

Internet M&A heats up with Sohu, PPTV talk

I've written too much about neglected web portal Sohu recently, but the latest rumours of a potential tie-up between the company and PPTV, operator of one of China's leading video websites, are just too irresistible for me to ignore.

15 May 2013 - 2:13pm

Baidu bets on video with PPS buy

Baidu has been trying to diversify beyond its core search business for the last few years, but most of its ventures in areas like social networking (SNS) and e-commerce have flopped. Photo: Reuters

Local media have been buzzing these past few days with word that online search leader Baidu is on the cusp of clinching a deal to buy video sharing site PPS, in a move that would instantly create a solid new number-two player in China.

30 Apr 2013 - 11:25am

Simcere to de-list, Vipshop adds shares

A week after shares of Internet portal Sohu went on a roller coaster ride on rumours of a de-listing plan that the company later denied, we're getting word that drug maker Simcere Pharmaceutical is launching the latest privatisation plan by a US-listed Chinese firm.

12 Mar 2013 - 1:11pm

Sohu sales outlook beats estimates as ads revive

The Sohu company's office in Shanghai. Photo: Bloomberg

Sales would probably be US$290 million to US$299 million, the Beijing-based company said in a statement yesterday. That compares with the US$280 million average of analysts' estimates and revenue of US$226.6 million a year earlier.

5 Feb 2013 - 5:28am

Communist Party is giving more power to members working in Beijing internet companies

Sina Corp's Party committee's microblog account on Sina's own Weibo microblog platform.

The Communist Party (mainly through Baidu) is represented by 2,680 Party members in Beijing's many internet companies, and late last year it decided it wants to have control over a lot more - starting soon with major players Sohu and NetEase.

11 Jan 2013 - 12:16pm

Sohu: China's biggest little net firm

Photo: Bloomberg

I had to smile this morning when I read the latest reports on Sohu (Nasdaq: SOHU), one of China's oldest web firms, which I'm officially christening as "China's biggest little internet company" following word that it plans to make an IPO for its Sogou search engine. If readers note some sarcasm in my tone, it's certainly there.

8 Nov 2012 - 3:48pm

Briefs, November 6, 2012

Sohu profit drops 20 per cent in third quarter.

China Agri-Industries plans rights issue

6 Nov 2012 - 4:24am

Sohu goes on spending spree despite profit fall

Mainland internet media, gaming and search giant plans to continue making 'heavy investments' this year despite a sharp fall in second-quarter net profit.

15 Aug 2012 - 11:07pm

Mainland web giants to buy video content jointly

Mainland internet giants Sohu, Tencent and Baidu are teaming up to buy video content together, in the hope of beating down the price.

The three firms said the copyright cost of an episode of new television soap operas hit 'a million yuan' (HK$1.23 million) last year, up from 'tens of thousands of yuan' in 2009.

25 Apr 2012 - 12:00am

Acquisition costs slash Sohu profit

Mainland internet media, gaming and search giant said yesterday that charges related to acquisitions caused a 39 per cent fall in net profit last quarter, despite record turnover over the period.

7 Feb 2012 - 12:00am

Changyou buys up gaming news site, a leading mainland online games developer and operator, has agreed to pay US$162.5 million in cash to acquire gaming news portal from parent company

The transaction, which is expected to close this month, marks the second major acquisition this year by Nasdaq-listed Changyou.

1 Dec 2011 - 12:00am

Sohu sees bright 4th quarter after record turnover

Mainland internet media and entertainment giant Sohu forecasts a new high in quarterly revenue at the end of this year, riding the momentum gained from its record turnover in the third quarter.

1 Nov 2011 - 12:00am

Sohu pushes expansion of games business after 48pc profit surge, which posted better than expected earnings in the first quarter, aims to accelerate expansion of the online games business run by subsidiary with a strategic US$100 million acquisition on the mainland.

26 Apr 2011 - 12:00am

New game powers doubling of Sohu earnings, the mainland's second-largest internet portal, has more than doubled its fourth-quarter profit, driven by its new online game, Tian Long Ba Bu.

The company said profit rose to US$15 million from US$6 million a year earlier, as revenue grew 90 per cent to US$65 million. About 33 per cent of revenue, or US$22 million, came from the free-to-play title.

6 Feb 2008 - 12:00am