QUOTE AND NEWS
Reuters  Jul 29  Comment 
Chinese shares bounced back more than 3 percent on Wednesday, as Beijing's latest efforts to prop up values restored a measure of stability to its unruly stock market.
Reuters  Jul 21  Comment 
A dramatic slide in gold prices this week threatens to squash a run of mining mergers and acquisitions just as momentum in the sector was picking up.
Benzinga  Jul 8  Comment 
- dj © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Reuters  Jun 30  Comment 
The volume of Asia ex-Japan mergers and acquisitions surged to a record $640 billion in the first half, preliminary data released by Thomson Reuters showed,...
Reuters  Jun 16  Comment 
Any buyer of Tesco's $6 billion South Korea unit will need a strategy to boost returns in a lethargic and saturated market for traditional retailers, likely involving...
Reuters  Jun 12  Comment 
Italian luxury goods group Prada warned on Friday its profit margin could fall this year if weak consumer spending in Asia persisted, after posting a 44 percent drop in net profit for the three months ended April.
Reuters  Jun 2  Comment 
HSBC Holdings Plc could announce thousands of job cuts at a strategy day next week, Sky News reported on Monday, part of chief executive Stuart Gulliver's overhaul of Europe's biggest bank.
SeekingAlpha  May 23  Comment 




 
TOP CONTRIBUTORS

Kongzhong Corporation (Kongzhong) is one of the leading providers of wireless value-added services in China. The company provides most of its services through 2.5G technology platforms, including wireless access protocol (WAP), multimedia messaging service (MMS), and Java, which offer higher quality graphics, richer content and interactivity compared to 2G wireless services. Kongzhong also offers a range of data and voice services through 2G technology platforms, including short messaging service (SMS), interactive voice response (IVR) and color ring back tone (CRBT). It delivers its services that users can access directly from their mobile phones, including by choosing an icon embedded in select models of handsets, or from a mobile operator's portal or web site. In 2006, revenue from 2.5G and 2G each accounted for 49% and 51% of the total revenue of the company. In 2006, its top three products, SMS, WAP, and MMS business each contributed 41%, 25%, and 22%, respectively, of the company's revenue.

Kongzhong's third quarter results were in line with market expectations. Revenue stopped declining sequentially for the first time in the past five quarters. The Chinese wireless value-added services market has seen increasingly intense competition, and the policy changes from Chinese telecom operators and regulation changes from Chinese government have great effect on Kongzhong's business. Although we are not optimistic about its prospects in the near term due to the tough WVAS operating environment, the company still has enough cash to look for another source of revenue growth in the future. The low P/B ratio of the stock can provide some support for its stock price. Therefore, we are maintaining our Hold recommendation for the stock.




References

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