QUOTE AND NEWS
Reuters  Jul 17  Comment 
China's regulators have told banks to stop providing funding for several of Dalian Wanda Group's overseas acquisitions as Beijing looks to curb the conglomerate's offshore buying spree, sources familiar with the matter said on Monday.
Reuters  Jun 30  Comment 
The race to buy Global Logistic Properties narrowed to between a Chinese consortium backed by the company's management and a rival group led by Warburg Pincus, sources said, as bidders submitted offers for the $10 billion-valued firm.
Reuters  Jun 15  Comment 
China's Anbang Insurance Group, whose chairman was detained late last week, said on Thursday that its products were still being sold through banks, although employees at some lenders said they had stopped selling them, in some cases months ago.
Reuters  Jun 14  Comment 
Standard Chartered aims to expand its U.S. presence with a local hiring push and by bolstering its team in the country with senior staff from its main regions of Asia, the Middle East and Africa, its top bankers said.
Reuters  Jun 14  Comment 
U.S. plans to delay globally-agreed reforms to make banks safer after the financial crisis will throw a system of international regulatory cooperation into confusion, European Union and Asian regulatory sources said on Tuesday.
Reuters  May 12  Comment 
Noble Group Ltd's shares plunged for a second straight day on Friday and have now lost half their value on an unexpected quarterly loss that has raised worries about the struggling commodity trader's ability to its finance its debt.
Reuters  May 3  Comment 
The London Stock Exchange is working on a new type of listing structure that would make it more attractive for oil giant Saudi Aramco to join the bourse, sources familiar with the discussions said.
Reuters  Feb 26  Comment 
Japan's SoftBank Group Corp is close to making an investment in U.S. office-sharing startup WeWork expected to be worth over $3 billion, CNBC reported on Monday, as it expands its reach beyond tech and telecoms.
Reuters  Feb 13  Comment 
China's state-owned Sinochem is in early talks with Noble Group to buy an equity stake in the embattled trader, three sources familiar with the matter said, in a move that would help it gain access to the commodity trader's global supply chain.
Reuters  Jan 15  Comment 
DUET Group has agreed to recommend an increased $5.51 billion bid from a consortium led by Cheung Kong Infrastructure Holdings , in a deal that is likely to test...




 
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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.




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