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Sina Corporation (SINA)

  • Wed, Sep. 16, 2:06 PM
    • The beaten-down Shanghai and Shenzhen exchanges respectively rose 4.9% and 6.5% overnight thanks to late-session surges - many suspect fresh government intervention was responsible. U.S. traded Chinese Web/mobile names have risen sharply (CQQQ +4.4%) on a day the Nasdaq is up just 0.3%.
    • Big gainers include search giant Baidu (BIDU +5.4%), rival Qihoo (QIHU +6.5%), auto sites Bitauto (BITA +6.4%) and Autohome (ATHM +5.3%), travel sites Ctrip (CTRP +7.4%) and Qunar (QUNR +6.5%), online real estate plays SouFun (SFUN +6.1%) and Leju (LEJU +4.5%), and online retailers (JD +4.8%) and Vipshop (VIPS +6.3%). Priceline announced yesterday afternoon it had hiked its Ctrip stake to 11.6%.
    • Other winners include ChinaCache (CCIH +8.1%), Cheetah Mobile (CMCM +6.2%), Sina (SINA +6.7%), Weibo (WB +4.3%), Youku (YOKU +5.7%), and YY (YY +4.1%).
    | Wed, Sep. 16, 2:06 PM | Comment!
  • Thu, Sep. 10, 5:36 PM
    | Thu, Sep. 10, 5:36 PM | 3 Comments
  • Fri, Sep. 4, 2:38 PM
    • A slew of Chinese firms are among the biggest tech decliners as U.S. markets once more go into risk-aversion mode following a weaker-than-expected jobs report. The Guggenheim China Tech ETF (CQQQ -3.3%) is now down 19% YTD.
    • Big decliners include Alibaba (BABA -4.7%), as well as e-commerce peers (JD -6.6%), Vipshop (VIPS -7.9%), and LightInTheBox (LITB -3.8%). Others include Qihoo (QIHU -4.4%), Autohome (ATHM -5.3%), Sina (SINA -4.7%), YY (YY -4.3%), Ctrip (CTRP -4.3%), Qunar (QUNR -4.4%), Wowo (WOWO -5.8%), and iDreamSky (DSKY -5.6%).
    • Yesterday, Bloomberg reported Alibaba founder/chairman Jack Ma and vice chairman Joseph Tsai plan to take out a $2B+ margin loan pledged against their Alibaba stock holdings, rather than sell shares to raise funds. The money reportedly could go towards Tsai's Blue Pool Capital family office.
    • After initially moving higher, Qihoo is now below where it traded before posting a Q2 EPS beat (and not providing any guidance) on Tuesday afternoon.
    | Fri, Sep. 4, 2:38 PM | 37 Comments
  • Mon, Aug. 24, 9:22 AM
    • The Shanghai and Shenzhen exchanges nosedived again overnight as fears of an economic slowdown triggered panic selling, and U.S. futures are off sharply premarket. As one would expect, many U.S.-traded Chinese names are seeing big losses.
    • Baidu (NASDAQ:BIDU) -9.8% premarket. SINA -9.7%. Weibo (NASDAQ:WB) -10.5%. Ctrip (NASDAQ:CTRP) -9.4%. Qunar (NASDAQ:QUNR) -15%. SouFun (NYSE:SFUN) -15.4%. NQ Mobile -10.1%. Qihoo (NYSE:QIHU) -14.7%. YY -9.3%. Bitauto (NYSE:BITA) -8.8%. (NASDAQ:JD) -9.6%. Vipshop (NYSE:VIPS) -15.9%.
    • Alibaba (previous) is down 9.8% to $61.48, making new post-IPO lows along the way. Tencent (OTCPK:TCEHY) fell a relatively modest 5% overnight in Hong Kong.
    | Mon, Aug. 24, 9:22 AM | 12 Comments
  • Thu, Aug. 20, 11:01 AM
    • The Shanghai and Shenzhen exchanges respectively fell 3.4% and 3% overnight as macro fears persist, and the Nasdaq is down 1.5% amid a general flight to safety. The Guggenheim China Tech ETF (CQQQ -3.2%) is once more near a 52-week low of $30.09 (set on July 8).
    • Major Web/mobile decliners include Qunar (QUNR -9.1%), Vipshop (VIPS -4.9%), (JD -4.6%), Qihoo (QIHU -4.5%), ChinaCache (CCIH -6.6%), SouFun (SFUN -5.9%), Sina (SINA -5.7%), Weibo (WB -4.3%), Baozun (BZUN -9.3%), and Wowo (WOWO -3.2%).
    • Jumei (down 22.3%), Youku (down 8%), and (down 4.9%) are seeing steep losses in spite of delivering Q2 beats after the close yesterday. Baozun reported yesterday morning, and Sina and Weibo Tuesday afternoon.
    | Thu, Aug. 20, 11:01 AM | 2 Comments
  • Tue, Aug. 18, 5:41 PM
    • SINA is nearly unchanged after hours after beating Q2 estimates; as was the case last quarter, no guidance has been given in the earnings report. Sina-controlled Weibo (NASDAQ:WB) is up 1.2% after beating Q2 estimates and guiding for Q3 revenue of $120M-$123M, in-line with a $121.9M consensus.
    • Weibo monthly active users (MAUs) rose 7% Q/Q and 36% Y/Y to 212M. Daily active users (DAUs) rose 4% Q/Q and 34% Y/Y to 93M. Mobile MAUs equaled 85% of total MAUs vs. 86% in Q1.
    • Sina: Online ad revenue (boosted by Weibo) rose 13% Y/Y to $176.3M. Non-ad revenue (non-GAAP) rose 21% to $34.7M. Gross margin was 60% vs. 58% in Q1 and 61% a year ago. Operating expenses (non-GAAP) rose 3% to $120.1M.
    • Weibo: Ad revenue rose 47% Y/Y to $87.9M. Value-added service revenue rose 13% to $20M. Costs/expenses (non-GAAP) rose 16% to $98.1M.
    • Sina: Q2 results, PR. Weibo: Q2 results, PR.
    | Tue, Aug. 18, 5:41 PM | Comment!
  • Tue, Aug. 18, 4:31 PM
    • Sina (NASDAQ:SINA): Q2 EPS of $0.06 beats by $0.02.
    • Revenue of $211M (+14.4% Y/Y) beats by $11.22M.
    • Shares +3%.
    • Press Release
    | Tue, Aug. 18, 4:31 PM | Comment!
  • Tue, Aug. 11, 12:27 PM
    • In its latest move to boost slowing economic growth, the PBOC has devalued the yuan, while insisting it's a one-time move. The yuan/dollar ratio is currently at 6.33, down from 6.21 yesterday.
    • A number of Chinese Internet stocks that record the lion's share of their revenue in yuan are seeing their U.S. shares (denominated in dollars, of course) underperform (CQQQ -3.4%) amid a 1.3% drop for the Nasdaq. Major decliners include Baidu (BIDU -3.8%), Qunar (QUNR -10.2%), Ctrip (CTRP -5.9%), (JD -5.8%), Sina (SINA -5%), NetEase (NTES -3.9%), Jumei (JMEI -10.7%), Youku (YOKU -6.2%), Bitauto (BITA -6.4%), Leju (LEJU -6%), Changyou (CYOU -7.7%), and Autohome (ATHM -5.3%).
    • Among Chinese solar names, Daqo (DQ -14.4%) and JinkoSolar (JKS -3.3%) are seeing big losses.
    • is adding to the Monday losses seen following a Morgan Stanley downgrade and news Alibaba has formed an alliance with major electronics retailer Suning. Both JD and Jumei could be affected by fellow online retailer Vipshop (down 11.1%), which yesterday afternoon provided light Q3 sales guidance to go with a Q2 EPS beat.
    • Yesterday: Chinese Internet stocks rally after Shanghai/Shenzhen post big gains
    | Tue, Aug. 11, 12:27 PM | 8 Comments
  • Mon, Aug. 10, 12:14 PM
    • A slew of U.S. traded Chinese Internet stocks are seeing outsized gains after the Shanghai and Shenzhen exchanges respectively rose 4.9% and 4.5% overnight, buoyed by hopes regulators will continue pulling out all the stops to prop up both the economy and equity markets. The Nasdaq is up 1.1%.
    • Major gainers include Bitauto (BITA +8.5%), Wowo (WOWO +16.2%), Youku (YOKU +7.5%), (WBAI +4.9%), SouFun (SFUN +5.7%), Sina (SINA +4.8%), and Weibo (WB +4.3%).
    • Bitauto and SouFun are reversing the Friday losses seen after the companies provided below-consensus guidance (I, II) to go with their Q2 beats. SouFun also announced IDG, Carlyle, and members of management are investing up to $1B.
    | Mon, Aug. 10, 12:14 PM | Comment!
  • Mon, Jul. 27, 9:29 AM
    • After bouncing in recent weeks with the help of massive government support, Chinese markets nosedived once again overnight amid a backdrop of weak manufacturing data. Shanghai fell 8.5%, Shenzhen fell 7%, and the ChiNext Index fell 7.4%.
    • Not surprisingly, many U.S.-traded Chinese tech names are off sharply in premarket trading. YY -4.2%. Qihoo (NYSE:QIHU) -5.5%. (NASDAQ:JD) -5.4%. SOHU -6%. iDreamSky (NASDAQ:DSKY) -9.6%. SouFun (NYSE:SFUN) -8%. SINA -5.5%. Weibo (NASDAQ:WB) -7.8%. Vipshop (NYSE:VIPS) -4.8%. Youku (NYSE:YOKU) -6.2%. Qunar (NASDAQ:QUNR) -6.2%. Dangdang (NYSE:DANG) -5.4%. (NYSE:WUBA) -4.7%. (NYSE:WBAI) -7.2%. Jumei (NYSE:JMEI) -5.7%. NQ Mobile (NYSE:NQ) -6%. Bitauto (NYSE:BITA) -6.3%. Autohome (NYSE:ATHM) -4.8%. Cheetah Mobile (NYSE:CMCM) -10.1%.
    • Sohu and Changyou reported this morning. Baidu reports after the close.
    | Mon, Jul. 27, 9:29 AM | 10 Comments
  • Mon, Jul. 27, 9:14 AM
    | Mon, Jul. 27, 9:14 AM | 2 Comments
  • Wed, Jul. 15, 9:46 AM
    • "An investment of $456m by the CEO (increasing his holding from 2.5% to 16%) is a major statement of intent and commitment but does not imply further upside," SINA)+to+Hold+on+Valuation/10724236.html" target="_blank">writes Deutsche's Vivian Hao. "After a relative gain of 45% against Nasdaq (+1%) since 2Q15, we downgrade the shares to Hold due to little visibility on the legacy portal business transition."
    • Hao, who has nonetheless hiked her target by $3 to $50, also cautions against expecting SINA to see a full going-private similar to the kind witnessed by many U.S.-traded Chinese firms, given "legal and domestic market hurdles."
    • Shares +18% YTD.
    | Wed, Jul. 15, 9:46 AM | Comment!
  • Thu, Jul. 9, 11:25 AM
    • With local regulators continuing to scramble to halt plunging equity prices - among other things, investors with 5%+ stakes have been barred from selling shares for 6 months - Chinese markets reversed course last night. Shanghai rose 5.8%, Shenzhen rose 3.8%, and Hong Kong rose 4.5%. The Nasdaq is currently up 1.2%.
    • Not surprisingly, U.S.-traded Chinese tech firms are flying higher. Big gainers include Sina (SINA +13.6%), Sohu (SOHU +11.1%), (JD +8.1%), Vipshop (VIPS +8.3%), Qunar (QUNR +9%), ChinaCache (CCIH +14.1%), Renren (RENN +9.5%), Wowo (WOWO +11.9%), Leju (LEJU +9.1%), China Mobile Games (CMGE +8.3%), Xunlei (XNET +9.7%), Sky-mobi (MOBI +9%), and eLong (LONG +18.1%).
    • Also up strongly (previously covered): Qihoo, 21Vianet, E-House, Youku, Baozun, NQ Mobile, Weibo, Cheetah Mobile, Jumei, and Momo. In addition, YY and Dangdang are rallying after becoming the latest Chinese companies to receive going-private offers.
    • The Guggenheim China Tech ETF (NYSEARCA:CQQQ) is now up 19% from a Wednesday low of $30.09; it's still down 22% from a May peak of $45.74.
    • Two days ago: Chinese tech stocks crater; many names down over 10%
    | Thu, Jul. 9, 11:25 AM | 13 Comments
  • Wed, Jul. 8, 5:41 PM
    | Wed, Jul. 8, 5:41 PM | Comment!
  • Wed, Jul. 8, 9:12 AM
    | Wed, Jul. 8, 9:12 AM | 19 Comments
  • Mon, Jul. 6, 11:01 AM
    • The Shanghai exchange rose 2.4% overnight following a Greek rejection of austerity measures and the unveiling by Chinese brokerages of a government-endorsed plan to buy at least RMB120B ($19.3B) worth of shares to prop up nosediving equity prices. However, Shenzhen fell 2.7% and Hong Kong fell 3.7%, with small-cap names especially hard-hit.
    • U.S.-traded Chinese Web/mobile names are seeing heavy losses (CQQQ -7.8%), with small/mid-cap firms unsurprisingly bearing the brunt of the damage. Major decliners include Sina (SINA -8.8%), Weibo (WB -11.6%), YY (YY -7.3%), Sohu (SOHU -9.1%), Changyou (CYOU -11.8%), Youku (YOKU -12.3%), Jumei (JMEI -8.2%), Xunlei (XNET -8.7%), SouFun (SFUN -9.3%), Leju (LEJU -7.6%), E-House (EJ -6.9%), Sky-mobi (MOBI -9.4%), NQ Mobile (NQ -6.3%), (WBAI -11.6%), Momo (MOMO -6%), and Dangdang (DANG -6.7%).
    • The NYT observes $2.7T in value has evaporated from Chinese equities since local markets peaked on June 12. The paper also notes individual investors own over 80% of Chinese stocks, and that Chinese investors respectively own 112M and 142M accounts on the Shanghai and Shenzhen exchanges, with each exchange seeing ~20M account openings this spring.
    | Mon, Jul. 6, 11:01 AM | 16 Comments
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Company Description
SINA Corp is an online media company and MVAS provider in the People's Republic of China and for the Chinese communities.
Sector: Technology
Country: China