The Bamboo Works - Archives - Where China Stocks meet global investors

JinkoSolar Pushes Into Power Storage with New European Tie-Up

May 17, 2022May 17, 2022

Germany’s Memodo will use Jinko-supplied storage systems in new solar projects across Germany, Austria, and Switzerland Key Takeaways: A German wholesaler has agreed to distribute JinkoSolar’s PV panels and batteries in Germany, Austria, and Switzerland through the end of next year The deal signals JinkoSolar’s push into battery storage to complement its solar panel business and maintain its spot as the world’s biggest solar panel maker By Andrew Curran China’s top solar panel manufacturer is pouring massive time, money and effort into solving the single biggest problem stymying the uptake…

Spring REIT Rejigs Financing to Revive Stalled Mall Acquisition

May 5, 2022May 5, 2022

The company has agreed to buy a majority of an upscale shopping mall using debt, after its original plan to finance the deal using equity failed due to a major investor’s objections Key takeaways: • Spring REIT has agreed to acquire 68% of Huamao Place, an upscale shopping mall in the Guangdong city of Huizhou, for about 1.6 billion yuan • Spring originally agreed to buy the property in 2018 but the deal collapsed over a dispute with one of its own major investors over the financing By Warren Yang…

Chindata Potentially Up for Sale as M&A Heats Up in China Data Centers

April 25, 2022May 5, 2022

Chinese rival GDS and U.S. peer EdgeConneX are reportedly considering bids for the smallest of China’s three independent data center operators Key Takeaways: Data center operators GDS and EdgeConneX have reportedly expressed interest in making bids for Chindata Chindata’s control by U.S. private equity giant Bain and the recent departure of its founder may make it ripe for such a buyout By Doug Young After a turbulent year that saw their stocks lose more than half their value, China’s small field of independent data center operators has suddenly become…

Titanium Miner LB Group Seeks to Shine in Hong Kong IPO Raising up to $1.5 Billion

April 19, 2022May 6, 2022

Producer of the white metal powder used to brighten everything from paints to food saw its profit double last year on nearly 50% revenue growth Key Takeaways: LB Group has filed for a Hong Kong IPO to raise up to $1.5 billion, aiming to consolidate its place as Asia’s leading producer of titanium dioxide pigments Listing would complement company’s existing Shenzhen A-shares, which look sharply undervalued compared with industry peers By Andrew Curran Asia’s top producer of titanium oxide, a powder used to whiten everything from paints to inks and…

VNET Finally Gets Some Respect from Unsolicited Suitor

April 12, 2022May 5, 2022

Private equity group offers to buy all of the data center operator’s American depositary shares for nearly a 50% premium over their previous close Key Takeaways: VNET has received an unsolicited buyout offer that is 50% higher than its previous stock price, sparking a 30% surge in its shares Company is the relative laggard among China’s three major independent data center operators despite its status as the oldest of the group By Doug Young VNET Group Inc. (VNET.US), the least-appreciated of China’s three major independent data center operators, is finally…

After Dismal Year, Zhaojin Mining Sees Glitter in 2022

March 25, 2022May 6, 2022

Gold miner suffered setback in 2021 due to regulatory clampdown, but could benefit this year as new projects come onstream and prices soar Key takeaways: Zhaojin Mining’s revenue and profit both fell last year, as a safety-based clampdown caused its gold output to drop 34% Company is expected to rebound this year as new mines start operating and output at existing ones returns to normal By Tina Yip Exotic metals like lithium and cobalt aren’t the only ones with soaring prices lately. Compounded by international geopolitical tensions, the price of…

Cobalt Miner CMOC’s Profit Doubles on Heating Demand for EVs

March 21, 2022May 6, 2022

Despite the healthy profit growth last year, company could face future difficulties as China vies with others for the strategically important mineral Key takeaways: CMOC’s profit and revenue rose 119% and 53.9% last year, respectively, as cobalt prices rose sharply on strong demand from EV battery makers Company has faced recent difficulties with an important mine in the DRC, where it suspended operations after a local partner accused it of royalty evasion By Fai Pui A recent thirst for commodities of all types has driven up prices across the board…

Spurned by New York, Kingsoft Cloud Looks for Love in Hong Kong

March 16, 2022May 6, 2022

China’s largest independent cloud services provider says it’s exploring a second listing in Hong Kong, following a 57% plunge in its shares over three trading days Key Takeaways: Kingsoft Cloud is studying a possible dual listing in Hong Kong to complement its current listing on the Nasdaq Company made the announcement after the U.S. securities regulator reminded U.S.-listed Chinese firms they could face forcible delistings under a law passed in December 2020 By Doug Young When is a 25% jump in your share price not much cause for celebration? The…

Renewed Focus Clears Distractions for Chindata After Founder’s Abrupt Exit

March 14, 2022May 5, 2022

Company’s shares rallied after it formed a new management team around executives with deep experience in its main data center business Key takeaways: • Chindata reported its revenue grew 41% in the fourth quarter, as its full-year revenue and EBITDA for 2021 exceeded previous guidance • Results announcement follows company’s formation of a new management team to focus on its main data center business after abrupt departure of expansion-minded founder By Warren Yang Change can be good for companies, and the addition of new business lines is often critical to…