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Fathom China
Fathom China Team
May 28th 2019
Filling The Huawei Supplier Gap
Facing a ban on US-sourced products, Huawei Technologies (“Huawei”) is switching key supply orders to firms in Taiwan, according to multiple sources. “Huawei is demanding that vendors send as much supply as they can – however much they can provide, it will buy,” says Taipei-based China Times. US export controls dictate that foreign firms whose wares derive more than 25% of their value from US components are barred from selling to Huawei. How...
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Fathom China
Fathom China Team
May 23rd 2019
China’s Message Gap, Huawei’s Suppliers, FedEx Rumors
In a rare divergence, Beijing and Huawei Technologies (“Huawei”) are sending different public messages about how China should respond to the trade dispute with the US. Beijing made its position clear on May 20, when party chief Xi Jinping laid a wreath at a monument to the Communist Party’s wartime Long March. His message was that Chinese people and companies must prepare to endure long hardships to emerge victorious.
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Fathom China
Fathom China Team
May 21st 2019
The Message From China
Chinese leader Xi Jinping sent an unmistakable message to his country with his visit on May 20 to the starting point of the Communist Party’s famous Long March. Even 85 years after the March began, the event has an emotional impact in China bigger than any analogous event in US history. Imagine Valley Forge but epic: facing defeat by Chiang Kai-shek’s army in 1934, the Communists spent a year retreating on foot even through Tibetan bogs that...
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Fathom China
Fathom China Team
May 17th 2019
Kingdee: Leading The Transition To Cloud
Kingdee International Software Group (“Kingdee”) is one of China’s largest suppliers of business process management software. Its products help businesses integrate and automate supply chain management, customer relations, human resources and other functions. Most revenue still comes from on-premise software that clients install on their own servers. The next step up in technology is to the cloud, where Kingdee’s main service is software-as-a-...
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Fathom China
Fathom China Team
May 01st 2019
EstunAutomation
EstunAutomation (“Estun”) is a leading Chinese maker of industrial robots and core automation components like controllers, reducers and servos.
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Fathom China
Fathom China Team
May 01st 2019
LBX Pharmacy Chain
LBX Pharmacy Chain (“LBX”) is one of China’s leading discount pharmacy chains selling over-the-counter and prescription drugs.
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Fathom China
Fathom China Team
May 01st 2019
Wuxi AppTec
Wuxi AppTec is China’s largest outsourced drug research and manufacturing firm. Most of its customers are foreign pharmaceutical companies.
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Fathom China
Fathom China Team
Apr 29th 2019
Failing Joint Ventures, Tsinghua Unigroup Breaks Ground
In this issue • Failing joint ventures. Beijing’s latest efforts to access foreign technology have hit snags as foreign partners in three key joint ventures either pull out or change plans. • Tsinghua Unigroup breaks ground in Chengdu. China’s top chip company starts building a fab in Chengdu city amid rumors that the project is really about real estate. • Tsinghua Unigroup finishes acquisition. Tsinghua Unigroup has acquired Linxens, the French...
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Fathom China
Fathom China Team
Apr 29th 2019
Huawei’s Iffy Future, Innotron’s Tech Source, More
In this issue • US goals for Huawei. The US hit Huawei with export sanctions to gain trade negotiating leverage and to undermine demand for Huawei’s 5G networking equipment, and it will probably succeed on both counts, although American technology companies will suffer too. • Innotron’s technology source. China’s last remaining DRAM hopeful has finally revealed where it got its technology but its comments raise more questions than they answer...
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Fathom China
Fathom China Team
Apr 22nd 2019
Child Actor Crackdown, Firmer Hand At Youku, Tencent Restructuring
In this issue • NRTA’s new restrictions on kids’ programming. The NRTA wants fewer child-focused reality shows, and more uplifting content for kids. • New Youku CEO’s recovery plans. Fan Luyuan acknowledges that Youku has slipped, and is responding with tighter management and more spending on content. • Possible merger for Tencent content units. Rumors say Tencent will save money by merging Tencent Pictures and Penguin Pictures; the effect on...
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Fathom China
Fathom China Team
Apr 17th 2019
Hengrui: Regulatory Reforms Create Uncertainties
Jiangsu Hengrui Medicine (“Hengrui”) is a leading Chinese drug firm that grew by making generic medications whose patents have expired. An estimated 70% of its revenue comes from generics, especially those that fight cancer. Recent government reforms are driving down drug prices, threatening Hengrui’s margins and profits. Following a few years of market chaos, the company’s position should improve as small rivals drop out and unit sales increase...
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Fathom China
Fathom China Team
Apr 02nd 2019
NRTA Shows Weakness, Netflix Has A Hit, Taiwan Fears China’s VOD
In this issue • NRTA shows weakness in deal on “court-struggle dramas”. Facing criticism by viewers for threatening to ban popular shows, the NRTA has struck a deal with VOD platforms regarding imperial-court dramas. • Pirated version of Netflix show a hit. Chinese love Love, Death & Robots. • Taiwan fears China’s VOD powers. iQiyi’s popularity in Taiwan has led to a backlash from ruling-party politicians who fear a Chinese stalking horse...
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Fathom China
Fathom China Team
Apr 01st 2019
AVIC Jonhon Optronic Technology
AVIC Jonhon Optronic Technology (“AVIC Jonhon”) is a state-owned, military-backed firm making high-end connectors for aviation, aerospace, autos and communications.
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Fathom China
Fathom China Team
Apr 01st 2019
Betta Pharmaceuticals
Betta Pharmaceuticals (“Betta Pharma”) sells a patented drug that treats lung cancer.
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Fathom China
Fathom China Team
Apr 01st 2019
Shenzhen Goodix Technology
Shenzhen Goodix Technology (“Goodix”) is a world-leading supplier of touchscreen and fingerprint identification solutions for Android phones and tablets.
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Fathom China
Fathom China Team
Apr 01st 2019
Yunnan Baiyao Group
Yunnan Baiyao Group (“Baiyao”) earns most of its revenue selling prescription drugs for other firms. Yet it is best known for an herbal blood coagulant dating to the Qing Dynasty, and a popular toothpaste.
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Fathom China
Fathom China Team
Apr 01st 2019
Zhejiang Sanhua Intelligent Controls
Zhejiang Sanhua Intelligent Controls (“Sanhua”) makes small temperature-control components such as valves, pumps and frequency inverters that are installed in home appliances and air conditioners.
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Fathom China
Fathom China Team
Mar 29th 2019
China’s Memory Challenges, “Fab Frenzy” Warnings
In this issue • Executive change at Tsinghua Unigroup. The latest executive change could indicate trouble for Chairman Zhao Weiguo, and suggests that Beijing wants to keep a close eye on the company’s chip projects. • Setbacks at GigaDevice. China’s last remaining DRAM program looks shaky as its key technology contributor faces a series of setbacks. • Warnings of a chip-fab “frenzy.” Two leading tech commentators say local governments are...
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Fathom China
Fathom China Team
Mar 11th 2019
Court-Drama Crackdown, Trouble At Youku, Politics In Wandering Earth
In this issue • Crackdown on imperial dramas spreads to VOD • Signs of trouble at Youku • Wandering Earth hits all the right political notes • iQiyi losses grow • Alibaba confirms stake in Bilibili • Alibaba celebrates Green Book.
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Fathom China
Fathom China Team
Mar 08th 2019
Huawei’s New Chip, Saving Jinhua, DRAM Doubts
In this issue • Huawei’s base station chipset received government support • Beijing’s strategy to save Jinhua • Innotron and GigaDevice extend cooperation, terms unclear • Rumor: Ericsson to face antitrust probe. • Yangtze Memory Technologies to start mass production. • Key venture moves from Guizhou to Chengdu.
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Fathom China
Fathom China Team
Mar 07th 2019
JD Logistics: Great Service At Great Expense
China’s second-biggest e-commerce company, JD.com (“JD”), in 2016 launched a new business—it opened its logistics services to non-JD merchants. JD had long been known for its vertically integrated warehousing and deliveries, in contrast with industry leader Alibaba Group Holdings (“Alibaba”), which outsources both. JD tried to turn a cost center into a profit center in 2017 by creating JD Logistics (“JDL”). JDL will deliver pretty much anything...
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Fathom China
Fathom China Team
Mar 01st 2019
Asymchem Laboratories (Tianjin)
Asymchem Laboratories (Tianjin) (“Asymchem”) is a leader in outsourced drug making and research. Most of its customers are foreign firms
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Fathom China
Fathom China Team
Mar 01st 2019
Contemporary Amperex Technology
Contemporary Amperex Technology (“CATL”) is the world’s largest maker of lithiumion batteries for electric vehicles (“EVs”). Its clients are mostly car makers in China.
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Fathom China
Fathom China Team
Mar 01st 2019
HefeiMeyer Optoelectronic Technology
Hefei Meyer Optoelectronic Technology (“Meyer”) is China’s biggest maker of optical sorters, which detect substandard agricultural products by their color. It also makes dental scanners and industrial detectors.
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Fathom China
Fathom China Team
Mar 01st 2019
Hangzhou Robam Appliances
Hangzhou Robam Appliances (“Robam”) is the leader in China’s kitchen appliance market. Its top products are range hoods (also known as exhaust fans) and gas stoves. It is moving into new products such as dishwashers, dish sterilizers and steam ovens.
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Fathom China
Fathom China Team
Feb 19th 2019
New VOD Censorship, Douyin Promotes CCTV, And More
In this issue • New censorship regime for VOD programs • Edicts from above, evasions from below • Douyin shows its usefulness for propaganda
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Fathom China
Fathom China Team
Feb 02nd 2019
Suofeiya Home Collection
Suofeiya Home Collection (“Suofeiya”) is the second-biggest maker of custom furniture in a country where most new homes have no closets, cabinets or other fixed hardware. The company targets mid- to high-end homeowners and sells across China.
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Fathom China
Fathom China Team
Feb 01st 2019
Luzhou Laojiao
Luzhou Laojiao is China’s 4th largest maker and seller of baijiu, the Chinese liquor distilled from sorghum. It sells to distributors and direct to consumers.
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Fathom China
Fathom China Team
Feb 01st 2019
Toly Bread
This Quick A report is password protected and can only be opened by subscribers. To request access please contact info@gkfathomchina.com
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Fathom China
Fathom China Team
Jan 30th 2019
Xi Jinping Demands Media Integration
The Communist Party has elevated its theme of “media integration” to the highest possible level: top leader Xi Jinping himself. Xi led the party’s ruling body, the 25-member Politburo, to the offices of People’s Daily on January 25 to drive home his demand that struggling state media adopt the practices of the country’s rising digital media giants. Although top-down calls for media integration have so far had little effect on VOD companies, in...
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Fathom China
Fathom China Team
Jan 11th 2019
Changes In Ratings, Bytedance Wants Long Video, And More
In this issue Big changes in ratings collection Rumor: Bytedance makes offer for Youku China VOD’s global influence New short video regulations New iQiyi vice president for short video iQiyi wins lawsuit against Bytedance
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Fathom China
Fathom China Team
Jan 01st 2019
Berry Genomics
Berry Genomics provides genetics testing equipment, reagents, and testing services to medical institutions. Its products and services mostly detect problem embryos and cancer. The company owns one production base and operates eight clinical laboratories in China and Hong Kong.
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Fathom China
Fathom China Team
Jan 01st 2019
Centre Testing International Group
Centre Testing International Group (“CTI”) provides independent testing services for product quality, safety and performance, on everything from toy cars to real cars.
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Fathom China
Fathom China Team
Jan 01st 2019
Zhejiang Dahua Technology
Dahua is the world’s second biggest seller of video surveillance products and services. Products include cameras, switches and servers. Services include “intelligent solutions” based on AI, video data analytics and cloud computing.
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Fathom China
Fathom China Team
Jan 01st 2019
Winning Health Technology Group
Winning Health provides software and hardware to medical institutions, which pay licensing and support fees. Its products share patient information among hospitals, insurance firms and others. It recently moved into cloud-based health services.
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Fathom China
Fathom China Team
Dec 18th 2018
Yirendai: Strategic Retreat
Yirendai ranks among China’s top companies in the troubled industry of online peer-to-peer lending, or P2P. Its platform puts together individual borrowers and lenders, and charges high fees. To protect consumers from usurious interest rates and Ponzi schemes, Beijing has passed a spate of regulations that are driving smaller firms out of business. Yirendai will likely rank among the survivors but with limited room for growth. The company’s...
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Fathom China
Fathom China Team
Dec 01st 2018
Focus Media Information Technology
This Quick A report is password protected and can only be opened by subscribers. To request access please contact info@gkfathomchina.com
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Fathom China
Fathom China Team
Dec 01st 2018
Lens Technology
Lens make glass covers for electronic devices, mostly mobile phones. It sells to makers like Apple and Samsung, and to OEMs like Foxconn. It has 95,000 employees.
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Fathom China
Fathom China Team
Dec 01st 2018
Hangzhou Tigermed Consulting
Tigermed tests drugs for pharmaceutical companies. This includes pre-clinical tests in laboratories, and clinical tests on humans. It also provides consulting and administrative services to help clients apply for approvals to test new drugs.
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Fathom China
Fathom China Team
Nov 14th 2018
Tencent Games: Culture Industry Under Pressure
The Chinese government in March 2018 stopped approving new online games. The cessation hurts Tencent Holdings (“Tencent”), which earns 37% of its revenue from games. A government restructuring that has clogged the approval pipeline is widely misunderstood. It is part of the Communist Party’s tightening grip on the audio-visual industry, including games. Game approvals will resume when the current phase of grip-tightening is complete, which is...
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Fathom China
Fathom China Team
Nov 01st 2018
BGI Genomics
This Quick A report is password protected and can only be opened by subscribers. To request access please contact info@gkfathomchina.com
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Fathom China
Fathom China Team
Nov 01st 2018
NavInfo
This Quick A report is password protected and can only be opened by subscribers. To request access please contact info@gkfathomchina.com
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Fathom China
Fathom China Team
Nov 01st 2018
S.F. Holding
This Quick A report is password protected and can only be opened by subscribers. To request access please contact info@gkfathomchina.com
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Fathom China
Fathom China Team
Nov 01st 2018
Wuliangye Yibin
This Quick A report is password protected and can only be opened by subscribers. To request access please contact info@gkfathomchina.com
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Fathom China
Fathom China Team
Oct 05th 2018
Autobio: Solid Reputation, Tight Executive Group
Autobio Diagnostics is poised to benefit from China’s booming healthcare services industry. The company has a good reputation but a few odd points. It has escaped controversy in an industry that is beset by scandal, although Fathom China thinks it should do a better job of explaining why its reported gross margins are so high.
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Fathom China
Fathom China Team
Aug 20th 2018
Dali Foods: Consumers Want More
Dali Foods Group (“Dali Foods”) is a large family-controlled maker of snack foods and drinks. It is known as a copycat that develops inexpensive me-too products, promotes them with celebrity-based marketing campaigns, and distributes them to lower-income consumers across vast swathes of China. Yet Dali Foods’ target demographic is shrinking as incomes rise, and even lower-end consumers are now looking for higher-quality fresh and healthy foods....
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Fathom China
Fathom China Team
Jun 29th 2018
Huayi Bros: Refocusing On Film
Privately run Huayi Brothers Media (“Huayi Bros”) was established in the 1990s by two brothers and still ranks among China’s most creative and successful moviemakers. The rise of China’s film industry over the past decade has forced changes in company strategy. Huayi Bros once enjoyed very close ties with China’s most creative directors and actors. As that talent increasingly sought work elsewhere, Huayi Bros responded by buying companies owned...
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Fathom China
Fathom China Team
Jun 01st 2018
Shenzhen Rapoo Technology
This Quick A report is password protected and can only be opened by subscribers. To request access please contact info@gkfathomchina.com
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Fathom China
Fathom China Team
Jun 01st 2018
Shenzhen Inovance Technology
This Quick A report is password protected and can only be opened by subscribers. To request access please contact info@gkfathomchina.com
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Fathom China
Fathom China Team
May 24th 2018
58.com: Strong Position In Online Listings
Attached is our report on China’s leading online listings business, 58.com, sometimes called the Craigslist of China. The company is in a strong position. It faces no major competitors in its two main business lines: real estate and blue-collar recruitment. Management looks steady. A series of restructurings raised concerns but 58.com seems to have come through well. This is one of Fathom China’s more upbeat reports.
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