Fathom China

Matthew Forney

Oct 08th 2014

China’s banking watchdog has canceled the maiden sale of a wealth management product by JD.com, one of China’s leading e-commerce platforms.

Fathom China

Matthew Forney

Oct 01st 2014

Wuxi PharmaTech (Cayman)

Fathom China

Matthew Forney

Jul 10th 2014

With asset prices around the world continuing to rise, low-priced Chinese equities now look extraordinarily attractive to value investors. But investors should not check their skepticism at the border. Many investors in seemingly vibrant Chinese private sector firms have become victims of frauds, often later exposed by short sellers. However, the fear of falling for such scams is no reason to avoid investing in all Chinese firms. Straightforward...

Fathom China

Fathom China Team

May 13th 2014

Lottery-equipment supplier RexLot Holdings says it gained control of a Chinese Internet company through acquisitions worth US$116m, but what RexLot Holdings bought for its money is unclear.

Fathom China

Matthew Forney, Research Team

Apr 24th 2014

The way that billions of people pay for things is in flux across the world. No sooner had consumers grown accustomed to using bank cards instead of cash than the next big thing, online payments, swept onto the scene. In China, a giant state-owned firm called China UnionPay (“UnionPay”) has long straddled most payment channels as the only authorized bank card network. UnionPay is a government-controlled cousin to Visa or MasterCard, with its logo...

Fathom China

Fathom China Team

Feb 01st 2014

RexLot Holdings

Fathom China

Matthew Forney, Research Team

Dec 16th 2013

Two family-controlled companies from Taiwan are battling for supremacy in China’s fast-growing convenience food industry. Although both specialize in instant noodles and soft drinks, they have strikingly different strategies. The larger, Tingyi (Cayman Islands) Holding, distributes across China and focuses on scale. The smaller, Uni-President China Holdings, prefers to pursue high margins by limiting its distribution and promoting innovative new...

Fathom China

Matthew Forney, Research Team

Oct 22nd 2013

Baidu is heading into its toughest period of competition since Google withdrew from China in 2010. Of the country’s three internet giants, Baidu has been the slowest in adapting to the mobile internet. Its main competitors, Tencent and Alibaba, have market-altering mobile apps that can likely earn huge profits: Tencent with WeChat and Alibaba with its stake in Sina Weibo. Those two companies now dominate mobile e-commerce and social media,...

Fathom China

Matthew Forney

Sep 13th 2013

Li Ning

Fathom China

Matthew Forney

Jul 08th 2013

From humble origins, Jack Ma’s Alibaba Group has grown to dominate one of the most dynamic and fastest-growing parts of China’s economy: e-commerce. Ma’s vision of remaking Chinese business through the leveling force of online transactions might have seemed grandiose a decade ago, but Alibaba isnow a household name and shopping online is as commonplace as it is in the US. About 80% of China’s consumer e-commerce transactions pass through its...

Fathom China

Fathom China Team

Jun 01st 2013

Belle International Holdings

Fathom China

Matthew Forney

Apr 08th 2013

Everyone knows that the Chinese government subsidizes companies. We tend to think those subsidies go mainly to state-owned firms. In reality, though, lots of private companies feed at the public trough. Today’s investigation by our friends at Fathom China found that 45 out of 50 big Chinese private firms listed in Hong Kong or New York enjoyed subsidy support, usually from local governments and generally to support capital investment. A few...

Fathom China

Fathom China Team

Feb 01st 2013

Kingdee International Software Group

Fathom China

Matthew Forney, Research Team

Jul 26th 2012

Good luck taking a snapshot anywhere in China without framing a bulldozer, excavator or crane. China’s 20-year construction orgy has meant boom times for makers of construction equipment, who have grown accustomed to 20% annual growth. Leading the way is Sany Heavy Industry, a spunky private company that has made dollar billionaires of its four entrepreneurial founders by producing many kinds of big outdoor construction machinery. But with...

Fathom China

Matthew Forney

Apr 30th 2012

In an increasingly carnivorous nation, you would expect China’s biggest private pork producer, China Yurun Food Group, to be in hog heaven. Instead, a series of food-safety and other scandals have left consumers afraid to buy Yurun’s meat and investors afraid to buy its stock. Given that Yurun’s marketing message has always emphasized that its sausages and meat cuts are safer than unbranded meat, the company’s safety problems will remain hard to...

Fathom China

Matthew Forney

Dec 21st 2011

Chinese reverse mergers: Ten questions about dodgy deals

Fathom China

Matthew Forney

Oct 01st 2011

ENN Energy: State competitors say, "Kiss my gas"

Fathom China

Matthew Forney, Research Team

Dec 02nd 2010

Even if you’ve never set foot in China, walk into any outlet of China’s best-known retail chain and you’ll feel like you know what’s going on. The retailer is Gome Electrical Appliances Holding (Gome), and it sells home appliances ranging in size from woks to washing machines, plus the odd computer or cell phone, and lots of flat-screen TVs. You’ll see familiar products assorted into groups, many of them affixed with discount tags, and prowling...

Fathom China

Matthew Forney

Oct 04th 2010

GCL Poly: Perfect solar timing

Fathom China

Matthew Forney

Feb 08th 2010

Athletic footwear maker Peak Sport Products Company Ltd found success by selling athletic shoes to a rising middle class in remote Chinese cities. Peak is not alone – at least four other sneaker makers from the same small city in eastern Fujian province have listed on overseas stock markets, and all started by stitching together millions of pairs of shoes for the likes of Nike, Adidas and other top-flight brands. These new Chinese arrivals,...