Chinese Internet Stocks Have Room for Growth
Five Star Equities Provides Stock Research on Baidu & Dangdang
NEW YORK, NY -- (Marketwire) -- 03/26/12 -- The majority of Chinese internet stocks are coming off a difficult week as concerns about China's economic growth stalled an impressive early 2012 rally. Chinese Premier Wen Jiabao, in his annual state-of-the nation report to China's parliament, forecast 2012 growth of 7.5%. That would be the slowest pace of expansion since 1990 and well down on last year's 9.2% growth rate. Five Star Equities examines investing opportunities in China's Internet Sector and provides Stock research on Baidu Inc. (NASDAQ: BIDU) and E-Commerce China Dangdang Inc. (NYSE: DANG). Access to the full company reports can be found at:
Before last week, Chinese internet stocks were on an impressive run as a large uptick in social network users is expected to boost profits throughout the sector. "China's Internet stocks, especially the bigger names like Sina and Baidu, still have lots of room for growth going forward," Agnes Deng, a Hong Kong-based portfolio manager said in an interview with Bloomberg.
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Last week, Baidu signed an agreement with leading earth imaging solution provider DigitalGlobe in order to provide increased functionality to Baidu Maps users. Dongchen Zhang, head of business development at Baidu, says, "With this agreement, Baidu can offer new ways for users to engage with the Internet while continuing to solidify Baidu's presence at the heart of China's Internet ecosystem."
Online Chinese retailer Dangdang, the owner of China's largest online bookstore, has indicated they expect increased mergers and acquisitions in China's online retail market primarily driven by increased difficulty in acquiring financing from capital markets, according to Dangdang CFO Conor Yang.
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