Sina Weibo Said to Go Public Alone
Sina Weibo, China's most popular Twitter-like social networking service operated by Sina Corp (Nasdaq: SINA), is preparing for a separate listing that is likely to take place in early 2014, said a Sina employee, without revealing details. It was reported earlier this month that Alibaba Group Holding Ltd planned to increase its stake in Sina Weibo. China's biggest e-commerce company paid $586 million in April for an 18% stake in Sina Weibo, which claims to have registered over 300 million accounts. Weibo is evaluated to make up half of Sina's assets, but it has yet to figure out a stable mode to monetize. Some market watchers say Sina Weibo's future is over as the Chinese government steps up the crackdown on public platforms where netizens can vent their discontent.
Huawei Targets $2 Billion from 4G Sales
Huawei Technologies Co, China's biggest telecoms equipment maker, said its revenue from 4G devices is expected to exceed $2 billion this year as Chinese and European wireless carriers upgrade their infrastructure. The company predicted that 1 billion, or half of the world's mobile service users, would be using 4G services by 2016.
CSR Buys 2 Billion Yuan of Wind Turbines from Goldwind
CSR Corp (SHA: 601766, HKG: 1766) said it has signed a deal with Xinjiang Goldwind Science & Technology Co (HKG: 2208, SHE: 002202), involving CSR buying 2.09 billion yuan worth of Goldwind's wind turbines to support CSR's direct driven permanent magnet power business, where CSR controls nearly a 50% share. CSR is China's biggest train maker by market value, and Xinjiang Goldwind is China's second largest wind turbine maker.
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