Sohu offered $10/ADS to buy out the 33% public stake in its Changyou gaming business Release of a new mobile game from its hit TLBB series could boost Changyou's 2020 earnings to $150mm (about $3/ADS) Sohu should report a substantial 2020 profit after 8 years of losses. Changyou will be strong, Sogou will continue to … Continue reading Changyou Will Deliver Strong Results For Sohu In 2020
Phoenix New Media (FENG) announced that a Yidian shareholder is seeking to exercise co-sale rights in FENG's pending transaction. FENG disputes whether the co-sale notice was validly submitted, but Phoenix TV (PTV) is going ahead with a shareholder meeting seeking approval of the revised sale agreement. The EGM Notice includes background information which was not included in … Continue reading Phoenix New Media: Another Change to Yidian Sale, But Minimal Valuation Impact
Xinyuan has $999mm of US$ debt due in the next 24 months. Xinyuan bonds are trading at yields over 20%. Refinancing is currently impossible. Contract sales have been weak and the company is losing market share. The company has too many unproductive assets. The New York projects may bring more problems The dividend should be … Continue reading Xinyuan Real Estate: Very High Risk
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