Chinese Social Media Stocks Investor Alert: (TCTZF), (UMEWF), (BIDU), (RENN)
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Point Roberts, WA - May 28, 2013 (Investorideas.com newswire) Investorideas.com staff: Investorideas.com, an investor research portal specializing in sector research for independent investors issues an alert for Chinese social media stocks
Tencent Holdings Ltd. (TCTZF), (SEHK 00700) services include QQ, Weixin and WeChat for communications; Qzone for social networking; QQ Game Platform for online games; QQ.com for information; as well as our eCommerce open platform.. The company reported first quarter results May 15 th . Total revenues were RMB13,547.6 million (USD2,161.1million), an increase of 11.5% over the fourth quarter of 2012 ("QoQ") or an increase of 40.4% over the first quarter of 2012 ("YoY"). The stock has made some big moves for investors in the past month, with a low range of just under $30 to trading as high as $40 and now currently trading at $38.
UMeWorld Limited (OTC: UMEWF) recently announces the launch of its newly redesigned website, UMeLook.com . The stock moved from under .40 to currently trading at .$0.48 on the news. UMeWorld's mission is to facilitate the interaction between people -- "You" and "Me," through its digital platform. Currently, UMeWorld operates UMeLook (www.umelook.com), an online video platform focused on bringing foreign video content to China. UMeLook is deployed through a sophisticated CDN (Content Delivery Network) with broad coverage throughout mainland China, Hong Kong & Taiwan. UMeLook plans to be a source of foreign video content for the Chinese viewer across any Internet-enabled device in China. UMeWorld intends to focus its future operations on digital media and the digital education market.
Baidu, Inc. (NasdaqGS: BIDU) is trading at $98.07, gaining $1.62(1.68%) as of 10:45AM EDT on over 2 Million shares. On May 7th they announced the acquisition of the online video business of leading Internet video provider PPS for US $370 million.
Baidu and PPS expect the transaction to close in the second quarter of 2013, subject to customary closing conditions. Upon completion of the transaction, the PPS online video business will be consolidated into Baidu's financial statements. PPS's online video business will be merged with Baidu's own video platform iQiyi.
Renren Inc. (NYSE: RENN) is trading at $3.0597, gaining 0.0797(2.67%) as of 10:49AM EDT this morning over 1 Million shares. The company, a leading real-name social networking internet platform in China, reported its unaudited financial results for the first quarter ended March 31, 2013 earlier this month. Total net revenues were US$46.6 million, a 45.2% increase from the corresponding period in 2012.
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