china online, bitte nur neue facts reinschreiben - 500 Beiträge pro Seite

[beaa]

liebe trader,
es ist ja nicht mehr zum aushalten, wenn man die die "diskussionen" und das gelaber zu col in den verschiedenen threads hier verfolgt.
ich komm mir langsam vor wie im kindergarten und wenn man diese möchtegernaktionäre in china oder besser auf den bermudas lesen sollte, spricht das wohl zuerst gegen uns. oder was soll ich davon halten, daß einer angeblich ein fax schickt in namen
der community, angeblich antwort erhielt, sie aber hier nicht posten wollte. ein anderer hat erst gar keine antwort bekommen. und nun soll plötzlich der kurs explodieren, bloß weil eine hp gefunden ist. habt ihr schon mal was von pingen gehört? probierts mal, wenn ihr könnt.

für die, die sich wirklich für col interessieren, hier der hinweis zum wiederholten mal an www.china-stoxx.de. für die, die nicht 2 fenster aufmachen könnn, hier die kopie der dort veröffentlichten beiträge, inkl. informationen des spiegels.
vielleicht gebt ihr der firma mal zeit, sich dann zu äußern, wenn sie es für richtig erachtet. und das kann dauern ....



China Online (Bermuda) Ltd [0383]



China Online
Code Hong Kong: 0383
WKN Deutschland: 885023 - Berlin, München, Stuttgart, Frankfurt, XETRA
Symbol USA: OTC:COBVY (ADR) und OTC:COBVF
Kurs Hong Kong
Kurs USA COBVF (OTC)
Kurs USA ADR COBVY (OTC)
US-Chart in US$ (ADR COBVY)
Raging Bull - China Online Forum

China Online provides data communication services and wireless communication services in Hong Kong and greater China and
plans to be a major Internet company in greater China. It is 47.32 percent owned by China Strategic Holdings Ltd <0235.HK> and
7.42 percent owned by Pacific Century Regional Development and holds 3.45 percent of Pacific Century CyberWorks Ltd
<1186.HK>.

China Online (0383) announced that, the company acquired 120 million shares of Sun Hung Kai Company (0086) during the period
from 6 January to 25 January, representing 10.5% stakes. The share price was between $1.1 and $2.225 each, the amount being
$240 million in total. The announcement stated that the company did not require to join the Board of Directors of Sun Hung Kai
Company.

We believe the takeover of China Online (COL) by China Sci Tech, a company controlled by Stanley Ho, is likely to lead to a series
of major corporate restructuring exercises which will refocus the group towards new PRC Internet and telecoms investments. The
sale of a 32.8% stake to China Sci Tech becomes effective from 28 January. We expect COL`s new management team might take
the opportunity to spell out expansion plans then.
China Online (previously Star Telecom) had its origins as a handset distributor and was an early ISP player. However, the group
soon acquired a series of assets, the most important being a stake in Pacific Century Cyberworks last year. The 200mn PCCW
shares were reportedly acquired at below $8.00 a share.
In addition, the group has built up a cash pile of $700mn. Debt levels are believed to be negligible. Management said COL is a net
lender to the interbank market. The large cash pile certainly suggests COL is well positioned to go on an acquisition spree for new
telecoms and Internet investments in China and Hong Kong.
Other PRC projects that have been carried over from the previous management include an option to acquire a 35% interest in a
CDMA network in Beijing and Shanghai and a 55:45 interest in a mobile handset distribution business in North and Northeastern
China with Hikari Tsushin. The latter JV has 180 sales points and is said to be profitable. Preliminary discussions have begun
regarding the potential expansion of the distribution network to 1,000 outlets.
Finally, COL is one of the two largest distributors of Nokia handsets in Hong Kong. COL represents the whole range of models.
Management is talking with Nokia about setting up a separate service centre for its customers.

China Online - Research vom 11.02.2000
http://www.finet.com.hk/cgi-bin/research/index.cgi?name=2000…
Company Update

China Online (0383.HK)

Stock Price (10/02/00): HK$0.32

Company Restructuring

China Online’s (COL) management recently revealed to us its company reorganisation is
close to completion and future business plans will be formally announced in the coming
two months. We understand COL aims to be a wireless communication service provider,
paying special attention to wireless application protocol services.

Handset Distribution
COL’s services will begin with handset distribution; the company is trying to secure
distribution rights for various brands in Hong Kong and has already been the Principle dealer
for Nokia. In the PRC, COL will use Tristar, its joint venture with Hikari Tsushin, to expand
its handset distribution market there. (Please also refer to our daily commentary of 21 January 2000).

Dividend Income
COL’s management strategy is to invest in profit-making Internet-related companies; COL
will thus benefit from the growth of the Internet by receiving dividends. Over the last month
COL bought 122.2mn Sun Hung Kai shares for $240.5mn as a long-term investment, and is
on the lookout for similar opportunities.

Acquisition
COL will also provide Internet content by acquiring content providers and forming strategic
alliances with companies that can transmit data, such as satellite or cable services. COL has
been identifying appropriate Internet content and service providers in the Greater China region
over the last few months, but no definite agreement has yet been made.
The acquisition route is a good way for COL to quickly establish its content provision
business but, as mentioned in previous commentary, COL’s restructuring could delay the
identification of suitable acquisition targets. Many companies have already jumped on the
Internet bandwagon by acquiring Internet content providers and we are concerned COL would
find it difficult to acquire such a company, offering unique features, for a reasonable price.
COL proposed alliances with data transmission companies should be treated positively as
such alliances are bound to benefit from the multimedia age; however, COL’s management
declined to give further details in this regard.

Cash Cow Company
In mid-January, COL had about $700mn cash on hand. Between 3 January and 2 February
COL sold 9.7mn Pacific Century CyberWorks (PCCW) shares for a $176.6mn cash return,
net of expenses; COL still holds 190.3mn PCCW shares and will treat them as a long-term
investment, according to the management. We estimate COL’s cash balance is $636.1mn,
which would certainly facilitate its acquisition plans.

SPEC. BUY

NAV Estimate
2.1% Stake in PCCW at $23.4 per share 4,453.0
Estimated NBV of Other Assets as of June 1999 105.1
Disposal of 9.7mn Shares of PCCW 176.6
Purchase of 122.2mn Shares of Sun Hung Kai (240.5)
Disposal of 400mn Shares of PCCW 492.0
Disposal of 111.3mn Shares of PCCW 117.5
Special Dividends (182.1)
Disposal of Star Paging Inc. (3.0)
Disposal of 71.09% Stake in Star Digitel 6.4
Disposal of Star Paging Telecom Technology (Shenzhen) (1.1)
Disposal of Cosmo Wealth Investment (0.3)

Base Case NAV 4,923.6
Existing Outstanding Shares (mn Shares) 9,152.9
Base Case NAV per Share ($) 0.538
Current Share Price (10/02/00) ($) 0.32
Premium / (Discount) to Base Case NAV (40.5%)
The counter is trading at a discount of 40.5% to our base-case NAV estimate, compared to
the discount of 35% we estimated in mid-January; the change is mainly due to the increased
value of PCCW shares. COL’s share price could be enhanced by its acquisitions, as investors
are still hot on the trail of Internet-concept stocks. The counter is therefore attractive, as the
downside risk appears limited.

China Online dropping PCCW
http://online.hkstandard.com/today/default.asp?PageType=bfr2
China Online dropping PCCW

By Hoi Leung

STORY: CHINA Online (Bermuda) said it would gradually dispose of its $3.7 billion worth of share holdings in Pacific Century
CyberWorks after deciding that PCCW has shifted the focus of its business strategy.
The company said it had already sold a a small number of shares of PCCW for $176 million, adding that it still did not know what
to do with the money.
China Online said its directors were thinking of further disposing of its remaining shares in PCCW.

``The directors of the company consider that there has been a divergence in the business strategy of PCCW since the PCCW
shares were originally acquired by the company,``said Stephen Law, director of China Online.

Last year, China Online had signalled plans to sell its holdings in PCCW but withdrew it in September, reducing the size of PCCW
shares being offered to investors from 560 million shares, or 7.28 per cent of PCCW, to about 230 million shares, or only 2.99 per
cent of the company.
Since then, PCCW has been aggressively purchasing companies, making at least six acquisitions worth about $650 million since
October last year. On Thursday it announced that it had acquired 5 per cent of Li Ka-shing`s Internet business Tom.com.

China Online`s disposal of PCCW shares would release part of its capital for future investment and was in line with the company`s
strategy of expanding its existing business.

The company said it sold a total of 9.7 million shares of PCCW between 3 January and 2 February at the Stock Exchange of Hong
Kong.
That number of shares sold represented 4.85 per cent of its PCCW share holdings.
China Online sold the shares at a price range of approximately $16 and $20.10 each.
After the sale, China Online had reduced its stake in PCCW from 2.2 per cent stake to 2.1 per cent or a total of 190.3 million
shares in PCCW.

PCCW shares closed on Thursday at $19.3 each, which values China Online`s holdings of PCCW shares at $3.67 billion.
The company planned to further dispose of its holdings of PCCW shares gradually, Mr Law said.
The company had no specific plans on how to use the net proceeds or for any acquisitions, he added.

PCCW is an independent third party not connected with China Online, its subsidiaries and respective associates, said China
Online.
The PCCW shares sold accounted for more than 15 per cent of the $520.8 million consolidated net tangible assets of China Online
as of 31 December 1998.
On 26 January, China Online announced it had acquired a 10.5 stake of interest in Sun Hung Kai & Company after the latter moved
into the online electronic stockbrokerage business. It paid $240.5 million for the acquisition.

Founded in 1978, China Online sold pagers imported from Japan and the United States. It went public in 1991, but its original
shareholders sold their stake in and relinquished control to China Strategic Holdings in 1996, after which China Online entered the
Chinese mobile telephone market.

China Strategic Holdings and China Online chairman Wong Kam-fu holds 68 per cent and 17 per cent of the two respective
companies.
China Online had itself controlled 73 per cent shareholding of Tricom Holdings Ltd before the latter was taken over by Richard Li
Tzar-kai`s group and renamed PCCW.

The company made a net profit of $365.74 million in the first six months of 1999 against a loss of $564 million for the whole of
1998. The loss was partly due to provisions of $363 million for interest in a subsidiary not consolidated.

China Online said it would diversify into provision of technical services for data communications products, system integration and
wireless communication products, system integration and wireless.

China Online (0383) reduces shareholding of PCCW (1186) for $177B
http://www.infocast-mdf.com/cgi-bin/newengframe.pl/news/02-0…
(Infocast News) China Online (0383) announced that the company has sold 9.7 million shares of Pacific Century CyberWorks
(1186) (PCCW) at selling price range from $16 to $20.1 each to get $177 million between the period 3 January and 2 February, the
reduction of shares represents 4.85% of the total number of shares of PCCW held by China Online. After the disposal, China
Online still holds 190.3 million shares of PCCW, worth $3.67 billion and represents about 2.1% of PCCW`s issued share capital.
However, China Online expressed the intention to further reduce the shareholding of PCCW`s shares.

China Online pointed out that after the company has swapped and got PCCW`s shares, the business strategy of PCCW has been
led astray, so the company decides to sell PCCW`s shares for getting cash as capital for other investment projects. The company
claimed that such an action matches with further development of the strategic investment of present businesses. Yet, no detailed
plans have been finalised to-date. The cash obtained will be allocated as working capital.

According to Sing Tao Daily, spokesman of PCCW said that it is not inexcusable that China Online sells the shares of PCCW for
cash, but it is astonishing to say that the business strategy of PCCW has been led astray. The spokesman claimed that there
are no substantial changes in the businesses of PCCW.

(08/02/00)



Research Artikel zu China Online
China Online (0383) - Dao Heng Securities Research
$0.32 Target: $0.54
21-JAN-2000 Daily Market Commentary - Core Pacific - Yamaichi
Als .pdf Datei, Research zu COL auf Seite 3
24-JAN-2000 China Online (0383) - Dao Heng Securities

Artikel zu den Beteiligungen von China Online
24-FEB-2000 China Online <0383> - Announcement
21-FEB-2000 Mansion House Rumoured to Link with New China Online
China Online (0383) increased shareholding in SHK Co. (0086) to 140 M shares
China Online (0383) acquires 10.5% Sun Hung Kai Company (0086)
The board of directors of the Company announces that it has acquired an aggregate of 122,197,000 shares in the issued share
capital of Sun Hung Kai & Co. Limited.
China Online <0383.HK> invests in Sun Hung Kai
China Online (0383) - Dao Heng Securities
PCRD sells China Online shares after 43% price gain
CHINA ONLINE<0383> - Change of Company Name
COL refers to the various press articles published on 1st and 2nd October, 1999.
CHINA STRATEGIC<0235> - Suspension of Trading
CHINA STRATEGIC<0235> & CHINA ONLINE<0383>-Announcement & Resumption
Following further disposals on 20th December 1999, the CSH Group and Mr. Oei Hong Leong have notified that their collective
shareholding interest in COL is 3,132,228,560 COL shares.
CHINA ONLINE<0383> & CHINA SCI-TECH<0985>-Joint Announcement
CHINA STRATEGIC<0235>& CHINA ONLINE<0383>-Joint Announcement & Resumption of Trading






Weitere Artikel zu China Online
Chinesische Perlen Artikel im Spiegel; hier wird eine China Online als Internet-Provider genannt, allerdings ohne Code oder WKN.
Mail von der Spiegel-Redaktion:
Sehr geehrter Herr Weschta,

vielen Dank für Ihre Zuschrift. Ich habe folgende Angaben zu dem von Ihnen
genannten Artikel vorliegen:

China Online
Wertpapierkennnummer: 885023

Sollte Ihnen diese Angabe nicht ausreichen, teilen Sie es mir bitte mit. Ich
werde mich dann in unserer Dokumentation erkundigen.


Mit freundlichem Gruß

SPIEGEL-Verlag
Leser-Service

ich weiß, die zocker werden mich verfluchen, aber vielleicht finden sich hier auch genügend trader, die ähnlich wie ich denken.
gruß bea

| home |



© copyright 1998 - 2000 zyber

[Standing Bull]

Was ist denn jetzt mit dem Beitritt Chinas zur WTO?
Angeblich ist der Knackpunkt, daß Peking von allen Firmen, die irgendwie über chinesische Leitungen verschlüs-
selte Informationen verschicken oder empfangen wollen, eine Registrierung fordert, um den Datenfluß
kontrollieren und Staatsverrat verfolgen können.
Wenn China in diesem Sinne der WTO fernbleibt und den Ausbau des Internets im Lande bremst, ist das zumindest kontraproduktiv für den erhofften chinesischen Internet-Boom.
Ich habe zwar keine Aktien von China Online, aber von Founder und Sino-I, und bezgl. der o.g. Frage sitzen wir doch
wohl alle in einem Boot, wobei ihr China Online-Anhänger freilich die heißesten Zocker seid und folglich auch am allerbesten informiert sein solltet!

[regi]

!

Dieser Beitrag wurde vom System automatisch gesperrt. Bei Fragen wenden Sie sich bitte an [e-mail]

[goony]

Artikel aus Spiegel vom 02.03.:

China will mit Neuen Markt
durchstarten

China setzt verstärkt aufs Internet. Der
E-Commerce soll die Wirtschaft im Land ankurbeln.
Passend dazu soll offenbar schon in diesem Jahr an
der chinesischen Börse ein Marktsegment
vergleichbar dem Neuen Markt entstehen.

Schanghai - Vertreter des
Ministeriums für die
Informationsindustrie empfahlen
während einer Fachkonferenz in
Schanghai, den E-Commerce
massiv auszubauen. So sollen
sich die rund 570 chinesischen
Websites, die im E-Commerce
tätig sind, innerhalb eines
Jahres verdoppeln. Für 2002 wird
bereits ein Jahresumsatz von
1,2 Milliarden US-Dollar
vorhergesagt.

Damit junge Unternehmen der IT-Branche, die im Zuge
des Internetbooms in China entstehen werden, an
Kapital herankommen, wird offenbar in der zweiten
Jahreshälfte an den Börsen in Shanghai und Shenzhen
ein Neuer Markt starten. Wie ein einheimischer Analyst
sagte, wird sich die Börse an dem Vorbild des
Hongkonger Growth Enterprise Market orientieren. Der
Plan zur Schaffung eines solchen Segmentes wurde
bereits Ende Januar bekannt gegeben, nur der genaue
Zeitpunkt war unklar.

Hintergrund sind Befürchtungen chinesischer
Investoren, dass einheimische High-Tech-Unternehmen
zum Listing nach Hongkong abwandern würden. Einige
chinesische Internet- und Hightech-Unternehmen
bemühen sich derzeit bereits um eine Notierung an der
New Yorker Nasdaq oder an Hongkongs Growth
Enterprise Market.

Strikte Auflagen und unklare Investoren-Bestimmungen
im Internet verunsichern bislang die chinesische
Branche. So hatte die Regierung in Peking
beispielsweise Ende Januar strengere Regeln für den
Austausch von Informationen im Internet erlassen und
damit die Kontrolle über die Industrie verschärft. Wie
mit ausländischen Investoren, die sich auf dem Markt
engagieren wollen, verfahren wird, entscheidet sich
wahrscheinlich erst, wenn China in die
Welthandelsorganisation eintritt.

Die Zahl der Internetnutzer in China wächst rasant.
Ende 1999 gab es in China fast neun Millionen
Internetnutzer. Bis Ende 2000 wird sich die Zahl nach
Einschätzung des verantwortlichen Ministeriums auf
etwa 20 Millionen Nutzer erhöhen.


cu
goony

[goony]

China Online (Bermuda) Limited
(the `Company`)
(Incorporated in Bermuda with limited liability)
PROPOSED MAJOR TRANSACTION


The board of directors of the Company announces that a circular
will be despatched to shareholders of the Company in relation to the
obtaining of a mandate by the directors of the Company to further
realise the Company`s investment in shares in Pacific Century
CyberWorks Limited.


Introduction:
On 21st February, 2000, the Company despatched a circular to its
shareholders in relation to the realisation of an aggregate of
12,700,000 shares in Pacific Century CyberWorks Limited (`PCC`).

If the Company continues to realise its remaining holding of
187,300,000 shares in PCC (`PCC Shares`) (representing approximately
1.9 per cent. of the issued share capital of PCC and booked at a
carrying cost of approximately HK$259,400,000), The Stock Exchange of
Hong Kong Limited has the discretion to aggregate the value of all
realisations of PCC Shares by the Company when determining whether
such realisations constitute, in aggregate, a major transaction for
the Company under the Rules Governing the Listing of Securities on
The Stock Exchange of Hong Kong Limited (the `Listing Rules`).

Under the Listing Rules, if the aggregate value of, or consideration
received from, the realisations of PCC Shares by the Company
represent 50 per cent. or more of the Company`s adjusted net asset
value, the realisations will constitute a major transaction for the
Company and will be subject to the approval by the shareholders of
the Company.

Accordingly, a circular will be despatched to shareholders of the
Company on 24th February, 2000 to seek their approval to grant a
mandate to the directors of the Company to realise the Company`s
investment in PCC Shares.

Reasons for the Realisation:
The Directors of the Company consider that there was a divergence in
the business strategy of PCC since the PCC Shares were originally
acquired by the Company. The Company therefore decided to realise the
PCC Shares so as to release part of its capital for future investment
which was in line with the Company`s strategy of expanding its
existing business, although there are no firm plans for any specific
acquisitions at this time. In view of the above, it is the current
intention of the Company, subject to compliance with the Listing
Rules, to further realise its holding of PCC Shares gradually when
the market price of PCC Shares is favourable.

According to the latest annual report of PCC, the loss before
taxation and extraordinary items for the financial years ended 31st
December, 1997 and 1998 were HK$4,125,000 and HK$61,457,000
respectively, and the loss after taxation and extraordinary items for
the financial years ended 31st December, 1997 and 1998 were
HK$5,519,000 and HK$63,860,000 respectively.

Use of proceeds:
The directors of the Company do not currently have any specific
plans as to how the net proceeds from the realisation of PCC Shares
will be used and intend to use such proceeds as general working
capital of the Company.

A further announcement will be made at the relevant time when
further realisations of PCC Shares are made.

The Company is an investment holding company and it is, through its
subsidiaries, involved in mobile phone distribution in Hong Kong,
investing with strategic partners in distribution networks in the
People`s Republic of China, and strategic investments.

By Order of the Board
China Online (Bermuda) Limited
Stephen W.K. Law
Director



Hong Kong, 23rd February, 2000


cu
goony