Below is the latest notable news on U.S.-listed Chinese stocks. Baidu.com, Inc.
(NASDAQ:BIDU) confirms acquisition of photo apps developer PhotoWonder, reports
Chinabyte.com. PhotoWonder is an app for editing pictures on mobile phones. Its
Android version has a high rating of 4.3 based on votes by 39,970 users. Hesong
Tang, an executive at Baidu, told reporters that the company is willing to
invest or acquire more start-up teams with accurate understanding of user demand
and strong innovative ability. E Commerce China Dangdang Inc (NYSE:DANG) plans
to build 100,000-square-meter logistics center to cover mid-west China, reports
Chengdu.cn. The plan was mentioned by Dangdang CEO Guoqing Li at the 2011 China
Online Retail Annual Conference. The logistics center will be built at a city
with solid infrastructures. Mr. Li also told reporters that Dangdang will speed
up its initiatives in second-hand and digital books. Dangdang recently purchased
a large piece of land in Tianjin, where it plans to build its largest
fulfillment operations center in China. Renren Inc (NYSE:RENN) partners with HTC
to launch a social networking cell phone, reports Tech.sina.com.cn. Yizhou Chen,
CEO of Renren, says that this partnership will increase the stickiness of
Renren.coms users. He also believes the "smart devices+social networking
services" model will help the further integration of Chinas mobile
communications industry chain. In addition, Mirae Asset Securities reiterates
Buy rating on Renren Inc (NYSE:RENN), and cuts price target from $6.5 to $6.
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