SOURCE: Five Star Equities

Five Star Equities

April 24, 2012 08:20 ET

Shares of SINA and Dangdang Dip After China's PMI Rating Signals Sixth Straight Month of Contraction

Five Star Equities Provides Stock Research on SINA Corp. and Dangdang Inc.

NEW YORK, NY--(Marketwire - Apr 24, 2012) - After a red-hot first quarter Chinese internet stocks have cooled off recently as concerns about China's economic growth have stalled their impressive start to 2012. Chinese stocks took a dip after a preliminary reading of China's purchasing managers' index signaled a sixth consecutive month of contraction. Five Star Equities examines the outlook for Chinese internet stocks and provides equity research on SINA Corporation (NASDAQ: SINA) and Dangdang Inc. (NYSE: DANG).

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Chinese Premier Wen Jiabao last month, in his annual state-of-the nation report, forecasted China's 2012 growth rate to be 7.5 percent. This is the lowest pace of expansion since 1990 and well down on last year's 9.2% growth rate. Concerns about China's economy continue to grow as more recently China's purchasing managers' showed a preliminary reading of 49.1 according to HSBC Holdings Plc and Markit Economics. In the report any number less than 50 signals contraction. This report supports the growing concerns that the second biggest economy in the world may continue to stall.

Five Star Equities releases regular market updates on Chinese internet stocks so investors can stay ahead of the crowd and make the best investment decisions to maximize their returns. Take a few minutes to register with us free at and get exclusive access to our numerous stock reports and industry newsletters.

SINA Corporation recently announced its unaudited financial results for the fourth quarter and fiscal year ended December 31, 2011. Fourth quarter net revenues grew 21% year over year to $133.4 million. Non-GAAP net revenues grew 23% year over year to $128.7 million, within the Company's guidance of between $128.0 million and $131.0 million.

Dangdang Inc., a leading business-to-consumer e-commerce company in China, announced that it formed a strategic alliance with Gome Online and launched a B2B2C e-commerce platform in Dangdang's marketplace focusing on electronics and computers products. Gome Online is the online retail of Gome Electrical Appliances Holding Ltd., a leading Chinese electronics retailing brand.

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