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2017年12月12日 21:47:11 | 作者:华龙大夫 | 来源:新华社
China#39;s appetite for US assets was stifled on Tuesday after Fairchild Semiconductor turned down a .6bn bid from Chinese state-backed enterprises over fears that the deal would be blocked by US regulators.周二,中国对美国资产的浓厚兴趣被浇了一盆冷水,飞兆半导体(Fairchild Semiconductor,亦称“仙童半导体”;当前半导体行业巨擘英特尔(Intel)、AMD等的创始人均出身此公司——译者注)拒绝了中国政府背景企业发出的26亿美元的收购要约,原因是担心会受到美国监管机构的阻挠。The California-based company chose an offer by US rival ON Semiconductor instead of a higher bid by China Resources and Hua Capital, highlighting the difficulties for Chinese groups in securing sensitive assets in America.总部位于加利福尼亚州的飞兆选择接受美国竞争对手安森美半导体(ON Semiconductor)发出的收购要约,而不是由华润(China Resources)和华创投资(Hua Capital)发出的开价更高的收购要约,这一事实凸显出中国企业在美收购敏感资产面临的困难。ON Semiconductor agreed to acquire Fairchild for per share in cash, while the Chinese consortium countered with .70 per share in cash.安森美同意以每股20美元全现金收购飞兆,而上述中国财团的还价是每股21.70美元全现金收购。Fairchild#39;s decision may unsettle ChemChina, which has agreed to buy Swiss agribusiness company Syngenta for bn, marking China#39;s largest overseas takeover in history.飞兆的决定也许会令中国化工(ChemChina)感到不安。后者已同意以440亿美元收购瑞士农业企业先正达(Syngenta),这是有史以来最大手笔的中资海外收购。The Chinese chemicals group has been trying to reassure politicians in Washington that the acquisition of Syngenta, which has a presence in the US, poses no risks to national security.这家中国化工集团一直在努力说华盛顿的政客相信,其对先正达的收购不会对美国造成国家安全方面的风险。先正达在美国有业务。The Committee on Foreign Investment in the US, last month blocked a .1bn sale of a lighting unit from Philips, the Dutch conglomerate, to a Chinese consortium due to “unforeseen concerns”.上个月,美国外国投资委员会(Committee on Foreign Investment)以“预想不到的担忧”为由,封杀了荷兰集团飞利浦(Philips)将旗下照明部门以31亿美元卖给一家中国财团的交易。Last year, a planned bn bid for chipmaker Micron by Tsinghua Unigroup, the Chinese state-owned semiconductor business, was aborted partly because it had little confidence it could complete the deal.去年,中国国有半导体企业清华紫光(Tsinghua Unigroup)以230亿美元收购芯片制造商美光(Micron)的计划夭折,部分原因在于紫光对自己能够完成这宗交易没有什么信心。;Chinese companies are desperately trying to buy assets outside of their home market but they are aware that the US isn#39;t the easiest place to get deals approved,; said a senior banker in New York.纽约一名资深家表示:“中国企业正竭尽全力在海外市场收购资产,但他们知道,要让交易在美国交易获批可不那么容易。”However, another banker said that CFIUS’s tough stance on Chinese takeovers would not prove a deterrent for Beijing-backed buyers.不过,另一名家表示,美国外国投资委员会对中资收购交易的强硬立场,不会对中国政府背景的买家起到吓阻作用。;They will keep on trying... have a mandate to buy foreign assets and they will keep finding ways in,; said an adviser who works with Chinese buyers.一名与中国买家合作的顾问表示:“他们会继续努力……收购海外资产是他们的一项任务,他们会继续想方设法去办。”So far this year, four of the five biggest cross-border deals have involved Chinese groups bidding for US and European assets worth .7bn in total.今年到目前为止,规模最大的5宗跨境并购交易中,有4宗涉及中国企业竞购美国和欧洲资产,交易总价值为617亿美元。 /201602/427231Apple turned in another quarter of enviable revenue and profit growth, fueled by sales of the iPhone, but more muted times may lie ahead.在iPhone销量的帮助下,苹果再次交出令人羡慕的营收和利润成绩。但该公司未来的业绩可能会相对逊色。The company, the world’s most valuable, on Tuesday posted a profit of .1 billion for its fiscal fourth quarter, up 31 percent from a year ago. Revenue was .5 billion, up 22 percent from last year. The results exceeded Wall Street estimates compiled by Bloomberg for earnings of .88 a share and billion in revenue.作为全世界市值最高的公司,苹果周二公布,第四财务季度利润111亿美元,同比上涨31%。营收515亿美元,同比增加22%。这样的结果超出了华尔街预期的每股1.88美元的收益和510亿美元的营收。华尔街的数据是由彭(Bloomberg)整理的。While the performance was bolstered by sales of the iPhone — the company said that it sold 48 million iPhones in the quarter, up from 39 million in the same period last year — Apple was more cautious about sales in the coming few months during the key holiday sales period.苹果称该季度卖出了4800万部iPhone,与去年同期的3900万部相比有所增加。尽管iPhone的销量撑了业绩表现,但接下来几个月将进入关键的假日销售期,苹果对这期间的销售数据更为谨慎。For its fiscal first quarter, Apple said revenue would be .5 billion to .5 billion. That would be up from .6 billion a year earlier, but below Wall Street estimates of billion at the low end.在第一财季,苹果称营收将在755亿到775亿美元。这个数字和一年前的746亿美元相比有所增加,但仍低于华尔街预测的770亿美元下限。The forecast follows a busy period of new product introductions for Apple. In late September, Apple introduced its newest iPhone models, the 6s and 6s Plus. It also announced a larger iPad, the iPad Pro, and will begin shipping a new Apple TV this week.预测数据出炉前的一段时间,苹果频繁推出新产品。9月末,苹果推出了最新款的iPhone 6s和iPhone 6s Plus。此外,苹果还发布了一款屏幕更大的iPad型号iPad Pro。本周,新款Apple TV也将开始出货。“We are heading into the holidays with our strongest product lineup yet,” Timothy D. Cook, Apple’s chief executive, said in a statement.“我们正以史上最强的产品阵容进入假日季,”苹果首席执行官蒂莫西·D·库克(Timothy D. Cook)在一份声明中说。The outlook may fuel investor questions. In the weeks leading up to Tuesday’s earnings announcement, analysts had expressed concern that the iPhone 6, which came out last year, had set such a high bar for sales that customers would not upgrade to the newest models at a rate fast enough to generate significant growth.这样的前景可能会引发投资者的疑问。在周二公布收益之前的几周,分析人士表示了担忧,认为去年推出的iPhone 6销量太高,消费者升级至最新款iPhone的速度不会太快,不能带来显著的增长。“With the battle on in the high-end smartphone market, Apple needs to prove it still has fuel in the tank with 6s and needs to show a strong growth trajectory heading into holiday season,” Daniel Ives, an analyst at FBR Capital Markets, said in an interview.“在高端智能手机市场上战火熊熊之际,苹果需要用6s明自己的油箱里还有燃料,需要表明强劲的增长可以延续到假日季,”FBR资本市场公司(FBR Capital Markets)分析师丹尼尔·艾夫斯(Daniel Ives)在接受采访时说。The region that Apple calls Greater China remained the company’s second-largest market after the Americas, accounting for 24 percent of sales in the quarter, compared with 13.7 percent a year ago. Investors are scrutinizing the China business given that the country has been cutting interest rates to shore up a slowing economy.被苹果称作大中华区的地区,仍是其仅次于美洲的第二大市场,贡献了24%的销量,而一年前这个比例是13.7%。考虑到中国一直在通过降息来撑日渐放缓的经济,投资者对中国市场的表现颇为关注。Apple said that iPad sales fell 20 percent from a year ago, making it the seventh consecutive quarter that sales of the tablet have declined. The company is increasingly positioning the iPad as a business device.苹果称,iPad销量与一年前相比下降了20%。这是其销量连续第七个季度下跌。该公司正日益把iPad定位为商务设备。The company did not break out sales of the Apple Watch, which debuted in April. But the category within which the watch is grouped posted billion in revenue in the quarter and Apple said the device helped fuel sales. .苹果公司未公布4月问世的Apple Watch的销量。但该产品所属类别的营收是30亿美元,且苹果称Apple Watch帮助带动了销售。Apple also said that it would pay investors a cash dividend of 52 cents a share. Over the last few years, Apple has taken advantage of low interest rates to borrow billions of dollars that it has redistributed to shareholders in the form of dividend payments and stock buybacks.苹果还表示将向投资者发放每股52美分的现金分红。过去几年,苹果利用低利率大量借债,并以分红和股票回购的形式将这些钱再分配给股东。 /201510/406507

The millions of New Yorkers who pour out of crowded subway cars and into high-tech jobs in Manhattan every day would be taken aback to see inside the 4th Street signal tower. The tower — a subterranean room in Greenwich Village — is a veritable museum of ancient, electromechanical technology, some of it dating back to the 1930s and 1940s. 纽约每天有数百万人从拥挤的地铁车厢蜂拥而出、然后奔向曼哈顿的各个高科技岗位。如果他们看到第四街(4th Street)信号室内部的样子,可能会大吃一惊。位于格林威治村(Greenwich Village)地下的这间信号室是一个名副其实的物馆,展示着古旧的电机技术,其中某些部分可追溯至上世纪三四十年代。 The technology still controls trains safely but it is growing harder to maintain. The system’s limitations also restrict the number of trains the Metropolitan Transportation Authority (MTA), the subway system’s operator, can operate at the busiest times. 这种技术仍安全地调控着地铁,但越来越难以维护。该系统的局限性也限制了地铁系统运营方纽约大都会交通署(Metropolitan Transportation Authority)在高峰期能够运营的最大列车数量。 Two companies, Germany’s Siemens and France’s Thales, face the formidable challenge of replacing outmoded technology on key parts of the system with modern electronic systems that will cost less to maintain and increase capacity. 德国西门子(Siemens)和法国泰雷兹(Thales)这两家公司面临这项艰巨的挑战:用维护成本较低、能够增加运力的现代电子系统,去替换地铁原有信号系统关键部位的过时技术。 Yet they face the task not only of making the new communications-based train control (CBTC) system work with older technology but also of installing it on a network that operates round the clock. This all-day, all-night operation sets New York apart from other old metro systems such as London and Paris, which have made far more rapid progress in installing CBTC signalling. 然而,它们不仅面临让新的基于通信的列车控制(CBTC)系统与老技术兼容的任务,而且还得把它安装在一个全天候运营的网络中。这种24小时不间断运营让纽约的地铁系统不同于伦敦和巴黎等其他较旧的地铁系统,后者在安装CBTC信号系统方面取得了更为迅速的进展。 “The railroad doesn’t stop,” Kevin Riddett, head of Siemens Mobility business in the US, says. “You get very limited access.” 西门子交通(Siemens Mobility)业务美国负责人凯文#8226;里德特(Kevin Riddett)表示:“地铁系统不会停下来,我们的安装操作非常受局限。” One problem is the lack of clear records about what was installed in the first place. The work is also going to move quickly beyond the two discrete lines where installation has been tried first — the Canarsie line, which carries the L train from Manhattan to outer Brooklyn, and the Flushing line that carries the 7 train through Queens. The system started operating on the Canarsie line in 2007 and is due to go into operation on the 7 train next year. 一个问题在于缺乏原本安装了什么的清晰记录。工程还将迅速扩展至首次试安装CBTC系统的两条互不相连的线路以外。这两条线路一条是从曼哈顿至远郊布鲁克林的运营L号线的卡纳西线(Canarsie line),另一条是从曼哈顿到皇后区运营7号线的法拉盛线(Flushing line)。该系统从2007年开始在卡纳西线运营,并计划从明年起在7号线上运营。 Siemens and Thales were last year both awarded contracts to start installing CBTC on the Queens Boulevard Line. Like much of the New York subway, the four-track line is used by multiple different services. All the trains operating on the route will need technology to communicate with the new signals. 西门子和泰雷兹(Thales)去年全都获得了在IND皇后大道线(Queens Boulevard Line)开始安装CBTC系统的合同。与纽约地铁许多线路一样,这条四轨线路供多个不同的务使用。所有在该线上运营的列车都将需要技术装备来与新的信号系统通讯。 The award of the contracts for work on Queens Boulevard was a sign of the MTA’s determination to make improvements across the network, Thomas Prendergast, the MTA’s chairman, said in July when awarding the work. MTA主席托马斯#8226;普伦德加斯特(Thomas Prendergast)在去年7月授予这些合同时表示,授予这些在IND皇后大道线上作业的合同,表明MTA决心升级改造整个网络。 Installation of CBTC has allowed a substantial increase in L train services. CBTC系统的安装使得L线列车出勤大幅增加。 “CBTC represents the MTA’s efforts to bring advanced technology to a century-old subway system that, in some parts, has not been updated in decades,” Mr Prendergast said. 普伦德加斯特表示:“CBTC代表着MTA向一个拥有百年历史的地铁系统引入先进技术的努力,这个地铁系统的某些部分已有几十年没有升级改造过。” However, Mr Riddett also points out that CBTC installation on the Canarsie line took a painful seven years as the company struggled to adapt microprocessor-based technology for the first time to the subway. He is hopeful the Queens Boulevard work will be far faster and that the MTA should start working faster on installation elsewhere. 然而,里德特也指出,在卡纳西线上安装CBTC系统耗费了7年时间、过程艰辛,因为该公司很难将基于微处理器的技术首次运用于地铁上。他预计IND皇后大道线的工程进展将会快得多,而且MTA应该会更快开始在其他线路上安装这一系统。 “All of the technology is proven out for Queens Boulevard,” he says. 他说:“在IND皇后大道线上安装的时候,这项技术已全部经过了检验。” /201603/431863

At billion, Uber has become more valuable more quickly than any other start-up we’ve seen in recent years — faster than Facebook FB 2.03% , Google GOOG 0.43% , Amazon.com AMZN 0.50% and Salesforce.com CRM 0.29% , according to our analysis of VC-backed start-ups founded since Uber was created in 2009. Earlier this month when the taxi service announced a round of financing that gave it a billion valuation at 5.93 years old, Uber set itself apart. At the same stage, Facebook was valued at about billion, while Google was just over billion.打车应用务公司Uber目前估值已经达到410亿美元。我们发现这家公司自2009年成立以来,是由风投持的初创型企业中增值最快的一家,超过了Facebook、谷歌(Google)、亚马逊(Amazon.com)和云计算务供应商Salesforce.com。本月早些时候Uber宣布了新一轮融资消息,公司估值在成立5.93年后达到410亿美元,在市场中脱颖而出。在同一阶段,Facebook的估值约为320亿美元,谷歌的估值则刚刚超过30亿美元。Uber’s valuation does not guarantee it will be the next long-term superstar. But if the company can use its rapidly rising valuation to accelerate its expansion, it has a real shot at both beating its competitor, Lyft, and growing beyond personal transportation. Further, it can expand it’s services — potentially to delivery, logistics, other adjacent markets. To be sure, Uber is facing an ever increasing amount of challenges, from legal battles with local governments, to bad PR for the way it portrays women, all of which could hamper its growth and damage its brand. Additionally competitors like Lyft are nipping at its heals and more will surely come as the market for smart-phone powered point-to-point transportation expands. Despite these problems, Uber’s lead is so large and its value has grown so quickly, it would have to stumble badly to lose the battle for supremecy in this new space.但这样的估值并不能保Uber成为下一个持久的超级巨星。但如果该公司能将快速攀升的价值用于提高扩张速度,它就真的有可能击败竞争对手Lyft,并将业务延伸到个人交通领域之外。Uber可以进一步将其范围扩大到快递、物流以及其他相关市场。当然,Uber面临的挑战也与日俱增,比如和地方政府的法律纠纷,再比如涉嫌不尊重女性的糟糕公关,所有这些都可能对其发展和品牌产生不利影响。此外,Lyft等对手正在奋起直追;而且,随着基于智能手机的点对点(P2P)交通务市场继续扩大,必将出现更多竞争者。不过,虽然存在这些问题,但在如此巨大的领先优势和增速之下,除非Uber犯下大错误,才会在这个新兴领域的王者争夺战中落败。This comes amid the development of two important trends. First, among all VC-backed technology start-ups created since 2009, the rate at which their values have risen is three times faster today compared to just a decade ago. This increase in “time to market cap”, the measures how quickly companies increase in value, has become a major advantage for modern startups as they are able to build massive financial war chests at speeds never seen before. With this latest financing Uber has become the time to market cap champ.伴随Uber成长的有两大趋势。首先,就所有2009年以来成立并且获得风投持的科技初创公司来说,其价值上升速度与10年前相比快了三倍。作为衡量公司价值增速的指标,“市值形成速度(time to market cap)”的提升已经成为现代初创企业的一项主要优势,因为它们可以用前所未有的速度筹集到巨额资金。最新一轮融资过后,Uber已经在这场速度较量中成为冠军。What’s more, it appears that new markets are being dominated by one company, especially in tech. Uber’s latest valuation is partly driven by how quickly the company is expanding abroad, but it also reflects demand for a growing global market for on-demand transportation, and Uber’s dominance in this category for years to come.其次,新兴的市场看来都由一家公司主导,特别是在科技领域。Uber最新估值提升的部分动力来自该公司在海外的迅速扩张,但这也体现了全球按需交通务市场的不断扩张和由此带来的需求,以及今后几年Uber在这个领域的统治地位。We like to call Uber a “Category King” — companies that define, develop and dominate new markets. Airbnb is doing that in on-demand rentals. Salesforce.com did it in cloud-based CRM. Of the 80 or so billion companies founded since 2000, half are Category Kings. They are more valuable than all the other companies in their categories combined. These firms routinely take more than 70% of the total available market cap of their market.我们倾向于把Uber称为“细分类之王”,即那些定义了一个全新市场,并大力开拓,占据市场主导地位的公司。Airbnb就在按需租房领域扮演着这样的角色。在基于云技术的客户关系管理务市场,Salesforce.com也是如此。2000年以来成立而且市值达到10亿美元的公司有80家左右,其中一半都是“细分类之王”。它们的价值超过了本领域其他公司的价值之和,而且往往占据所在市场中所有公司总市值的70%以上。Uber is clearly being valued as the king of a new category that stretches way beyond taxi rides. Investors see potential in on-demand delivery from Uber vehicles, for instance. Unless Uber screws up, its competitors, such as Lyft and Sidecar, will fade into the background. If Uber truly proves to be the Category King in a vastly expanding new category, it’s record valuation will seem rational.显然,人们在评估Uber的价值时,认为其所统领的新领域将远远超越出租车务。举例来说,投资者就看到了Uber车辆的按需递送的潜力。除非Uber自毁前程,否则Lyft和Sidecar这样的竞争对手就只能生活在其阴影之中。如果Uber能明自己在一个大范围扩张的新领域居于王者之位,该公司创纪录的估值就应该属于合理水平。Al Ramadan, Christopher Lochhead and Dave Peterson are co-founding partners at Play Bigger Advisors, a San Francisco-based firm that coaches technology executives to build market-leading companies. Neither the firm or its partners have investments in Uber, Lyft, Google, Amazon.com or Salesforce.com.本文作者艾尔o拉马丹、克里斯托弗o罗克海德和戴夫o彼得森是Play Bigger Advisors公司联合创始人。这家总部位于旧金山的咨询机构致力于指导科技公司高管如何打造市场领先的公司。该公司和这三位合伙人均未向Uber、Lyft、亚马逊或Salesforce.com投资。(财富中文网) /201412/349390

Sands China has turned to a gaming outsider with political links to Beijing as its new chief operating officer, an effort to strengthen ties to government as the sector struggles with tumbling revenue.金沙中国(Sands China)任命了一名行业外的、在北京拥有政治人脉的人士出任新的首席营运总裁,以加强与政府的联系。行业目前正疲于应对营收锐减。The Hong Kong-listed unit of Sheldon Adelson’s Las Vegas Sands has chosen Wilfred Wong, a former construction executive, to take on the role of chief operating officer and president, replacing Rob Goldstein following his move to the US parent company.金沙中国是谢尔登阿德尔森(heldon Adelson)旗下金沙集团(Las Vegas Sands)的香港上市子公司。该公司已选择前建筑业高管王英伟(Wilfred Wong)出任其总裁兼首席营运总裁,接替即将回到美国母公司的罗布戈尔茨坦(Rob Goldstein)。Mr Wong was a member of China’s National People’s Congress from 2007-2012 and has served in various posts in both the Hong Kong and central government.王英伟曾在2007年至2012年担任中国全国人大代表,并曾在香港和中央政府内担任过不同的职务。Analysts at Bernstein Research pointed to his “strong ties” to the Chinese government as the key to his appointment, adding that they expect his main responsibility to be acting as a liaison with officials in Macau and Beijing.伯恩斯坦研究公司(Bernstein Research)分析师指出,王英伟与中国政府的“密切关系”是他获此任命的关键因素。这些分析师还表示,他们认为他的主要职责是充当金沙中国与及中央政府官员之间的联络人。 /201509/399513

When Alibaba publishes its quarterly earnings in New York today, the Chinese ecommerce group will face the clamour from a crowd of increasingly sceptical investors.阿里巴巴(Alibaba)将于今日在纽约发布其季度盈利财报。届时,这家中国电子商务集团将面临一群日益对其持怀疑态度的投资者的公开质疑。There is a palpable sense among analysts that Alibaba’s honeymoon — which saw the ecommerce group break records with last year’s bn New York listing — is over.在分析师中间,存在一种不难察觉的想法:阿里巴巴的蜜月期结束了。在此前的蜜月期中,这家电子商务集团曾于去年在纽约以250亿美元的上市规模创下记录。Since November, Alibaba’s share price has fallen from more than 9 to earlier this week — the first time its shares have dipped below since its record-breaking initial public offering in September.自去年11月以来,阿里巴巴的股价已从每股119美元跌至本周早些时候的每股79美元。这是该集团去年9月创纪录的IPO以来股价首次跌破80美元。Analysts will be watching the earnings announcement for any evidence of sluggishness in revenue growth, which undershot expectations at Alibaba’s previous results statement in January. They will also be looking for clarity on government attempts to regulate ecommerce and how this will affect the company’s profits.分析师将密切关注阿里巴巴的财报,寻找任何营收增长疲软的据——今年1月阿里巴巴前一份财报中的该指标就未能达到预期。此外他们还将关注的是,阿里巴巴将如何澄清政府部门对电子商务的监管、及其对阿里巴巴盈利的影响。“There is a lot of concern about just how sustainable is the hype around Alibaba,” said Shaun Rein, head of China Market Research Group, the Shanghai-based consultancy. “The share price went out of control after the IPO but all the hedge funds we were talking to said: ‘We want to get in before anyone else does, and we want to get out before anyone else does.’ ”上海咨询公司中国市场研究集团(China Market Research Group)主管雷小山(Shaun Rein)表示:“许多人担心的是,围绕阿里巴巴的宣传噱头会持续多久。在IPO之后,阿里巴巴的股价已经失控。然而,与我们对话的对冲基金都表示:‘我们希望在其他人入场前入场,还希望在其他人离场前离场。’”Alibaba will be hoping that Thursday’s earnings announcement receives a better reception than its previous one in January, which sent its stock down 10 per cent on weaker than expected revenues. But perhaps most of the damage was due to Alibaba’s dispute with the State Administration for Industry and Commerce, a Chinese regulator.从阿里巴巴的角度来说,他们会希望投资者对周四财报的接受程度能高于1月份的前一份财报。由于营收弱于预期,今年1月的财报曾导致阿里巴巴股价下跌10%。不过,也许导致阿里巴巴股价损失的最大原因,应该是该集团与中国监管机构国家工商行政管理总局(State Administration for Industry and Commerce)之间的争端。In January SAIC said it had found evidence of bribery, fake listings and counterfeit goods on Taobao, Alibaba’s most popular consumer marketplace.今年1月,国家工商局表示,该机构发现了淘宝(Taobao)网站贿赂行为、虚假销售清单及假冒商品的据。淘宝是阿里巴巴旗下人气最高的购物市场平台。The attention from regulators spooked some investors, said Chi Tsang, internet analyst covering Alibaba for HS in Hong Kong.香港汇丰(HS)研究阿里巴巴问题的互联网分析师Chi Tsang表示,监管机构的关注令部分投资者感到害怕。“Some think the government may yet force Alibaba to drop all these merchants that are selling fake goods, and if so, what is that going to do to sales on Taobao?” he asked.他说:“部分人认为,政府也许还未迫使阿里巴巴下线那些销售伪劣商品的商家,如果他们这么做,这会对淘宝的销售产生什么影响?”Mark Natkin, director of Marbridge Consulting, the Beijing-based internet consultancy, said the SAIC row had “planted a coconut-sized seed of doubt in everyone’s mind” about Alibaba’s business model.Marbridge Consulting董事马克#8226;纳特金(Mark Natkins)表示,与工商总局的争端“在每个人心目中埋下了(针对阿里巴巴商业模式的)巨大疑窦”。Marbridge Consulting是一家总部驻北京的互联网咨询公司。“The SAIC’s report didn’t tell anyone anything they didn’t aly know,” he said. “The fact that there are a lot of fake products on Taobao has never really bothered anyone, but now that the government seems serious about regulation, people don’t know what cleaning that up will mean for Alibaba’s bottom line.”他说:“工商总局的报告所说的,全部是大家都知道的事实。淘宝网站充斥大量伪劣产品的事实从未真正困扰过任何人。然而,政府如今似乎要严肃对待淘宝网的监管问题。人们不太清楚的是,这一清理工作会对阿里巴巴的盈利产生什么影响。”The lower than expected revenues in January, added Mr Tsang, partly reflected a switch to mobile by many users — a platform that generates smaller revenues because merchants are unwilling to pay as much for mobile advertising.Chi Tsang补充说,1月份阿里巴巴营收低于预期,部分反映出许多用户转向了移动设备。由于商家不愿为移动广告付同样多的费用,移动平台带来的营收相对要少一些。Mr Rein said another concern was that Alibaba was paying the price for its pre-IPO corporate shopping spree, and a hiring glut that raised staff headcount by nearly 50 per cent.雷小山表示,人们还担心的问题是,阿里巴巴正在为IPO前的疯狂收购行为及其过度招聘行为付出代价。在之前的过度招聘行为中,阿里巴巴的员工人数增长了近50%。Jack Ma, Alibaba’s chairman and founder, recently responded to accusations of bloat by declaring a hiring freeze along with other austerity measures, such as not paying workers a traditional spring festival bonus.最近,为回应阿里巴巴过度膨胀的说法,阿里巴巴创始人兼董事长马云(Jack Ma)曾宣布将停止招聘。此外,他还公布了其他多项减举措——比如停止向员工发放传统的春节奖金。“They obviously pushed hard to get great numbers to have a super awesome IPO,” said Mr Rein. “But it’s hard to maintain that momentum. It might have been better to have slightly weaker IPO numbers, and then just kick butt in the coming quarters.”雷小山表示:“很明显,为了在IPO中大获成功,他们尽极大努力营造了完美的报表数据。然而,这种势头是很难维持的。也许,让IPO的数据稍稍疲弱一点,再在随后几个季度里发力可能会更好些。”Cao Lei, director of the China Ecommerce Research Center in Alibaba’s home city of Hangzhou, said the acquisition spree last year — in which the company made more than bn of new investments in the lead-up to its IPO — had been a failure. “The abundance of companies it acquired last year have not apparently contributed to its existing business,” said Mr Cao.中国电子商务研究中心(China Ecommerce Research Center)主任曹磊表示,去年阿里巴巴的疯狂收购是个失败的举措。他说:“阿里巴巴去年收购的大量企业,似乎并未对其现有业务有何帮助。”在去年的疯狂收购中,阿里巴巴在IPO前的新投资项目规模超过了60亿美元。至于中国电子商务研究中心,该机构的位置就在阿里巴巴总部所在的杭州市。“For the moment Alibaba does not have many tricks in the bag to impress the market,” he said.他说:“目前,阿里巴巴没有多少能让市场印象深刻的锦囊妙计了。”Alibaba, citing a pre-earnings quiet period, declined to comment.阿里巴巴方面拒绝发表相关置评,表示目前处于发布财报前的静默期。 /201505/374183

SoftBank Corp. said Wednesday its Pepper humanoid robots will staff a cellphone store in Tokyo for a week this spring.日本软银公司周三表示,将在东京开设以人形机器人Pepper为员工的手机店,在一周时间里限期营业。The firm said the static, talking machines will run the store from March 28 to April 3 in the city#39;s upscale Omotesando shopping district. SoftBank aly operates a separate store in the neighborhood.该公司表示,这款静态的,说话的机器将会于3月28日至4月3日在东京的高级商业区表参道营业。软银公司已经在附近开设了一家分店。;I don#39;t know how this will turn out, but it should be a quite interesting experiment,; said SoftBank CEO Ken Miyauchi during a two-day exhibition called Pepper World.软银公司的董事宫内谦在一次为期两天的名为“Pepper World”的展示会上说道;“我不知道结果会怎样,但它应该是一个很有趣的实验。”The telecoms giant said it will deploy five to six Peppers at the shop. Customers will be able to ask the robots for explanations of the various cellphone options, and for those that decide to buy, the robot will attempt to complete the sales process.这家电信巨头表示,店内将配备5、6台Pepper机器人。顾客可以要求机器人讲解各种手机的选项设置,机器人也会尝试着为那些决定购买手机的顾客完成整个销售手续。However, SoftBank says it is difficult for the robots to check people#39;s IDs when signing a contract, so humans will be on hand to intervene.但是,软银公司也表示,由于签约时,机器人很难核实顾客的身份,因此店员将介入这项工作。Pepper made its commercial debut in June last year. Miyauchi said the device had acquired quite a following aly, as more than 500 firms were now using it.去年六月,Pepper完成了它的商业处女秀。宫内谦表示,该设备已经获得了相当的认可,有超过500家公司正在使用它。He said the machine may represent a labor-saving solution to companies short of manpower.他说道,这台机器将可能是一种解决公司人手短缺问题的省力方案。 /201602/425093

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