SINA CorporationSINA

Morningstar Rating

Stock Research and Analysis

by Iris Tan

Sina has proved to be the most attractive online brand advertising destination in China because of its large audience, strong brand, and solid Web content. After the recent management buyout, we expect the company to be better poised for growth in the Read more

Bulls Say

According to Chinarank, Sina topped the Chinese Internet portals by user traffic and number of visitors during the Olympic period.

Sina has recently launched a new version of online gaming-service software providing innovative functions to Chinese gamers. It's a promising platform for possible monetization in online games.

The Chinese mobile-service providers should gain more power over the value chain as the expected 3G launch will introduce more mobile carriers in China. Read more

Bears Say

Risks faced by Sina's wireless value-added services business include further adverse policies imposed by Chinese mobile operators to regulate the wireless-services market and the potential for direct competition from China Mobile.

Sina is the most trafficked Internet portal in China; however, Chinese Internet users' stickiness has proved to have limits. Also, Baidu and Tencent, which are traditionally regarded as nonportal Web sites, both have more traffic than Sina.

Precision advertising, which takes advantage of online interactivity, is expected to grab a much larger slice of top brand advertisers' spending budgets in the long run.

The ongoing regulations on wireless value-added services by Chinese mobile operators show little signs of diminishing. The number-two mobile operator, China Unicom CHU, has recently increased the data-service fees charged for wireless-services distribution. Read more

Strategy

Sina strives to solidify its position as the leading Chinese Internet portal by investing in branding, exclusive content acquisition, and interactive communities. Besides the online advertising business, Read more

Management

Cofounder and former CEO Yan Wang serves as chairman of the board. Former CFO Charles Chao took over the top job in early 2006. We think Chao's partnership with Wang has proved success in the past. The company paid aggregate cash compensation of approximately Read more

Profile

Sina is one of the most influential Internet media companies in China because of its large user base and substantial Web traffic. Sina earns about 70% of its revenue from Read more

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