One of China’s largest mobile app makers isexpanding in the US just as many of the country’sother internet companies say they are heading back to the mainland.
在多家中國互聯網公司籌劃回歸中國之時，中國最大的挪動運用開辟商之一獵豹挪動(Cheetah Mobile)正在美國擴大。
Cheetah Mobile, a spin-off of Kingsoft, China’s largest software maker, on Wednesdayannounced plans to hire a US-based chief technology officer and base its research anddevelopment in the country.
這家從中國最大的軟件開辟商金山軟件(Kingsoft)拆分出來的公司周三宣告，將錄用一名常駐美國的首席技巧官，並在美國扶植研發基地。
The group said it would “significantly expand” the number of US employees from 50 over thenext two years, with Xu Ming, Cheetah’s president, adding that the company “must succeed inthe US because the US is the beachhead for the world”.
獵豹表現，將來兩年將“鼎力擴充”美國員工數目（今朝為50人）。該公司總裁徐鳴還表現，獵豹“必需在美國獲得勝利，由於美國事環球市場的橋頭堡”。
Cheetah is unusual among Chinese internet companies because it generates most of its salesfrom outside the country: overseas revenues accounted for $84m of its total $158m turnoverfor the third quarter of 2015.
在中國互聯網公司中，獵豹不同凡響之處是，該公司的大部門發賣額來自中國之外：2015年第三季度，在該公司1.58億美元的總收入中，外洋收入占8400萬美元。
The company’s apps are ubiquitous in China. They include Clean Master and CM security,popular cleaning and security apps, while Piano Tiles 2 was the most downloaded free game onGoogle Play in September in the US and fifth globally, according to the company.
該公司的運用在中國頗有市場。個中包含兩款清算和平安運用——清算巨匠(Clean Master)和平安巨匠(CMsecurity)。而據獵豹稱，客歲9月，《別踩白塊兒2》(Piano Tiles 2)是谷歌運用市肆Google Play全美國下載量至多的免費遊戲，在環球位列第五。
In spite of seeing third-quarter revenue jump 110 per cent year on year, Cheetah’s share pricehas fallen 25 per cent over the past 12 months to $15, down from a peak of $35 last year.
只管2015年第三季度收入同比增加110%，但獵豹股價在曩昔12個月累計下跌25%，至15美元，客歲曾到達35美元的峰值。
One concern for investors is Cheetah’s business model, whereby free apps are used to temptconsumers to play games. This process works in China, but rival Qihoo holds most of themarket for such apps. In the west “trying to use apps as a back door to gaming is unproven”,said a bank analyst.
獵豹的營業模式是投資者擔心的身分之一：應用免費運用吸引花費者玩遊戲。這類模式在中國行得通，但競爭敵手奇虎360(Qihoo)占領這種運用的大部門市場份額。一名銀行剖析師稱，在西方“試圖把運用作為玩遊戲的後門的模式還沒有獲得證實”。
Many Chinese companies have become disenchanted with the US market, with some announcingplans to delist from the country because they felt Chinese companies were unfairly penalised.But Mr Xu said he was undaunted.
許多中國企業已對美國市場不抱理想，一些企業宣告籌劃從美國退市，由於它們以為，中國企業在美國遭到不公正看待，位於劣勢。但徐鳴其實不灰心。
“Although Chinese companies may not be receiving the best valuations from US markets today,we believe over time a good company with a good product will get a fair valuation,” he said.
他表現：“只管中國企業如今大概沒有從美國市場得到絕佳估價，但咱們以為，假以光陰，一家有著優良產物的優良企業將獲得公正估價。”
In China, price-earnings ratios for the sector, though dented by sell-offs in 2015 and 2016,remain above multiples in the US. Social dating app Momo and search engine Qihoo, both ofwhich are listed in New York, said last year they would seek to go private, possibly inpreparation for relisting elsewhere.
在中國，互聯網行業股票的市盈率只管因2015年和2016年的兜售潮而有所降低，但仍高於美國。交際運用陌陌和搜刮引擎奇虎都在紐約上市，但它們客歲均表現追求私有化，多是預備在其他處所從新上市。
Baidu, the Chinese search engine, has set up an artificial intelligence lab in the US. Robin Li,chairman of Nasdaq-listed company, recently announced an offer to buy Baidu’s videobusiness for $2.8bn, with some reports suggesting it could lead to an IPO in China.
在納斯達克上市的中國搜刮引擎公司百度(Baidu)已在美國建立了一小我工智能試驗室。百度董事長李彥宏(Robin Li)比來宣告出價28億美元收購百度的視頻營業，一些報導稱，這大概促進該營業在中國上市。
市場價：HK$ 110
