CDC Corp. Filed for Bankruptcy Protection, Rise and Fall of the First China Concepts Stock

CDC Corporation. (NASDAQ: CHINA), the company behind China.com and many other businesses and the first Nasdaq-listed Chinese internet company has filed for bankruptcy protection, highlighting the company’s years of struggle has finally accumulated to the extent that it couldn’t deal with anymore, driving the company’s stock down more than 50% on Nasdaq.

Founded in 1997, China.com Inc. went public in1999 as the first Chinese internet company ever listed in Nasdaq even before Sina (NASDAQ: SINA), Sohu (NASDAQ: SOHU) and NetEase (NASDAQ: NTES) did. However, a succession of missteps eventually led the company to the recent bankruptcy protection filing.

To sum up, the Hongkong-based company came to today’s crisis for its lost of focus, unsuccessful and aimless expansion and diversification, blind merger and acquisition and inability to consolidate a disparate of businesses – most of which are acquired.

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