Trade Coaching

Chinese companies acquiring overseas are entering their third phase. During the first phase, the vast majority of outbound M&A deals were made to secure natural resources. The second wave of activity was largely about acquiring brands or technology and other capabilities that Chinese companies could use to help build their businesses at home.

Now, when companies look to acquire beyond China’s borders, it’s often to help them achieve the dual goals of winning at home and exporting abroad, enabling them to strengthen their domestic competitive stance while simultaneously positioning for global expansion, especially in other developing markets. This latest stage of M&A is helping Chinese companies gain market share in utilities, construction and Internet-based businesses in countries such as Brazil.

Client:
Web Genius Lab
Date:
December 15, 2018
Website:
yoursite.com
Category:
Corporate
Share:

The Winning Formula

The shift to using acquisitions to win both at home and overseas brings with it new and more complicated rules for success. Some companies have watched their deals falter, turning into cautionary tales. CNOOC invested too much in acquiring upstream natural resources, underplaying the risk from the oil price fluctuations that soured its $15.1 billion purchase of Canadian oil and gas producer Nexen. When CMCC bought Paktel, Pakistan’s fifth-largest telecom operator, for $460 million in 2007, the acquisition faltered for many reasons. It lacked a clear investment thesis, for example.

An expanding group of Chinese companies is learning how to avoid such mistakes, however, by applying more rigor to their acquisitions. For example, soon after a consortium including Shanghai Fosun Pharmaceutical acquired Ambrx, a US biopharmaceutical company, in 2015, Fosun named a new CEO and a new chief science officer for Ambrx, both of whom have strong US and China experience and were deftly able to handle the usual cross-cultural issues that surface during most outbound deals.

Incredible Benefits of Project

Data Analytics

Strategy experience and analytical expertise combine to enable decision making and create value.

Revenue Growth

Strategy experience and analytical expertise combine to enable decision making and create value.

Market Expansion

Strategy experience and analytical expertise combine to enable decision making and create value.

Appendix: Where are the deals?

Ride-hailing company DiDi illustrates how some acquirers are exercising far more caution than was common during the first two phases of China outbound M&A. The company made a solid strategic rationale for its recent acquisitions, as spelled out in an investment thesis, and followed up with more stringent due diligence.

While this arrangement works fine for most of Ruyi’s acquisitions, a stronger approach to integration is called for in different situations—for example, when acquiring a technology company in a developed market with the intention of bringing the technology back to China.

Comments (198)

  1. MarvinFum
    May 9, 2024

    amoxicillin buy canada generic for amoxicillin amoxicillin 825 mg

  2. Richardkax
    May 9, 2024

    amoxicillin without prescription: generic amoxicillin over the counter – can we buy amoxcillin 500mg on ebay without prescription

  3. BillyCep
    May 9, 2024

    http://prednisoned.online/# buy prednisone mexico

  4. HenryCib
    May 9, 2024

    buy doxycycline cheap: doxycycline tablets – doxycycline hyclate

  5. Charlesrem
    May 9, 2024

    zithromax 250: zithromax 500 without prescription – zithromax 500mg

  6. MarvinFum
    May 9, 2024

    neurontin 100mg price neurontin 100mg neurontin price comparison

  7. BillyCep
    May 9, 2024

    http://gabapentinneurontin.pro/# neurontin online usa

  8. HenryCib
    May 9, 2024

    60 mg prednisone daily: canada pharmacy prednisone – 50mg prednisone tablet

  9. MarvinFum
    May 9, 2024

    odering doxycycline doxycycline 50mg where can i get doxycycline

  10. Albertsoume
    May 10, 2024

    best online pharmacies in mexico: mexican mail order pharmacies – mexico drug stores pharmacies

  11. Albertsoume
    May 10, 2024

    mexican border pharmacies shipping to usa: п»їbest mexican online pharmacies – mexico drug stores pharmacies

  12. Manuelheert
    May 10, 2024

    purple pharmacy mexico price list mexico pharmacy buying from online mexican pharmacy

  13. KennethSoync
    May 10, 2024
  14. Williamgrivy
    May 10, 2024

    https://mexicanpharmacy1st.online/# mexican border pharmacies shipping to usa

  15. Robertges
    May 10, 2024

    buying prescription drugs in mexico: best mexican online pharmacies – buying prescription drugs in mexico

  16. Manuelheert
    May 10, 2024

    reputable mexican pharmacies online mexican online pharmacies prescription drugs mexican rx online

  17. Williamgrivy
    May 10, 2024

    https://mexicanpharmacy1st.shop/# mexico pharmacies prescription drugs

  18. Robertges
    May 11, 2024

    buying from online mexican pharmacy: mexico drug stores pharmacies – buying from online mexican pharmacy

  19. Albertsoume
    May 11, 2024

    buying prescription drugs in mexico: mexican border pharmacies shipping to usa – п»їbest mexican online pharmacies

  20. Manuelheert
    May 11, 2024

    mexican pharmacy mexican rx online mexican pharmacy

  21. Williamgrivy
    May 11, 2024

    https://mexicanpharmacy1st.com/# mexican pharmaceuticals online

  22. Robertges
    May 11, 2024

    mexican online pharmacies prescription drugs: best online pharmacies in mexico – buying from online mexican pharmacy

  23. Thomasmed
    May 11, 2024

    mexico drug stores pharmacies: mexican drugstore online – pharmacies in mexico that ship to usa

  24. KennethSoync
    May 11, 2024

    http://mexicanpharmacy1st.com/# mexico pharmacies prescription drugs

  25. Manuelheert
    May 11, 2024

    medicine in mexico pharmacies buying from online mexican pharmacy mexican drugstore online

  26. Williamgrivy
    May 11, 2024

    http://mexicanpharmacy1st.com/# mexican mail order pharmacies

  27. Robertges
    May 11, 2024

    medicine in mexico pharmacies: mexican drugstore online – best mexican online pharmacies

  28. Albertsoume
    May 11, 2024

    п»їbest mexican online pharmacies: mexico drug stores pharmacies – mexico drug stores pharmacies

  29. Manuelheert
    May 11, 2024

    mexico drug stores pharmacies buying from online mexican pharmacy medicine in mexico pharmacies

  30. Williamgrivy
    May 11, 2024
  31. Robertges
    May 11, 2024

    purple pharmacy mexico price list: buying prescription drugs in mexico – mexico drug stores pharmacies

  32. Manuelheert
    May 12, 2024

    mexico pharmacies prescription drugs purple pharmacy mexico price list mexico pharmacy

  33. Williamgrivy
    May 12, 2024

    https://mexicanpharmacy1st.online/# mexican pharmaceuticals online

  34. Robertges
    May 12, 2024

    medicine in mexico pharmacies: reputable mexican pharmacies online – medicine in mexico pharmacies

  35. KennethSoync
    May 12, 2024

    http://mexicanpharmacy1st.com/# buying prescription drugs in mexico online

  36. Manuelheert
    May 12, 2024

    mexican pharmaceuticals online mexico drug stores pharmacies mexico drug stores pharmacies

  37. Williamgrivy
    May 12, 2024

    https://mexicanpharmacy1st.shop/# mexican pharmaceuticals online

  38. Robertges
    May 12, 2024

    mexico pharmacy: mexican pharmacy – best mexican online pharmacies

  39. Thomasmed
    May 12, 2024

    buying prescription drugs in mexico online: buying from online mexican pharmacy – best online pharmacies in mexico

  40. Albertsoume
    May 12, 2024

    buying prescription drugs in mexico online: medicine in mexico pharmacies – medication from mexico pharmacy

  41. Williamgrivy
    May 12, 2024
  42. Manuelheert
    May 12, 2024

    mexican online pharmacies prescription drugs medication from mexico pharmacy pharmacies in mexico that ship to usa

  43. Robertges
    May 12, 2024

    mexico pharmacy: medicine in mexico pharmacies – best mexican online pharmacies

  44. Williamgrivy
    May 13, 2024

    https://mexicanpharmacy1st.online/# reputable mexican pharmacies online

  45. Manuelheert
    May 13, 2024

    mexican border pharmacies shipping to usa mexican rx online buying prescription drugs in mexico

  46. Robertges
    May 13, 2024

    pharmacies in mexico that ship to usa: mexican border pharmacies shipping to usa – best online pharmacies in mexico

  47. KennethSoync
    May 13, 2024

    https://mexicanpharmacy1st.shop/# buying prescription drugs in mexico online

  48. Marvinvor
    May 13, 2024

    can i get clomid pills order generic clomid no prescription can you get cheap clomid no prescription

  49. ThomasTug
    May 13, 2024

    lisinopril 40 mg brand name in india: lisinopril australia – cost of generic lisinopril

  50. JamesPrilm
    May 13, 2024

    http://gabapentin.club/# neurontin 100

  51. Marvinvor
    May 13, 2024

    lisinopril 20 lisinopril in mexico lisinopril 10 mg price in india

  52. ThomasTug
    May 13, 2024

    cost of clomid online: where to get clomid without insurance – where can i buy clomid

  53. Robertamivy
    May 13, 2024

    how much is neurontin pills: neurontin from canada – neurontin prescription medication

  54. Marvinvor
    May 14, 2024

    lisinopril 30 mg buy lisinopril 2.5 mg online lisinopril 2.5 mg tablet

  55. RobertLiene
    May 14, 2024

    https://propeciaf.online/# buying cheap propecia without dr prescription

  56. ThomasTug
    May 14, 2024

    lisinopril 20 mg canadian pharmacy: purchase lisinopril 10 mg – lisinopril 2.5 tablet

  57. Marvinvor
    May 14, 2024

    cost of generic clomid no prescription can i get generic clomid pills order generic clomid prices

  58. JamesPrilm
    May 14, 2024

    https://gabapentin.club/# neurontin 50mg tablets

  59. ThomasTug
    May 14, 2024

    order propecia without prescription: generic propecia for sale – cost propecia no prescription

  60. Marvinvor
    May 14, 2024

    get propecia without a prescription order propecia without insurance cost of propecia

  61. JamesPrilm
    May 14, 2024

    https://clomiphene.shop/# how can i get cheap clomid without prescription

  62. ThomasTug
    May 14, 2024

    cytotec buy online usa: buy cytotec in usa – buy cytotec over the counter

  63. RobertLiene
    May 14, 2024

    https://gabapentin.club/# how to get neurontin

  64. Marvinvor
    May 15, 2024

    neurontin pill neurontin 300 mg pill neurontin rx

  65. JamesPrilm
    May 15, 2024

    https://gabapentin.club/# cost of neurontin 600 mg

  66. ThomasTug
    May 15, 2024

    neurontin 300 mg coupon: neurontin medication – neurontin coupon

  67. Robertamivy
    May 15, 2024

    can you buy neurontin over the counter: neurontin cream – neurontin india

  68. Marvinvor
    May 15, 2024

    how to get clomid without rx can you get generic clomid tablets can you get clomid tablets

  69. ThomasTug
    May 15, 2024

    propecia no prescription: generic propecia online – cost of generic propecia without a prescription

  70. Marvinvor
    May 15, 2024

    get propecia pills buying generic propecia without dr prescription buy generic propecia without a prescription

  71. RobertLiene
    May 15, 2024

    http://lisinopril.club/# where can i order lisinopril online

  72. ThomasTug
    May 15, 2024

    neurontin price south africa: neurontin cap 300mg price – neurontin brand name

  73. Marvinvor
    May 16, 2024

    neurontin 300 600 mg neurontin 300 neurontin 900

  74. CharlesPadly
    May 16, 2024

    canada rx pharmacy cheapest canada trusted canadian pharmacy

  75. Stevendut
    May 16, 2024

    https://cheapestmexico.shop/# buying prescription drugs in mexico online

  76. JimmieImpop
    May 16, 2024

    https://cheapestmexico.shop/# mexican online pharmacies prescription drugs

  77. Stevendut
    May 17, 2024

    https://cheapestandfast.shop/# can i buy prescription drugs in canada

  78. CharlesPadly
    May 17, 2024

    buy canadian drugs cheapest canada canada pharmacy 24h

  79. TerrySpulp
    May 17, 2024

    buying prescription drugs in canada: best online pharmacy no prescription – canada drugs no prescription

  80. Stevendut
    May 17, 2024

    https://cheapestindia.shop/# india online pharmacy

  81. JimmieImpop
    May 17, 2024

    http://36and6health.com/# pharmacy no prescription required

  82. Stevendut
    May 17, 2024

    https://cheapestindia.com/# top online pharmacy india

  83. CharlesPadly
    May 18, 2024

    best india pharmacy indianpharmacy com pharmacy website india

  84. Stevendut
    May 18, 2024

    https://cheapestmexico.shop/# mexican online pharmacies prescription drugs

  85. TerrySpulp
    May 18, 2024

    canadian online pharmacy no prescription: 36and6health – reputable online pharmacy no prescription

  86. JimmieImpop
    May 18, 2024

    http://cheapestmexico.com/# best online pharmacies in mexico

  87. Stevendut
    May 18, 2024

    https://36and6health.shop/# canadian prescription pharmacy

  88. Stevendut
    May 19, 2024

    https://36and6health.shop/# canadian online pharmacy no prescription

  89. CharlesPadly
    May 19, 2024

    buy medicines online in india Online medicine order indianpharmacy com

  90. JimmieImpop
    May 19, 2024

    https://cheapestmexico.com/# buying prescription drugs in mexico online

  91. Stevendut
    May 19, 2024

    https://cheapestmexico.shop/# medication from mexico pharmacy

  92. WilliamnaB
    May 19, 2024

    medikamente rezeptfrei: ohne rezept apotheke – eu apotheke ohne rezept

  93. RobertVoB
    May 19, 2024

    pharmacie en ligne fiable pharmacies en ligne certifiГ©es trouver un mГ©dicament en pharmacie

  94. AntoniaLex
    May 19, 2024

    acheter m̩dicament en ligne sans ordonnance: pharmacie en ligne sans ordonnance Рpharmacie en ligne fiable

  95. WilliamnaB
    May 20, 2024

    pharmacie en ligne sans ordonnance: pharmacie en ligne france pas cher – Pharmacie Internationale en ligne

  96. RobertVoB
    May 20, 2024

    farmacia en casa online descuento farmacia online madrid farmacias online seguras

  97. Vernontwisk
    May 20, 2024

    https://eufarmacieonline.shop/# farmacie online autorizzate elenco

  98. AntoniaLex
    May 20, 2024

    Achat médicament en ligne fiable: pharmacie en ligne france – vente de médicament en ligne

  99. RalphAgoda
    May 20, 2024

    pharmacie en ligne avec ordonnance: pharmacie en ligne avec ordonnance – pharmacie en ligne sans ordonnance

  100. WilliamnaB
    May 20, 2024

    farmacie online affidabili: Farmacie on line spedizione gratuita – migliori farmacie online 2024

  101. RobertVoB
    May 20, 2024

    farmacia online farmacie online affidabili Farmacia online piГ№ conveniente

  102. AntoniaLex
    May 20, 2024

    pharmacie en ligne: pharmacie en ligne france pas cher РAchat m̩dicament en ligne fiable

  103. DonaldAxoky
    May 20, 2024

    Pharmacie Internationale en ligne: pharmacie en ligne avec ordonnance – Pharmacie en ligne livraison Europe

  104. WilliamnaB
    May 20, 2024

    Pharmacie en ligne livraison Europe: Pharmacie sans ordonnance – п»їpharmacie en ligne france

  105. RobertVoB
    May 21, 2024

    gГјnstigste online apotheke internet apotheke online apotheke preisvergleich

  106. AntoniaLex
    May 21, 2024

    günstige online apotheke: apotheke online – shop apotheke gutschein

  107. Vernontwisk
    May 21, 2024

    https://euapothekeohnerezept.shop/# п»їshop apotheke gutschein

  108. WilliamnaB
    May 21, 2024

    farmacias online seguras: farmacia online 24 horas – farmacia barata

  109. RobertVoB
    May 21, 2024

    pharmacie en ligne pas cher п»їpharmacie en ligne france pharmacie en ligne avec ordonnance

  110. AntoniaLex
    May 21, 2024

    beste online-apotheke ohne rezept: internet apotheke – günstige online apotheke

  111. RalphAgoda
    May 21, 2024

    farmacia online madrid: farmacia online madrid – farmacia online 24 horas

  112. WilliamnaB
    May 21, 2024

    п»їFarmacia online migliore: Farmacie online sicure – acquistare farmaci senza ricetta

  113. RobertVoB
    May 21, 2024

    п»їpharmacie en ligne france pharmacie en ligne Pharmacie Internationale en ligne

  114. AntoniaLex
    May 21, 2024

    farmacia online barata: farmacias online seguras en españa – farmacia online envío gratis

  115. WilliamnaB
    May 21, 2024

    medikament ohne rezept notfall: п»їshop apotheke gutschein – europa apotheke

  116. DonaldAxoky
    May 22, 2024

    п»їFarmacia online migliore: farmacia online senza ricetta – Farmacia online piГ№ conveniente

  117. RobertVoB
    May 22, 2024

    farmacia online senza ricetta farmacie online sicure comprare farmaci online all’estero

  118. AntoniaLex
    May 22, 2024

    trouver un m̩dicament en pharmacie: pharmacie en ligne france livraison belgique Рpharmacie en ligne fiable

  119. RalphAgoda
    May 22, 2024

    pharmacie en ligne livraison europe: pharmacie en ligne livraison europe – pharmacie en ligne fiable

  120. Vernontwisk
    May 22, 2024
  121. WilliamnaB
    May 22, 2024

    pharmacie en ligne livraison europe: trouver un mГ©dicament en pharmacie – Pharmacie en ligne livraison Europe

  122. AntoniaLex
    May 22, 2024

    farmacias online seguras en espa̱a: farmacias online seguras en espa̱a Рfarmacias online seguras

  123. RobertVoB
    May 22, 2024

    farmacie online affidabili farmacie online autorizzate elenco Farmacie on line spedizione gratuita

  124. WilliamnaB
    May 22, 2024

    pharmacie en ligne sans ordonnance: pharmacie en ligne – pharmacie en ligne livraison europe

  125. AntoniaLex
    May 22, 2024

    apotheke online: internet apotheke – medikament ohne rezept notfall

  126. RobertVoB
    May 22, 2024

    pharmacie en ligne Pharmacie en ligne livraison Europe pharmacie en ligne avec ordonnance

  127. WilliamnaB
    May 23, 2024

    farmacias online baratas: farmacias online seguras en espaГ±a – farmacias online seguras

  128. RalphAgoda
    May 23, 2024

    gГјnstigste online apotheke: internet apotheke – internet apotheke

  129. Vernontwisk
    May 23, 2024

    https://eufarmaciaonline.shop/# farmacia online madrid

  130. Allenesser
    May 23, 2024

    pharmacie en ligne livraison europe: Levitra pharmacie en ligne – п»їpharmacie en ligne france

  131. Edwardquore
    May 23, 2024

    Pharmacie Internationale en ligne: acheter mГ©dicament en ligne sans ordonnance – pharmacie en ligne livraison europe

  132. Allenesser
    May 23, 2024

    Pharmacie sans ordonnance: vente de mГ©dicament en ligne – Pharmacie Internationale en ligne

  133. Edwardquore
    May 23, 2024

    pharmacie en ligne fiable: Levitra 20mg prix en pharmacie – pharmacie en ligne france fiable

  134. Keithzep
    May 24, 2024

    pharmacies en ligne certifiГ©es pharmacie en ligne п»їpharmacie en ligne france

  135. Allenesser
    May 24, 2024

    Achat mГ©dicament en ligne fiable: cialis sans ordonnance – pharmacie en ligne france fiable

  136. Edwardquore
    May 24, 2024

    Viagra 100mg prix: Viagra prix pharmacie paris – Viagra sans ordonnance pharmacie France

  137. RobertPek
    May 24, 2024

    https://levitraenligne.shop/# pharmacie en ligne pas cher

  138. XRumer23Reple
    May 25, 2024

    Hello.

    This post was created with XRumer 23 StrongAI.

    Good luck 🙂

  139. Allenesser
    May 25, 2024

    pharmacie en ligne: pharmacie en ligne – vente de mГ©dicament en ligne

  140. Allenesser
    May 25, 2024

    pharmacie en ligne france fiable: levitra generique sites surs – Achat mГ©dicament en ligne fiable

  141. XRumer23Reple
    May 25, 2024

    Hello!

    This post was created with XRumer 23 StrongAI.

    Good luck 🙂

  142. Edwardquore
    May 26, 2024

    pharmacie en ligne fiable: cialis prix – vente de mГ©dicament en ligne

  143. Allenesser
    May 26, 2024

    SildГ©nafil 100mg pharmacie en ligne: Acheter du Viagra sans ordonnance – Viagra gГ©nГ©rique sans ordonnance en pharmacie

  144. Allenesser
    May 26, 2024

    acheter mГ©dicament en ligne sans ordonnance: Medicaments en ligne livres en 24h – pharmacie en ligne

  145. Ignaciodub
    May 26, 2024

    trouver un mГ©dicament en pharmacie: Levitra 20mg prix en pharmacie – pharmacie en ligne avec ordonnance

  146. Allenesser
    May 26, 2024

    pharmacie en ligne france livraison internationale: pharmacie en ligne – trouver un mГ©dicament en pharmacie

  147. Allenesser
    May 27, 2024

    Viagra pas cher inde: viagra en ligne – Viagra homme prix en pharmacie sans ordonnance

  148. Allenesser
    May 27, 2024

    acheter mГ©dicament en ligne sans ordonnance: pharmacie en ligne sans ordonnance – pharmacie en ligne france livraison internationale

  149. Allenesser
    May 27, 2024

    pharmacie en ligne avec ordonnance: acheter kamagra site fiable – pharmacie en ligne livraison europe

  150. Ignaciodub
    May 27, 2024

    Viagra pas cher livraison rapide france: Viagra generique en pharmacie – Viagra homme prix en pharmacie sans ordonnance

  151. Allenesser
    May 28, 2024

    п»їpharmacie en ligne france: Acheter Cialis 20 mg pas cher – п»їpharmacie en ligne france

  152. Allenesser
    May 28, 2024

    Pharmacie sans ordonnance: Levitra pharmacie en ligne – trouver un mГ©dicament en pharmacie

  153. Allenesser
    May 28, 2024

    Viagra homme prix en pharmacie: Viagra sans ordonnance 24h – Viagra pas cher paris

  154. Ignaciodub
    May 29, 2024

    Pharmacie sans ordonnance: Levitra pharmacie en ligne – Achat mГ©dicament en ligne fiable

  155. Allenesser
    May 29, 2024

    pharmacie en ligne france pas cher: Levitra 20mg prix en pharmacie – pharmacie en ligne

  156. Allenesser
    May 29, 2024

    pharmacie en ligne: cialis generique – pharmacie en ligne fiable

  157. Allenesser
    May 29, 2024

    trouver un mГ©dicament en pharmacie: Medicaments en ligne livres en 24h – pharmacie en ligne

  158. Allenesser
    May 30, 2024

    pharmacie en ligne pas cher: kamagra oral jelly – pharmacie en ligne livraison europe

  159. Ignaciodub
    May 30, 2024

    pharmacie en ligne avec ordonnance: levitra generique – vente de mГ©dicament en ligne

  160. Allenesser
    May 30, 2024

    Pharmacie en ligne livraison Europe: Cialis sans ordonnance 24h – Achat mГ©dicament en ligne fiable

  161. Allenesser
    May 30, 2024

    п»їpharmacie en ligne france: pharmacie en ligne france pas cher – п»їpharmacie en ligne france

  162. Allenesser
    May 31, 2024

    Viagra 100 mg sans ordonnance: viagra en ligne – Meilleur Viagra sans ordonnance 24h

  163. Edwardquore
    May 31, 2024

    pharmacies en ligne certifiГ©es: levitra generique – pharmacie en ligne livraison europe

  164. Allenesser
    May 31, 2024

    Sildenafil teva 100 mg sans ordonnance: Viagra 100 mg sans ordonnance – Viagra sans ordonnance livraison 24h

  165. Ignaciodub
    May 31, 2024

    Acheter viagra en ligne livraison 24h: Viagra generique en pharmacie – Viagra sans ordonnance 24h suisse

  166. Allenesser
    May 31, 2024

    Viagra femme ou trouver: Acheter du Viagra sans ordonnance – Viagra homme sans prescription

  167. Allenesser
    June 1, 2024

    pharmacies en ligne certifiГ©es: kamagra 100mg prix – pharmacie en ligne france pas cher

  168. Edwardquore
    June 1, 2024

    п»їpharmacie en ligne france: kamagra oral jelly – pharmacie en ligne livraison europe

  169. Allenesser
    June 1, 2024

    pharmacie en ligne sans ordonnance: kamagra en ligne – pharmacie en ligne france livraison belgique

  170. Allenesser
    June 1, 2024

    Viagra sans ordonnance 24h suisse: Viagra generique en pharmacie – Viagra 100 mg sans ordonnance

  171. Ignaciodub
    June 1, 2024

    pharmacie en ligne sans ordonnance: kamagra gel – pharmacie en ligne sans ordonnance

  172. Edwardquore
    June 2, 2024

    Pharmacie en ligne livraison Europe: cialis sans ordonnance – Achat mГ©dicament en ligne fiable

  173. Allenesser
    June 2, 2024

    Pharmacie en ligne livraison Europe: pharmacie en ligne pas cher – acheter mГ©dicament en ligne sans ordonnance

  174. Allenesser
    June 2, 2024

    acheter mГ©dicament en ligne sans ordonnance: Cialis sans ordonnance 24h – pharmacie en ligne avec ordonnance

  175. Allenesser
    June 2, 2024

    pharmacie en ligne livraison europe: cialis sans ordonnance – trouver un mГ©dicament en pharmacie

  176. Georgefoork
    June 3, 2024

    Viagra homme sans prescription: Meilleur Viagra sans ordonnance 24h – Viagra sans ordonnance livraison 24h

  177. Ignaciodub
    June 3, 2024

    pharmacie en ligne france fiable: kamagra pas cher – п»їpharmacie en ligne france

  178. Allenesser
    June 3, 2024

    pharmacie en ligne sans ordonnance: cialis generique – pharmacie en ligne france livraison internationale

  179. Allenesser
    June 3, 2024

    pharmacie en ligne livraison europe: kamagra gel – vente de mГ©dicament en ligne

  180. Allenesser
    June 3, 2024

    pharmacie en ligne france pas cher: Cialis sans ordonnance 24h – pharmacie en ligne sans ordonnance

  181. Robertjic
    June 4, 2024

    Pharmacie Internationale en ligne: pharmacie en ligne sans ordonnance – pharmacie en ligne france pas cher

  182. Allenesser
    June 4, 2024

    pharmacie en ligne sans ordonnance: levitra generique prix en pharmacie – acheter mГ©dicament en ligne sans ordonnance

  183. Ignaciodub
    June 4, 2024

    Acheter Sildenafil 100mg sans ordonnance: Viagra sans ordonnance 24h – Viagra gГ©nГ©rique sans ordonnance en pharmacie

  184. JuliusTum
    June 4, 2024

    pharmacie en ligne avec ordonnance: pharmacie en ligne fiable – Pharmacie Internationale en ligne

  185. Allenesser
    June 4, 2024

    pharmacie en ligne france livraison internationale: cialis generique – pharmacie en ligne fiable

  186. Robertjic
    June 4, 2024

    Viagra pas cher livraison rapide france: Viagra homme sans prescription – Viagra Pfizer sans ordonnance

  187. EdwardDer
    June 23, 2024

    Pin-Up Casino: Pin-Up Casino – Pin Up

  188. Roberthor
    June 23, 2024

    https://autolux-azerbaijan.com/# Pin Up Kazino ?Onlayn

  189. EdwardDer
    June 23, 2024

    Pin Up Kazino ?Onlayn: Pin Up Azerbaycan ?Onlayn Kazino – Pin Up

  190. Roberthor
    June 23, 2024
  191. EdwardDer
    June 23, 2024

    Pin-Up Casino: Pin Up Azerbaycan – pin-up360

  192. EdwardDer
    June 24, 2024

    pin-up kazino: Pin Up Kazino ?Onlayn – ?Onlayn Kazino

  193. Roberthor
    June 24, 2024
  194. EdwardDer
    June 24, 2024

    Pin-up Giris: Pin up 306 casino – Pin up 306 casino

  195. Roberthor
    June 24, 2024
  196. EdwardDer
    June 24, 2024

    pin-up360: pin-up 141 casino – Pin-up Giris

  197. Roberthor
    June 24, 2024
  198. July 13, 2024

    Really superb information can be found on blog.Expand blog

Leave a Reply

Your email address will not be published.