Amor Flora, a Chinese online flower ordering and delivery firm listed on China's New Third Board today, revealed in its prospectus that it had faked orders and revenues over the past two years, in a rare public acknowledgement of a practice known to be prevalent among Chinese companies. From 2013 to July 2015, Amor Flora […]
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Cathay Capital Private Equity and Nokia Growth Partners have led a US$35 million investment round in Drivy, Europe’s largest car rental marketplace with 850,000 users across France, Germany and Spain, says a company announcement. Existing investors Bpifrance's Ecotechnologie Fund, Via-ID (Mobivia group) and Index Venture also participated. The latest fundraising brings the total amount raised […]
Shenzhen-listed Hangzhou Liaison Interactive Information Technology Co. Ltd. has agreed to invest US$20 million in Dehaier Medical Systems Ltd., a NASDAQ-listed medical devices and wearable sleep respiratory products maker in China, according to a company announcement. Liaison Interactive plans to purchase 11 million restricted common shares of Dehaier Medical for US$1.80 per share, which represents […]
During President Xi Jinping’s inspection tour to Anhui province this week, his speech signaled that the Chinese government is concerned about the fragile recovery and strong stimulus will have to continue in the months ahead, according to a research report by Mizuho Securities Asia Ltd. President Xi paid a special visit to Xiaogang village in […]
China’s state-owned Tsinghua Unigroup Ltd.'s plan to buy a 24.9% stake in Silicon Precision Industries (SPIL) for RMB11.1 billion (US$1.7 billion), sayshas been terminated by the Taiwanese chip maker, according to an announcement. It did not say the reasons for the cancellation of the transaction, except quoting consideration of subjective and objective factors of the […]
Beijing-based fresh produce e-commerce mobile app MissFresh has reportedly raised RMB230 million (US$36 million) series B+ round of financing led by a Chinese investment firm, according to Chinese media reports. China Growth Capital participated in the round. China Money Network cannot verify the news or confirm the identity of the lead investor, Yuanyi Capital. In […]
Beijing-based mobile Internet company Cheetah Mobile says it will invest US$50 million into deep learning and artificial intelligence research and development with its chief executive Fu Sheng personally investing in the venture, according to a company announcement. Fu Sheng says he believes the field of robotics is the ultimate evolution of the mobile tools category. […]
Officials of the Chinese Government have recently indicated that the Shenzhen-Hong Kong Stock Connect program will open in 2016, offering new access to 505 stocks in Shenzhen and an additional 218 stocks in Hong Kong. The new program is the latest step in the opening up of China's capital account. The result of this expansion […]
Hong Kong's commercial real estate sector is to continue grim conditions over the next year, with pessimism concentrated in the retail sector, according to a research report released by Royal Institution of Chartered Surveyors (RICS). The industry’s low expectations have persisted for three quarters in Hong Kong. The latest RICS survey revealed that tenant demand […]
As China's domestic market uncertainties persist, Chinese outbound real estate investment continued to grow strongly in 2015. By the end of 2015, the total Chinese outbound capital has reached nearly US$30 billion, doubling that of 2014, according to global property consultancy Knight Frank. In 2015, there were significantly more Chinese developers investing overseas with gateway […]
Singapore's Temasek Holdings has announced an organization structure reorganization, aimed at aligning the firm with its core priorities at a challenging global investment environment, according to an announcement. It will bring together its sector and market investment teams under a single Investment Group. It is setting up a new Portfolio Strategy and Risk Group to […]
Chinese flying smart robotics start-up Zero Zero Robotics has raised US$25 million in total funding from IDG Capital Partners, GSR Ventures, Zhen Fund and others, according to a company announcement. Zero Zero Robotics also unveiled the company's first product, Hover Camera, an autonomous flying camera designed allow users capture indoors and outdoor activities. "There have […]
Taiwanese smartphone and tablet maker HTC Corporation says it is launching Vive X, a global accelerator program targeted at start-ups operating in the virtual reality (VR) space, according to a company announcement. With a US$100m investment fund led by HTC, the program is designed to help cultivate the global VR ecosystem by supporting start-ups and […]
U.S. health and hygiene company RayVio Corp has completed a new funding round of US$26 million led by IPV Capital and China's Tsing Capital, the company announced in a statement. Existing investors including DCM Ventures, Capricorn Investment Group, Applied Ventures, Augment Ventures, Tolero Ventures and New Ground Ventures also contributed to the round. RayVio will […]
Shenzhen-listed Chinese online gaming firm Dalian Zeus Entertainment Co., Ltd. has led a RMB4.5 billion (US$694 million) series C+ round in Weiying Technology Co. Ltd., the operator of movie ticket booking mobile app Wepiao, according to Chinese media reports. Existing investors Tencent Holdings Ltd, CMC Holdings, Chinese mobile gaming firm iDreamSky, Everbright Financial Holding Asset […]
According to information published by an online regulatory approval platform for investment project under China's National Development and Reform Commission, …
Puji Capital and third-party wealth management service provider Jupai Holdings Ltd. has invested an undisclosed amount in Wanda Pictures, which includes Dalian Wanda Group's media business including global and domestic film and TV production, financing, and distribution, according to an announcement. Puji Capital and Jupai Holdings are making the investment via a newly launched joint […]
Ant Financial Services Group, the financial services arm of Chinese e-commerce giant Alibaba Group Holding, has completed raising US$4.5 billion in a series B round of financing in one of the largest fundraising deals by an Internet company globally, according to a company announcement reported by China's state media. The final tally is larger than […]
China Media Capital (CMC), a media-focused platform launched by Shanghai Media Group executive Li Ruigang, plans to establish a CMC Media Innovation Lab to research on technological advancement in the area of video distribution, virtual reality, big data and artificial intelligence. Li said during a press conference that the CMC Media Innovation Lab will focus […]
International Finance Corporation (IFC), the investment arm of the World Bank, has committed US$15 million to a fund managed by Innovation Works, a venture and accelerator founded by former Google China head Kai-Fu Lee. Innovation Works' Sinovation Fund III LP focuses on investing in early and mid-stage Internet companies in China. "We are quite impressed […]