Smallville Capital, CSC Group and China's SME Fund have invested RMB900 million (US$133 million) in a Shenzhen-based lithium battery company BAK Battery. The company said it had raised RMB800 million (US$118 million) earlier this year from Shenzhen-listed industrial firm, Wuhu Token Sciences Co., Ltd. Founded in 2001, BAK has three main businesses, including lithium battery, […]
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The US$1.4 billion IPO from ZTO Express is the first listing of a Chinese express delivery firm in the U.S. It opens a rare window through which global investors can gain a peek inside China's gigantic and ultra-competitive express delivery industry. I had the chance to speak with Liu Xing (pictured), a director on the […]
The Abu Dhabi Investment Authority (ADIA) has opened an office in Hong Kong, marking its first on-the-ground presence in the territory. It also announced the appointment of Dong-Sinh Ngo as chief representative Asia Pacific based in Hong Kong. ADIA Hong Kong will act as a platform for ADIA to broaden and deepen its network of […]
As venture deal value in China collapsed 64% to US$3.9 billion in the third quarter from US$10.9 billion last year, healthcare investments in the country held up relatively well as investors remain bullish on the sector. A total of 48 venture capital and private equity deals took place in China's healthcare sector during the third […]
Ten Chinese angel and venture firms, including the Zhen Fund, Innovation Angel Funds and CAS Star, have jointly launched an accelerator focused on artificial intelligence and big data. The objective is to incubate the next great companies comparable to China's current technology giants such as Alibaba, Tencent and Baidu. The accelerator will concentrate on artificial […]
Shenzhen Topband Co., Ltd. has led a RMB110 million (US$16 million) series B funding round in Chinese smart home solutions provider Orvibo, with participation from existing investor SAIF Partners and others. Shenzhen-listed Topband manufactures a wide range of electronic products, including power bank, portable power and solar chargers, as well as smart control units. "We […]
China's WH Group Ltd., the world's largest pork supplier, said on Friday Chinese alternative investment firm CDH Investments plans to sell an aggregate HK$10.6 billion (US$1.37 billion) worth of shares to further reduce its stake in the company. CDH Investments plans to sell one billion WH shares at HK$6.25 each, reducing its stake in the […]
Beijing-based maternity and baby products e-commerce platform Mia.com has raised a new round of financing, the company's founder Liu Nan said in an internal letter. "We have completed a new round of financing, and our valuation continues to increase, indicating capital markets' confidence in industry leaders despite the so-called venture winter," Liu wrote in the […]