2017-投资界电子周刊No0586-英文版_12页_341kb

PEdaily E-Magazine Issue No.586 Summary

Preface

• Overview: PEdaily E-Magazine, previously known as Zero2ipo e-Weekly, has been in operation since 2006. It serves as a weekly information source for professionals in the private equity (PE) and venture capital (VC) sectors.
• Purpose: The magazine provides timely, accurate, and in-depth market reports, leveraging the extensive investor network of Pedaily.cn.
• Content: It covers a range of topics including investment and financing news, industry insights, data observations, personality profiles, and expert opinions.
• Audience: Open to all stakeholders in the PE/VC industry, including investors, entrepreneurs, analysts, and lawyers.
• Call to Action: Encourages readers to share their viewpoints and witness the growth of China’s PE/VC industry.

Core Content and Key Information

Domestic M&A Trends (H1'13)

• Total M&A Transactions: 406 completed in the first half of 2013.
• Year-over-Year (YoY) Decline: A 10.6% decrease compared to the same period in 2012.
• Quarter-over-Quarter (QoQ) Decline: A 24.4% drop from H2'12.
• Total Disclosed Value: US$40.34B, up 24.1% YoY and 121% QoY.
• Domestic M&A Value: US$12.74B from 359 deals.
• Outbound M&A Value: US$17.89B from 34 deals.
• Inbound M&A Value: US$9.71B from 13 deals.
• Record High: H1'13 saw the highest total M&A value in the Chinese market.

Hot News Highlights

1. Cloudary Corporation:

   • Raised US$110M in private placement from Goldman Sachs and Temasek.
   • Total holdings by both investors accounted for less than 20%.
   • Valuation estimated at less than US$600M, down from US$800M as per its previous listing document.

2. Wiz Note:

   • Received over RMB10M in angel investment from Gobi Partners' Oasis Program.
   • Funding will be used for R&D, product design, and market operations.
   • Has approximately 2 million users in China, including a significant number of enterprises.

3. iCard English:

   • Attracted angel investment from Chennai Venture Capital, though the amount was not disclosed.
   • Evolved from a microblog account "Oral English Enthusiasts".
   • Features short, concise lessons and audio guides for pronunciation correction.

4. KKR Asian II Fund:

   • Closed at US$6B, making it the largest pan-Asian PE fund.
   • Follows previous successful fund raisings: US$4B Asia Fund (2007) and US$1B China Growth Fund (2010).

5. Luxin Venture Capital:

   • Initiated the establishment of Huaxin Ruicheng Venture Investment.
   • Expected to raise RMB200M in total.
   • Luxin holds 17% stake (RMB34M), Shenzhen Huaxin contributes RMB60M for 30%, and Huaxin Zhongcheng invests RMB2M for 1%.
   • Remaining 52% will be sourced from other contributors for RMB104M.

6. Ctrip Denies Tencent Takeover Rumors:

   • Ctrip denied rumors of a potential acquisition by Tencent valued at US$6B.
   • A Tencent executive also denied the takeover rumors in an interview.

7. Goodman Group and CPPIB Increase Investment in China Partnership:

   • Increased equity commitment to Goodman China Logistics Holding (GCLH) by US$500 million.
   • CPPIB contributed US$400 million, and Goodman contributed US$100 million.

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Contact

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Conclusion

This issue of PEdaily E-Magazine highlights significant developments in the Chinese M&A and venture capital landscape, including notable investment activities and strategic moves by major players. It underscores the dynamic nature of the industry, the importance of accurate and timely information, and the ongoing growth and evolution of China’s PE/VC sector.