投资界电子周刊No0526--英文版_13页_920kb

报告摘要

PEDaily E-Magazine Issue No.526 Summary

Core Content

PEDaily E-Magazine Issue No.526, published on March 16, 2012, is a weekly publication targeting professionals in the private equity and venture capital (PE/VC) industry. It provides comprehensive coverage of investment and financing news, industry insights, data analysis, and profiles of key players. The magazine is part of the Zero2IPO Group, which has over 10 years of research experience and is committed to offering in-depth, accurate, and timely market reports to its readers, including investors, entrepreneurs, analysts, and lawyers.

Main Points and Key Information

1. Highlights of the NPC and CPPCC

Deputy Ouyang Zehua from the NPC and CSRC emphasized that listed companies in China face significant financing challenges in M&A transactions due to the single payment method and bureaucratic procedures.
These challenges are a major bottleneck for the growth and development of listed companies in the M&A market.

2. Vipshop's NYSE IPO

Vipshop.com, a Chinese online discount retailer, is set to list on the NYSE on March 23, 2012.
The company plans to offer 11,176,470 ADS at a price range of $8.50 to $10.50, aiming to raise up to $120 million.
At the midpoint of the price range, the company's market value would be $463 million.
Goldman Sachs and Deutsche Bank are the lead underwriters for the IPO.
The stock symbol will be "VIPS".

3. Jiuding Capital's Investments

Jiuding Capital invested RMB170 million in Zhejiang Huaye Mine Construction Co., Ltd., a company with national class-1 qualification in mine engineering construction and mining contracting.
The company owns two coal mines with large reserves.
Jiuding also invested RMB60 million in Suncoo Co., a branch brand of Foshan Baitian Building Materials Co., Ltd., to help it standardize management, expand market, and go public.
Jiuding previously invested in Saunaking, a manufacturer of household sauna equipment.
Jiuding plans to launch a fund dedicated to the mine industry.

4. Temasek's Investment Return in Heilan Home

Temasek secured a 200-plus times return from its investment in Heilan Home.
In February 2007, Temasek and Columbia University acquired 4% and 5% equity of Heilan Home, respectively.
After the equity transfer, China Star (controlled by Temasek, Columbia University, etc.) held 9% of the shares.
The estimated ROI is based on RMB1.59 per share in 2011, average IPO P/E of 30 times, and an issue price of RMB47 per share.

5. The 7th China Venture Capital & Private Equity Forum in Silicon Valley

The forum, held on May 3, 2012, in Silicon Valley, aimed to explore overseas experiences and strategies for success in the Chinese VC/PE market.
Topics included intensified competition, uncertain future for fundraising, and industrial reshuffling.
The forum was organized by Zero2IPO, with the goal of experiencing the "Holy Land" of VC/PE and startups globally.

6. Youku and Tudou Merger

Youku Inc. and Tudou Holdings Limited announced a 100% stock-for-stock merger on March 11, 2012.
After the merger, all Tudou shares will be converted into Youku shares at a ratio of 7.177:1.
Tudou's ADS will be delisted and converted into Youku ADS at a ratio of 1.595:1.
The merger requires shareholder approval and is expected to close in Q3 2012.

7. Cowin Capital's First VC Fund

Cowin Capital launched its first venture capital fund, "Cowin Capital No.1", on March 10, 2012.
The fund has a size not exceeding RMB300 million and focuses on early- and medium-stage projects.
It targets TMT, biomedicine, new material, and clean-tech industries.
The fund is supported by Beijing Haidian District Government and Beijing Zhonghai Investment Management.

8. China-Belgium Fund Invests in Golden Sun

China-Belgium Direct Equity Investment Fund invested RMB50 million in Weihai Golden Sun Company, acquiring 22.79% shares.
The company is a clean-tech enterprise specializing in CSP station solar collector tubes and related products.
It holds three major cutting-edge technologies for key components in solar thermal power generation.
The fund, with a registered capital of EURO100 million, has extensive experience in investments and financing in China.