2017-投资界电子周刊No0534--英文版_14页_858kb

PEDaily E-Magazine Issue No.534 Summary

Core Content

PEDaily E-Magazine (formerly known as Zero2ipo e-Weekly) is a weekly publication tailored for professionals in the private equity and venture capital (PE/VC) sectors. It provides comprehensive market reports, investment and financing news, industry insights, and data analysis. The magazine is backed by the extensive investor network of Zero2IPO Group, which has over 10 years of research experience. It aims to serve a wide range of readers, including investors, entrepreneurs, analysts, and lawyers, by offering timely, accurate, and in-depth information about the Chinese PE/VC industry.

Main Views and Key Information

Q1'12 M&A Trends

• Overall M&A Activity: In Q1 2012, there were 204 M&A transactions in China, a decline of 31.3% quarter-on-quarter and 22.4% year-on-year.
• Transaction Value: The total transaction value was $16.18B, a decrease of 7.2% quarter-on-quarter and 24.6% year-on-year.
• Domestic vs. Outbound M&A:
  • Domestic M&A: 165 deals with a total value of $3.94B.
  • Outbound M&A: 28 deals with a total value of $11.61B.
  • Inbound M&A: 11 deals with a total value of $627.47M.
• Outbound M&A Growth: Despite the overall decline, outbound M&A showed a slight increase, indicating growing confidence in international expansion.

Hot News Highlights

1. Alibaba's Buyback with Yahoo

   • Alibaba announced plans to repurchase 20% of its shares currently held by Yahoo, involving $6.3B in cash and up to $800M in new preferred shares.
   • If Alibaba goes public before December 2015, Yahoo can repurchase 10% of its shares or sell them at the IPO.
   • This move is intended to improve the company's shareholding structure and prepare for future public listing.

2. Changjiang Publishing & Media Establishes Investment Subsidiary

   • The company plans to invest RMB100M to set up a new subsidiary, Changrun Xingkong Investment Co., Ltd.
   • The subsidiary will focus on non-securities equity investment and M&A to enhance the company's core competitiveness and profitability.
   • It aims to leverage the cultural industry's growth opportunities and expand its business scope.

3. Mecoxlane Announces Stock Repurchase Program

   • Mecoxlane approved a stock repurchase program of up to $10M in American depositary shares (ADS) between May 20, 2012, and May 19, 2013.
   • The repurchase will be conducted on the open market or through private negotiations, depending on market conditions and legal restrictions.

4. Xin Wan Fook Secures RMB65M in Series A Funding

   • Xin Wan Fook, a diamond e-commerce company, raised RMB65M from Red 13.
   • The funding is aimed at building the "Happiness Diamond" brand, which has strong Chinese cultural elements.
   • Other diamond e-commerce brands such as Diamond Bird, Zakaly, and Crane had previously received venture capital.

5. Wanda Acquires AMC Cinema for $2.60B

   • Dalian Wanda Group signed a deal to acquire AMC, the world's second-largest cinema operator, for $2.60B.
   • The acquisition includes 100% of AMC's equity and liabilities.
   • Wanda also plans to invest up to $500M in AMC's operations, raising the total deal value to $3.10B.

6. CKLC Fund Invests in Shanghai Nongyi Digital Engineering Technology

   • CKLC Fund, under China King Ling Corporation, invested in Shanghai Nongyi, a leading agricultural information software provider.
   • The investment amount was not disclosed, but the company is known for its expertise in agricultural information solutions in East China.

7. PICC Launches $25B IPO Financing Plan

   • PICC, the parent company of PICC Property and Casualty, initiated its overall IPO plan.
   • The company is expected to raise between $4B and $6B through A-shares and H-shares, potentially making it the largest IPO in Asia in 2012.
   • PICC ranked 289th in the Fortune Global 500 in 2011 and has been planning its A-share listing for several years.

8. Morgan Stanley Raises Fourth Asian Private Equity Fund

   • Morgan Stanley Private Equity Asia (MSPEA) launched a new USD fund for M&A projects in China, South Korea, and other Asian countries.
   • The fund is expected to reach a size of $1.5B, following its previous $1.5B fund raised in 2007.
   • MSPEA has previously invested in companies such as Ping An, Nanfu Battery, Mengniu Dairy, and Belle.

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Events

• 2nd China Bio & Healthcare Industry Investment Forum
  • Date: June 14, 2012
  • Location: Beijing
  • Organizer: Zero2IPO Group
  • Platinum Sponsor: Not specified
  • Gold Sponsors: NEA, HIDEA, 海达投资
  • Silver Sponsors: DCAPITAL, KAIWCAPITAL, New Mexico

Contact Information

• Attendees Registration Enquiry: 400-600-9460
• Jesmine Zhao (China)
  • Tel: 8610 8458 0476 ext 8058
  • Fax: 8610 8458 0480
  • Email: jesminezhao@zero2ipo.com.cn
• Media & Cooperation:
  • Annie Gao (China)
    • Tel: 8610 8458 0476 ext 8726
    • Fax: 8610 8458 0480
    • Email: anniegao@zero2ipo.com.cn