2017-投资界电子周刊No0548-英文版_13页_499kb

报告摘要

PEdaily E-Magazine Issue No. 548 Summary

Preface

PEdaily E-Magazine is a weekly publication for PE/VC insiders, originally named Zero2ipo e-Weekly and first published in 2006.
It provides timely, accurate, and in-depth market reports, integrating over 10 years of research resources from the Zero2IPO Group.
The magazine is open to all stakeholders in the PE/VC industry, including investors, entrepreneurs, analysts, and lawyers, and encourages sharing of insights and perspectives.
The goal is to build a professional platform with rich data and analysis to support the growth of China’s PE/VC industry.

Core Content & Key Highlights

1. ROI of Securities Companies’ Direct Investments Witnesses a Rational Decline

CITIC Securities announced the establishment of CITIC Buyout Fund Management Co., Ltd. through its direct investment subsidiary Goldstone Investment Co., Ltd., approved by the China Securities Regulatory Commission (CSRC).
This marks the first buyout fund established under CSRC approval, representing an innovation in traditional brokerage business.
Since the direct investment business pilot scheme started in September 2007, securities companies have become a major force in China’s PE market.
By H1 2012, 38 securities companies had been certified, with a total disclosed investment amount of RMB27.60B and an average book return of 4.86 times.

2. Warburg Pincus Collaborates with Southern Petroleum Group to Restructure Titan Petrochemicals

Warburg Pincus and Southern Petroleum Group established a joint venture to help Titan Petrochemicals complete restructuring.
Titan Petrochemicals has accumulated losses of over US$452M in the past five years and has failed to restructure its debts three times in the last three years.
The joint venture will purchase new shares, provide new capital, restructure debts, and offer creditors instant cash payment.
Southern Petroleum Group is an international enterprise in the chemical industry and energy sectors, founded in 2002.

3. Jiuxian.com Obtains RMB200M in Round C Investment

Jiuxian.com, a B2C drink chain retail website, raised RMB200M in Round C financing.
The investment was led by Beijing Woyan Capital Management Center, with China Renaissance Partners acting as the sole financial adviser.
The company reported RMB500M in sales in 2011, but faced losses of RMB80M due to logistics investments.
H1 2012 sales exceeded 10 times that of the same period in 2011, and the sales target for 2012 is RMB2B.

4. Zhang Yimou Rumored to Set up RMB2B Individual Fund

Zhang Yimou is rumored to be establishing a RMB2B cultural industry fund.
Potential partners include Galloping Horse, Wanda, Kunhong Media, and other notable firms.
Wanda is seen as a likely partner, which could help build a cultural industry chain.
The fund requires professional support and is expected to offer high returns through box-office profit sharing and equity.

5. YZ Soft Obtains RMB40M Investment from UF Soft and Hoard Investment

YZ Soft received RMB40M in investment from UF Soft, Hoard Investment, and Eazytech.
The investment aims to support scientific research and industrialization.
YZ Soft is a key firm in China’s basic software field, with complete independent intellectual property rights.
The company is supported by the National "863 Program" and the "Core Electronic Components, High-end General Chips and Basic Software" Program.

6. Mogujie Verifies to Start Round C Financing

Mogujie.com is launching Round C financing, valued at nearly US$200M.
The company has completed two previous rounds of financing, totaling nearly US$20M.
Round A investors included Bertelsmann and Zhaoxin Capital, and Round B was led by Qiming Venture Partners.
Mogujie did not confirm the valuation, citing strategic considerations.

7. Shandong Heavy Industry Invests EUR700M to Purchase KION

Shandong Heavy Industry plans to acquire 25% equity in KION, a German forklift truck manufacturer, for EUR700M.
This follows Sany Heavy Industry’s purchase of Putzmeister.
Despite the European debt crisis, Chinese enterprises are actively investing in Europe, with a growing number of M&A deals.
Experts note that while this presents opportunities, there are also risks, and synergy is key for success.

8. Rider Horse Gets Investment from SMC Capital China

SMC Capital China (under Simon Murray Group) and Khorchin Rider Horse Co., Ltd. established Inner Mongolia Ride Horse Industry Co., Ltd..
This is the first VC investment in China’s horse breeding industry.
The estimated total investment is RMB260M, with RMB60M already injected in Round A.
Round B is expected in 2013.
The horse industry is growing rapidly in China, with an annual growth rate over 20%, despite being under-invested compared to the US and UK.

9. Owture Gets First-Round VC Investment from SAI

Owture (Shanghai) Technology Co., Ltd. received its first-round VC investment from SAI (SIG).
The company, established in December 2011, focuses on cloud computing software.
According to Gartner, China’s cloud computing market share is less than 3%, but it is growing at 40% annually.
The industry needs more local high-tech enterprises to lead development.

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Conclusion

This issue of PEdaily E-Magazine highlights the dynamic growth and innovation in China’s PE/VC industry. It covers securities companies’ direct investment, major PE deals, VC funding for emerging tech and e-commerce firms, and strategic investments in niche sectors like the horse breeding industry. The magazine emphasizes the importance of data and analysis in guiding investment decisions and supports the development of China’s PE/VC ecosystem.