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PEDaily E-Magazine Issue No.537 Summary

Core Content

PEDaily E-Magazine Issue No.537, published on June 15, 2012, is a weekly publication targeting professionals in the private equity (PE) and venture capital (VC) sectors. It provides timely, accurate, and in-depth market reports, covering investment and financing news, industry insights, data observations, and expert opinions. The magazine is a continuation of Zero2ipo e-Weekly, which has been operating since 2006, and is supported by extensive investor networks and over a decade of research resources from Zero2IPO Group.

Main Views and Key Information

1. CSRC Prioritizes Western China IPOs

• The China Securities Regulatory Commission (CSRC) is prioritizing the review of IPO applications from companies in western China to support regional economic development and balance resource allocation.
• Twelve provinces, including Sichuan, Chongqing, Yunnan, and others, are targeted for this policy.
• Only 66 out of 687 IPOs in the pipeline are from western regions, highlighting the disparity in the number of listed and unlisted companies between eastern and western China.

2. Sinochem Acquires Stake in Jiangsu Sinorgchem

• Sinochem International plans to acquire a 60.976% stake in Jiangsu Sinorgchem Technology Co., Ltd. for up to RMB2.82B.
• The acquisition includes a 100% stake in HK Carlyle Sinorgchem Industry Co., Ltd. and a 20.976% stake in Jiangsu Sinorgchem.
• Jiangsu Sinorgchem specializes in the sales and technical consulting of rubber chemicals and chemical synthetic medicine.

3. Ctrip Announces US$300M Share Repurchase Program

• Ctrip announced a US$300M share repurchase program, using its cash reserves and dividends from the China Branch.
• The China Branch will pay a 5% tax on dividend remittances to the Hong Kong Branch, which will slightly reduce the diluted earnings per ADR for the relevant quarter.

4. Titan Wind Acquires Danish Wind Tower Plant

• Titan Wind Energy acquired all operating assets of Varde Wind Power Plant from Vestas and Vestas Blades for EUR15.18M.
• The plant, established in 1996, is the only European facility specialized in wind tower manufacturing by Vestas.

5. Cathay Industrial Biotech Withdraws NASDAQ IPO Plan

• Cathay Industrial Biotech withdrew its plan to list on NASDAQ.
• The company had previously raised about US$89.70M through four rounds of financing from various VC institutions.

6. Hoodong.com Secures US$50M in Round C Financing

• Hoodong.com, an online Chinese encyclopedia, is launching a Round C financing of up to US$50M.
• Some of the funding is expected to come from Xpert Financial, aiding unlisted enterprises in securing late-stage financing.

7. Sino Wealth Electronic Listed on ChiNext

• Sino Wealth Electronic Ltd. was listed on ChiNext on June 13, 2012, with a total issuance of 32 million shares at RMB12.50 per share.
• The proceeds will be used for technical transformation projects in microcontroller chips and related operations.
• The company has been listed on the Shanghai High-tech Enterprises list for 11 consecutive years.

8. Kinetic Medical Listed on ChiNext

• Shanghai Kinetic Medical Co., Ltd. listed on ChiNext on June 13, 2012, issuing 13 million shares at RMB29.09 per share.
• The funds will be allocated to projects related to balloon angioplasty and vertebroplasty systems.
• The company specializes in the research, development, production, and sales of medical devices.

9. DoNews and Ameba Capital Launch New VC Fund

• Liu Ren, founder of DoNews.com, and Ameba Capital established DoNews Studio Fund to support early-stage entrepreneurs in China's Internet industry.
• The fund will provide startup capital, office space, project demonstration, product positioning, and other services.
• Ameba Capital is an early-stage fund in China's Internet sector, backed by three senior industry figures.

Market Trends

• The capital market in 2012 is facing a changing climate, characterized by more rigorous regulation and fierce competition.
• IPOs and exits are on a bumpy road, with fresh IPOs struggling amid market volatility.
• The high-profit era for VC/PE is drawing to a close, and a shakeout is approaching.
• Early-stage investments and angel investments are booming, while real estate funds are outperforming.
• Investors are advised to prepare for the new market environment by adjusting their strategies.

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Conclusion

This issue of PEDaily E-Magazine highlights key developments in the Chinese PE/VC sector, including regulatory changes, major IPOs and acquisitions, and evolving market trends. It serves as a valuable resource for investors, entrepreneurs, analysts, and legal professionals seeking to understand and navigate the dynamic landscape of China's capital markets.