2017-投资界电子周刊No0529--英文版_13页_971kb

PEDaily E-Magazine Issue No.529 Summary

Core Content

PEDaily E-Magazine, previously known as Zero2ipo e-Weekly, is a weekly publication tailored for professionals in the private equity and venture capital (PE/VC) industry. It provides up-to-date information on investment and financing news, industry insights, data analysis, and expert opinions. The magazine is published by Pedaily.cn, which leverages its extensive investor network and over 10 years of research resources from the Zero2IPO Group to deliver in-depth market reports and build a professional platform for data and analysis.

Main Points and Key Information

1. Q1 2012 IPO Activity

• Total IPOs: 118 enterprises listed on 13 overseas and 3 domestic exchanges.
• Chinese IPOs: 60 enterprises went public, accounting for 50.8% of global IPOs.
• Financing Amount: The total financing amounted to US$6.21B, or 47.8% of the global total.
• Average Financing: US$103.44M per Chinese IPO.
• Global Trend: Global IPO proceeds totaled US$12.98B, with an average of US$110.02M per IPO.

2. China Cord Blood Corporation Secures KKR Investment

• Investment: KKR China Growth Fund invested US$65M in China Cord Blood Corporation.
• Company Profile: A leading cord blood supplier in Greater China with the widest business coverage and multiple practice certificates.
• KKR Background: Founded in 1976 by Henry Kravis and George Roberts, a top-tier global investment firm.

3. China Auto Rental's NASDAQ IPO

• IPO Date: Scheduled for April 26, 2012.
• Issue Price: Expected to range from US$10.5 to US$12.5.
• Financing Target: US$158M at most.
• Underwriters: JP Morgan Chase, Bank of America Merrill Lynch, and Morgan Stanley.
• Stock Code: CARH.
• Market Context: Despite the resumption of Chinese concept stocks on U.S. exchanges, the capital environment remained challenging, as seen with VIPSHOP's IPO.

4. Bag Shopping Secures Series A Funding

• Investment: Raised US$12M in Series A funding, mainly from Chengwei Ventures.
• Company Background: Founded in May 2011, developing mobile shopping applications for light e-commerce.
• First Product: "Shopping on Taobao.com" was released on September 15, 2011.
• Market Growth: The mobile Internet market in China was valued at RMB39.31B in 2011, up 97.5% year-on-year, with a projected boom in 2012 due to mobile e-commerce growth.

5. KuaiShubao Receives RMB9M Investment from WeiboVC

• Investment: RMB9M from WeiboVC.
• Company Overview: Founded in 2010, offering e-commerce delivery services with a focus on "delivery within one hour".
• Service Coverage: Seven major cities including Beijing, Shanghai, Xi'an, Chengdu, Changsha, Hangzhou, and Tianjin.

6. GI Technologies Goes Public on ChiNext

• IPO Details: Listed on Shenzhen Stock Exchange at RMB31 per share with a P/E ratio of 33.99.
• Shares Issued: 28 million, bringing total shares to 108.637 million.
• Major Shareholder: CICC Alternative Investment, holding 6.99% of shares.
• Company Focus: High-tech firm specializing in petroleum logging instruments with independent intellectual property.

7. Ourpalm.com Secures IPO Approval

• Approval Date: January 2012.
• Listing Status: Will be the first mobile phone game company listed on the A-share market.
• Huayi Brothers Investment: Acquired RMB148.5M in 2010, holding 20.97% of shares.
• Expected ROI: 4 to 5 times for Huayi Brothers within two years.
• Market Capitalization: Projected to reach RMB3.5B post-listing.

8. Net Ease Capital Launches

• Establishment: Founded in August 2004, Net Ease established Net Ease Capital with RMB2B in size.
• Focus: Early- and medium-stage Internet companies.
• Leadership: Xia Weijun, former Managing Director of HGI Capital, leads the firm.
• Financial Strength: Net Ease had US$2B in cash and equivalents as of December 31, 2011, making it a financially strong player in the Chinese internet sector.

Events and Trends

• Capital Market Challenges: The Chinese concept stock market faced uncertainty and ambiguity in Q1 2012.
• IPO Delays and Adjustments: Some companies, like China Auto Rental, shifted from NYSE to NASDAQ, and VIPSHOP reduced its issue price and faced a sharp drop in stock price post-listing.
• Growth in Mobile Internet: The mobile Internet market showed significant growth, with RMB39.31B in 2011 and a 97.5% increase year-on-year, indicating potential for a boom in 2012.

Conclusion

The issue highlights the mixed performance of the Chinese PE/VC industry in Q1 2012, with notable IPO activity, major investments, and new venture capital firms emerging. Despite the challenging capital environment, there are opportunities in mobile internet and e-commerce, suggesting a recovery and growth in the sector. The magazine also emphasizes the importance of global insights and learning from international experiences to drive success in the Chinese market.