投资界电子周刊No0520--英文版_12页_599kb

报告摘要

PEdaily E-Magazine Issue No.520 Summary

Core Content

This issue of PEdaily E-Magazine (Issue No.520, published on Feb 3, 2012) provides an overview of recent developments in the Chinese PE/VC industry, highlighting key events such as company delistings, new investment funds, and major acquisitions. The magazine serves as a platform for investors, entrepreneurs, analysts, and lawyers to gain insights into the evolving landscape of private equity and venture capital in China.

Main Points

1. Listing Activity Overview

As of January 31, 2012, 485 companies were in the process of listing on the Main Board and SMEB as well as ChiNext.
295 companies aimed for the Main Board and SMEB, while 190 targeted ChiNext.
50 companies were under preliminary examination for Main Board and SMEB, including notable firms from the city commercial bank and catering industry sectors.
25 companies were under preliminary examination for ChiNext.
30 companies had discontinued the preliminary examination process.
Go Believe and Guangzhou Restaurant Group were highlighted in the catering sector.
South Beauty was terminated from the preliminary examination list, with the reasons attributed to revenue recognition and cost control issues.
Only two catering companies were listed on the A-share market: Quanjude and XEQ.

2. Little Sheep Delisting

Little Sheep, known as China's "first hot pot stock," was delisted from the HKEx on Feb 2, 2012.
It was privatized by Yum Group, with Lu Wenbing, former president of Little Sheep, being replaced by someone from KFC's management.
The delisting marks four years since its initial listing.
Yum stated it would carry out "timely" integration of Little Sheep into its operations.

3. PICC Arms Industrial Fund

PICC set up a RMB1B arms industrial fund, with PICC Capital Investment Management, China North Industries Group Corporation, and Changjiang Securities as major contributors in a 3:4:3 ratio.
The fund has RMB200M in initial capital and is awaiting CIRC approval.
PICC Property Insurance has submitted an application for a PE investment license to the CIRC.

4. Andréessen Horowitz Fund

The American venture capital firm Andréessen Horowitz closed a US$1.5B investment fund.
This is its third fund since 2009, focusing on sci-tech companies.
It has invested in about 90 companies, including Facebook, which is set to list soon.

5. Sany Heavy Industry & Citic Fund Acquire Putzmeister

Sany Heavy Industry and Citic Fund acquired Putzmeister, a German engineering machinery company.
Sany Germany contributed Euro324M for 90% equity, while Citic Fund acquired 10%.
Putzmeister, founded in 1958, is a leading brand in concreting machinery with 3,000 employees and Euro491M in total assets as of 2010.

6. Carlyle Group Sells H Shares of China Pacific Insurance

Carlyle Group sold 18 million H shares of China Pacific Insurance.
The shareholding ratio dropped from 5.15% to 4.94%, with Carlyle Holdings Mauritius Limited still holding 113 million H shares.

7. Li Ning Secures Strategic Investment from TPG

Li Ning, a leading Chinese sports brand, received a RMB750M strategic investment from TPG, a U.S. PE fund with significant experience in the retail industry.
The investment led to a 21% increase in Li Ning's stock price for two consecutive trading days.
TPG has been active in China for 17 years and manages US$48B in assets.

Key Information

The magazine emphasizes its professionalism and in-depth analysis, built on 10+ years of research from the Zero2IPO Group.
It encourages industry insiders to contribute their views and insights.
Subscription options are provided, including RSS feed and email weekly.
The magazine can be accessed via a link to more weeklies.
Feedback can be sent to pedaily@e-zero2ipo.com.cn.

Conclusion

This issue reflects the dynamic nature of the Chinese PE/VC market, showcasing both the challenges faced by companies seeking to list and the strategic moves by major players in the industry. It also highlights the growing influence of international investment firms in the Chinese market.

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