2017-投资界电子周刊No0559-英文版_14页_738kb

PEdaily E-Magazine Issue No. 559 Summary

Core Content

PEdaily E-Magazine (formerly Zero2ipo e-Weekly) is a weekly publication targeting professionals in the private equity and venture capital (PE/VC) industry. It provides up-to-date news, analysis, and insights on investment and financing activities, industry trends, and market dynamics in China. The magazine is supported by extensive investor networks and leverages over 10 years of research from the Zero2IPO Group to deliver in-depth reports and data-driven analysis. It invites all industry participants—investors, entrepreneurs, analysts, and lawyers—to contribute their perspectives and follow the development of China’s PE/VC sector.

Main Views and Key Information

1. China M&A Market in Q3 2012

• Market Performance: The M&A market in China experienced a slump in transaction volume during Q3 2012 due to the weak global economic environment.
• Global Context: Developed economies showed slow recovery, with the EU summit offering some relief but not enough to significantly boost the market. The US economy showed signs of improvement, but its impact on China remained uncertain due to the introduction of QE3 and the weak USD.
• Domestic Factors: Weak export performance and insufficient consumer demand contributed to a challenging macroeconomic environment, further affecting M&A activity.

2. Venture Capital and Private Equity News

• Ppdai.com Completes Series A Financing: The company, founded in 2007, received less than $25M in Series A investment from Sequoia Capital China. It has achieved significant turnover, reaching RMB280M in 2011 and RMB200M in the first half of 2012.
• iStart Invests in Lezu365.com: iStart, an angel investor, invested in Lezu365.com, an online leasing service company. The investment was driven by the company's strong team, viable business model, and the potential of O2O mobile Internet ventures.
• Yacol Information-Sharing Completes Series B Financing: The company, led by Tiantu Venture Capital, raised several hundred million yuan in Series B financing. It operates Yakuxinxi.com, a major discount consumption platform, and is known for its Yacol Card product.
• Huanju Listed on NASDAQ: Huanju (stock code: "YY") successfully listed on NASDAQ, marking the resumption of China concept stocks' US IPOs after an 8-month suspension. The IPO raised about $81.9M and is expected to have a market value of $560M.
• Taomee Invests in 7k7k’s Parent Company: Taomee, a children’s entertainment media company, invested $6.21M in Gamespedia, which operates 7k7k.com. The investment was made in two installments in September and October 2012.
• Blackstone Group Acquires Top Ryde in Australia: Blackstone Group, an American PE firm, planned to purchase Top Ryde, an Australian shopping center in bankruptcy, for AU$341M. The company had previously acquired Valad Group for AU$208M and assumed AU$600M in debt.
• SCI Panshi Venture Capital Fund Raised RMB300M: This fund, focusing on national strategic emerging industries such as new generation information technology and new energy, was established with government guidance. The fund management team, including Shanghai Commercial Investment Group and Stone Capital, raised RMB300M.
• Ningbo Establishes First Non-Profit Angel Investment Guidance Fund: The Ningbo Municipal Government set up a non-profit angel investment fund worth RMB500M over five years, with RMB200M from the municipal fiscal fund. The fund will officially start operations on January 1, 2013.

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