2017-投资界电子周刊No0567-英文版_10页_336kb

PEdaily E-Magazine Issue No.567 Summary

Core Content

This issue of PEdaily E-Magazine, published on January 25, 2013, provides an overview of the Chinese PE/VC industry and highlights several key developments in the IPO market and venture capital sectors. The magazine serves as a weekly information source for professionals in the private equity and venture capital fields, offering timely, accurate, and in-depth market reports. It is supported by Pedaily.cn, which has built on the 10+ years of research resources from Zero2IPO Group to provide comprehensive insights into the market.

Main Views and Key Information

1. China's IPO Market in 2012

• The Chinese IPO market faced challenges in 2012 due to economic slowdown and a weak secondary market.
• Only two Chinese enterprises were listed on US capital markets in 2012, with YY Inc. being a notable success.
• Despite the privatization of China concept stocks continuing without interruption, some companies turned to the European market for listing.
• Domestically, the CSRC slowed down IPO reviews, leading to only 154 enterprises listed on the three capital markets in the first 11 months of the year.
• Over 800 companies were still awaiting IPO approvals, indicating a slowdown in market activity.

2. Recent Venture Capital Fund Launches

• Hengli Rongyi VC Fund was officially established in Guangdong with a total size of nearly RMB500M and an initial scale of RMB300M.

• The fund will be structured with a Board of Directors, Board of Supervisors, and Investment Strategy Committee.

• Since the establishment of a financial service platform, over a dozen enterprises in Hengli Town have successfully partnered with financial institutions, raising more than RMB160M.

• Some enterprises have already reached financing agreements with financial institutions.

• Haitong Securities launched a RMB150M Energy & Low Carbon Industrial Fund in collaboration with Liaoning Energy Investment (Group) Co., Ltd..

• The fund's management entity was also established.

• In addition, Haitong Securities contributed RMB150M to purchase partial floors of its building for office purposes.

3. UNIQLO's IPO Plans

• UNIQLO, the Japanese clothing brand, planned to list in Hong Kong in 2013 via an introduction.
• The brand had shown interest in Hong Kong IPO since August 2012, following the successful listing of Dynam.
• However, UNIQLO delayed its IPO plan due to concerns over low trading volume of SBI and political factors.

4. Taobao's Brand Acquisition

• Taobao's womenwear brand Rip acquired Angel Citiz, a Chinese e-commerce company.
• This is the largest acquisition among Taobao series brands to date.
• Industry insiders believe the M&A will trigger brand integration within Taobao's ecosystem.
• The CEO of Rip, Tang Dafeng, did not comment, but Zhang Ying, a partner from Matrix Partners China, confirmed the deal.

5. Liu Qiangdong's IPO Activities

• Liu Qiangdong, CEO of 360Buy, met with funds in Hong Kong to gauge market sentiment regarding the company's IPO.
• This move is seen as competing with Alibaba Group, which may seek an IPO in Q4 2013.
• Unlike previous meetings with investment banks, Liu Qiangdong focused more on conversations with funds to understand current market attitudes.

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Conclusion

This issue highlights the ongoing challenges in the Chinese IPO market, the growth of venture capital funds, and the strategic moves by major companies like UNIQLO and Taobao. It also reflects the competitive landscape in the IPO arena, particularly between Alibaba and 360Buy. The magazine continues to serve as a valuable resource for industry insiders, offering in-depth analysis and timely updates.