2017-投资界电子周刊No0562-英文版_11页_442kb

PEdaily E-Magazine Issue No. 562 Summary

Core Content

PEdaily E-Magazine, formerly known as Zero2ipo e-Weekly, is a weekly publication targeting professionals in the private equity (PE) and venture capital (VC) industries. It provides timely, accurate, and in-depth market reports, including investment and financing news, industry insights, data observations, and profiles of key figures in the sector. The magazine is supported by Pedaily.cn, which leverages its extensive investor network and over 10 years of research resources from the Zero2IPO Group to offer a professional platform with rich data and analysis.

Main Views and Key Information

1. Zero2IPO Ranking I: PE Firms under Securities Companies Outperform in Terms of IPO Exits

• IPO Activity in November 2012: Only five enterprises achieved IPOs in November 2012, with only one backed by VC/PE.
• IPO Exits Decline: VC/PE institutions saw a significant drop in IPO exits, with the secondary market being sluggish and the CSRC's new share issue system reform slowing down approvals.
• Return Rate Concerns: With shrinking return rates, VC/PE firms relying on IPO exits face greater challenges.
• Importance of Review: The article emphasizes the need to analyze successful VC/PE firms that have realized IPO exits and their return performance in the current market.

2. Xiabu Xiabu Completes Equity Transfer: GA Joins in and Actis Exits

• Equity Transfer: Actis transferred its equity in Xiabu Xiabu to GA.
• Strategic Consensus: The management of Xiabu Xiabu reached a consensus with GA on future development strategies.
• Actis Investment: Actis had invested $50M in Xiabu Xiabu in November 2008 and acquired majority ownership.

3. Winence.com Announces to Close Round B Fundraising

• Series B Financing: WineNice.com completed its series B fundraising from SCGC, a well-known domestic VC firm.
• Investment Amount: The total investment was RMB100M, jointly invested by SCGC and other unnamed institutions.
• Company Background: WineNice.com was established in 2008 and is one of the largest red wine e-commerce websites in China.
• Series A Investment: It previously raised RMB80M in its series A financing in September 2011.

4. Focus Media Acquires US$1.7B in Privatization to Facilitate Exit from NASDAQ

• Privatization Loan: Focus Media signed agreements with nine banks to acquire a loan of over US$1.7B.
• Loan Allocation: The loan was divided into three parts to facilitate its exit from NASDAQ.
• Participating Banks: Citi Group, Credit Suisse, DBS, Bank of America Merrill Lynch, CDB, CMBC, Deutsche Bank, ICBC, and UBS.
• Buyout Consortium: The buyout included Carlyle Group, Fountain Vest, CITIC Capital, and Everbright.

5. CYIT Communication Technologies Harvests Tens of Millions of US Dollar Investment

• Series B Investment: CYIT Communication Technologies received a series B investment from Samsung's SVIC21 investment portfolio.
• Company Background: CYIT is one of the earliest units in China to engage in TD technology development and has proprietary intellectual property rights.
• Independent Development: It is also one of the few Chinese companies with the capability to independently develop communication core chips.

6. Fosun Pharma Acquires 55% Equity in Suqian Zhongwu Hospital

• Acquisition Details: Fosun Pharma acquired 55% equity in Suqian Zhongwu Hospital through capital increase and share enlargement.
• Change in Hospital Nature: As part of the acquisition, Zhongwu Hospital was required to transform from a nonprofit to a profit-making hospital.
• Private Hospital Transformation: This follows the case of Suqian People's Hospital, marking another instance of private hospitals changing their nature after introducing venture capital.
• Investment Return Concerns: The article highlights the ongoing issue of return on investment in private nonprofit hospitals.

7. AstonMartin Sells 37.5% Equity to an Italy-based PE Fund

• Sale Completion: AstonMartin, a UK-based sports car brand, completed the sale of 37.5% equity to Investindustrial, an Italy-based PE fund.
• Investment Amount: Investindustrial injected GBP150M to acquire the equity.
• New Shareholders: Investindustrial and Investment Dar are now shareholders of AstonMartin, with Investment Dar remaining the major shareholder.
• Future Development: The two PE firms will jointly develop the brand, which has experienced ups and downs.

Subscription Information

• RSS Subscription: Subscribe to RSS
• Email Weekly Subscription: Subscribe to Email Weekly
• View More Weeklies: Click Here
• Feedback Email: Send Suggestions

Conclusion

This issue of PEdaily E-Magazine highlights the challenges faced by VC/PE firms in the context of a sluggish secondary market and regulatory changes. It also showcases significant investment and acquisition activities across various sectors, including e-commerce, healthcare, and automotive, reflecting the dynamic nature of the Chinese PE/VC industry. The magazine encourages readers to share their insights and continue to follow the developments in this rapidly evolving field.