2017-投资界电子周刊No0522--英文版_14页_690kb

报告摘要

PEDaily E-Magazine Issue No.522 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 data, analysis, and expert opinions. The magazine is supported by the extensive investor network of Zero2IPO Group, which has over 10 years of research resources. It aims to serve a wide range of professionals, including investors, entrepreneurs, analysts, and lawyers, by offering a platform to share insights and witness the development of China's PE/VC industry.

Main Points and Key Information

Preschool Education Investment Trends

In H2'10, preschool education faced challenges such as difficult kindergarten admission and high costs, prompting government intervention.
VC/PE investment in the preschool education sector has increased, with notable deals:
- 2011: GGV Capital, Hotung International, and Investor AB invested US$20M in RYB Kindergarten.
- 2009: Sequoia invested in Etonkids International Educational Group.
- 2009: iD Tech Venture, DT Capital Partners, and The CID Group invested US$8M in M Media Group.
- 2008: iD Tech Venture invested US$5M in Dadikid Kindergarten.

Bank of Ningbo and CITIC PE Strategic Cooperation

On Feb. 15, 2012, Bank of Ningbo signed a strategic cooperation agreement with CITIC Private Equity Funds Management Co., Ltd.
The collaboration covers fundraising, project investment, and post-investment management.
Banks can benefit from intermediary services and equity returns through "creditor's rights + equity" financing models.
Due to China's Commercial Banks Law, banks cannot hold non-business shares directly, hence the need for cooperation with PE firms.

S*ST Beiya Restructuring

S*ST Beiya received conditional approval from the CSRC for its restructuring scheme.
The company plans to re-enter the capital market, becoming the first to hold both financial shares and venture capital investment status.
The restructuring process was reviewed by the CSRC's Merger and Acquisition Committee on Feb. 13, 2012.

CBC's Public Listing Plans

CBC, operated by CMMB, plans to go public in 2014 and is in the stage of shareholding reform.
China Mobile is expected to become a shareholder of CBC.
Previously, CBC was under the Ministry of Finance and then under SARFT.

Shanda Completes Going Private

Shanda completed its merger with Premium Lead Company and New Era Investment Holding.
Shanda became a subsidiary of Premium, a Virgin Islands-based company.
Shanda announced the suspension of its American Depositary Receipts trading on NASDAQ.

Bain Capital's Expansion in China

Bain Capital closed Bain Capital Asia Fund II with US$2.00B.
The firm is planning to launch RMB funds and establish a branch in Beijing.
Bain Capital identified three exit options: stock market, strategic investor, and financial investor.

Regulatory Changes in PE/VC

The NDRC proposed raising the minimum investment threshold for PE/VC funds to RMB10M for individual investors.
This change was implemented by several institutions, including Fortune, CDH, and CITIC Capital, despite opposition from many in the industry.

Cloud Innovation Technology Secures Investment

Chengdu Cloud Innovation Technology received an angel investment of several millions of yuan from Zeng Liqing's Dexun Investment.
The company specializes in children's music education applications and has developed products such as guzheng and erhu, which are popular on the Apple App Store.

AppChina Completes Round A Financing

AppChina completed RMB10M-grade Round A financing in the Android application market.
Innovation Works was one of the investors.
AppChina has a large user base, with nearly 10 million installed applications and over 100 million monthly downloads.