Chinese online smart recycling platform Xiaohuanggou announced that it has raised a RMB1.05 billion (US$163.67 million) series A round from Beijing-headquartered asset management firm Zhongzhi Enterprise Group.
Sequoia Capital, Shunwei Lead $38M D Round In London-based IP Analytic Platform PatSnap
Sequoia Capital and Shunwei Capital have led a US$38 million series D round in London-based IP Analytic and Management platform PatSnap.
Australian Medical Device Firm Sirtex Accepts CHD’s $1.4B Acquisition Bid
Australian medical device company Sirtex Medical Limited (ASX: SRX) announced today that its board of directors has recommended acceptance of a A$1.87 billion (US$1.4 billion) acquisition proposal by Chinese alternative asset fund manager CDH Investments.
SoundAI’s Chang Le: Voice-Controlled Devices Next Battlefield For Digital Traffic
China’s tech giants are waging a price war over smart speakers. But that’s ok with Chang Le, co-founder of Beijing-based start-up SoundAI, who sees it as a sign of market strength. Baidu just released its lower-end smart speaker Xiaodu at a special discount price of RMB89 (US$13.9), the same as Alibaba’s smart speaker Tianmao Jingling (Tmall Genie), and little more than JD.com’s Dingdong, which is selling at a discounted RMB79 (US$12). Chang says the price war is completely understandable because every …
Shunewei Capital, DCM Ventures Lead $66M Series C Round In Online Pharmacy Trading And Education Platform Yaoshibang
Yaoshibang, a Guangzhou-based online pharmacy trading and education platform, announced that it has completed a RMB420 million (US$65.7 million) series C round led by Shunwei Capital and DCM Ventures.
Used Car E-commerce Platform Uxin Sets Terms For $437M US IPO
Chinese used car e-commerce platform Uxin has set terms for its US$437 million initial public offering on NASDAQ, according to its security filing.
Tencent Said To Lead A $500M Deal In Korean Game Developer Bluehole
Chinese social media giant Tencent Holdings Ltd. is leading a deal to acquire as much as 10% stake in Korean game developer Bluehole Inc. for more than US$500 million, according to a Wall Street Journal report citing insiders.
Chinese Electric Car Maker Byton Prepares For Mass Production Of 150,000 Vehicles
Chinese electric vehicle manufacturer Future Mobility Corporation, the parent company of Byton, has placed an order for a paint shop capable of dealing with 150,000 cars per year in Nanjing, according to an announcement by German mechanical and plant engineering firm Dürr.
Alibaba, SoftBank Invest $222M In Indian E-commerce Platform Paytm Mall
China’s largest retailer Alibaba Group Holding has joined SoftBank to invest 15 billion India rupee (US$222 million) in Indian e-commerce platform Paytm Mall, as part of the 30 billion India rupee funding commitment initially announced in April, according to Indian local media reports.
Beijing-based Fintech Firm 9f Group Raises $65M Series D Round
Beijing-based fintech company 9f Group announced that it has raised a US$65 million series D round from industrial funds Famous Group and Plentiful International, according to 9f Group’s announcement.
Haide Industry Raising $858M To Expand Non-performing Asset Business
Shenzhen-listed company Hainan Haide Industry Co., Ltd. has announced plans to raise up to RMB5.5 billion (US$858 million) from not more than 10 investors to boost its asset management subsidiary, according to its security filing.
Didi-backed Grab Receives $1B Investment From Toyota
Japanese automaker Toyota Motor Corporation has announced a US$1 billion investment in Grab Holdings Inc., a Singapore-based ride hailing company backed by China’s largest ride hailing firm Didi Chuxing.
Chinese Household Appliances Manufacturer Xinfei Electric Begins Asset Auctions In Restructuring
In its latest reconstruction moves, household appliances manufacturer Henan Xinfei Electric Co., Ltd., has auctioned its brand equities and fixed assets worth of millions of RMB to look for new investors.
ICBC International, SPDB International Invest $200M Series C+ Round In Chinese AI Firm Yitu Technology
ICBC International Holdings Ltd, SPDB International and Gaocheng Capital have invested in a US$200 million series C+ round in Yitu Technology, a Shanghai-based artificial intelligence start-up specialized in the field of machine vision, big data and advanced hardware, according to Yitu’s announcement on its official WeChat account.
Chinese Digital Asset Investment Platform LendChain Raises Tens Of Millions Of RMB
Chinese distributed digital assets platform LendChain has raised tens of millions of RMB from Chinese blockchain company GXChain, Sydney-based blockchain firm Bitpei, Beijing-based investment fund PreAngel, Fission Capital, and others, according to GX Chain’s announcement on its official WeChat account.
Baidu Continues Smart Hardware Push With Discounted Smart Speaker
Three months after China’s largest search engine Baidu Inc. launched its smart speaker with screens called Xiaodu Zaijia, the company has introduced another, smaller version at a deeply discounted price.
WuXi AppTec Leads Strategic Funding In US Healthcare AI Firm Insilico Medicine
Shanghai-based pharmaceutical and medical device firm WuXi AppTec has led a strategic funding round in Insilico Medicine, a Baltimore-based artificial intelligence company specializing in the application of deep learning for target identification, drug discovery and aging research.
Baidu Said To Prepare For CDR Listing As The First Chinese Tech Stock To Return Home
China’s largest online search engine Baidu Inc. is preparing for its Chinese Depository Receipts (CDR) issuance application, likely to become the first Chinese company that has listed overseas to return to the domestic A-share market, according to Chinese local media citing insiders.
Ant Financial Makes Strategic Investment In Chinese Checkout-Free Store Xingbianli
Alibaba’s fintech affiliate Ant Financial has made a strategic investment in Xingbianli, a checkout-free convenience store operator that focuses on placing snack bars in offices. The size of the investment in Sequoia-backed Xingbianli was not disclosed.
Sports Platform Health Mall Raises $78M Series C Round
Health Mall, a Guangzhou-based online sports equipment and services platform has raised a RMB500 million (US$78 million) series C round, the firm announced at a press conference in Guangzhou.
Sequoia Capital China Said To Invest In Bitmain’s $400M Pre-IPO Round
Sequoia Capital China is said to have led a US$400 million pre-IPO round in Beijing-based Bitcoin miner and mining chip designer Bitmain Technologies Ltd., valuing the firm at US$12 billion, according to Chinese local media reports citing insiders.
Chinese Bitcoin Mining Chip Maker Bitmain Considers IPO
Beijing-based Bitcoin miner and mining chip designer Bitmain Technologies Ltd. is considering an initial public offering in Hong Kong or in an overseas market with U.S. dollar-denominated shares, Bitcoin’s co-founder Jihan Wu told Bloomberg in an interview.
Xiaomi Said To Be First Chinese Unicorn To Issue Dual-listing CDR
Chinese smartphone and electronics company Xiaomi Inc. has submitted an application with Chinese securities regulators to issue Chinese Depository Receipts (CDR), according to Chinese media reports citing insiders.
Ant Financial Raises $14B In Series C Equity Financing
Alibaba’s financial affiliate Ant Small and Micro Financial Services Group Co., Ltd. announced today that it has entered into definitive agreements with investors for its Series C equity financing totaling approximately US$14 billion.
Chinese Co-working Space Operator Nashwork Raises $78M Series B+ Round From Sino-Ocean Capital
Sino-Ocean Capital, the investment arm of real estate state-owned enterprise Sino-Ocean Group Holding, has led a RMB500 million (US$78 million) series B+ round in Chinese co-working space operator Nashwork.
Chinese Used Car Auction Platform Tiantianpaiche Receives $100M Investment From Autohome
Chinese used car auction platform Tiantianpaiche has received US$100 million strategic investment Autohome, a Chinese automobile online platform, according to Tiantianpaiche’s announcement on its official WeChat account.
New CSRC Rules Allow Overseas-listed Chinese Firms To Raise Money At Home
China’s securities regulator China Securities Regulatory Commission (CSRC) has issued trial rules for issuance and trading of Chinese Depositary Receipts (CDRs), similar to ADRs in the U.S.
Hillhouse Capital Leads $35M Series B+ Round In Hangzhou Just Biotherapeutics
Beijing and Hong Kong-based investment firm Hillhouse Capital has led a US$35 million series B+ round in antibody and recombinant protein biotherapeutics firm Hangzhou Just Biotherapeutics (HJB).
Guizhou Establishes $470M Big Data Industrial Fund
The government of Guizhou Province, China, has announced plans to establish a RMB3 billion (US$470 million) industrial fund to boost big data development.
Chinese Private Equity Firm Cornerstone Seeks $70M US IPO
Guangzhou-based private equity firm Cornerstone Management, Inc. has filed for a US$70 million initial public offering on NASDAQ, according to its security filing.
Tencent, Geely Win Joint Bid For China Railway Wifi Provider
Chinese social media giant Tencent Holdings Ltd and automaker Zhejiang Geely Holding Group have won a joint bid to obtain a 49% stake in High Speed Network Technology Company, which provides WiFi and technology services to high-speed rail customers across China.