Chinese new energy vehicle (NEV) start-up Singulato Motors has raised RMB3 billion (US$474 million) in a Series C round fundraising, the company announced.
Sequoia China Sues Cryptocurrency Billionaire Zhao, Exposes Binance Valuation
Sequoia Capital China’s lawsuit against Zhao Changpeng, founder and CEO of Hong Kong-based cryptocurrency exchange Binance, gives a rare view into how the world’s biggest exchange was valued as cryptocurrency prices soared.
Online Education Platform Knowbox Raises $100M From Yunfeng Capital
China’s K-12 online education platform Knowbox has raised US$100 million in a series C round led by Yunfeng Capital, the latest in a string of investments in China’s online education market.
Didi Chuxing Kicks Off Global Alliance for Car-sharing and "Purpose-Built" Vehicles
Chinese mobile car-hailing giant Didi Chuxing announced that is is teaming up with 31 global automobile makers to form the "DiDi Auto Alliance," an international car-sharing alliance, Didi announced in Beijing on Tuesday.
Eight Roads Ventures Launches $275M China Tech Fund
Eight Roads Ventures, the proprietary investment arm of Fidelity International Ltd, has announced the launch of a US$275-million special investment fund dedicated to Chinese technology start-ups.
China Huarong’s Lai Xiaomin Said Investigated For Financing Private Company
Last week, it was learned that Lai Xiaomin, party secretary and chairman of China Huarong Asset Management Co., Ltd., is under investigation due to "severe disciplinary breaches." Now news reports are emerging that the instigation is tied to the company’s financial backing of a private electrolytic manganese manufacturer Ningxia Tianyuan Manganese Industry Co., Ltd.
Ping An Healthcare To Raise Up To $1.12B In Hong Kong IPO
Ping An Healthcare And Technology Co., Ltd., which operates the popular healthcare and medical mobile app Ping An Good Doctor, will raise up to US$1.12 billion in a public offering in Hong Kong, according to a newly filed prospectus with the HKEX.
NIO Capital Said Raising $500M Offshore Fund For Auto Investment
NIO Capital, a private equity fund established by Chinese electric car company NIO, is close to completing the first round of a US$500 million offshore fund that will invest in new automotive technologies, according to media reports.
Alibaba Buys Chip Maker C-SKY Microsystems As China Seeks Semiconductor Self Reliance
Alibaba Group Holding has acquired 100% of Hangzhou C-SKY Microsystems Co., Ltd., an integrated circuit design house, in a move to expand the tech giant’s chip development capabilities, according to local Chinese media.
ZTE Claims US Ban On Technology Exports "Endangers Its Survival"
Chinese telecom equipment maker ZTE Corp said the U.S. ban on technology exports to the firm is unfair and will "endanger its survival."
Top Investors Share Insights On Opportunities and Challenges Investing In Cryptocurrency
Top crypto experts from Octagon Strategy Ltd., Amber AI and CYBEX gathered with premium cyrptocurrency investors and finance industry executives in Hong Kong for an informative panel discussion on the present and future opportunities of investing in cyptocurrencies.
Tencent Launches Online Document Tool To Rival Google Docs
Tencent Holdings has launched its own online document product focused on multi-person collaboration similar to Google Docs, the latest move by the Chinese Internet giant in the office application segment.
Tencent, JD.Com, Suning, Sunac Said To Invest $478M In LeEco TV Maker
Troubled Chinese technology conglomerate Leshi Internet Information & Technology Corp., Beijing(LeEco) appears to have received a much needed capital infusion from some of China’s biggest companies.
NetEase Online Education Platform Youdao Completes Series A Round, Reaching A Unicorn Valuation
NetEase Youdao, an online education subsidiary of China’s second-largest game publisher NetEase, has completed its series A round of funding with a valuation of US$1.1 billion led by Mooc-CN Education, with participation by Legend Capital.
PE Firm InfraRed Invests US$50M In HK Self-storage Provider RedBox
InfraRed NF, a Hong Kong-based real estate investment fund, has paid US$50 million for a 90% stake in Hong Kong self-storage provider RedBox Storage Limited, according to an announcement from InfraRed NF.
JD.com To Acquire 33% Stake In Insurer Allianz China To Beef Up Financial Services
JD.com Inc., China’s second-biggest e-commerce company, will invest RMB537 million (US$85 million) in Allianz China General Insurance, taking a 33% stake and becoming its second largest shareholder, according to the announcement published by the Insurance Association of China.
US Bans Technology Exports to China’s ZTE Over Trade Sanction Violations
U.S. companies have been banned for seven years from selling equipment to Chinese telecommunications company ZTE Corp. The ban stems from an earlier case in which ZTE plead guilty to violating U.S. trade sanctions on Iran.
China-Russia To Form $3.1B Fund For Regional Economic Development
China and Russia will create a joint US$3.1 billion investment vehicle targeting economic development in the Far East and application of blockchain technology, according to an agreement signed at the Boao Forum.
Former Alibaba Executive Kangming Deng Joins Auto Retail Services Platform Chehaoduo
Chehaoduo, a Chinese auto retail services platform formerly known as Guazi, announced today that Alibaba Group senior vice president Kangming Deng has joined the company as executive president and deputy chairman of the board of directors.
Tencent Said To Lead $3B Round In E-commerce Site Pinduoduo At $15B Valuation
Chinese social media-based e-commerce firm Pinduoduo is reported to have raised a US$3 billion investment round led by Tencent Holdings, at a valuation of US$15 billion.
China’s HNA Group Scraps Two IPOs In Two Weeks Citing Market Uncertainty
The campaign by Chinese aviation-based conglomerate HNA Group to pay down debt by unloading assets appears to have slowed in the face of market turbulence.
China-US Direct Investment Falls Sharply In 2017 Due To "Policy And Politics"
Investment flows between China and the U.S. fell sharply in 2017, brought on by a combination of “policy and politics,” according to a new report by the Rhodium Group.
Yan Yan, Former President of Soho China Joins Blackstone’s Asian Real Estate Team
New York-based investment firm Blackstone Group LP has announced that Yan Yan, former president of Chinese office real-estate developer Soho China, has joined as a managing director in its real estate team in Asia.
Chinese President Xi Jinping Offers Trade Concessions In Boao Speech
Chinese President Xi Jinping struck a conciliatory tone as he made his first public comments on trade tensions with the U.S., indicating that China could lift limits of foreign investment in China’s automobile and aircraft industries.
Chinese Online Game Streaming Platform Huya Files for $200M NYSE IPO
Chinese game live-streaming platform Huya Inc. has filed for a US$200 million initial public offering of American Depository Shares (ADS) on the New York Stock Exchange, according to a filing with the Securities and Exchange Commission.
China’s Xiaomi Said Eying Stake In Indian Fintech Start-up Zest-Money
Chinese smartphone and electronics brand Xiaomi is in talks to increase its stake in Indian financial technology start-up Zest-Money, according to Indian media reports. Xiaomi has previously said it intends to invest up to US$100 billion in Indian start-ups.
China’s HNA Group Looks To Sell US$6.3 Billion Stake In Hilton Worldwide
Financially-troubled Chinese conglomerate HNA Group Co Ltd. is looking to sell "some or all" of its US$6.3 billion stake in Hilton Worldwide Holdings Inc., according to a regulatory filing by Hilton. HNA, whose holdings range from airlines to hotels and financial services, is rapidly shedding assets to regain financial stability following a two-year, US$50 billion acquisition spree.
US Details 25% Tariff On $50B Chinese Imports, Including Electric Cars, Medicine
The U.S. government under Donald Trump has published a list of about 1,300 Chinese exports that could be hit with 25% tariffs. The tariffs would apply to about US$50 billion worth of goods, ranging from electric cars to education material.
China Slaps Tariffs On 128 US Imports In Reply To Trump’s Steel and Aluminium Duties
China has announced tariffs of up to 25% on 128 U.S. imports worth US$3 billion, in retaliation to U.S. duties on steel and aluminium, further escalating the ongoing Sino-U.S. trade war.
Baidu’s iQiyi Falls 13.6% In First Day Of Trade After $2.25B Nasdaq IPO
iQiyi, Inc., the online-video unit of Chinese tech giant Baidu Inc. fell sharply in its first day of trading on the Nasdaq Thursday, falling 13.61% to close at US$15.55, versus its IPO price of US$18. The decline came despite a strong performance by other tech companies on the day.
China’s Bilibili Launches On Nasdaq At $3B Valuation Despite Market Volatility
Chinese online video streaming company Bilibili Inc. launched on the Nasdaq market Wednesday, having raised roughly US$483 million at a valuation of more than US$3 billion. It marks the fourth Chinese company to list shares in the U.S. in a week, raising close to a billion dollars in aggregate despite extreme market volatility.