IDG Capital’s name appeared in a curious press release today. “Secoo: IDG Capital Will Continue to Support Undervalued Secoo After Restrictions Are Lifted,” it reads. Secoo Holding Ltd, a Chinese luxury e-commerce retailer that raised around US$140 million in a NASDAQ IPO last month, has seen its share price nearly halve during the past three weeks after shares began trading on September 22. The company’s ADR closed at US$6.97 apiece on October 12, compared to its IPO price of US$13 …
New York-listed Chinese educational company New Oriental Education & Technology Group Inc. will establish funds worth a combined US$1.8 billion to invest in education industry start-ups and pursue mergers and acquisitions globally, according to local reports.
When China’s largest footwear retailer Belle International was delisted from the Hong Kong Stock Exchange in July following a US$6.8 billion take-private deal, the news was greeted with melancholy. “The Official Fall Of The King Of Shoes”, read one headline, catching the sentiment of the time.
The Chinese government announced a new policy directive to further encourage innovation in new drug development and medical device yesterday, making significant changes to existing policies to spur an already thriving healthcare sector in the country.
Chinese search engine giant Baidu Inc. has opened its second research and development facility in Silicon Valley, to focus on autonomous driving and Internet security related work.
Deal activity in China was strong in 2016. AI and sharing economy were the top two buzzwords in capital markets. How has the situation changed in 2017? The tech channel at Tencent News and startup database IT Juzi jointly released a report on the venture capital trend in the first half of 2017. China Tech Insights is authorized exclusively to release the English version of the report, and China Money Network is republishing the report via a partnership with China …
Yao Capital, backed by former NBA player Yao Ming, has led a RMB500 million (US$75 million) series A round in Doing Now, a Beijing-based sports training company.
It’s Monday morning, and Ms. Li, a sanitation worker at a Shenzhen apartment building is busy emptying leftover food from delivery boxes and collecting the plastic containers. On this day, she finds about 200 pieces, which she’ll sell for just RMB3 to augment her RMB2000 monthly salary. Monday morning offers the best pickings as the garbage can is full of food delivery bags dumped over the weekend.
Canyon Bridge Capital Partners LLC, a private-equity firm backed by Chinese state-owned China Reform Fund Management, has agreed to acquire U.K. chip maker Imagination Technologies in a deal that values the British firm at £550 million (US$745 million).
Venture capitalists are throwing money at China’s cashier-free convenience stores. But will they actually make money, or learn once again that retail, even tech-driven retail, is a brutal business of low margins, low barriers to entry and high fixed costs?
The rise of a drinking culture at Chinese social gatherings, along with increased disposable income among younger consumers, are set to drive the value of China’s spirits market to over US$450 billion and take around 46.9% of global market share by 2021, according to analytics firm GlobalData.
Tencent Holdings Ltd. has agreed to invest HK$2.86 billion (US$367 million) in China International Capital Corp Ltd (CICC) for a 4.95% stake in the company. At the same time, the two parties said they have agreed to establish a strategic partnership in a range of services and products leveraging Tencent’s financial technology and CICC’s wealth management capabilities, according to a joint announcement.
Chinese search engine Baidu Inc. has hired Herman Yu (pictured), former chief financial offer of Chinese social media company Weibo Corp., as its new CFO.
JD.com Inc. and its financial technology unit JD Finance have agreed to team up with Thailand’s largest retail conglomerate Central Group to invest an aggregate of up to US$500 million to establish two joint ventures in Thailand covering e-commerce and fintech services, in the Chinese e-commerce giant’s major foray into the Thai market.
It’s the paradox at the core of China investing: why has such a phenomenal economy proved such a disappointing investment destination for so many global institutional investors, PE firms and Fortune 500s.
U.S. President Donald Trump has blocked a Chinese-backed investor from buying American chip maker Lattice Semiconductor Corp., only the fourth time in a quarter century that a U.S.president has banned a foreign takeover of an American firm on national security grounds.
China and the United States are both artificial intelligence superpowers. But China may soon be the clear leader, at least in terms of AI patents filed. The U.S. currently has more, with 35,508 AI patents, versus 34,345 for China. But as Chinese companies and scientists are filing AI patents at a faster pace, the nation is likely to hold more AI patents than the U.S. by year end, according to a report by Sequoia Capital China and Zhen Fund.
An agriculture insurance joint venture between Ant Financial Services Group and China United Insurance Holding Co. has received a green light from China’s insurance regulator, making it the first agriculture technology company co-established by an insurer to achieve regulatory approval from the China Insurance Regulatory Commission (CIRC).
Chinese iPhone enthusiasts are clamoring to be the first in line to buy the soon to be release iPhone 8. But to get ahead of the crowd they will have to pay a steep price.
Hong Kong has failed in terms of innovation and technology development when compared with other countries in the region, including mainland China, Singapore and South Korea, famed Chinese angel investor Bob Xu said in a forum held in the special administrative region yesterday.
Chinese medical device maker Basecare, which specializes in manufacturing devices for embryonic pre-implantation genetic screening, has raised a RMB100 million (US$14 million) series B round from unnamed investors.
Whenever I see a small company having a startling large impact on the world, I look for an engine. I look for something that is amplifying what a relatively small number of people are doing. For example, the engine that rocketed Facebook (and Wechat) upwards was the economics and psychology of social media (plus viral marketing). The engine that powered Macau to become five times Las Vegas in a few years was the psychology of gambling plus 1.4B Chinese consumers. …
Israel’s Innoviz Technologies, a LiDAR sensing solutions developer targeting autonomous vehicles, has raised a US$65 million series B round.
BlueRun Ventures China has led a US$32.5 million series C round in Airobotics, an Israeli manufacturer of fully automated industrial drones, with participation from Microsoft Ventures, crowdfunding platform OurCrowd.com and an unnamed strategic investor.
China Money Network successfully held an event in Shanghai on September 4 at the naked hub Shanghai Xintiandi with three prominent speakers to discuss the impact of the emerging artificial intelligence workforce.
Chines outbound mergers and acquisitions (M&A) deal value declined to US$80.7 billion year-to-date, down 43% from US$141.6 billion during the same period last year, as the Chinese government’s efforts to curb capital outflow continue to pressure China’s outbound deal-making.
Financing of Chinese co-working space industry continues to accelerate as leading players battle for market share.
China is going cashless, no doubt. Chinese consumers spent a total of US$5.5 trillion via mobile payment platforms last year, or simply put, it was about 50 times more than their American counterparts (around US$112 billion), according to data from Forrester Research and iResearch. The credit of the country’s multi-trillion dollar mobile payment market goes to China’s third-party QR code-scanning mobile payment platforms, led by WeChat Pay and Alipay. Statistics show that from 2013 to 2016, the number of transactions …
I am frequently asked why our China Unicorn Ranking has 108 unicorns, while some Silicon Valley-based data firms have the number at 45. How do we explain the vast difference?
Autohome, a Chinese automobile sales platform backed by Li Xiang, founder of electric vehicle start-up NIO, has led a series A round worth nearly RMB100 million (US$14 million) in Sight Plus, an augmented reality solutions provider.
An investor consortium backed by Alibaba Group’s founder Jack Ma has agreed to acquire the Hong Kong and Macau operations of U.S. insurer Massachusetts Mutual Life Insurance Co., also known as MassMutual, for HK$13 billion (US$1.7 billion).