China’s e-commerce giant Alibaba Group Holding will invest RMB4.5 billion (US$717.2 million) in Huitongda Network Co., an e-commerce platform serving rural consumers, in a bid to expand its sales outside major cities.
China’s Shopping Spree For UK Healthcare Assets Continues With DNAFit Deal
Alibaba-backed genetic testing and digital health company Prenetics has acquired UK-based consumer genetic testing firm DNAFit, the latest in a series of Chinese investments in U.K healthcare assets.
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.
Tencent Looking To Acquire $485M Stake In Chinese Bullet Train WiFi Operator
Chinese social media giant Tencent Holdings will bid for a stake in the company that provides WiFi services on China’s bullet trains in a deal worth more than RMB3.05 billion (US$485 million).
Tencent, Changan Automobile Launch Connected Vehicle Platform Joint Venture
Chinese Internet giant Tencent Holdings Ltd. has set up a joint venture with Chinese automobile manufacturer Changan Automobile Co., Ltd. to co-develop autonomous driving technologies and connected vehicle platforms.
WeWork, Naked Hub Announce Merger To Build One-Million Member Asian Co-Working Giant By 2021
Co-working space operators WeWork China and naked Hub today announced a deal to join forces to build a community with one million members by the end of 2021, in the biggest deal for WeWork and the biggest deal for the co-working sector in Asia.
HNA’s Tianjin Tianhai Buying Dangdang E-commerce For $1.2B Despite Debt Woes
Tianjin Tianhai Investment Co., Ltd., the investment vehicle of Chinese conglomerate HNA Group, best known for acquiring American company Ingram Micro in 2016, is acquiring the assets of e-commerce platform Dangdang for RMB7.5 billion (US$1.2 billion).
Chinese Orthopaedic Implant Maker AK Medical Buys Britain’s JRI Orthopaedics For $24M
Chinese orthopaedic implant company AK Medical Holdings Limited has announced the acquisition of JRI Orthopaedics Limited, a U.K. firm that designs, manufactures and supplies orthopaedic implants and related instruments, from Orthopaedic Research UK for £16.73 million (US$23.7 million).
WeWork China To Acquire Chinese Co-Working Firm Naked Hub For $400M
Global co-working giant WeWork’s China unit is reportedly buying Chinese shared office space startup naked Hub for US$400 million according to sources close to the deal.
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.
Meituan Confirms $3.7B Mobike Acquisition To Strengthen Its Mobility Offerings
Wang Xing, CEO of Chinese group-buying and location-based services firm Meituan Dianping, has confirmed Meituan’s acquisition of bike sharing firm Mobike in an internal letter reported by local media.
Meituan Dianping Rumored To Buy Chinese Bike Sharing Firm Mobike For $3.7B
Chinese group-buying and location-based services firm Meituan Dianping is reportedly in talks to buy bike sharing firm Mobike for US$3.7 billion, according to Chinese media reports citing insiders. Both Meituan and Mobike did not respond inquiries from China Money Network to confirm the news. Insiders say that the two parties are likely to announce the deal soon, but the talks could still fall apart. Last month, Meituan was reportedly leading a new financing round in Mobike. Meituan is rumored to …
Softbank Vision Fund Teams Up With China’s GCL System To Set Up Solar Joint Venture In India
GCL System Integration Technology Co., LTD (SZ: 002506), a subsidiary of Chinese clean energy conglomerate GCL, announced that it has signed a memorandum of understanding with Softbank Vision Fund to set up a solar joint venture in India.
Alibaba To Acquire Chinese Food Delivery Firm Ele.me At $9.5B Valuation
Chinese tech giant Alibaba Group has announced that it will acquire all outstanding shares that it does not already own in online food delivery company Ele.me, in a deal valuing the target company at US$9.5 billion.
Foxconn Buys US Consumer Electronics Manufacturer Belkin International For $866M
A subsidiary of Taiwanese consumer electronics firm Hon Hai Precision Industry Co., or Foxconn, announced that it has agreed to acquire Belkin International, Inc., an American manufacturer of consumer electronics that specializes in connectivity devices, for approximately US$866 million in cash.
Didi Chuxing Invests In Chinese Car Rental Service Yestock
China’s largest car-hailing firm Didi Chuxing has invested in Shenzhen-based Yestock Car Rental Company Limited to become an "important shareholder," according to Yestock’s announcement.
Ant Financial Invests $185M In Parkistan’s Telenor Microfinance Bank
Alibaba’s financial affiliate Ant Financial Services Group has reached a strategic partnership with Norwegian telecommunications company Telenor Group to invest US$184.5 million for a 45% stake in Telenor Microfinance Bank (TMB), a microfinance bank in Pakistan and a subsidiary of Telenor Group.
China Co-working Space Ucommune Buys Rival Woo Space, Increases Valuation To $1.7B
China co-working space UrWork (Beijing) Venture Investment Co. Ltd., also known as Ucommune, announced that it has completed its acquisition of China’s Woo Space. The company’s valuation now stands at US$1.7 billion, the company said.
Huya Gets $461M As Tencent Bets On Rival Chinese Live-streaming Platforms
Chinese live-streaming platform Huya has raised a US$461.6 million series B round of financing led by Chinese Internet giant Tencent. It marks Tencent’s second major investment in the live-streaming market within 24 hours.
China’s CNHTC Halts Investment In US Electric Motor Maker UQM Due To CFIUS Trouble
CNHTC, the parent company of Chinese heavy-duty commercial vehicle manufacturer Sinotruk (Hong Kong) Limited, and UQM Technologies, a Colorado-based developer and manufacturer of electric motors, have withdrawn their application for investment approval to the Committee on Foreign Investment in the United States (CFIUS), the companies said.
China’s Qingdao Doublestar Buys Control Of South Korea’s Kumho Tire For $597M
China’s Qingdao Doublestar Co. Ltd. has agreed to invest 646.3 billion won (US$597.4 million) for a 45 percent stake in South Korea’s Kumho Tire Co. Inc. According to a statement filed with the Shenzhen stock exchange, a unit of its controlling shareholder, Doublestar Group, will buy 129.3 million ordinary shares in Kumho Tire, becoming the controlling shareholder in the troubled South Korean tire maker. The deal, which follows months of on-again, off-again negotiations, will likely face stiff opposition from Korean …
Chinese Media Firms Jiemian, Cailian Press To Merge, Creating Financial Information Giant
Chinese media firms Jiemian and Cailian Press have merged to create a powerful financial news and information giant in the media intelligence and data space in China, the companies announced today.
Tencent In Talks To Invest In China Resources Vanguard As Retail War With Alibaba Intensifies
Chinese social networking and gaming giant Tencent Holdings Ltd. is in talks with state-owned China Resources Group about potentially taking a stake in its retail franchise business, China Resources Vanguard.
Alibaba Rumored To Buy Food Delivery Firm Ele.me For $9.5B
Chinese tech giant Alibaba Group is reported to have inked a deal to buy food delivery service Ele.me in what is seen as a major step towards reinforcing its position in the on-demand local services market in a deal worth around US$9.5 billion.
China Automaker Geely Becomes Biggest Shareholder Of Daimler, Seeks Tech Alliance
Chinese car maker Zhejiang Geely Holding Group Co. has built up a 9.7% stake in Daimler AG, the parent company of Mercedes-Benz, in a move that seeks to establish a technology alliance between the Chinese and German automakers.
Tencent, JD.Com To Invest $257M In Chinese Retail Chain Better Life In Continued Offensive To Alibaba
Tencent Holdings Ltd. and JD.com Inc. plan to invest US$140 million and US$117 million respectively for minority stakes in Chinese retail chain Better Life Commercial Chain Share Co., Ltd., in the latest transaction after a string of deals in the retail and e-commerce sector for the pair.
Chinese Mobile Social Firm Momo To Acquire VC-Backed Dating App Tantan For Over $700M
Momo Inc., a NASDAQ-listed Chinese mobile social networking platform, today announced that it has agreed to acquire Chinese dating app Tantan Ltd. for US$600.9 million in cash and around 5.3 million newly issued class A ordinary shares.
Fosun Buys Majority Stake Of French Luxury Brand Lanvin
Chinese conglomerate Fosun International Ltd. and its subsidiaries have announced the acquisition of a controlling stake in Jeanne Lanvin SAS, the oldest luxury couture house in France still in existence.
Ant Financial To Invest $31.5M In Chinese Smart Parking Firm
A unit of Ant Financial Services Group has agreed to invest RMB200 million (US$31.5 million) in a Chinese smart parking company to jointly expand and accelerate the deployment of smart parking operations throughout China.
Alibaba To Invest $865 Million In Chinese Home Improvement Chain Easyhome
Alibaba Group Holding Ltd. will invest around RMB5.45 billion (US$865 million) for a 15% strategic stake in Beijing Easyhome Furnishing Chain Store Group Co., Ltd. as part of its "New Retail" business model, the company announced Sunday.
Tencent Injects $474M In Chinese Gaming Firm Shanda Games
Tencent Holdings Ltd. said it plans to invest RMB3 billion (US$474 million) in Chinese online gaming firm Shanda Games in exchange for an undisclosed stake in the target company, according to an official announcement.