Xiaomi Sees Weak IPO Debut In Hong Kong

Chinese smartphone maker Xiaomi had a soft debut at the Hong Kong Stock Exchange this morning as shares began trading at HK$16.6, 2.4% below its listing price (HK$17) which was already at the bottom of the range.

2017 In Review: China Leads World After Minting 22 New Unicorns Worth $37.3B

China continued to be a breeding ground for tech unicorns in 2017, with 22 private companies receiving a valuation of US$1 billion or more for the first time. The 2017 vintage unicorns boast a total valuation of US$37.3 billion, accounting for more than a third of the total newborn unicorns worldwide, and 38% in terms of valuation, China Money Network‘s data shows.

Tencent Leads $400M Round In Chinese Robot Maker Ubtech At $4B Valuation

Chinese humanoid robot maker Ubtech Robotics is raising a US$400 million series C round led by tech giant Tencent Holdings Ltd. with participation from investors whose identities are unknown at this moment. The Shenzhen-headquartered company has been raising this round at least from six months ago, and the final numbers may still change, according to people familiar with the matter.

51Job To Buy 60% Stake In Online Recruitment Platform Lagou.com For $120M

Beijing-based online recruitment platform Lagou.com has signed an agreement to raise US$120 million from strategic investor 51job, Inc., a Chinese human resources service provider listed on the NASDAQ. Following the transaction, 51job will hold a 60% shares in Lagou.com, becoming its largest shareholder, according to a statement posted on 51job’s WeChat account and a release issued by 51job.