Bank of China
Deal focus: National team drives Hithium towards China IPO
Government and state-owned investors accounted for most, but not all, of Xiamen Hithium Energy Storage Technology’s USD 622m Series C, underlining where China’s strategic priorities lie
China EV battery maker raises $1.5b
Svolt Energy Technology, formerly the battery manufacturing unit of Chinese automaker Great Wall Motor, has raised RMB10.28 billion ($1.5 billion) in a Series B funding round led by Bank of China Investment.
China's Miaoshou Doctor raises $231m Series F
Beijing Yuanxin Technology, operator of China-based online healthcare services platform Miaoshou Doctor, has raised RMB1.5 billion ($231 million) in Series F funding featuring Sequoia Capital China.
China petcare brand raises $31m
Chongxing, a Chinese petcare brand, has raised RMB200 million ($31 million) in a third tranche of Series B funding from Tencent Holdings, Hony Capital, HighLight Capital, Vertex Ventures China, and Meridian Capital.
China SaaS provider Xforceplus raises $200m
Chinese software-as-a-service (SaaS) provider Xforceplus has raised a $200 million round led by Silicon Valley’s Dragoneer Investment Group and Beijing-based MSA Capital.
PE-backed SciClone achieves $1.6b market cap on HK re-listing
SciClone Pharmaceuticals, a Chinese drug developer privatized by a PE consortium at a valuation of $605 million in 2017, has relisted in Hong Kong and ended its first day of trading with a market capitalization of HK$12.7 billion ($1.64 billion).
China EV maker WM Motor gets $1.7b in debt financing
Chinese electric vehicle (EV) manufacturer WM Motor has secured RMB11.5 billion ($1.78 billion) in debt from domestic banks. It follows a RMB10 billion equity funding round featuring several government investors.
China launches $12b National Green Development Fund
China has raised an initial RMB88 billion ($12.6 billion) for the first dedicated environmental fund launched by the central government.
China's Li Auto gains 43% on debut after $1.1b US IPO
Chinese electric vehicle manufacturer Li Auto closed up 43% on its first day of trading on NASDAQ following a $1.1 billion IPO.
BOC leads Series B-plus for Chinese AI player Shukun
Shukun, a Chinese start-up that develops artificial intelligence (AI) technology used in the diagnosis of cardiovascular diseases, has raised RMB200 million ($28 million) in an extended Series B round led by BOC International and CCB International.
GLP backs $1.37b take-private of Hong Kong's Li & Fung
The founders of Hong Kong-listed Li & Fung have teamed up with PE-owned warehouse operator GLP on a take-private offer that values their company at HK$10.7 billion ($1.37 billion).
PE-backed Chinese AI player Megvii files for HK IPO
Megvii Technology, best known for its Face++ platform, is set to become the first Chinese artificial intelligence (AI) company to list in Hong Kong.
China AI player Megvii raises $750m Series D
Chinese artificial intelligence (AI) developer Megvii Technology has raised $750 million in Series D funding led by Bank of China Group Investment. It brings the company’s valuation to around $4 billion.
Chinese online truck logistics platform raises $170m
Fuyoukache, a Chinese online truck logistics platform, has raised $170 million in a Series D round led by a Bank of China investment unit and Matrix Partners China. Prospect Avenue Capital also participated.
Orchid leads $70m Series E for China's SoYoung
SoYoung, a Chinese online marketplace focusing on cosmetic surgery, has raised $70 million in Series E funding led by Orchid Asia. There was additional participation from Matrix Partners China, BOC International, and the Russia-China Investment Fund (RCIF).
China Biologic Products receives competing take-private offer
US-listed China Biologic Products has received a buyout offer worth $3.9 billion from a consortium including former CEO David Gao and CDH Investments. It follows a $3.6 billion bid last month by CITIC Capital.
GLP, BOCGI invest $70m to China logistics player G7
Warehouse operator Global Logistic Properties (GLP) and Bank of China Group Investment (BOCGI), a direct investment arm of Bank of China, have committed $70 million to G7 Networks, a Chinese manufacturer of smart devices for the logistics sector.
GPs back $605m take-private of China's SciClone pharmaceuticals
CDH Investments and Ascendent Capital Partners have teamed up with GL Capital and a Bank of China investment unit in a $605 million bid for US-listed Chinese drug developer SciClone Pharmaceuticals.
Hony, CIC among anchors for BOC Aviation IPO
Hony Capital and China Investment Corporation (CIC) are among the cornerstone investors for a HK$8.7 billion ($1.1 billion) Hong Kong IPO for Bank of China’s aircraft leasing business, BOC Aviation.
Temasek generates $2.5b from China banks sell down
Temasek Holdings has sold down $2.48 billion of shares in Bank of China (BoC) and China Construction Bank (CCB). It comes less than a month after the Singapore sovereign wealth fund picked up a $2.3 billion stake in Industrial and Commercial Bank of China...
PE-backed Sunshine Oilsands prepares for Hong Kong IPO
Sunshine Oilsands, a Canadian oil exploration company backed by Hong Kong private equity firm Cross-Strait Common Development Fund as well as several Chinese state-owned enterprises, could raise up to $700 million through an IPO in Hong Kong. This implies...
CIC’s Central Huijin boosts China bank stakes
Central Huijin Investment, the unit of China Investment Corp. (CIC) responsible for holdings in the country’s major state-owned banks, has been buying shares in these lenders to boost valuations. It took similar action in September 2008 as credit markets...
Temasek reduces holdings in Bank of China, China Construction Bank
Temasek Holdings, Singapore’s second-largest sovereign wealth fund, has reduced its holdings in Bank of China and China Construction Bank in order to scale back on its financial sector exposure, raising around $3.6 billion in the process.