8KB | Alibaba Sets HK IPO Price Guidance at HK$176; Faraday Future CEO Cites Lack of Trust in Jia Yueting; Tesla China-Made Model 3 Arrives Friday
Mojo Vision
Developer of Intelligent Ophthalmic Products
Inventure
Inventure is an early-stage venture capital firm.
Privilege Ventures
Private Investment Firm Investing in Seed-Stage and Early-Stage Companies
Large Companies
Report: Alibaba Sets Hong Kong IPO Price Guidance at Around HK$176 Per Share
According to Bloomberg, Alibaba has reportedly set the indicative price for its Hong Kong initial public offering (IPO) at around HK$176 per share. On the 15th, Alibaba Group Holding Limited announced the official launch of its listing in Hong Kong. The company will be listed on the Main Board of the Stock Exchange of Hong Kong, with the stock code 9988. Alibaba will issue 500 million new ordinary shares in this offering, including 12.5 million new shares for the Hong Kong public offering, with the issue price not exceeding HK$188 per share; 487.5 million new shares will be offered internationally, and the international offering price will be determined on the 20th. (Sina Finance)
Huawei Signs Cooperation Agreement with Barcelona City Council
At the 2019 Smart City Expo World Congress (SCEWC) held in Barcelona, Spain, Huawei and the Barcelona City Council signed a letter of intent for cooperation. The two parties will collaborate on innovative projects and promote technological investment by the Barcelona City Council. The cooperation also includes leveraging Huawei’s 5G technology and smart city applications—such as intelligent data centers and fiber-optic technology—to support Barcelona’s digital transformation. (Securities Times)
DiDi to Launch Autonomous Ride-Hailing Service “Robo Taxi” in Shanghai
According to CNBC, Qie Xiaohu, head of Didi’s Intelligent Mobility Division, stated at CNBC’s “East Tech West” event held in Guangzhou, China, on the 19th that Didi will soon launch its autonomous ride-hailing service, “Robo Taxi,” in Shanghai, allowing users to access the service through the Didi Chuxing app. (Pinwan)
ZTO Express Reports Q3 Revenue of RMB 5.266 Billion, Up 24.4% Year on Year
ZTO Express Releases Q3 2019 Financial ReportAccording to the financial report, ZTO’s operating revenue in the third quarter of 2019 reached RMB 5.266 billion, a year-on-year increase of 24.4%. Adjusted net profit amounted to RMB 1.318 billion, up 24.6% from the same period last year. The company handled 3.058 billion parcels, representing a 45.9% year-on-year growth. Its market share rose by 2.3 percentage points compared to the same period last year, reaching 18.9%. Additionally, ZTO’s parcel volume totaled 3.058 billion, a 45.9% year-on-year increase, while its revenue per parcel stood at RMB 1.63, a 13.2% year-on-year decline. (International Financial News)
Tuniu’s Q3 Net Revenue Reached RMB 852.5 Million, a Year-on-Year Increase of 11.7%
Tuniu Releases Q3 2019 Financial Report: Latest figures show Tuniu’s net revenue for the third quarter reached RMB 852.5 million (USD 119.3 million), a year-on-year increase of 11.7% compared to the same period in 2018. Revenue from packaged travel products amounted to RMB 747.1 million (USD 104.5 million), representing an 18.1% increase from the same period in 2018. This growth was primarily driven by higher revenue from group tours. (Yicai)
Fintech firm PPDAI released its unaudited financial report for the third quarter of 2019, while simultaneously announcing its official rebranding as “FinVolution Group.” In the third quarter, FinVolution Group reported revenue of RMB 1.5124 billion, a year-on-year increase of 35.0%, and net profit of RMB 598.5 million, a year-on-year decrease of 7.9%. As of September 30, the company’s cumulative registered users reached 102.9 million, representing a year-on-year growth of approximately 22.5%; cumulative borrowers totaled approximately 17.4 million, a year-on-year increase of about 30%. (The Paper)
NavInfo: Huawei Procures High-Precision Map Data Products and Services from the Company
36Kr has learned that NavInfo announced it recently received an application from Huawei Technologies Co., Ltd. to purchase autonomous driving map data within the company’s specified regions. NavInfo will provide Huawei with high-precision map testing and validation services, and both parties will jointly complete Huawei’s autonomous driving validation project to accelerate the implementation of Huawei’s autonomous driving initiatives.
Auction of LeEco Tower Halted; Third Party Filing Objection May Be Tao Yun Capital
On the 18th, JD.com’s judicial auction platform showed that the public auction of LeTV Building, the headquarters of LeEco Information Technology (Beijing) Co., Ltd., had been suspended. The reason for suspension was that a third party raised an objection to the property up for auction. News received on November 19 indicated that the third party objecting to the auction of LeTV Building might be Taoyun Capital. (Jiemian)
Faraday Future CEO: Public Lacks Trust in Company’s Execution and Jia Yueting
Faraday Future CEO Carsten Breitfeld stated that the company faces two major obstacles. The first issue is the lack of trust in the company’s ability to execute its plans. The second concerns problems with the leadership of founder Jia Yueting. Breitfeld claimed that the first issue has been resolved, and Jia Yueting will now focus on enhancing the connectivity and user experience of FF vehicles, aiming to create a “third living space” for users. (Sina Finance)
SoftBank in “Advanced Talks” to Acquire KPMG’s Mayfair Club
Japanese multinational SoftBank is in “advanced negotiations” to acquire KPMG’s Mayfair Club. Last month, reports emerged that KPMG was considering closing its Mayfair Club. According to insiders, SoftBank has already outmaneuvered other interested parties for the club. As part of its cost-cutting measures this year, KPMG has recalled office phones from some employees and laid off approximately one-third of its personal assistants. Its cost-saving initiative, codenamed “Project Zebra,” aims to save £100 million. (Sina Finance)
Boeing Announces Service Orders and Agreements with Airlines and Governments in the Middle East
Boeing Announces Service Orders and Agreements with Airlines and Governments in the Middle East. Boeing Estimates the Potential Market Value for Commercial and Defense Services in the Middle East to Reach $225 Billion Over the Next Decade. (Sina Finance)
Tesla: China-made Model 3 to arrive at all stores this Friday
36Kr has learned that Tesla’s official WeChat account announced that the China-made Model 3 Standard Range Plus, equipped with the standard Autopilot feature, will be available at all stores starting November 22. Meanwhile, the China-made Model 3 Standard Range Plus will also make its debut at the Guangzhou International Automobile Exhibition, officially unveiling to the public. (Securities Times)
WM Motor Plans to Raise $1 Billion in Series D Financing Within the Next Six Months
According to CNBC, Rupert Mitchell, Chief Strategy Officer of WM Motor, stated at the CNBC East-West Conference held in Nansha District, Guangzhou, China, on Tuesday that WM Motor plans to raise $1 billion in its Series D financing round within the next six months to achieve its goal of launching one new vehicle per year. Currently, WM Motor’s second manufacturing plant is nearing completion in Hubei Province. (Pinwan)
Investment and Financing
“Lanyu Bio” Completes Nearly RMB 100 Million in Series C Funding, Led by Matrix Partners China
Nanjing Lanyu Biotechnology Co., Ltd. Announces Completion of Nearly RMB 100 Million in Series C FinancingNanjing Lanyu Biotechnology Co., Ltd. has announced the completion of its Series C financing round, raising nearly RMB 100 million. The round was led by Matrix Partners China, with Bangsheng Capital participating as a co-investor. The funds will be utilized to expand sales channels and enhance operational services, drive innovative research and development of new technologies and products, and further broaden the product portfolio, thereby strengthening customer service capabilities. Founded in 2016, Lanyu Biotechnology is an R&D-focused enterprise dedicated to the technological innovation and improvement of point-of-care testing (POCT). (PE Daily)
“Hongjiu Fruit” Completes Series C Financing, Led by CMC Capital
36Kr has learned that equity investment firm CMC Capital announced the completion of its lead investment in the RMB 500 million Series C financing round of Hongjiu Fruit, a fruit supply chain enterprise. With this move, CMC Capital has further refined its fresh produce investment portfolio within the consumer sector through its USD and RMB funds, which now includes Meicai, Dingdong Maicai, and Hongjiu Fruit. Hongjiu Fruit specializes in fruit supply chain services, directly sourcing from high-quality orchards both domestically and internationally at the upstream level, while connecting with terminal retail channels downstream, thereby establishing an “end-to-end” model covering the entire industry chain.
French Fertility Tech Company “Mojo” Secures €1.7 Million in Seed Funding
French fertility tech startup “Mojo” raises €1.7 million in seed funding to leverage AI and robotics for IVF assistance. The round was led by Nordic seed fund Inventure, with participation from Doberman and Privilege Ventures. Angel investors including former Kry CEO Josefin Landgard and BlueYard Investment Partner Hampus Jakobsson also joined the round. (TechCrunch)
New Product
Samsung and China Telecom Hold New Product Launch in Wuhan, Unveiling the “Worry-Free” W20 5G Smartphone. This device is the twelfth-generation product jointly created by Samsung and China Telecom for high-end business professionals, featuring a flexible foldable screen design. The Samsung W20 5G has a thickness of 6.9 millimeters when unfolded and a screen size of 7.3 inches. Additionally, the Samsung W20 5G is equipped with 12GB of RAM, 512GB of internal storage, and a built-in 4235mAh battery. (Sina Technology)
Image Source: Sina Technology
Xiao Ai 3.0 Released, Updating Three Major Features Including Continuous Conversation
On November 19, at the MIDC·2019 Xiaomi Developer Conference, Xiao Ai 3.0 was officially launched. The new version of Xiao Ai introduces three features: continuous conversation, a new male voice option, and a phone assistant. Xiao Ai 3.0 supports single-wake activation, enabling continuous dialogue that can be interrupted at any time. As for the phone assistant feature, Xiao Ai 3.0 can answer calls on behalf of users, transcribe call content into text, intelligently generate response suggestions, and convert these responses into speech to play back to the caller. (Zhongguancun Online)
Image source: ZOL
Other Important News
China International Commercial Space Summit Held in Wuhan on the 19th. It was learned at this commercial space summit that China’s new medium-lift launch vehicle, the Long March 8, currently under development, has entered the stage of product manufacturing, final assembly, and testing, with its maiden flight expected to take place in 2020. (CCTV News)
Hong Kong Exchanges May Consider Acquiring Spanish Exchange Group
Spain’s Cinco Días, citing sources in the financial industry, reported that Hong Kong Exchanges and Clearing Limited, the owner of the Hong Kong Stock Exchange, is considering bidding for Spain’s Bolsa y Mercados Españoles (BME) Group. (Bloomberg)
UnionPay Cracks Down on Illegal Credit Card Repayment Services, Targeting “Cash-Out Loans”
On the evening of November 18, China UnionPay’s Business Management Committee issued a document indicating that China UnionPay would begin a stringent crackdown on illicit credit card repayment services over the following two weeks. The notice, titled “Notice on Carrying Out Special Rectification Work Regarding Acquiring Institutions’ Illicit Credit Card Repayment Services,” requires acquiring institutions to conduct comprehensive inspections across all stages—including cooperation with outsourced service providers, merchant management, and transaction monitoring—to identify any illicit credit card repayment operations between November 18 and November 29. Any such activities discovered must be immediately suspended. (Jiemian)
Nielsen: China Consumer Trend Index Remains High in Q3
Nielsen’s “Q3 2019 China Consumer Trend Index Report,” released on the 19th, showed that the China Consumer Trend Index stood at 114 points in the third quarter, remaining at a high level. All three components comprising the index demonstrated steady progress during the quarter. The employment expectations index reached 78 points, up by one point from the previous quarter. The personal financial situation index and the consumer willingness index remained largely unchanged from the previous quarter, at 70 and 61 points, respectively. (China Securities Network)
10 Companies Spin Off Subsidiaries for IPOs; More Spin-Off Listings Expected in the Future
According to incomplete statistics, as of November 19, ten companies had successfully spun off their subsidiaries for listing on either the Hong Kong Stock Exchange or the A-share market. Although the number of domestic spin-off listings is expected to increase in the future, the proportion of enterprises meeting the requirements for spin-off listings remains small relative to the total number of A-share listed companies. According to industry insiders, currently there are nearly 100 A-share listed companies that simultaneously meet these criteria, primarily consisting of large state-owned enterprises and diversified large private enterprises. (Securities Daily)
China’s First Lab-Grown Cultured Meat Is Born: 5 Grams Produced from Stem Cells in 20 Days
On November 18, the National Meat Research Center at Nanjing Agricultural University announced the birth of China’s first cultivated meat. The 5-gram sample was produced over 20 days using sixth-generation porcine muscle stem cells, developed by a team led by Professor Zhou Guanghong. (Securities Times)