Chinese conglomerate Fosun International says it has completed the acquisition of a 92.6% stake of Australian independent upstream oil and gas firm Roc Oil Company Limited (ROC) for US$383 million (A$439 million), according to a company announcement. The deal was first announced in August. Fosun says it plans to conduct a comprehensive strategic review of […]

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Chinese conglomerate Fosun International says it has completed the acquisition of a 92.6% stake of Australian independent upstream oil and gas firm Roc Oil Company Limited (ROC) for US$383 million (A$439 million), according to a company announcement. The deal was first announced in August. Fosun says it plans to conduct a comprehensive strategic review of […]

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Hong Kong-headquartered solar park developer Sky Solar Holdings, Ltd., backed by IDG-ACCEL China Capital, has cut the size of its planned NASDAQ IPO by almost two-thirds to around US$44 million from a previous target of over US$150 million, according to a revised securities filing. The company is now offering 5.5 million American Depository Shares (ADS) at […]

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Bangkok, Thailand-based luxury resort operator Soneva Holdings Pte Ltd. says that Sailing Capital Management, a private equity firm controlled by the Shanghai International Group (SIG), has agreed to invest an undisclosed amount in the company, according to a company announcement. After the completion of the deal, Sailing will become a significant investor in Soneva. It […]

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Beijing-based online art trading platform Hihey.com has received undisclosed series B round of financing from CITIC Securities and Shenzhen Capital Group Co., Ltd., according to a company announcement. The round values the art trading website at close to US$100 million. The company previously received undisclosed amount series A investment from Minsheng Banking Corp. Launched in […]

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Shanghai-based Chinese rental car company eHi Car Services Limited is planning to proceed with its delayed U.S. IPO on the New York Stock Exchange despite fraud allegations, according to a company announcement. The company's shares were initially planned to start trading last Friday, but was postponed because of concerns that the company had potentially misrepresented […]

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Russia’s de facto recognition of the elections held by separatists in the Ukrainian cities of Donetsk and Luhansk signals its intention to create a frozen conflict in the Donbas region's rebel-controlled areas. The question is why Russian President Vladimir Putin views such a conflict as a positive outcome for his country.

Chinese cosmetics B2C e-commerce website Jumei.com has formed a strategic partnership with Beijing Daily Group for logistics, distribution, e-commerce, and big data analysis. Financial terms of the deal were not announced. A representative from Beijing Daily Group said that by integrating duplicated third-party logistics resources, Jumei.com realizes a self-built distribution system with light assets, which […]

Growth remains in double digits despite slowdown

Beijing-based Chinese oncology research and development firm BeiGene (Beijing), Co., Ltd. has completed a new round of financing worth RMB450 million (US$75 million), according to a company announcement. The round includes initial angel and strategic investors, as well as new investors Hillhouse Capital and CITIC Private Equity (CITIC PE), the private equity arm of CITIC […]

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Region looks to see if Beijing will take up the slack as west withdraws from Afghanistan, says Ahmed Rashid

Zhengzhou City, Henan province-based Chinese smart meter maker Suntront Technology Co., Ltd. says it plans to jointly establish an investment fund with First Capital Investment Management to invest in the technology sector, according to a securities filing. The fund will target to raise a total of RMB500 million (US$81.6 million). Shenzhen-listed Suntront Technology and First […]

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In recent months, the tightening of regulations and monitoring of shadow banking and banks' off-balance sheet are causing shadow banking credit in China to shrink, and pushing new credit creation more towards new bank loans and bonds, says a research report issued by UBS AG. In an important shift in China's configuration of credit supply, […]

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Beijing-based financial services firm Harvest Capital Co., Ltd. has raised RMB2 billion (US$330 million) for two new funds, increasing its total asset-under-management to RMB8 billion (US$1.31 billion), according to Chinese media reports. Representatives of Harvest Capital did not respond to request for confirmation of the news. According to the reports, one fund is a mezzanine […]

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Due to the fast sales of Apple's new products, Hon Hai achieved combined operating revenue of NTD468.999 billion, which was about CNY94 billion, in October 2014, representing a year-on-year increase of 22.58% and an increase of 12.9% compared with September 2014. Hon Hai revealed that its combined operating revenue in October 2014 was the second […]

Chinese smartphone maker Xiaomi announced that the company plans to invest USD10 million to purchase shares of Youku-Tudou from the secondary market, which will enable the playing of Youku-Tudou contents on Xiaomi devices. Xiaomi will also buy Youku-Tudou shares from the open market. The two parties will make a joint investment of an unknown sum […]