Focus on the frontier of capital and gain insight into consumer trends.
Author |Tide Watching Research Institute.
* |Tidesight (ID: Tidesight).
Focus on December
A total of 78 financing events occurred in the consumer market, with a disclosed financing amount of about 34.4 billion yuan, and the average financing amount in the automobile transportation field was the highest, including 2 financing events of 10 billion yuan, and a total of 15 acquisition events with an average amount of 5A total of 21 companies with 8.1 billion yuan have entered the listing stage, 10 have been publicly traded, and 4 are in the preparation stage In December 2023, a total of 78 financing events occurred in the large consumer market, a decrease of 10 cases from November. There were 20 cases in which the amount of financing was not disclosed, and the total amount of the remaining financing amounted to about 34.4 billion yuan, an increase of about two times from 17.1 billion yuan in the previous month.
From the comprehensive level, the market activity in December was not as good as in November, and some tracks that were active in November, such as catering, travel and entertainment, and other tracks, saw a decrease in the number of investment and financing events, and there were no investment and financing events in the pet and clothing shoes and hats track in December.
Excluding the investment and financing events with undisclosed amounts, there were 8 investment and financing events in the field of automobile transportation in December, with an average financing amount of 40600 million yuan. The track contains two huge financing events, namely the US$2.2 billion strategic financing obtained by NIO from CYVN Holdings on December 18 and the capital increase of 12 billion yuan to Sichuan Airlines revealed in the announcement of several companies on December 27.
Although there are only two investment and financing events in the field of travel and entertainment, the average financing amount is second only to the automobile transportation field, which is about 1.4 billion yuan. This includes a 2The US$100 million funding round was completed on 7 December by travel experience booking platform Klook with investors from Bessemer Venture Partners, Baring Private Equity Asia, Atinum Investment, Golden Vision Capital, Kasikorn Bank and Ayutthaya Bank.
From the perspective of transaction amount, tens of millions of dollars are still the main force of investment and financing, with a total of 31 cases, accounting for about 40%, which is basically the same as in November. The number of billion-level investment and financing events decreased from 4 in November to 1 in December, and the proportion decreased from 5% in November to 1%. However, it is worth mentioning that in December, the targets were two tens of billions of investment and financing events for NIO and Sichuan Airlines.
In December 2023, the rounds of investment and financing events in the large consumption sector are still dominated by early-stage financing, of which there were 38 rounds of Series A and previous rounds, accounting for 487%。Compared with November, the number of investment and financing events in the middle and late stages of December was still small, but a total of 3 cornerstone rounds of financing were generated, which were born in the automobile transportation, intelligent technology, and food and beverage tracks, and all three companies were successfully listed in December.
Snacks are very busy The group has been so much miss you, Yanjin shop co-invested 10500 million yuan On December 18, I miss you, Yanjin Shop Holdings, Snacks are busy, and Zhao Yiming Snacks jointly signed a strategic cooperation investment agreement in Changsha, Hunan, and I miss you and Yanjin Shop Holdings invested 700 million yuan and 3500 million yuan, snacks are busy group newly obtained 10RMB 500 million investment.
According to Yan Zhou, chairman of the Snack Group, this round of financing will be mainly used for the first-chain warehousing construction, commodity upgrading, digital development, market development and brand building of the Snack Group.
Not long ago, on November 10, the two major brands of mass merchandising snacks, Snacks are busy and Zhao Yiming snacks officially announced a strategic merger to form a new "Snack Busy Group". After the merger, the two companies will remain the same in terms of personnel structure, and will retain their respective brands and businesses to operate independently.
On December 19, Xiaocaiyuan announced the completion of a new round of financing, and the investor is Jiahua Capital, which is following the completion of the first round of financing in March 2023, Jiahua Capital has once again pursued Xiaocaiyuan, with a cumulative investment of 500 million yuan in two rounds, which is also the largest financing in the mass convenience catering market in recent years.
Li Daoqing, general manager of Xiaocaiyuan, said that part of the funds will be used for store expansion, and the rest will be used to build the back-end of the enterprise, that is, the first chain and digital construction.
Founded in June 2013, Xiaocaiyuan is positioned as a fashionable chain restaurant of new Hui cuisine. At present, Xiaocaiyuan has opened more than 500 directly-operated stores in 118 cities across the country.
Autonomous driving heavy truck company Carl Power received strategic investment from HorizonOn December 11, Carl Power, an autonomous driving heavy truck company incubated by Didi Autonomous Driving, has received a strategic investment from Horizon. In the future, the two parties will promote technical cooperation and commercial cooperation on high-performance autonomous driving domain controllers, and accelerate the large-scale unmanned commercialization of Carl Power's intelligent formation system in the field of trunk logistics.
In October 2023, Karl Power will operate independently from Kargobot, Didi's autonomous driving freight business, and obtain more than 4500 million yuan investment.
On the evening of December 27, China Southern Airlines and Shandong Airlines B3 announced simultaneously that the board of directors deliberated and approved the proposal of Sichuan Airlines to increase its capital (hereinafter referred to as Sichuan Airlines). Among them, China Southern Airlines plans to increase its capital by 46800 million yuan, Shandong Airlines B3 plans to increase its capital by 1.2 billion yuan.
In addition to the proposal of China Eastern Airlines on December 14 to increase the capital of Sichuan Airlines by 1.2 billion yuan, Sichuan Airlines will receive a total of 70A capital increase of 800 million yuan. It is worth mentioning that the three airlines mentioned that the capital increase is the same proportion of capital increase for the shareholders of Sichuan Airlines, and the corresponding equity ratios (China Southern Airlines holds 39% of the shares, China Eastern Airlines holds 10% of the shares, and Shandong Airlines B3 holds 10% of the shares), and all shareholders will increase the capital of Sichuan Airlines by a total of 12 billion yuan.
In December 2023, there were 15 acquisitions in the large consumer market.
On the evening of December 15, New Hope announced that it intends to give 51% of the equity of its subsidiary Zhongxin Food to China Animal Husbandry Group, with a total transaction amount of 2.7 billion yuan. If the transaction is completed, China Animal Husbandry Group will become the controlling shareholder of Zhongxin Food.
New Hope said that the company took the initiative to adjust its development strategy and industrial structure, and focused more on the two core businesses of feed and pig breedingAt the same time, it will combine the excellent industrial resources of the industry to jointly help the development of the white feather meat and poultry business, and this transaction will be conducive to the further enhancement of the core competitiveness of the white feather meat and poultry business.
China Resources Pharmaceutical intends to acquire part of the interests in China Resources Jiangzhong, China Resources Pharmaceutical announced that on December 24, 2023, China Resources Pharmaceutical Holdings (a wholly-owned subsidiary of the Company) and Jiangxi State-owned Capital Operation Holding (as the buyer) entered into an equity transfer agreement with the seller (Xinhai Runda), pursuant to which the seller has agreed to transfer through a non-public agreement on the Jiangxi Equity Exchange**China Resources Jiangzhong has a total of 144,412% interest, of which China Resources Pharmaceutical Holdings and Jiangxi State-owned Capital Operation Holding have respectively agreed to purchase China Resources Jiangzhong 92138% and 52274% interest.
Through the proposed acquisition by CR Pharmaceutical Holdings, the Company will be able to effectively strengthen its control over CR Jiangzhong in terms of equity and corporate governance, which is expected to further support the long-term development of CR Jiangzhong and its subsidiaries.
On December 12, according to capital market news, China's fast fashion company Shein has negotiated with the London ** Exchange on the possibility of listing in the United Kingdom.
It is reported that in November, SHEIN had secretly submitted a listing application in the United States. However, according to a number of ** reports, SHEIN's IPO in the United States has been blocked, and if Shein continues to list in New York, it will become one of the largest IPOs in the past 10 years.
After the failure of the first two prospectuses, on December 17, the enterprise service e-commerce platform ZBJ.com submitted the third report to the Hong Kong Stock Exchange, with CITIC ** and CCB International as the joint sponsors. In order to go to the capital market, ZBJ.com has been planning for more than 10 years.
The Company provides customized enterprise service e-commerce platforms. According to the prospectus, in 2020, 2021, 2022 and the first half of 2023, the company's revenue will be 75.7 billion yuan, 76.8 billion yuan, 54.1 billion yuan, 25.2 billion yuan;During the same period, the company's losses during the year were 26.9 billion yuan, 36.7 billion yuan, 2300 million yuan, 07.8 billion yuan.
In December 2023, a total of 21 large consumer companies have entered the listing stage, 10 have been publicly traded, and 4 are in the preparation stage.
Junlebao officially launched the A-share IPO process On December 28, the Hebei Securities Regulatory Bureau** disclosed the "Report on the Initial Public Offering and Listing Guidance of Junlebao Dairy Group Shares" issued by CICC, and the announcement showed that Junlebao Counseling Institution was China International Capital Corporation *** The date of signing the agreement is December 22, 2023.
It is worth mentioning that half a month ago, Junlebao just completed the share restructuring, and the registered capital was changed from the original 622160,000 yuan increased to 7200 million yuan, and at the same time, the business scope has added the production of formula food for special medical purposes.
According to the information on the official website, Junlebao was established in 1995, and its business scope includes infant milk powder, yogurt, low-temperature fresh milk, normal temperature liquid milk and dairy cow breeding, animal husbandry, grass industry and other sectors, and has built 25 production plants and 25 modern large-scale pastures in Hebei, Henan, Jiangsu, Jilin and other places.
Baijia Akuan Food withdraws its listing application On December 19, Sichuan Baijia Akuan Food Industry Co., Ltd. *** referred to as "Akuan Food") and the sponsor applied to withdraw the issuance of listing application documents, and the Shenzhen Stock Exchange decided to terminate the review of its initial public offering** and listing on the main board. Akuan Food said that the withdrawal of the listing application was based on the company's strategic development plan.
According to the latest prospectus, in 2020, 2021 and 2022, Akuan Food's operating income will be about 111 billion yuan, 121.4 billion and 124.6 billion yuan;In the same period, the net profit was 7607830,000 yuan, 5584190,000 yuan and 6834420,000 yuan. In addition to operating its own brand, Akuan Food also provides OEM services for customers such as Three Squirrels, Ma Liuji, Baicaowei, Li Ziqi, and NetEase Yanxuan.
Publicly traded business aggregates
Jin Jiang Shipping. On December 5, Shanghai Jinjiang Shipping (Group) Co., Ltd. was listed on the main board of the Shanghai Stock Exchange. The stock opened at 16$73, up to $1958 yuan, as of ** reported 1784 yuan, an increase of 5858%, with a turnover of 234.2 billion yuan, amplitude 2960% and a turnover rate of 6926%, with a total market capitalization of 2308.7 billion yuan. Jin Jiang Shipping is a comprehensive shipping company, mainly engaged in international and domestic maritime container transportation business, and has been deeply engaged in Northeast Asia, Southeast Asia and domestic routes for many years.
House of Swallows. On December 12, Yanzhiwu struck the gong on the Hong Kong Stock Exchange and became the "first bird's nest stock" in China. Yanzhiwu offered **32 million shares globally, 12.8 million shares in Hong Kong and 19.2 million shares internationally, with a final offer price of 9HK$7 shares. Worldwide proceeds of approximately 3HK$100 million, net of the estimated listing fee payable, the net proceeds worldwide were approximately HK$2HK$5.6 billion. Huang Jian, Chairman of Yanzhiwu, said at the listing ceremony that in the future, Yanzhiwu will continue to upgrade its R&D capabilities and devote itself to intelligent manufacturing, while expanding its product portfolio, paying attention to consumer needs, and exploring various strategic cooperation to help the growth of China's bird's nest market.
Wuxi Jinghai. On December 12, Wuxi Jinghai, an amino acid manufacturer, made an initial public offering** and was successfully listed on the Beijing ** Stock Exchange. As of the morning of the same day**, Wuxi Jinghai (836547BJ) rose 8197% at 3008 yuan, with a turnover of 33.5 billion yuan, with a total market capitalization of 187.7 billion yuan. Founded in 1995, Wuxi Jinghai is one of the largest amino acid production enterprises in China, mainly producing various injection-grade, pharmaceutical-grade and food-grade amino acid products.
Zhenkun line. On December 15, 2023, ZKH Group Limited (hereinafter referred to as "Zhenkun Group", *ZKH) was listed on the New York Stock Exchange. A total of 4 million American Depositary Deposits** (ADS) shares were issued in the IPO at an issue price of 15 per ADS$50, with a maximum fundraising of $71.3 million. Zhenkun Xing Group is a storage enterprise in the "Shanghai Restructuring and Listing Cultivation Enterprise Library".
Sobao protein. On December 15, Sobao Protein (603231SH) was listed on the main board of the Shanghai ** Stock Exchange and issued 4786480,000 shares at an issue price of 2129 yuan. According to public information, Suobao Protein has been deeply involved in the soybean protein industry in recent years, continued to develop high-quality customers, improved product competitiveness, and greatly increased revenue scale and profitability. From 2020 to 2022, the growth rate of operating income will reach respectively. 44%, and the growth rate of net profit attributable to the parent company was respectively. 57%。
Zhixing Technology. On December 20, autonomous driving solution provider Zhixing Automotive Technology (1274HK) was officially listed on the Hong Kong Stock Exchange, which also means that it has officially become the "first stock of autonomous driving" in Hong Kong stocks. In this IPO, Zhixing Technology plans to issue 221160,000 H shares, of which 10% will be offered to the public in Hong Kong and 90% will be offered internationally, at an issue price of 29. per shareHK$65.
Fanyuan International. On December 22, the cross-border logistics company Fanyuan International successfully landed on the Hong Kong Stock Exchange. According to the prospectus, Fanyuan International intends to offer 1400 million shares, 10% in Hong Kong public offering, 90% in placing, and 15% over-allotment. The offer price is 0HK$9, with a net global offering of HK$66.89 million. As a cross-border e-commerce logistics service provider, Fanyuan International mainly provides end-to-end cross-border logistics services. Fanyuan International is mainly located in the Americas and Europe, and its service scope covers more than 220 countries and regions around the world.
Lancang ancient tea. On December 22, the first share of Pu'er tea IPO - Lancang Ancient Tea (6911.).HK) was officially listed on the main board of the Hong Kong Stock Exchange at an issue price of 10HK$70 shares, with 21,000,000 shares for sale. It is understood that Lancang Ancient Tea Co., Ltd. is one of the very few tea companies in China that has experience in raw material management, product development, production, end customer reach and member services, and is a national key leading enterprise in agricultural industrialization, and is the third largest Pu'er tea company in China in terms of revenue. The products are mainly Pu'er tea, covering black tea, white tea and flavored tea.
Chenyi Intelligence. On December 28, Guangdong Chenyi Intelligent Technology Co., Ltd. (hereinafter referred to as "Chenyi Intelligent") successfully landed on the GEM of the Shenzhen Stock Exchange. According to public information, Chen Yi Intelligent is engaged in the design, production and sales of intelligent remote controls, and the application scenarios of the products include TVs, set-top boxes, projectors, conference systems, etc. In recent years, it has stood out in the slightly sluggish TV market, and its performance has continued to grow steadily, with the company's revenue from 2020 to 2022 increasing from 45.4 billion yuan increased to 74.4 billion yuan, and the net profit attributable to shareholders increased from 6057360,000 yuan increased to 8864350,000 yuan.
UBTECH. On December 29, UBTECH, a humanoid robot company, was officially listed on the main board of the Hong Kong Stock Exchange. It is understood that from 2020 to the first half of 2023, UBTECH's R&D investment accounted for 56 percent of total revenue5%。Since its establishment in 2012, the company has always focused on the research and development of core technologies of humanoid robots, and has laid out full-stack core technologies such as robot motion planning and control, servo drives, computer vision and voice interaction, SLAM and autonomous navigation technology, visual servo operation and human-computer interaction, and robot operating system application framework ROSA, with more than 1,800 related patents.
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