China’s Lenovo Capital and Incubator Group have made an undisclosed strategic investment in a virtual reality content production start-up SoReal, which is backed by acclaimed Chinese director Zhang Yimou. “Augmented reality, virtual reality and mixed reality will be the next great technology changing the world, after the Internet and mobile Internet,” says Yang Yuanqing, chief […]
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Behind Ang Lee’s new film “Billy Lynn’s Long Halftime Walk” is an emerging movie powerhouse from China: the Fosun Group. Two of the film’s producers, Studio 8 and Bona Film Group, count the Chinese conglomerate as a shareholder. Aside from providing capital to the movie, Fosun was instrumental in working with the film’s production team […]
Family offices in Asia Pacific saw a stronger performance in 2016 with a 3.9% gain year-to-date, following a flat 2015 where family offices’ portfolio value remained unchanged, according to a report issued by UBS AG and Campden Wealth Research. Asia Pacific family offices hold relatively higher proportions of direct venture capital and private equity assets, […]
Four of China’s largest Internet companies, including Alibaba, Tencent, Baidu and JD.com, are set to record a lower amount of investment in the U.S. this year, after a record year in 2015, according to CB Insights data. The companies, as well as Alibaba’s financial services affiliate Ant Financial, struck 14 deals with US$1.8 billion in […]
EZParking, a Chinese big data start-up focused on facilitating smart car parking, has completed a RMB90 million (US$13.3 million) new funding round led by Hangzhou-based agricultural material and trading company, ZJAMP Holding Group. The Shanghai-based start-up says it plans to use the proceeds to improve its data mining technology, focus on customer services, as well […]
China’s venture capital and private equity markets cooled further in October, with 197 deals and US$2.3 billion in total deal value recorded in the month, reaching a new low in nearly one year, according to data from ChinaVenture. There were 148 venture deals inked with US$1.6 billion in total deal value, down 24% and 53% […]
During the past two weeks, Chinese Internet and technology company LeEco has been hit with multiple negative news. It was late in paying its smartphone suppliers and a construction contractor tasked to build its smart vehicle factory in Nevada. It has also incurred massive delays in smartphone shipment. As a result, the company’s stocks plummeted […]
China International Capital Corporation Ltd. (CICC) has agreed to acquire the entire equity interest in Central Huijin Investment Ltd’s securities business for RMB16.7 billion (US$2.5 billion), the firm said today. CICC, which counts Central Huijin as a substantial shareholder, will issue its domestic shares to Huijin as payment, in exchange for taking over China Investment […]
China’s research and development of autonomous driving technology is about two years behind the most advanced peers globally, says Wu Gansha, co-founder of self-driving vehicle start-up Uisee Technology (Beijing) Ltd. and a former director of Intel Labs China. China began research of autonomous driving vehicles 20 years ago. Efforts on commercialization of the technology commenced […]
Chinese food ordering mobile app Ele.me, backed by Alibaba Group Holding Ltd. and other venture investors, has decided to remove food containing dog meat, shark fins and bear paws from its platform, citing food safety and animal protection concerns. The Shanghai-based start-up said that it terminated 294 merchants selling dog meat products and removed 7,733 […]