The Chinese conglomerate has been investing in financial services
China’s Zhonghong Zhuoye Group Co. agreed to acquire a 21 percent stake in SeaWorld Entertainment Inc. from Blackstone Group LP, becoming the embattled U.S. theme-park operator’s largest shareholder. The Asian leisure and tourism holding company will pay Blackstone $23 a share, or about $448.5 million based on shares held at the… Read more »
Baidu Inc. plans to double its footprint in Silicon Valley with a second research and development facility, seeking to gain an edge in artificial intelligence technology. China’s largest search engine provider will add capacity for 150 employees, the company said Friday in a statement. Baidu has about 200 people at its… Read more »
Chinese photo app owner and mobile phone maker Meitu Inc’s netloss last year was down by 24 percent, the company reported on Friday, in its first results since its shares made their market debut in Hong Kong in December. The company, which is known for the eponymous app‘s selfie image-enhancing… Read more »
The sudden crash wiped out about $4.1 billion in market value.
C-Bridge Capital and Tasly Holdings have invested $150 million in backing a merger of pharmaceutical firms in China. Meanwhile, Dadao Financial has closed a $29 million Series B round. C-Bridge Capital & Tasly Holdings invest $150m to back pharma merger C-Bridge Capital Partners LLC, a private equity (PE) fund targeting… Read more »
It is backed by Legend Capital and GSR Ventures.
It may spin off the pipelines into an independent company as soon as this year
Taiwanese media platform The News Lens (TNL) has closed a Series B round led by Hong Kong’s Wiskey Capital.
Guangzhou Industrial Investment Fund Management Company (Guangzhou Fund), China Reform Holdings Co., Ltd and Shanghai Pudong Development Bank Co. Ltd. have jointly established an RMB150 billion (US$21.7 billion) investment fund. geared to invest and support reforms of state-owned enterprises. According to details announced, this new is fund geared towards financially supporting reforms… Read more »