China’s Sinopec launches $1.5b investment firm to fund new energy, AI ventures


Apart from direct investment, Sinopec Capital will also set up funds to focus on technology and new industries investment

Chinese fintech firm Advance.AI secures $50m in Series B

The company’s big-data platform provides anti-fraud detection services for loan applications, among others.

HK developer Wheelock unit launches offer for Singapore subsidiary

The offer values the company at over S$2.5 billion ($1.8 billion).

Tencent-backed online education firm Koolearn files for HK IPO

The proposed listing follows three rounds of funding backed by investors including Tencent, Dragon Cloud, ChinaCity Capital, and Tigerstep.

Chinese biotech firm Ascentage Pharma secures $150m in Series C round

The company says it intends to use the funds to support its product pipeline and build R&D centres and manufacturing facilities.

Alibaba to buy minority stake in digital marketing firm Focus Media

Alibaba will acquire about 6.62 percent in Focus Media for 9.63 billion yuan ($93.8 million) and possibly another 5.0 percent stake in the next 12 months.

Chinese online tutoring startup Zuoyebang raises $350m Series D

The Coatue-led round was joined by Goldman Sachs, Sequoia Capital China, GGV Capital, Primavera Capital Group, Xiang He Capital, Tiantu Capital, New Enterprise Associates and Taihe Capital. 

China’s iQiyi snaps up game maker Skymoons in $300m deal

The deal would give iQiyi access to a broader range of stories amid a fierce battle for content with deep-pocketed rivals such as Tencent and Alibaba.

China’s CGN buys 75% in Swedish wind farm from Macquarie, others

CGN has so far acquired over 1,000 MW of wind and solar power assets in Europe

HNA-Caissa scraps asset acquisition plans, shares to resume trade

In March, the firm said it planned to buy minority stakes in Hong Kong Express Airways, Ghana’s Africa World Airlines and several other companies