China Digest: Ironfish invests in Juwai.com; HCC picks 70% in Jiande Hexu for $73m

Photo: REUTERS/JASON LEE

Australia’s Ironfish has made a strategic investment in Chinese international real estate platform Juwai.com, while Hospital Corporation of China has acquired a 70 per cent stake in Jiande Hexu Enterprise Management.

Ironfish invests in China’s Juwai.com

Australia’s Ironfish has made a strategic investment in Chinese international real estate platform Juwai.com. Terms of the transaction were not disclosed.

Juwai, the exclusive international property partner of WeChat owner Tencent, attracts more than 2 million Chinese-speaking users each month and showcases 2.5 million listings from 89 countries, it said in a statement.

Ironfish CEO & Founder, Joseph Chou said, “We like the people behind Juwai; we share similar values and feel that we complement each other’s business. This investment represents one of our strategies for the growth of the Ironfish business. It’s a strategic step towards our
future expansion.”

“At Ironfish, while our Chinese buyers represent only a portion of our overall customer base, we still see very strong demand of Chinese customers coming to purchase property in Australia – whether it’s to buy property for their children to live in when they come here to study, or for when they migrate, or simply as an investment. We see that demand will continue,” he added.

Ironfish is a property investment group with 14 offices in Australia and China, development arms in Melbourne, Adelaide and Perth.

HCC acquires stake in Jiande Hexu for $73m

Hony Capital-backed Hospital Corporation of China (HCC) has acquired a 70 per cent stake in Jiande Hexu Enterprise Management, owner of a traditional Chinese medicine (TCM) hospital and other healthcare businesses, for RMB483 million ($73 million).

The purchased assets include Jiande Hospital of Traditional Chinese Medicine, a privately-held TCM general hospital in Hangzhou; DJ Medicines, a distributor of pharmaceutical products to Jiande Hospital, and DJ Pharmaceutical Technology.

Upon Completion, Jiande Hexu will become an indirect wholly-owned subsidiary of HCC.

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.