<article>Chinese private equity firm <a href="https://www.dealstreetasia.com/?s=Yingke%20Capital">Yingke Capital</a> has invested Rmb810 million ($120 million) in the pre-IPO round of <a href="https://www.dealstreetasia.com/?s=Phylion%20Battery">Phylion Battery</a>, a China-based manufacturer of lithium-ion batteries for electric vehicles.</article>

Chinese private equity firm <a href="https://www.dealstreetasia.com/?s=Yingke%20Capital">Yingke Capital</a> has invested Rmb810 million ($120 million) in the pre-IPO round of <a href="https://www.dealstreetasia.com/?s=Phylion%20Battery">Phylion Battery</a>, a China-based manufacturer of lithium-ion batteries for electric vehicles.
Yingke confirmed the investment in a <a href="http://www.yingkepe.com/content-25-272-1.html">statement</a> posted on its Chinese website, adding that the investment could be a &#8220;significant development&#8221; for Phylion while it is considering a public listing.
The statement released by Yingke also said that <a href="https://www.dealstreetasia.com/?s=Fujian Newchoice Pipe">Fujian Newchoice Pipe</a>, a Phylion shareholder, is keen on helping the EV battery maker float shares on a stock market, potentially in the upcoming Nasdaq-style technology board in Shanghai.
Founded in December 2003, Phylion Battery, also known as <a href="https://www.dealstreetasia.com/?s=Xingheng%20Power">Xingheng Power</a>, specialises in the development, production, and sales of lithium-ion batteries with lithium manganate as the positive electrode material.
It has provided products and services to 8 million end users and more than 45,000 electric vehicles worldwide, and provided power supply solutions for new energy vehicles around the world.
A 36Kr report said Phylion was planning to raise Rmb1.2 billion ($178 million) in the pre-IPO round, with the fresh funds going to the company’s global expansion plan and adjustment of its equity structure.
The pre-IPO funding round came nearly four years after Phylion completed a series A round from Chinese investment bank CCB International and private equity firm Harmony Riverside. It also raised an angel round from Chinese investment holding firm Legend Holdings in September 2014.
Yingke Capital, one of the largest pre-IPO investment firms in China, sees huge opportunities in the establishment of the Science and Technology Board in Shanghai for its portfolio companies.
For this year alone, Yingke has invested in four companies, with Phylion as the latest. Last month, it anchored the series A funding round in Voc Acoustic Technology, a comprehensive acoustic technology enterprise that integrates research.
It also backed the $146.6-million series B funding round in Haihe Biopharma, a pharmaceutical company that specialises in innovative oncology drugs, in February, and led the $3-million venture round in Heng Yi Biotechnology in January.
In 2018, Yingke Capital was the lead investor in the funding rounds of Hanyu Medical, Royole Corporation, Health Engine, Huizhou Yipeng Energy Technology, and Kanghua Biotechnology, among others.
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The pre-IPO funding round comes in nearly four years after Phylion completed a series A round from CCB International and Harmony Riverside.

Chinese PE Yingke invests $120m in EV battery maker Phylion

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Chinese PE Yingke invests $120m in EV battery maker Phylion

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