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China Business News (2021-04-02)



1. Smart Share Global showed a relatively successful Nasdaq IPO


Yesterday Smart Share Global (also known as Energy Monster) had its Nasdaq IPO. It is the first stock listed from the enormous Chinese market of the power bank rental service companies. The company has issued USD 17.65 million Ads shares for USD 8.50, with a total issue size of USD 150 million. On the first day of the listing, Monster Charging's share price increased slightly to USD 8.54 (+0.47%), which is a success in the current challenging market situation. In addition, it became transparent that the company is the market leader in China in power bank rental service with a market share of 34.4%.


Source: https://36kr.com/newsflashes/1164165937415297

2. Li Auto publishes decent Q1 growth figures

Today, the third Chinese-listed EV startup also released its Q1 sales figures. Li Auto delivered 4,900 of their vehicles in March (a YoY increase of 238.6% and 113% compared to February 2021). As a result, the total number of delivered vehicles is now 12,579 in the first quarter (growth of 334.4% YoY). As of March 31, Li Auto has 65 retail centers in China, covering 49 cities. Li Auto relies on a hybrid model rather than a completely electric powertrain compared to its competitors.



Source: https://36kr.com/newsflashes/1164258629502340

3. Swan Daojia is seeking a U.S. initial public offering this year


Swan Daojia, the maid and home care service provider, is seeking a U.S. initial public offering this year. Backed by China's Craigslist equivalent 58.com, the company could seek a valuation of about USD 3 billion with the IPO. Founded in 2014, Swan Daojia is a platform that provides services in China ranging from flower deliveries and home repairs to house cleaning and babysitting. It operates in more than 400 cities and has more than 6,000 employees. The company had postponed its planned IPO early last year due to the Coronavirus outbreak..



Source: https://www.bloomberg.com/news/articles/2021-04-02/home-cleaner-swan-said-to-revive-u-s-ipo-at-3-billion-value

4. Huawei's cloud services are the fastest growing in the world


Last year, Huawei's cloud ranked second in the Chinese public cloud market. In addition, Huawei's cloud service is also the fastest growing in the world. This is especially important as Huawei's smartphone business is rapidly declining due to US restrictions. Growth in the cloud segment has led Huawei to increase its revenue by 3.8% despite all the problems.






Source: https://www.gizchina.com/2021/04/02/huawei-cloud-is-the-fastest-growing-globally-a-growth-rate-of-168/


5. TCL Technology partially acquires Samsung's business in China


TCL Technology announced that the acquisition of 60% equity of Suzhou Samsung Electronic LCD Technology and 100% equity of Suzhou Samsung display is complete. The new management has been taken over to make sure all aspects of the work are transferred smoothly. All production and operation will continue normally and will be included in the scope of the company's consolidated financial statements from the second quarter of 2021. No strategic reasons were given for these acquisitions.




Source: https://www.cls.cn/detail/719258

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