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China Business News (2021-04-16)

1. Ctrip will raise HKD 8.33 billion in an initial public offering next week

Ctrip ( announced that it would be listed on the Hong Kong Stock Exchange on April 19 with a price of HKD 268 per share. The company will raise HKD 8.33 billion from the Hong Kong listing and has grown 17.8 times in its retail investor subscription. On Sunday, in the IPO context, we will also publish a new CIMK report on this company.


2. Bilibili and Activision Blizzard announce a strategic partnership

Chinese video and live streaming platform Bilibili and game publisher Activision Blizzard have announced a multi-year strategic partnership. The deal includes the publisher's production and broadcast rights of e-sports games in China and further development of commercial interests and brand support in the region. No financial terms were disclosed. Bilibili has a similar three-year deal with Riot Games for distribution rights to the international League of Legends competitions.


3. Social sports platform Keep plans US IPO this year

Keep, a social sports platform, plans to file a prospectus with the Securities and Exchange Commission (SEC) at the end of April to seek a U.S. stock exchange listing. According to the plan, the listing should take place as early as July to November. Official confirmation is still pending. In recent months, there have been several signals of the IPO preparation, such as a new experienced CFO and the focus on increasing users. As early as March 2021, the company had 300 million users, with 6 million daily users.


4. IoT company Viomi presents new products

Viomi Technology has announced that it will manufacture AI toilets, AI water purifiers, AI water heaters, AI air conditioners, and other new products. They also announced a new initiative, which focuses on health, home security, and natural voice interaction. The company is an Internet-of-Things (IoT) company that offers a platform of connected products. Its subsidiaries develop and sell Internet-of-Things-enabled home products such as water purifiers, refrigerators, fans, water dispensers, water heaters, and washing machines in China.


5. XPeng Motors partners with major car dealership group

XPeng Motors announced that it has entered into a partnership with Zhongsheng Group, a leading car dealership group in China. This long-term strategic partnership is expected to further accelerate the adoption of electric vehicles in China due to XPeng's high-quality vehicles and Zhongsheng's high-quality dealer network. It will help XPeng increase sales while strengthening its after-sales service capabilities.


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