China Evergrande To Raise $2B In Pre-IPO For Property, Car Marketplace Unit China Evergrande Group on Monday said it will sell 10% of its online real estate and automobile marketplace, Fangchebao (FCB), to 17 investors for HK$16.35 billion ($2.10 billion), in fundraising ahead of the unit’s initial public offering (IPO).
China Association of Automobile Manufacturers (CAAM): Production and Sales of Automobile from January to August Dropped by 12.1% and 11.0% Respectively According to the production and sales figure of August released by CAAM, 1.991 million and 1.958 million automobiles were produced and sold respectively in August this year, representing a year-on-year decrease of 0.5% and 6.9%.
Factory Digitalization Service Provider Xinheyun Raised Tens of Millions of Yuan in a Series B Round Funding Led by North Light Venture Capital Factory digitalization service provider Xinheyun raised tens of millions of yuan in a series B round funding by North Light Venture Capital, Fielding Capital, and Qinglan Capital.
Auto Parts Supply Chain Service Provider AutocloudPro Raised Tens of Millions of Dollars in a Series C+ Round Funding Led by Orient Hontai Capital Auto parts supply chain service provider AutocloudPro raised tens of millions dollar in a series C+ round funding led by Orient Hontai Capital and followed by Centurium Capital.
BYD’s Net Profit in the First Six Months Reached ￥1.4 Billion, a Year-on-Year Growth of 203% BYD released its semi-annual financial report: it took in ￥62.184 billion in the first half of 2019, a year-on year growth of 14.84%, with a net profit of ￥1.455 billion representing a year-on-year growth of 203.61%.
Automobile Technology Company BochuangLiandong Raised Tens of Millions Yuan in a Series B2 Round Funding Led by Cathay Capital Private Equity Automobile technology company BochuangLiandong raised tens of millions yuan in a series B2 round funding led by Cathay Capital Private Equity and followed by Baidu Venture.
Auto parts manufacturer MJ Electronics received a series B funding led by Ying Capital Auto parts manufacturer MJ Electronics completed a series B led by Ying Capital. This round of financing will mainly be used for the acceleration of R&D of technology products, the strengthening of team construction, and the development of corporate strategy.