Jack Ma’s entry into Suning Financial Services Group led to a valuation of 32.3 billion after attracting 14 strategic investors.
On December 25, Suning Cloud Business announced that its holding subsidiary Suning Financial Services (Shanghai) Co., Ltd. ("Suning Financial Services" for short) and Existing shareholders Suning Yunshang and 14 investors signed a capital increase agreement, agreeing that Suning Financial Services will increase capital and expand 16.50% of new shares to investors in this round at a pre-money valuation of 27 billion yuan, raising a total of 5.335 billion yuan. After the completion of this capital increase, Suning Financial’s post-investment valuation will be approximately 32.335 billion yuan.
Suning Financial’s capital increase and share expansion included 14 investors, including Jack Ma and other funds. Specifically: Suning Financial Holdings’ designated entity invested approximately 2.829 billion yuan and obtained 8.745% of Suning Financial Services’ shares after this capital increase and share expansion. The Employee Stock Ownership Partnership (Phase II) invested approximately 2.668 billion yuan and obtained 0.825% of Suning Financial Services’ shares after the capital increase and share expansion. Yunfeng Investment, which holds 60% and 40% of the shares of Yufeng and Jack Ma respectively, invested 1 billion yuan and obtained 3.093% of Suning Financial Services’ shares after the capital increase and share expansion. Gimpo Investment invested RMB 600 million to obtain 1.856% of the shares of Suning Financial Services after the capital increase and share expansion; Gimpo Investment’s shareholders are Gimpo Industrial Investment Fund Management Co., Ltd. (Shanghai International Group Asset Management Co., Ltd. holds 49.5% of the equity), Shanghai Houyi Jiakong Enterprise Management Co., Ltd. and Shanghai Haoxu Investment Management Co., Ltd. Puzhi Asset Management Investment invested 130 million yuan and obtained 0.402% of Suning Financial Services’ shares after the capital increase and share expansion; Zhongchi Financial Holding Capital Co., Ltd. holds 60% of its shares, and Shenzhen Mangrove Venture Capital Co., Ltd. holds 40% of its shares. equity.
In addition, CICC Zhida Investment invested 100 million yuan and acquired 0.309% of Suning Financial Services’ shares after the capital increase and share expansion; Guangji Capital invested 100 million yuan and acquired 0.309% of Suning Financial Services’ shares after the capital increase and share expansion; Hongtu Heding Fund invested 40 million yuan and acquired 0.124% of the shares of Suning Financial Services after the capital increase and share expansion; Jiangsu Hongruan Investment invested 40 million yuan and acquired 0.124% of the shares after the capital increase and share expansion of Suning Financial Services; Shenzhen Venture Capital Group invested 20 million yuan, acquiring 0.062% of the shares of Suning Financial Services after the capital increase and share expansion; Caishilai Investment invested 50 million yuan, acquiring 0.155% of the shares after the capital increase and share expansion of Suning Financial Services; Yingcaiyuan Investment invested 50 million yuan , obtained 0.155% of the shares of Suning Financial Services after the capital increase and share expansion; New Hualian Holdings (8.650, 0.07, 0.82%) invested 50 million yuan, obtained 0.155% of the shares of Suning Financial Services after the capital increase and share expansion; Forty People Investment Management It invested 30 million yuan to acquire 0.093% of Suning Financial Services’ shares after the capital increase and share expansion; Xinghe Haokang Fund invested 30 million yuan and acquired 0.093% of Suning Financial Services’ shares after the capital increase and share expansion.
Regarding the reasons for the introduction of strategic investors, Suning said that it plans to continue to promote service and product innovation. Businesses such as payment, supply chain finance, consumer finance, and financial insurance are developing rapidly, and it will continue to increase investment in the field of financial technology to improve risk control capabilities.
Beijing Securities Regulatory Bureau: Ordering Chairman Jia Yueting to return to China before December 31, 2017
Beijing Securities Regulatory Bureau issued a notice on the 25th, ordering Jia Yueting, the former chairman of LeTV , to return to China before December 31, 2017, and earnestly implement the company's actual performance Controllers should fulfill their obligations and cooperate in solving company problems. The
notice shows that as the actual controller and former chairman of LeTV, Jia Yueting failed to fulfill his commitment to provide interest-free loans to listed companies when the company was in urgent need of funds. The Beijing Securities Regulatory Bureau has issued a "Regarding Jia Yueting's Administrative Correction Order" for his violation of the commitment. "Decision on Supervisory Measures", so far Jia Yueting has not fulfilled his promise and has not submitted a rectification report to the Beijing Securities Regulatory Bureau.
On September 13, 2017, the Beijing Securities Regulatory Bureau issued a letter of concern to Jia Yueting, requiring Jia Yueting to return to China immediately after receiving the letter and properly handle various risks faced by the company. Since then, it has also repeatedly conveyed to Jia Yueting through the listed company that he will return to China to fulfill his responsibilities. requests, but no relevant action has been taken so far. Jia Yueting stayed abroad on the grounds of investing in automobile business and financing. Related companies he controlled owed huge amounts to listed companies, which have not yet been repaid. Related actions seriously infringed on the legitimate rights and interests of listed companies and the vital interests of investors, and had extremely social impact. bad.
This announcement is an administrative order with legal effect and binding force. Under normal circumstances, Jia Yueting should return to China to cooperate in fulfilling his responsibilities.Failure to cooperate may result in corresponding administrative penalties. In addition, if Jia Yueting fails to fulfill his promised external borrowing obligations, causing losses to expand, Jia Yueting will be liable for compensation.
Thai National Petroleum denies investment in Faraday Future
Faraday Future, an automotive start-up invested by Jia Yueting, is said to have received US$1 billion in financing, but the funding provider has not yet been announced. But the funder should not be the rumored Thai National Petroleum Company .
On December 25, Petroleum Thailand (PTT) stated that PTT had not made any investment in Faraday Future.
PTT company stated that although it has not invested in Faraday Future, PTT is still paying attention to innovation and new technologies. In 2016, PTT established an innovation team "Express Solution" to look for new business opportunities and established a $45 million The venture capital fund "Corporate Venture Capital" is used to invest in technology companies.
A week ago, media reported that on December 13, Los Angeles time, Jia Yueting announced at FF’s internal all-hands meeting that after nearly a month of negotiations with investors, FF had successfully completed over US$1 billion in Series A equity financing. Subsequently, media reported that Thailand’s state-owned listed company Petroleum Thailand (PTT) was an investor in Faraday Future’s Series A financing.
Former Huawei mobile phone China sales manager Teng Hongfei has been taken away for taking bribes
On December 25, it was reported that Teng Hongfei, Huawei’s consumer business sales manager in China, has been taken compulsory measures by the public security organs for taking bribes.
There is news that Teng Hongfei has been taken away for investigation. Huawei said that it has not received internal notification and will not respond. However, on the evening of the 25th, Huawei said that Teng Hongfei, the former sales director of its consumer business in China, had been taken compulsory measures by the public security organs on suspicion of bribery by non-state personnel.
is suspected of criminal offenses and is currently under investigation by the police.
Huawei stated that it has always conducted business based on the principles of honesty and business ethics, and has zero tolerance for internal corruption.
Meituan Taxi Recruitment Online taxi hailing may start a new round of subsidy war
On December 22, Meituan Dianping was revealed by the media to be wooing drivers with lower platform commissions. Meituan Taxi’s current platform deduction fee is only 8%.
At the same time, Meituan-Dianping’s competitor in the wine and travel industry and Ctrip also quietly launched a taxi-hailing business together with Didi. An industry insider analyzed that the easiest way for Meituan-Dianping to gain market share is to fight a subsidy war. However, the current domestic online ride-hailing market is not what it used to be. A new round of competition may occur in the cities where Meituan-Dianping is attacking. There is a subsidy war, but the scale is bound to be much smaller than in the previous Didi, Kuaidi, and Uber eras.
