Wind-power to reduce the value of the electricity quotient of more than 30% outsourcing service providers sudden favor

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As a beneficiary of China's venture industry, the closure of the IPO gate in the United States has made many dreams of the heart of the venture. Last year 14 Chinese companies landed in U.S. capital markets, but the door closed tightly after the success of the second half of the potato rush. In response, only 16 of the 254 companies listed throughout the year have been earning positive returns throughout the year. The rapid cooling of capital markets casts a shadow over investment in the first tier.

According to Chinaventure group statistics, this 1-February fund fund-raising activity compared to 2011, a large decline in February did not disclose the first round of fund-raising funds completed. In January, the domestic disclosure of venture capital (VC) case only 20, the investment amount of 119 million U.S. dollars, compared with the same period in 2011 101 cases of total investment of 880 million U.S. dollars dropped significantly.

VC's enthusiasm for electricity business drops again

2011 E-commerce Industry (including business-to-business, internet shopping, online travel booking, electric business services, electric buyers and search) disclosure cases 116, total investment of 5.353 billion U.S. dollars, respectively, accounting for the total size of the Internet investment 43.6% and 65.6%, the amount of investment and the amount of the chain increased by 52 respectively. 6% and 451.5%. Before 2009, China's e-commerce industry investment has maintained a low level, the average annual investment in the number of around 30, the mean investment of only 200 million-300 million U.S. dollars.

In spite of the high growth in capital investment in the past few years, the final successful IPO is only the three of Mai Lin, Dangdang (Weibo) and only goods. Among them, Macaulay as China's first stock of electricity, in 2010 at the end of the market, still loss, the original price of 11 U.S. dollars, now shares less than 1.5 yuan. Last week's official listing was a fall of 30% per cent in less than a week after a sharp downgrade of the IPO price (USD 6.5) from its initial pricing range (8.5-10.5).

"On the one hand, the company is anxious to take the financial report of the loss of the listing, to fill the vacancy, on the other hand, is subject to the listing of similar companies poor performance, the macroeconomic outlook is not clear, and other factors, the single agency losses have negative effects, affecting the follow-up investment enthusiasm." "A T M T Industry investment Fund director told South reporters, subject to the limitations of the exit channel, the IPO is the end of the era of profit, the institutional book investment expected return to fall, V C bear a lot of pressure."

Chinaventure Group chief analyst Weifeng said that the VC/PE exit means including IPOs, mergers and acquisitions, and even with investors to sign repurchase terms, in China IPO is always the most mainstream way. "But in the second half of 2011, the domestic and foreign two-tier market continued to slump, the Internet mainstream IPO channel U.S. market for Chinese enterprises to avoid, e-commerce investment speed began to decline." ”

2011, the country a total of 233 investment institutions through 165 enterprises to achieve 393 IPO exit, year-on-year decline of 18.3% and 28.5%, the average book return of 7.22 Times times, is the lowest level of nearly three years. Under pressure, the corresponding is the reduction of investment. 2012 years ago two months of the disclosure of the investment case 9, the investment amount of 102 million U.S. dollars, the average single investment of only 11.33 million U.S. dollars, far below the 2011 investment level.

Traditional electric dealers ' valuations drop sharply

IPO cooling, the company's IPO prospects are not clear, but the financing still needs to continue, for the demand for funds to the high power companies. Today's capital President Xu attended the Second China Internet Investment Conference and the Forum on e-commerce investment and financing, describing that the internet is now a "do not give money, death to you to see".

The head of the TMT industry investment Fund said the average price for each round of financing in the past was higher than in the previous round, but this year the valuation averaged down 30% to 40%. "The same is true of the issue of lowering the distribution range, although its market value is comparable to the previous round of financing valuations, but the downward trend is a big one." ”

Chinaventure Group statistics show that the Internet industry in January this year total investment of 67.6 million U.S. dollars, accounting for more than 6.5%, the average single investment of 8.45 million U.S. dollars, compared with the apparent decline last year. "Electronic commerce is still the mainstream of internet investment, but the overall valuation has declined significantly from the scale of investment." "Weifeng said.

Instead, some of the areas that have been subdivided are "sudden emergence" of outsourcing providers.

In the past year, E-commerce outsourcing service Provider Hee-Bo received two rounds of financing, Shangpai completed the third round of financing, easy to accumulate network, E store treasure to obtain a second round of financing. In February this year, all customers sincere products mobile phone client partners, mobile electrical business outsourcing services Business Network to complete the million-dollar B-round financing.

Gavin, chairman and CEO of the Qing Branch, said that the expected capital will pay full attention to the electric industry chain, E-commerce outsourcing service providers, social E-commerce enterprises, mobile E-commerce enterprises will be different degrees of access to capital.

Reporter: Cherius intern Wang Runzhu