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Shanghai future: electric cars, clean air Credit: Getty
Yet, more and more Chinese companies have started trading in New York with the IPO of electric vehicle manufacturer NIO and online pharmacy 111, Inc., but all this year and in 2020.
NIO, often described as a potential killer of Tesla, raised $ 1 billion in an IPO, against its initial target of $ 1.8 billion. NIO is one of the best prospects for China to lead the electric vehicle market on a global scale. Other main competitors include XMotors. Both are very early in their sales and development cycle.
As for 111, Inc., it originally planned to raise $ 200 million, but it adjusted that amount to $ 140 million, in the range of $ 14 to $ 16 and $ 13.80.
The parade of Chinese companies on US stock markets is taking place at a difficult economic time, as trade tensions between the US and China have worsened and Chinese equities have declined slightly. The IPOs are also part of a reduction in risk financing in China for emerging companies. See earlier Forbes post: VC crunch.
More than 20 Chinese companies have been listed on the NASDAQ or the NYSE this year. Another Chinese tech asset expected this week is the news aggregator supported by Tencent, Qutoutiao, which has requested a $ 300 million IPO on the NASDAQ.
China's online pharmacy company 111, Inc., founded in 2010 in Shanghai, is committed to the "New Retail" movement to digitize China's highly fragmented and inefficient pharmaceutical market. The integration of cloud computing, big data and supply chains is planned to improve the experience of medical treatment. It is known that Chinese consumers regularly wait three hours in a hospital to see a doctor and obtain a prescription.
The co-founders, Gang Yu and Junling Liu, recently raised $ 50 million in a Series E after at least $ 65 million in two previous financings. The sale of their first business, Yihaodian (YHD.com), the online grocery business acquired by Walmart and subsequently JD.com, was a fair share. The venture capital funds behind 111. Inc. are Velinvest Asia, ClearVue Partners and Zall Capital.
The 111, Inc. business model resembles that of Alibaba, with several related services under one roof: online and wholesale pharmacies and online clinic services. Its customers number 15 million and serve 100,000 pharmacies. Sales for the first half of 2018 totaled $ 110.5 million, up 68% over last year.
The Chinese health and welfare market is worth $ 1.5 trillion. Sign of a developing market, the three largest Chinese pharmaceutical chains hold only 5% of the market, against the three major pharmaceutical retailers that control 82% of the market.
If 111, Inc. achieves its goals, the drugs will become cheaper and much more readily available. If NIO achieves its goals, the air will be less polluted in China.
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Shanghai future: electric cars, clean air Credit: Getty
Yet, more and more Chinese companies have started trading in New York with the IPO of electric vehicle manufacturer NIO and online pharmacy 111, Inc., but all this year and in 2020.
NIO, often described as a potential killer of Tesla, raised $ 1 billion in an IPO, against its initial target of $ 1.8 billion. NIO is one of the best prospects for China to lead the electric vehicle market on a global scale. Other main competitors include XMotors. Both are very early in their sales and development cycle.
As for 111, Inc., it originally planned to raise $ 200 million, but it adjusted that amount to $ 140 million, in the range of $ 14 to $ 16 and $ 13.80.
The parade of Chinese companies on US stock markets is taking place at a difficult economic time, as trade tensions between the US and China have worsened and Chinese equities have declined slightly. The IPOs are also part of a reduction in risk financing in China for emerging companies. See earlier Forbes post: VC crunch.
More than 20 Chinese companies have been listed on the NASDAQ or the NYSE this year. Another Chinese tech asset expected this week is the news aggregator supported by Tencent, Qutoutiao, which has requested a $ 300 million IPO on the NASDAQ.
China's online pharmacy company 111, Inc., founded in 2010 in Shanghai, is committed to the "New Retail" movement to digitize China's highly fragmented and inefficient pharmaceutical market. The integration of cloud computing, big data and supply chains is planned to improve the experience of medical treatment. It is known that Chinese consumers regularly wait three hours in a hospital to see a doctor and obtain a prescription.
The co-founders, Gang Yu and Junling Liu, recently raised $ 50 million in a Series E after at least $ 65 million in two previous financings. The sale of their first business, Yihaodian (YHD.com), the online grocery business acquired by Walmart and subsequently JD.com, was a fair share. The venture capital funds behind 111. Inc. are Velinvest Asia, ClearVue Partners and Zall Capital.
The 111, Inc. business model resembles that of Alibaba, with several related services under one roof: online and wholesale pharmacies and online clinic services. Its customers number 15 million and serve 100,000 pharmacies. Sales for the first half of 2018 totaled $ 110.5 million, up 68% over last year.
The Chinese health and welfare market is worth $ 1.5 trillion. Sign of a developing market, the three largest Chinese pharmaceutical chains hold only 5% of the market, against the three major pharmaceutical retailers that control 82% of the market.
If 111, Inc. achieves its goals, the drugs will become cheaper and much more readily available. If NIO achieves its goals, the air will be less polluted in China.
