"Science and Technology Innovation Board Daily" (reporter Chen Mei) news, on the eve of the Spring Festival, the reporter found that as the largest private equity investment fund manager, CICC Capital changed hands on a subordinate equity fund.
Recently, 55% of the equity of CICC Qianhai (Shenzhen) Private Equity Fund Management Co., Ltd. was transferred by CICC Capital. The inquiry found that CICC Qianhai was engaged in venture capital business, with 15 employees and CICC Capital as the largest shareholder.
Before the transfer, CICC Qianhai's performance was acceptable. As of October 31, 2021, CICC Qianhai (Shenzhen) had an operating income of RMB23.8288 million, an operating profit of RMB11.7743 million and a net profit of RMB9.4865 million.
The appraisal agency Beijing CEA Asset Appraisal Company also conducted an asset appraisal of CICC Qianhai (Shenzhen). As of the above time, the net assets of CICC Qianhai were 146.567 million yuan, and the corresponding valuation of the appraisal was 80.61185 million yuan.
Although CICC Qianhai was transferred by CICC Capital, this equity private equity fund has also achieved good results in the past.
Since its establishment, CICC Qianhai has made equity investments in nearly 30 enterprises, including Sinopec, Daily Express, Baiguoyuan, Huole Technology and so on. But in 2021, not a single investment has appeared. The inquiry found that CICC Qianhai's last investment occurred in December 2020, when it completed a Series B investment of 1 billion yuan in Shanghai Luyuan Biotechnology.
In addition, in March 2016, CICC Qianhai also participated in the financing of LeTV Sports. At that time, LeTV Sports confirmed the completion of the B round of 8 billion financing, and CICC Qianhai appeared as one of the investors. However, LeTV Sports eventually died with Jia Yueting's accident.
Overall, in the past investment cases, CICC Qianhai has both strategic investments and A and B rounds of investment, covering the start-up stage, growth period and maturity period.
It is worth mentioning that the management team, CICC Qianhai is not bad. Hu Qihao is his managing director, and his resume shows that he joined CICC Qianhai in 2015 as managing director. Prior to that, he served as the marketing manager of the World's top 500 Schneider Electric Inverter Division, the deputy general manager of the Nuclear Pump Department of Fuchs Pump Industry in the United States, the general manager of Botai Krauss Robot China in Canada, and participated in the successful acquisition of Lidwarv, a domestic high-voltage inverter leader.
Another managing director, Jiang Shanjuan, is also very prominent in business. Prior to joining CICC Qianhai, he was responsible for the research and development of semiconductor MEMS pressure sensors and accelerators at General Electric, and then transferred to the california civil service retirement fund, the largest public fund in the United States, as a private equity investment officer (the fund manages more than 300 billion US dollars of pension assets, of which private equity funds account for 12%), responsible for global private equity investment work.
As of the end of June 2020, CICC Qianhai had a total management fund of approximately RMB7 billion. However, the low price of the transfer of CICC Capital is 80.61186508 million yuan.