Leading Smart Electric Vehicle Company Xpeng Lists on NYSE
August 27, 2020, New York/Guangzhou -- XPeng Inc. (“XPeng” or the “Company”), a leading Chinese smart electric vehicle (“Smart EV”) company, started trading of its ADSs today at New York Stock Exchange (“NYSE”) under the symbol “XPEV”. Centurium Capital RMB Fund I invested in Xpeng in 2017 and held around 3.5% of stake prior to the IPO. The company priced its IPO of 99,733,334 American Depositary Shares (“ADSs”), each representing two Class A ordinary shares of the Company, at a public offering price of $15.00 per ADS. In addition, XPeng has granted the underwriters a 30-day option to purchase up to an aggregate of 14,959,999 additional ADSs. The gross proceeds from the offering, before deducting underwriting discounts and commissions and other offering expenses payable by XPeng, will be approximately $1.5 billion, excluding any exercise of the underwriters’ option to purchase additional ADSs. The offering is expected to close on August 31, 2020, subject to customary closing conditions. XPeng Inc. is a leading Chinese smart electric vehicle company that designs, develops, manufactures, and markets Smart EVs that appeal to the large and growing base of technology-savvy middle-class consumers in China. Its mission is to drive Smart EV transformation with technology...
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Centurium Capital Acquires Controlling Stake in Beijing Jingdu Children’s Hospital
August 12, 2020, Beijing – Centurium Capital (“Centurium”), a leading private equity investment firm in China, announced today that it has acquired a controlling stake in Beijing Jingdu Children’s Hospital (“Jingdu”). Located in Changping District in northern Beijing, Jingdu is the largest private children’s hospital in China and the only private tertiary children’s hospital in Beijing. Launched in June 2015 and located on a 40,000 square meter premises, Jingdu has 36 specialized departments, including an emergency center, and is a recognized leader in children’s hematology, cardiology, dermatology, and stomatology. Jingdu officially became a designated medical institution for Beijing Medical Insurance Plan in 2017. In July 2020, Jingdu was awarded the Joint Commission International (JCI) accreditation with top marks, becoming the first children’s specialty hospital in China to pass the JCI review via online virtual inspection and evaluation. The JCI accreditation is recognized as a global leader for health care quality and patient safety. Zhixing Chen, Executive Director of Centurium Capital, commented, “As the largest private tertiary children’s hospital in China, Jingdu has become a leading children’s specialty health services platform, and it has accumulated extensive medical resources and service capabilities. We highly value Jingdu’s brand and professionalism, and firmly believe...
202008-12 -
Statement from Centurium Capital on Requisition to Convene an Extraordinary General Meeting of Luckin Coffee
We are committed to supporting our portfolio companies to build a robust and transparent corporate governance structure and responsible management system. On 30 July, 2020, we requisitioned Luckin Coffee Inc. (the “Company”) to convene an extraordinary general meeting of members (the “EGM”). An EGM of the Company was held on 5 July 2020 (the “5 July EGM”), requisitioned by Haode Investment Inc (“Haode”), a company controlled at the time by the former chairman of the Board of Directors of the Company (the “Board”). The timing of the 5 July EGM, the subsequent liquidation process of Haode, and the resolutions proposed by Haode in the 5 July EGM, caused concerns over the independence of the directors nominated by Haode and elected in the 5 July EGM. It is important that there be no doubt as to the bona fides and ability to exercise independent judgment of any board member in order for the Company to be able to properly function and for the directors to fulfill their fiduciary duties. Mr Sean Shao had been an independent director and chair of the audit committee of the Company since May 2019, and the chair of the special committee of the Board (the “Special...
202008-04 -
AVCJ Awards 2019: Firm of the Year - Mid Cap: Centurium Capital
China-focused Centurium Capital has enjoyed a productive 12 months, closing its debut US dollar fund, deploying most of the capital, and securing an early liquidity event. Pictured: Michael Chen, a partner at Centurium Capital, accepts the Firm of the Year - Mid Cap award This story was authorized by Asia Venture Capital Journal (AVCJ) to run on the corporate website of Centurium Capital. Please click here for the original piece published by AVCJ on January 30, 2020. By Tim Burroughs For much of the past decade, China Biologic Products benefited from strong industry tailwinds. It was operating in a seller’s market – underpenetrated, undersupplied, and with little need to offer a differentiated message to a stable client base. Those supply-demand dynamics have changed. There is more competition, but the company doesn’t have the skillsets to carve out an edge through better sales and marketing or operational efficiencies that can ease pressure on the bottom line. Making the necessary operational refinements isn’t easy in the full glare of the public markets. In August 2018, a consortium of private equity investors made a substantial commitment to in terms of capital and reform. Four months ago, the same investors launched a take-private bid....
202002-05 -
Centurium Capital Donates RMB2 Million to Hubei Charity Federation to Help Fight Coronavirus Outbreak
January 25, 2020, Beijing – Centurium Capital today donated RMB2 million to Hubei Charity Federation’s special fund to help hospitals and local authorities fight the recent novel coronavirus pneumonia outbreak, which originated from Wuhan, Hubei’s provincial city and most severely hit. At the time of Centurium Capital’s donation this morning, China has confirmed 1,287 cases and 41 deaths, as the contagious illness continues to spread across the country, so far affecting 30 provincial-level regions.
202001-25 -
Centurium Capital Invests over US$300 Million in ANE Logistics
January 21, 2020, Beijing – Centurium Capital (“Centurium” or the “Firm”), a leading private equity firm in China, announced today that it has completed an investment of over US$ 300 million into ANE Logistics (“ANE” or the “Company”). ANE, the leading less-than-truckload (“LTL”) trucking logistics company in China, plans to use the financing to invest in technology and operations to further solidify its market leadership position. ANE’s daily LTL shipments reached close to 40,000 tons and its total number of franchise depots was over 20,000 as of December 2019, covering 96% of towns and townships in China. With a growing and well-run network of depots and trunk-lines, ANE has been steadily improving its profitability through effective cost management and increased operational efficiency. Yongjun Wang, Chairman of ANE, commented, “The trend towards concentration in China’s logistics industry is obvious. We see great opportunities over the next five years to expand our network, optimize operational efficiency and improve service quality. We will work hard to achieve the strategic goal of an average daily cargo volume of 100,000 tons and a market value of over RMB100 billion ($14 billion).” Michael Chen, Partner of Centurium, commented, “ANE Logistics is a clear leader in...
202001-20
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