Tagged: company

India online insurance company funded by Softbank

Policybazaar, an Indian online insurance platform funded by Softbank (45.3%, 0.12%, 0.27%), is planning to submit a draft prospectus for its initial public offering in Mumbai as early as next month, according to people familiar with the matter. The scale of financing may reach about $500 million.

 

The company is seeking to go public by the end of this year, with a target valuation of more than $3.5bn, sources said.

 

In addition to Softbank, the company’s investors include tiger global and Singapore sovereign wealth fund Temasek group. The company is expected to be one of the first large start-ups to go public in India this year.

BP achieves debt target ahead of schedule

BP (24.26, – 0.32, – 1.30%) said on Tuesday that it expected to reach a net debt target of $35 billion in the first quarter of this year, thus meeting the threshold that the company once said it could restart share repurchase.

 

BP’s net debt at the end of last year was $38.9bn, when it said it was likely to increase in the first half of 2021. But earlier than expected divestiture earnings, as well as “very strong” business performance, mean it achieved its target earlier than expected.

 

“After meeting its net debt target, BP is committed to returning at least 60% of its surplus cash flow to shareholders through share buybacks, provided it maintains a strong investment grade credit rating,” the London based oil giant said in a statement on Tuesday

 

In the first quarter of this year, BP gained about US $4.7 billion from divestiture, and now it is expected that the divestiture income in 2021 will be higher than the previously announced US $4 billion to US $6 billion.

Momenta, a self driving company

Momenta, a Chinese self driving start-up, said Friday it had received a total of $500 million from SAIC, Toyota (157.71, 4.07, 2.65%) and Bosch, a German auto parts supplier.

Momenta, a self driving company

Other participants in the round include Daimler, Temasek, Yunfeng fund and Tencent, momenta said in a statement. Momenta did not disclose the valuation of this round of financing.

 

Momenta has been founded for four years. It is led by Cao Xudong, a former Microsoft Executive (230.72, – 6.32, – 2.67%). Currently, it is testing autonomous vehicles in Beijing and Suzhou. The company also has a research center in Stuttgart, Germany.

 

Momenta is working with automakers to develop mass production vehicles with self driving capabilities to collect real-time information to develop technologies for future fully autonomous vehicles. Data is a key part of the autonomous driving industry, which allows companies to improve their technology in different environments.

The stock price plummeted continuously, and the company responded

A reporter from e company called the company’s director’s office as an investor. The staff said that the company had noticed the actual controller’s unexpected situation. This was the actual controller’s private matter, and the company did not know the cause of the incident. The company has contacted the actual controller to understand the incident, but there has been no response yet.
Beauty Lizhuang (605136), who “fired in the backyard”, has approached two lower limit, and its market value has evaporated by nearly 3 billion!

The stock price plummeted continuously

On Women’s Day, Beauty Lizhuang suspected a fire in the backyard. A user with the net name “Lieren Lizhuang Weng Shuhua” and the profile “I am Weng Shuhua himself, Liren Lizhuang No.001 employee” called on Weibo to complain against Huang Tao, the chairman and actual controller of Liren Lizhuang.

After the Weibo was released, the “Looking for a Husband” incident continued to be fermented by the beauty and makeup. As of press time, the Weibo has been reposted nearly 20,000 times and left nearly 2500 messages.

Affected by this, after the lower limit on March 9th, Liren Lizhuang opened the lower limit on the 10th, and then opened the lower limit. As of the midday close, it was still struggling near the lower limit. The market value of the two trading days evaporated by nearly 3 billion yuan, and the latest market value is 10.9 billion yuan.

A reporter from e company called the company’s director’s office as an investor. The staff said that the company had noticed the actual controller’s unexpected situation. This was the actual controller’s private matter, and the company did not know the cause of the incident. The company has contacted the actual controller to understand the incident, but there has been no response yet.

Weibo Voice

The “family turmoil” of Huang Tao, the chairman of Beauty Lizhuang, originated from a Weibo.

On March 8, a Weibo user with the account name “Liren Lizhuang Weng Shuhua” posted a long post, claiming to be Huang Tao’s wife, and was once the sales executive director of Liren Lizhuang. After receiving Huang Tao’s persuasion, she returned to the family and became a full-time wife. On Weibo, Weng Shuhua “condemned” Huang Tao for failing to fulfill his corresponding responsibilities, regardless of his family, his wife and children, and even “not even a human figure”.

 

The user said, “Liren Lizhuang Huang Tao, if you read this Weibo, I hope your conscience can make you remember that you have a home, everything your home has given you, and remember that you are a man with a wife and children. , Remember your responsibilities as a husband and father.”

At the same time, “Beauty Lizhuang Weng Shuhua” called herself “more like a single mother”. As the wife who witnessed the stage of operating from a Taobao store to a listed company with Huang Tao, she complained about her grievances on Weibo and called Huang Tao. “I hope your conscience can make you remember that you have a home.”

In order to attract more attention, Weng Shuhua also posted @汉理 Capital Chairman Qian Xuefeng, Alibaba Group founder Jack Ma, Alibaba Board Chairman Zhang Yong, Luo Zhenyu, papi sauce and others on Weibo.

Beauty Beauty was established in May 2010 and is headquartered in Shanghai. It is an online cosmetics marketing and retail service provider. The company’s main business revolves around Alibaba’s e-commerce platform to carry out e-commerce agency operations. Currently, it has obtained authentic authorization services for more than 60 global brands in China, including Fuli Fangsi, Sulwhasoo, Avene, Schwarzkopf, etc.

In the early stage of 2007-2012, Beauty and Beauty started its Taobao store, which was the first cosmetics agent to enter the Taobao Mall. It was the first batch of cosmetics operators to enter the Taobao Mall. It was in the growth period from 2012 to 2015. In 2012, it received Ali’s A round of financing; in 2015, it won Ali and other B rounds. The financing is now in the development period, and it has successively signed contracts with international groups such as L’Oreal, Amore, Henkel, Kanebo, etc., to accelerate the expansion of beauty and personal care brands, and has grown into the leading e-commerce agency operation leader in the domestic beauty industry.

The most well-known incident of Liren Lizhuang was in April 2016, when she sold 22 million yuan to shoot the first post ad of the then-popular video blogger papi sauce.

Liren Lizhuang went public in September 2020, with an issue price of 12.23 yuan per share and a total of 489 million yuan of funds raised.

According to the prospectus, Liren Lizhuang is mainly engaged in e-commerce retail and brand marketing. Among them, e-commerce retail business is its core, and e-commerce business is mainly carried out through Tmall. From 2017 to 2019, the company’s e-commerce retail business revenue through Tmall was 3.15 billion, 3.34 billion and 3.69 billion yuan, accounting for more than 99% of the e-commerce retail business revenue that year.

In the first three quarters of 2020, Liren Lizhuang achieved revenue of 2.464 billion yuan, a year-on-year increase of 9.72%; net profit was 192 million yuan, a year-on-year decrease of 1.90%.

Contact response

The prospectus shows that Weng Shuhua does not own shares of Liren Lizhuang.

As of the end of the third quarter of last year, Mu Huangtao held 33.49% of Liren Lizhuang’s shares and was the controlling shareholder and actual controller. Alibaba (China) Network Technology Co., Ltd. is the second largest shareholder with a shareholding ratio of 17.59%.

The protagonist of this incident, Weng Shuhua is not the first time that Weng Shuhua has appeared in the public eye. During the listing of Beauty Beauty, in 2019, Weng Shuhua was interviewed by the media as Beauty Beauty Beauty 001 employee and Huang Tao’s wife, and was called by the relevant media as ” A virtuous and virtuous entrepreneur”.

Weng Shuhua recalled his and her husband’s entrepreneurial experience and said that in 2006, Huang Tao had acute diabetes and began to go home to recover. At that time, when e-commerce was on the rise, Weng Shuhua and his wife started as a shop in Taobao to subsidize the family. While taking care of Huang Tao who was sick at home, Weng Shuhua ran a Taobao shop, which is now Liren Lizhuang.

Later, Huang Tao devoted most of his energy to the operation of the soaring beauty and makeup, and Weng Shuhua also slowly “retreated to the second line” and became a full-time wife, taking care of the children.

Another protagonist’s situation, according to public information, in 1998, Huang Tao graduated from Tsinghua University with a master’s degree in automation, and for the next two years, Huang Tao taught at Tsinghua University. After serving as an executive at General Motors in the United States for two years, Huang Tao started his own business in November 2002 and successively founded Fractalist and Beauty.

The capital market responded quickly to this. After the opening of the market on March 9, the share price of Liren Lizhuang was quickly hit by the lower limit. In the morning of March 10, the share price of Liren Lizhuang fell sharply again and once fell by the limit. As of midday, it fell 9.51%, and the total market value was 10.9 billion yuan.

A reporter from e company called the company’s director’s office as an investor. The staff said that the company had noticed the actual controller’s unexpected situation. This was the actual controller’s private matter, and the company did not know the cause of the incident. The company has contacted the actual controller to understand the incident, but there has been no response yet.

Regarding the recent stock price fluctuations, the staff said that if the subsequent stock price reaches the exchange’s stock price change announcement standard, the company will issue a change announcement. However, the actual controller has not yet responded to the company on this matter. If there is a follow-up response, the company will issue a statement through Weibo, official account, etc., investors are advised to pay attention.