China Roundup: Two EV firms mull $1b HK listing, and more

Two EV firms mull US$1 billion Hong Kong listing

• Hozon New Energy Automobile and  WM Motor Technology are reportedly looking to go public as early as next year.
• However, the timing and size of the listing are still subject to change.
• The two firms join Sequoia-backed Leapmotor in a wave of EV vehicle firms planning to enter the city’s stock market.

SMIC to invest US$3.6 billion for JV in Shanghai

• SMIC Holdings, National Integrated Circuit Industry Investment Fund Phase II, and an undisclosed investment institution will set up a Shanghai-based joint venture. SMIC will provide around 66% of Lingang Joint Venture Company’s registered capital of US$5.5 billion.
• The joint venture will focus on 12-inch integrated circuit wafers production, integrated circuit packaging, and integrated circuit-related tech design and development.
• Separately, Chiang Shang-yi resigned as SMIC’s executive director and vice-chairman as part of a boardroom reshuffle after the company was put on a trade blacklist in the US in December 2020.

Warehouse solutions firm raises US$50 million in a series B2 round

• Whalehouse Technology raised funds from XVC, Yunfeng Fund, Defiance, Baidu Ventures, and GSR United Capital.
• Established in 2014, Whalehouse provides automated warehouse solutions, with the latest funding going toward research and development, and marketing efforts.
• Counting Adidas, Nike, and Samsung among its clients, Whalehouse currently provides whole-link smart warehouse solutions, including storage, selection, distribution, management, and assessment.