Market Overview: in the first quarter of 2022, the investment amount in the national equity investment market was about 200 billion, and the investment rhythm slowed down
In the first quarter of 2022, the rhythm of China’s equity investment market slowed down significantly due to the repeated impact of the international situation and the Chinese epidemic. According to the data of Zero2IPO Research Center under Zero2IPO venture (01945. HK), there were 1599 investments in China’s equity investment market in the first quarter of 2022, a year-on-year decrease of 27.5%; The disclosed investment amount was RMB 1968822 billion, a year-on-year decrease of 47.1%. Compared with 2021, the proportion of large-scale cases decreased in the first quarter of 2022, the proportion of investment cases with an investment scale of more than 1 billion decreased from 1.7% to 1.2%, and the proportion of investment amount decreased from 42.3% to 33.6%.
From different markets, the total amount of early investment, VC and PE market investment decreased year-on-year in the first quarter of 2022. Among them, the investment amount in venture capital and private equity investment markets decreased by more than 47% year-on-year, and the number of investment cases in early investment markets decreased by more than 44%. In addition, from the perspective of sub sectors, the investment cases of China’s early investment in the machinery manufacturing industry increased rapidly in the first quarter of 2022, while the venture capital and private equity investment markets increased rapidly in the automotive sector this quarter, with the number of investment cases increasing by 137.5% and 31.6% year-on-year respectively.
Investment currency: both RMB and foreign currency investment decreased, but the decline in foreign currency investment was higher
In terms of investment currency, the amount of RMB investment and the number of cases in China’s equity investment market in the first quarter of 2022 were 150944 billion and 1923 respectively, with a year-on-year decrease of 26.0% and 21.7% respectively; The number of foreign currency investments and cases was 45.877 billion and 232 respectively, with a year-on-year decrease of 72.7% and 55.1% respectively. The amount of foreign currency investment decreased by 2.5 times compared with that of foreign currency investment. The reasons are as follows: first, due to the continuous tightening of supervision on Chinese concept shares by the United States, the process of Chinese enterprises listing in the United States is slow; Second, the SEC began to implement the foreign company Accountability Act. The delisting risk of China concept shares listed in the United States increased, the share price also suffered a collective setback, and the exit channel of US dollar funds was blocked. In this context, the pessimism at the exit end of the US dollar fund was transmitted to the front end, and its investment entered a confused period, resulting in a sharp decrease in the number and amount of foreign currency investment cases.
Investment industry: the investment concentration of the top five industries is nearly 80%, and the investment activity of the automotive industry has increased significantly in this quarter. From the perspective of industry distribution, the investment industry concentration of China’s equity investment market in the first quarter of 2022 is high, and nearly 80% of the investment cases are concentrated in the top five industries. Among them, the number of investment cases in it, semiconductor and electronic equipment, biotechnology / medical and health industries has exceeded 400, and the investment scale has exceeded 30 billion yuan, with obvious comparative advantages.
Specifically, in the first quarter of 2022, the number of investment cases in the IT industry still ranked first, with a total of 540 cases; Under the background of increasing uncertainty in the international situation, the trend of chip localization is more obvious, the investment heat of semiconductor and electronic equipment industry is heating up, and the ranking of investment cases and investment amount also continues to rise, from the third and second in 2021 to the second and first; The number of investment cases and investment amount in the medical and health industry were 427 and 31.296 billion respectively, ranking third in China. In addition, under the combined influence of factors such as industrial transformation and upgrading and stricter Internet supervision, the investment activity of machinery manufacturing exceeded that of the Internet, and the number of investment cases rose to fourth.
In terms of growth rate, the automobile industry grew rapidly in the first quarter of 2022. The financing scale and the number of cases in the industry increased by 51.2% and 46.9% year-on-year respectively, ranking first. From the perspective of large-scale cases, there are not a few large-scale case enterprises in the automotive industry, such as the round B financing of Chang’an new energy under Chongqing Changan Automobile Company Limited(000625) banner, which is nearly 5 billion, and the financing scale of Wenyuan Zhixing and Jidu automobile is as high as 400 million US dollars.
