HORIZONS | BDO'S GLOBAL VIEWOF MID-MARKET DEAL ACTIVITY 47
CHINA HEAT CHART BY SECTOR
Industrials & Chemicals
649 34% 263 14%
TMT
Business Services 205 11% Pharma, Medical & Biotech 168 9% Financial Services 166 9% Energy, Mining & Utilities 162 8% Consumer 136 7% Real Estate 116 6% Leisure 51 3% TOTAL 1,916
TOP DEALS The largest mid-market deals in Q1 2022 were spread across different sectors, including TMT, Industrials & Chemicals, Financial Services and Business Services. The major mid- market deals were as follows: • Innoscience Technology completed pre-IPO financing and the deal value was around USD 473m – announced in February 2022; • Huike Co., Ltd. acquired a 12.8% stake of Mianyang Huike Optoelectronics Technology Co., Ltd. from Mianyang Investment Holding (Group) Co., Ltd. at a consideration of USD 428m, as part of a restructuring - announced in January 2022; and • Hong Kong Asia Medical Holding Limited announced that it has raised USD 400m in a round of funding co-led by Country Garden Venture Capital and Primavera Capital Group in February 2022. LOOKING AHEAD The latest BDO Global Heat Chart shows that the Greater China region is predicted to be the second most active region with 1,916 deals announced or in progress. 649 (34%) of deals are expected to take place in the Industrials & Chemicals sector, followed by 263 (14%) in TMT and 205 (11%) in Business Services.
CHINA MID-MARKET VOLUMES BY SECTOR
2021
2022
290
55
171
26
192
24
6
45
580
110
132
23
242
32
104
15
229
35
Technology & Media
Financial Services
Energy, Mining & Utilities
Pharma, Medical & Biotech Real Estate
Consumer
Business Services
Leisure
Industrials & Chemicals
China
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