HORIZONS | BDO'S GLOBAL VIEWOF MID-MARKET DEAL ACTIVITY 47
CHINA HEAT CHART BY SECTOR
Industrials & Chemicals
715 34% 306 14% 218 10% 186 9%
TMT
Business Services
Energy, Mining & Utilities
TOP DEALS The largest mid-market deal in Q4 2021 was in Industrials & Chemicals. The top three major mid-market deals included: • Tencent Holdings Ltd., Mercedes-Benz AG and nine other companies acquired technology company Momenta Global Limited at a consideration of USD 500m - announced in Nov 2021; • Alibaba Group Holding Co., Ltd, Tencent Holdings Ltd. and three other companies jointly acquired Xingyin Information Technology (Shanghai) Co., Ltd. at a consideration of USD 500m - announced in Nov 2021; and • GGV Capital and seven other companies acquired Guangdong Huitian Aerospace Technology Co., Ltd. at a consideration of USD 500m - announced in Oct 2021. LOOKING AHEAD The latest BDO Global Heat Chart indicates that Greater China is the second most active region, with a total of 2,129 deals planned or in progress with 715 (34% of deals) related to Industrials & Chemicals, 306 (14%) related to TMT and 218 (10%) to Business Services.
Pharma, Medical & Biotech 172
8%
Consumer
169 8% 153 7% 144 7%
Financial Services
Real Estate
Leisure TOTAL
66 3%
2129
CHINA MID-MARKET VOLUMES BY SECTOR
2020
2021
241
288
180
169
152
192
39
46
553
576
111
125
200
242
112
103
217
225
Technology & Media
Financial Services
Energy, Mining & Utilities
Pharma, Medical & Biotech Real Estate
Consumer
Business Services
Leisure
Industrials & Chemicals
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