Report丨IT Orange: China’s New Economy Venture Capital Data Analysis Report for Q2 and the First Half of 2023

In Q2 of 2023, the proportion of A-round and previous rounds in the domestic new economic field will be 60%, and the proportion of early-stage financing in the new economic field is still high.

Judging from the overall proportion of early-stage financing (Series A and before) in the past six quarters, early-stage investment and financing events have always been the mainstream, accounting for between 59% and 64%.

Shanghai, Beijing, Shenzhen, Suzhou and Hangzhou are the five most active cities in investment and financing in the country. In Q2 of 2023, the number of investment and financing events in Beijing increased from 154 in Q1 of 2023 to 177, an increase of 14.9%, tying Shanghai, and tied with Shanghai as the most active city in investment and financing.

The hot investment and financing events in the five major cities throughout the first half of 2023 are concentrated in the biotechnology, pharmaceutical, and integrated circuit industries. In addition, new energy/new materials are also very popular. Except for Suzhou, the other four major cities have new energy/new materials in popular investment and financing tracks, among which Shanghai and Shenzhen are more popular.

The overall M&A transactions in the new economy have cooled down. In Q2 2023, there were 132 M&A events in the new economy, a year-on-year decrease of 49%, and a month-on-month decrease of 34%. The scale of M&A transactions in the new economy in Q2 2023 was 67.1 billion, a year-on-year decrease of 16.5%, and a month-on-month decrease of 11%. .

In 2023Q2, the proportion of M&A transactions in the new economic field above RMB 1 billion accounted for 23%, an increase from 2023Q1; the proportion of M&A transactions between RMB 100 million and RMB 300 million was the same as the previous two quarters, both at 34%; M&A transactions below RMB 100 million accounted for than 15%.

In the first half of 2023, the most active mergers and acquisitions in China's new economic fields are corporate services, advanced manufacturing, traditional manufacturing, and medical and health fields.

Judging from the number of M&A events, except for enterprise services events, which have remained flat in the past two quarters, the M&A activity in the other four major industries has declined compared with the previous quarter. There were 20 M&A transactions in the traditional manufacturing sector, a decrease of 17 from the previous quarter. , a decrease of 33 cases compared with the same period last year.

Judging from the total amount of M&A transactions, the medical and health field dropped from 41.6 billion yuan in 2023Q1 to 18.1 billion yuan, a month-on-month decrease of 129.8%, while the traditional manufacturing field increased from 9.7 billion yuan to 19.7 billion yuan.

The following is part of the "2023 Q2 and first half of China's new economy venture capital data analysis report":

You can get the full text of the report by replying to the "2023 Q2 and First Half of China New Economy Venture Capital Data Analysis Report" in the background of the official account.