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[Dynamic News] "Twenty Years of Walking Together, Building Dreams for the Future"-Paradise Silicon V

Date: 2020-11-11
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Twenty years ago, the first year of China's venture capital industry, the first batch of private equity investment institutions such as Shenzhen Venture Capital, Fortune Venture Capital, and Tongchuang Weiye have just been established, in Zhejiang Yitiantang Silicon Valley Asset Management Group Co., Ltd. (hereinafter referred to as: The first batch of venture capital institutions represented by (Silicon Valley, Paradise) have also become industry leaders. On November 11, 2020, Paradise Silicon Valley celebrates its 20th birthday. The 20th anniversary results conference with the theme of 'Twenty Years of Walking, Building a Dream for the Future' was held in West Lake Resort, Zhejiang.

 

Sheng Yijun, Deputy Secretary and Deputy Director of the Zhejiang Provincial Local Financial Supervision Administration, Hu Xiaoxiang, Deputy Director of the Hangzhou Local Financial Supervision Administration, and Gao Guofei, Secretary of the Xihu District Party Committee attended the event and delivered speeches. Leaders from Zhejiang, municipal and district governments, China Investment Development Promotion Association, Zhejiang Financial Industry Development Promotion Association, Zhejiang Equity Investment Industry Association, Zhejiang Venture Capital Association, Zhejiang M&A Federation, Zhejiang Securities Industry Association, Seven associations including Hangzhou Wealth Management Association, Dunhe Asset Management, PricewaterhouseCoopers, Zheshang Venture Capital, Saizhi Bole, Kefa Capital, Huarui Investment, Jinyan Capital, and more than ten peer institutions, and Paradise Silicon Valley More than 300 people, including shareholders, brothers, partners, and all employees, participated in the event to witness the development and achievements of Paradise Silicon Valley since its establishment 20 years ago.

 

Paradise Silicon Valley was established on November 11, 2000 by the Zhejiang Provincial Finance Office. It is also one of the first private equity investment institutions in China. At the beginning of its establishment, Paradise Silicon Valley shouldered the mission of supporting the development of Zhejiang's private economy, and it also carried the Zhejiang Provincial Government's hope to support key industries and high-quality enterprises supported by the state through venture capital. It can be said that the 20-year development history of Paradise Silicon Valley is also the epitome of the development of Zhejiang equity investment institutions. He Xiangdong, chairman of Paradise Silicon Valley, said in his speech that after 20 years of hard work, Paradise Silicon Valley has undergone restructuring, transformation and continuous innovation. From a base in Zhejiang to a national layout, it has developed from a simple venture capital company to a comprehensive asset management group. The company has always adhered to the professional, standardized, stable and innovative business policy, practiced the core concept of 'investor first, value investment, industry focus', and continued to improve its core competitiveness on the asset side. As of the end of October 2020, the cumulative scale of assets under management is nearly 60 billion yuan, and more than 170 small and medium-sized enterprises have invested in them. 39 companies have been listed on the main board and Hong Kong stocks. In addition, nearly 10 companies have been accepted by IPO or passed the meeting, and the project exit rate reached 43.17. %, the average IRR is 31.1%. Over the past two decades, Paradise Silicon Valley has always integrated sustainable development goals and fulfilling social responsibilities, supporting and donating cultural, education, environmental protection, poverty alleviation, anti-epidemic and other public welfare undertakings, and giving back to the society with practical actions. Up to now, a total of about 1.209 billion yuan has been paid in various taxes, realizing the simultaneous improvement of economic and social benefits.

 

He Dong said that the reason why Paradise Silicon Valley can achieve today's results is due to the booming economic development of China and the reform and innovation of the capital market; the rapid development of the equity investment industry and the market dividend. Since the development of Paradise Silicon Valley, it is inseparable from the guidance and care of governments at all levels, the strong support of shareholders, the trust and understanding of investors, and the long-term companionship of partners; it is inseparable from the original shareholders, past chairman of the board and management team. Contribution; even more inseparable from the collective wisdom and entrepreneurial passion of all current and former employees in the company.

 

Deputy Director Sheng Yijun said in his speech that Paradise Silicon Valley is the pioneer, promoter and leader of China's private equity investment industry. Zhejiang's financial reform has attracted much attention, especially in recent years, it has experienced the profound changes of Phoenix Nirvana and Tenglong's change of birds. In this process, private equity investment institutions represented by Paradise Silicon Valley have played an important and irreplaceable role and have strongly promoted The development of financial capital and high-end technology, the close integration of professional management and the introduction of talents, deep participation in corporate share reforms, mergers and acquisitions and reorganizations, and support for multi-level capital markets such as the science and technology innovation board. As of the end of September 2020, there are 2,905 private equity fund managers registered in Zhejiang Province, with an asset management scale of 1.3 trillion yuan, ranking fourth in the country. Zhejiang Province is making every effort to build an emerging financial center, vigorously promote the construction of the Qiantang River Financial Harbor, Hangzhou International Financial Technology Center, and use financial characteristic towns as the main gathering platform to attract private equity and venture capital companies to gather and develop. It is a new economy, new business format, New industries and new technology companies are growing vigorously and inject strong capital power. During the 14th Five-Year Plan period, it will take innovative finance as the core, serve the real economy, and create a business environment that is more suitable for equity investment institutions to deepen the Zhejiang market. It is believed that Paradise Silicon Valley will continue to perform its mission of technological innovation to drive the high-quality development of the real economy. The industry’s leading and demonstrative role, and strive to make important contributions to the construction of important windows in the province.

 

In his speech, Deputy Director Hu Xiaoxiang pointed out that Paradise Silicon Valley originated from Hangzhou, took root in Hangzhou, connected to the whole country through Hangzhou, and created a number of industry firsts in China, drawing a golden name card of 'Hangzhou Silicon Valley'. The 20-year growth of Paradise Silicon Valley has also witnessed the development of the private equity industry in Hangzhou. Private equity funds play a pivotal role in optimizing the allocation of resources and promoting the high-level circulation of technology, capital and the real economy. They are effective carriers for the vitality of labor, knowledge, technology, management and capital. Hangzhou has a huge demand and endogenous motivation for the development of private equity funds. Thanks to the accumulation of private wealth and social capital, as well as the active promotion of the corporate and financial circles, private equity funds have gradually become Hangzhou's financial characteristics. In 2019, Hangzhou ranked fourth in the country in the number of private equity fund managers (1550) filed by the China Foundation Association. The scale of private equity fund management assets in Hangzhou is second only to Beijing, Shanghai and Shenzhen, leading the country. As an important force in promoting Hangzhou's economic development, private equity investment funds represented by Paradise Silicon Valley are further exploring effective paths for the new development pattern, injecting surging impetus to promote the high-quality and high-quality development of Hangzhou. He pointed out that he hopes that private equity funds represented by Paradise Silicon Valley can on the one hand support the real economy with more professional investment capabilities, promote the transformation and upgrading of corporate listings and mergers and acquisitions, and promote high-quality economic development; on the other hand, they can regulate and divert private capital. In the physical enterprises, the general public can fully share the achievements of the new finance and build Hangzhou into a wealth management center.

 

Gao Guofei, secretary of the Xihu District Party Committee, said that the economic development of Xihu District cannot do without the help of equity investment. Private equity investment institutions represented by Paradise Silicon Valley bring high-energy capital to enterprises, not only financial support, but also technology, Management, channels, brands, and more business development opportunities are important forces supporting the innovation and development of the real economy. Xihu District has been committed to creating an 'equity investment cluster area', fully supporting and guiding equity investment funds to invest in strategic emerging industries, and making equity investment an important source of funds for promoting high-quality local economic development and an important driving force for innovative economic development. He hoped that Paradise Silicon Valley could further play its leading role in the industry, do its best in professional fields, actively guide and invest in more outstanding companies, participate in supporting corporate mergers and reorganizations, and further develop the brand of China's leading private equity investment institutions.

 

The press conference received cloud blessings from more than 20 peers and investees including Zero2IPO Group, CTC, Entrepreneur Huikang, Changchuan Technology, and Aopu, as well as congratulatory messages from the China Private Equity Investment Forum. Gao Qiang, chairman of the Zhejiang Equity Investment Industry Association, said in his speech that Paradise Silicon Valley, as a veteran private equity institution in China for 20 years, has continued to lead development with innovation, out of Zhejiang, and toward the whole country. It has not only created a precedent for private equity fund custody in China, but has also become a domestic PE supports the pioneer of mergers and acquisitions of listed companies. Mr. Bao Yue, chairman of the parent company of Paradise Silicon Valley Holdings, also delivered an enthusiastic speech.

 

Twenty years of forging ahead, twenty years of co-prosperity. The 20-year achievement is the result of the concerted efforts of the shareholders, management team and all employees of Paradise Silicon Valley. At the press conference, all shareholder representatives of Paradise Silicon Valley took the stage to jointly launch the 20th anniversary press conference. The company's president Zhang Sheng brought the senior management team and all business teams to the show, and sincerely displayed the team's style in a unique way.

 

He Xiangdong, Chairman of Paradise Silicon Valley, and Zhang Sheng, President of Paradise Silicon Valley, are the assets of Zhongda Group Co., Ltd. (600704), Caitong Securities Co., Ltd. (601108), Chuangye Huikang Technology Co., Ltd. (300451), and Hangzhou Changchuan that have always accompanied the company’s growth. Technology Co., Ltd. (300604), Zhejiang Stellite Pharmaceutical Co., Ltd. (603520), Ningbo Chuangyuan Cultural Development Co., Ltd. (300703) and other 6 partners, as well as JD Kenterui, Hangjia Group, Zhejiang Publishing Group, Hubei Five institutional investors and eight high-net-worth investors, including the Provincial High-tech Industry Investment Group Co., Ltd., awarded the Long-term Companion Award. The founder of Paradise Silicon Valley, and the first chairman Bao Chuntian, as well as the past chairman of the board, awarded the long-term companionship employee award to the 15-year and 10-year-old employees who have contributed wisdom and strength to the company's development. Zhang Bo, the vice chairman of Wutan Zhongda Group Co., Ltd., said in his speech that Paradise Silicon Valley is the most important strategic partner of Wutan Zhongda. Both parties have established good cooperation in equity investment, industrial mergers and acquisitions, and fund business. Looking forward to the future The two sides can further strengthen cooperation, complement each other's advantages, create value together, and work together to write a new chapter in development.

 

Paradise Silicon Valley has experienced 20 years of trials and hardships, and is about to start a 'new phase of life'. Twenty wins, keeps on the future. In the melodious guqin sound, the past and current chairman of Paradise Silicon Valley: Mr. Bao Chuntian, Mr. Wang Linjiang, Mr. Yuan Weigang, Ms. Yu Baohong, Mr. He Xiangdong came to the stage to celebrate the crowning ceremony. Under the new historical mission, Paradise Silicon Valley will be a brand new Adult attitude, vigorous youthful vigor and high fighting spirit to write the next wonderful chapter in life!

 

China's economy is shifting from high-speed growth to high-quality development, and higher requirements are placed on structural reforms on the financial supply side. Innovative development with high quality as the goal will be the only way to realize the Chinese dream. In 2020, the VC/PE penetration rate of Chinese listed companies exceeded 70% for the first time. This shows that equity investment has become an important promoter of the development of China's real economy. Chairman He Xiangdong said that equity investment, as an important tool to support entrepreneurship and innovation, will usher in the next golden era of development, and companies whose investment layout centers on innovation and technology will have a greater winning rate. In the future, Paradise Silicon Valley will continue to improve its professional investment capabilities, empower enterprises, build an industrial chain ecosystem, strive to invest in more future unicorns and Fortune 500 companies, and contribute fresh blood to the capital market; at the same time, give full play to itself The advantages of market resource integration parties continue to promote industrial mergers and acquisitions, transformation and upgrading, and enhance the value creation of existing listed companies, and are committed to becoming the most trustworthy asset manager in China.


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