In the afternoon of July 2, Anhui PE Baby Fund cooperation agreement signing forum was held in Anhui Provincial Investment Group Holding Co.,LTD. Zhang Wei, chairman of CoStone Capital, and Han Zaiwu, managing partner, attended the signing forum, and CoStone Capital successfully inaugurated the Anhui intelligent manufacturing industrial fund as fund manager.
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On May 21, the seventeenth CoStone Master Forum, which lasted for two days, was brought to a successful close in Hangzhou, Zhejiang. The theme was "Defining the Future and Surpassing Competition". Dr. Liao Jianwen, Chief Strategy Officer (CSO) of JD, and Dr. Ge Dingkun, Co-chairman of Techand Ecology & Environment and Former Professor at the China Europe International Business School (CEIBS), were invited to give lectures in the Forum.
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On May 18, the 6th China VC Summit, held by Securities Times, was held in Shenzhen, where the "Golden Eagle Award" and "New Seedling Award" of Chinese VC were presented. CoStone Capital was awarded as "The Best PE" of the year, "The Best Exit Institution" of the year, "The Best VC of the AI", "The Best VC of the Entertainment Industry" and many other honors. Its invested enterprises Such as Sense Time, Royole and Pagoda were awarded as the high-growth enterprises of the year, and its chairman Zhang Wei was awarded as the best investor of the year.
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In Anhui Province, the PE fund has played an increasingly important role in raising the proportion of direct financing and boosting the healthy development of the multi-level capital market, thus becoming an important force to support the real economy. Attracted by Anhui’s sound industrial development environment, a domestic PE firm CoStone Capital comes to invest in Anhui. By connecting “capital and industrial resources”, it continuously enlarges the amount and scale of the investments to cultivate and support start-up companies. And that continues to yield results.
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On the afternoon of March 24th, Shenzhen Angel Capital Guiding Fund was inaugurated and signed at Shenzhen Civic Center. CoStone Capital was successfully selected as one of the first Baby Fund management institutions, and Chairman Mr. Zhang Wei attended and participated in the signing ceremony.
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The auto industry is one of the few trillion-level markets, to which CoStone Capital has been paying close attention and making careful deployment.
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On March 16, CoStone Capital ¥680Mn of I&E issued by the SZSE for the record. The bond has a five-year maturity and the money raised will be used to support the real economy, with a focus on investing in innovative start-ups.
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On January 6 and 7, the sixteenth CoStone Master Forum witnessed informative talks on The Value of Life in Western Culture. Professor Xu Jilin at East China Normal University, Professor He Huaihong at Peking University, Professor Sun Xiangchen at Fudan University and Professor Wang Qingjie at the Chinese University of Hong Kong explored the topic deeply in the forum.
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With CEO Zhang Wei’s unremitting efforts over the past 15 years, CoStone Capital has grown from nothing to the scale it has today, with more than 40 funds under management, a total worth of over 30 billion yuan. In the industry, CoStone Capital is known for “would rather make a focused investment than a micro one.” Among over 90 enterprises that were invested by CoStone during the past 15 years, only one of them had a loss of principal. Zhang Wei attributed his key of success to “good luck and supports from decent friends”.
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On December 8, Forbes China released its "Best Venture Capitalists in China" list, which aims to find the most successful fund investors in China with the ability to discover and manage funds and deliver substantial returns. Following the same principles, this year's list focuses on performance over the past five years, from 2013 to August 2017.
READThe year 2019 marks the fortieth anniversary of China’s Reform &Opening-Up, once again, we meet at the turning point of history. What’s the next step for the game, is there any clear guidance? The answer is affirmative.
Our country is enjoying a good momentum of development, which does not come from the Washington Consensus nor the Beijing Consensus. China’s experience has proved that both the visible hand and the invisible hand are crucial: the visible hand, stands for the government-led reform, and would yield benefits for reform and opening up; the invisible hand, stands for the Marginal Power represented by the private sector, and would improve economic efficiency and tax collection, create jobs and employment opportunities.
Provided that we want to protect and expand the benefits form reform, three simple but mandatory agreements are to be made and followed: No.1 Private ownership must be recognized, protected and treated equally with public ownership constitutionally, both ownerships are scared and inviolable;No.2 Make further clarification of the principal position of market economy, “deepen economic system reform by centering on the decisive role of the market in allocating resources”, as President Xi addressed in the third Plenary Session of the 18th CPC Central Committee;No.3 Implement the guiding principles of “comprehensively promoting law-based governance” of the fourth plenum. The rule of law is essential for economic growth, irreplaceable to protect private ownership, and necessary to encourage innovation and entrepreneurship.
Above are three rules for us to avoid falling into the Middle-income Trap. Assuming that we are breaking systematic barriers to private enterprises’ participation in market economy, and boosting innovation and entrepreneurship of our society, then we are heading towards a promoting direction. We are marching in the path of light, regardless of the ups and downs of Sino-US relationship, the drop in GDP growth rate, or the monetary policy.
These principals also apply on knowing how better to run a business: don’t be hedged by rules and regulations at the beginning, pay more attention to your survival, and you’ll learn more when you start your second business.
For many years, Huawei has been the only Chinese company on the list of the Top 50 R&D Spenders. Regardless of the economy and its income, what Huawei has been doing is investing in its future, dedicated to R&D, continuously and resolutely. This provisional work underscores Huawei’s accomplishments, making Huawei anindustry leader.
So, there are standard answers on how to run a company,which could be summarized as concentration and professional dedication, continuous investment on innovation and trying harder in R&D. Entrepreneurship is also important, every single company needs entrepreneurs to push aside all obstacles and difficulties, to implement strategies and ideas. We, as investors, are destined to look for such outstanding entrepreneurs and their companies, invest in them and partner with them.
At this key point of history, a country, a company, or asingle individual, will all need to find the right path. Four decades after the Reform and Opening-up, it’s time to learn from our experience and stop “wadding across
