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Government
gov.cn

Investments

3

Portfolio Exits

2

Funds

1

Partners & Customers

10

About Government of China

Government of China is the official government of The People's Republic of China.

Headquarters Location

Beijing, Beijing,

China

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Latest Government of China News

Tonisity Obtains Import Approval from The Government of China for DoggyRade, KittyRade, YummyRade and DoggyRade Pro Products

Jan 9, 2023

Dublin, Ireland--(Newsfile Corp. - January 9, 2023) - Tonisity International Limited ("Tonisity"), an animal health science and nutrition company based in Ireland, is pleased to announce that, following its news release dated September 29, 2022, the General Administration of Customs in the People's Republic of China ("GACC") has approved the importation of Tonisity's DoggyRade, KittyRade, YummyRade and DoggyRade Pro companion animal products. The Ministry of Agriculture and Rural Affairs in China approved the registration of DoggyRade, KittyRade and DoggyRade Pro in 2021, which enabled Tonisity to legally sell these products into the Chinese market. Having now obtained approval to import DoggyRade, KittyRade, YummyRade and DoggyRade Pro into China, Tonisity is now positioned to immediately accelerate sales of these products into one of the largest pet markets in the world. Tonisity intends to begin selling these products into the Chinese market in Q1 of 2023. China is one of the largest markets in the world for companion animal products, with over 100 million pet dogs and cats in urban China alone. The market for pet food supplies, medicines and services in China was worth nearly US$26.5 billion in 2020 and the market experienced a compound annual growth rate (CAGR) of over 30% between 2010 and 2020. [1] The CAGR for the companion animal sector in China is expected to continue to be high given a number of durable trends, including rising disposable incomes, more people living alone and buying pets, and younger pet owners willing to spend more money on their pets. About Tonisity's Companion Animal Products Tonisity produces the world's first isotonic, prebiotic drink products that are very palatable for dogs and cats. The first three products are marketed as over-the-counter/retail/direct-to-consumer products. They are: DoggyRade - a delicious, prebiotic isotonic (with electrolytes), low-calorie drink that provides digestive support and general health benefits to dogs. The unique formula encourages fast hydration and recovery after exercise and exertion. KittyRade - a very palatable prebiotic, isotonic drink for cats that encourages them to drink more, which is important given that approximately one-third of cats suffer from health issues related to not drinking enough water. It also includes essential amino acids and electrolytes. YummyRade - a very tasty, low fat and low-calorie sauce to go over any pet food, but particularly those which are bland and dry. It is ideal for cats and dogs on specific diets. It also includes essential amino acids and prebiotics. The fourth product is: DoggyRade Pro - a non-prescription isotonic rehydration drink to treat dogs who are unwell and have digestive health issues. This product is normally sold through veterinarians. The products noted above are currently marketed in 25 languages, from Arabic to Swedish. Within the first 12 months of launch in January 2021, the products have won three industry awards in the United Kingdom and the United States. DoggyRade, KittyRade, YummyRade and Tonisity's other companion animal products are also available in a number of pet chains and other retail stores in Europe, as well as the US-based e-commerce site, www.chewy.com and www.amazon.com . Arie Halpern, CEO of Tonisity, comments: "Having received approval to import our patented pet products from the government of one of the largest companion animal markets in the world, Tonisity is poised to accelerate sales in this growing sector, as well as the swine sector. These novel products have proven technology that improves the health and well-being of cats and dogs. We are pleased to have achieved this important milestone and will continue to work tirelessly with our joint venture partners to increase our sales in China, while working to obtain regulatory permits for the rest of our products. Tonisity is making further progress in becoming a leading global animal health and science company." Further updates will be provided in the near future. For More Information on Tonisity Tonisity is an animal health and nutrition company based in Ireland that is currently focusing its patented technology in two specific markets: (1) isotonic products for the enhancement of swine production; and (2) novel companion animal nutrition products. Tonisity is focused on creating positive physiological changes by addressing the issue of intestinal health of young animals, thus improving their overall health, leading to better lifetime performance. With respect to novel companion animal products, Tonisity is poised to become the first mover and market leader in a targeted nutrition approach for pets - which is a rapidly growing market across the globe. For more information on Tonisity's isotonic business, visit www.tonisity.com . For more information on Tonisity's companion animal business, visit www.doggyrade.com . ON BEHALF OF THE BOARD "Arie Halpern" Forward-Looking Statements This press release contains forward-looking statements and information that are based on the beliefs of management and reflect Tonisity's current expectations. When used in this press release, the words "estimate", "project", "belief", "anticipate", "intend", "expect", "plan", "predict", "may" or "should" and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. The forward-looking statements and information in this press release include information relating to the business plans of Tonisity, including expansion in China and Taiwan, the processing of products in China and the development of new product lines in both the swine and companion animal product lines. Such statements and information reflect the current views of Tonisity. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the following risks: Tonisity's ability to raise capital to maintain its growth and business objectives, Tonisity's ability to negotiate and enter into binding agreements with counterparties in geographic markets that are part of its expansion plans, Tonisity's ability to operate in the Chinese market, changes in laws and regulations that could adversely affect Tonisity's business, growth or results of operations, Tonisity's ability to attract and retain customers and consumers and impacts of the COVID-19 pandemic. There are a number of important factors that could cause Tonisity's actual results to differ materially from those indicated or implied by forward-looking statements and information. Such factors include, among others: limited business history of Tonisity; risks related to Tonisity's corporate strategy including that previous and future acquisitions do not meet expectations; disruptions or changes in the credit or security markets; results of operation activities; unanticipated costs and expenses, fluctuations in commodity prices, and general market and industry conditions; protection of Tonisity's intellectual property; disruption at any of Tonisity's facilities including as a result of the current COVID-19 pandemic; effect of public health crises, including the current COVID-19 pandemic; Tonisity's supply chain management; availability of suppliers of raw materials; limited or disrupted supply of key ingredients; the availability of key ingredients for Tonisity's products; failure to expand production capacity; effect of product innovation; failure to retain current customers and/or recruit new customers potential volatility of share price; no assurance of active market for shares; dividends; global financial conditions; the effect of product labelling requirements; price of raw materials; consumer trends; publication of inaccurate or unfavourable research and reports; management and conflicts of interest. Tonisity cautions that the foregoing list of material factors is not exhaustive. When relying on Tonisity's forward-looking statements and information to make decisions, readers should carefully consider the foregoing factors and other uncertainties and potential events. Tonisity has assumed that the material factors referred to in the previous paragraph will not cause such forward-looking statements and information to differ materially from actual results or events. However, the list of these factors is not exhaustive and is subject to change and there can be no assurance that such assumptions will reflect the actual outcome of such items or factors. The forward-looking information contained in this press release represents the expectations of Tonisity as of the date of this press release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While Tonisity may elect to, it does not undertake to update this information at any particular time, except as required by applicable laws.

Government of China Investments

3 Investments

Government of China has made 3 investments. Their latest investment was in State Fuel Cell Technology Corporation as part of their Series B on December 12, 2022.

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Government of China Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

12/9/2022

Series B

State Fuel Cell Technology Corporation

$647.6M

Yes

2

8/7/2017

Series D

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$99M

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10

3/4/2008

Growth Equity

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$99M

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10

Date

12/9/2022

8/7/2017

3/4/2008

Round

Series B

Series D

Growth Equity

Company

State Fuel Cell Technology Corporation

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Amount

$647.6M

$99M

$99M

New?

Yes

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Co-Investors

Sources

2

10

10

Government of China Portfolio Exits

2 Portfolio Exits

Government of China has 2 portfolio exits. Their latest portfolio exit was Smartisan Technology on April 26, 2019.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

4/26/2019

Acquired

$99M

2

12/25/2009

IPO

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$99M

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10

Date

4/26/2019

12/25/2009

Exit

Acquired

IPO

Companies

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Valuation

$99M

$99M

Acquirer

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Sources

2

10

Government of China Fund History

1 Fund History

Government of China has 1 fund, including National Green Development Fund.

Closing Date

Fund

Fund Type

Status

Amount

Sources

3/8/2020

National Green Development Fund

$12,590M

1

Closing Date

3/8/2020

Fund

National Green Development Fund

Fund Type

Status

Amount

$12,590M

Sources

1

Government of China Partners & Customers

10 Partners and customers

Government of China has 10 strategic partners and customers. Government of China recently partnered with Scienjoy on March 3, 2021.

Date

Type

Business Partner

Country

News Snippet

Sources

3/15/2021

Licensee

Hong Kong

Scienjoy Launches Licensing And E-Commerce Partnership With The Great Wall Of China

BEIJING , March 15 , 2021 / PRNewswire / -- Scienjoy Holding Corporation , a leading live entertainment mobile streaming platform in China , today announced a partnership with the Great Wall of China , to promote the Great Wall , a UNESCO World Heritage site , at home and abroad through cultural products , e-commerce sales , online and offline activities , co-branding and more .

1

1/16/2018

Partner

China

Microsoft, Alibaba AI programs beat humans in a Stanford reading test

The Chinese government has outlined a plan to create a $ 150 billion AI industry by 2030 in partnership with private companies such as Alibaba and Tencent .

3

2/23/2017

Partner

Taiwan

HTC VIVE(TM) Partners with China National Tourism Administration to Broadly Enable VR Sale to the Travel Industry

`` It is a great honor for us to partner with China National Tourism Administration and Renwoyou to bring this pioneering VR experience to another untapped industry , '' says Alvin W. Graylin , China Regional President of Vive , HTC Corporation .

1

10/16/2014

Partner

United States, and China

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10

12/13/2010

Partner

United States

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10

Date

3/15/2021

1/16/2018

2/23/2017

10/16/2014

12/13/2010

Type

Licensee

Partner

Partner

Partner

Partner

Business Partner

Country

Hong Kong

China

Taiwan

United States, and China

United States

News Snippet

Scienjoy Launches Licensing And E-Commerce Partnership With The Great Wall Of China

BEIJING , March 15 , 2021 / PRNewswire / -- Scienjoy Holding Corporation , a leading live entertainment mobile streaming platform in China , today announced a partnership with the Great Wall of China , to promote the Great Wall , a UNESCO World Heritage site , at home and abroad through cultural products , e-commerce sales , online and offline activities , co-branding and more .

Microsoft, Alibaba AI programs beat humans in a Stanford reading test

The Chinese government has outlined a plan to create a $ 150 billion AI industry by 2030 in partnership with private companies such as Alibaba and Tencent .

HTC VIVE(TM) Partners with China National Tourism Administration to Broadly Enable VR Sale to the Travel Industry

`` It is a great honor for us to partner with China National Tourism Administration and Renwoyou to bring this pioneering VR experience to another untapped industry , '' says Alvin W. Graylin , China Regional President of Vive , HTC Corporation .

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Sources

1

3

1

10

10

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