In Q1 2023, by deal value, the top three sectors were advanced manufacturing & mobility, real estate, hospitality & construction, and TMT, accounting for 73% of the total deal value. Larger increases were recorded in the sectors of advanced manufacturing & mobility, and real estate, hospitality & construction, up 87% and 191% YOY, respectively. Some major deals during this period include: 1) a Chinese enterprise acquired the power conversion division of a known Swiss company located in the US to improve its product portfolio, accelerate its development in the power industry and North American market; 2) a Chinese real estate management enterprise acquired a minority stake of a logistics and industrial new economic real estate platform in Vietnam; 3) a Chinese enterprise acquired partial shares of a container terminal in Egypt, to further strengthen its terminal portfolio; 4) a Chinese company acquired a German automotive parts company to promote its industrial chain integration and consolidate its development advantages in the field of electric vehicles.
By deal volume, 61% of the total took place in the top three sectors, namely TMT, advanced manufacturing & mobility, and financial services. The number of TMT deals increased 34% YOY, but the proportion of undisclosed transactions increased by seven percentage points compared to the same period last year, which is also part of the reason for the decrease in value of TMT deals.