MediTrust Health, a Shanghai-based online healthcare payment and pharmacy platform, secured RMB 2 billion ($300) in Series C as the company plans for an IPO by the end of this year. Boyu Capital, Lillly Asia Ventures, and CICC participated in the round. The funding round came five months after the company raised RMB 1 billion in Series B, in which Ant Group and Sinovation Ventures participated. [KrAsia]

Chinese search engine company Sogou said Monday it expects to complete a merger with Tencent in the second half of this year. According to the merger deal agreement, a subsidiary of Tencent named TitanSupernova will buy out all Sougou’s shares from its current controlling shareholders. After the merger, Sogou will become a private firm owned by Tencent and delist from the New York Stock Exchange. Initiated last September, the deal is worth $3.5 billion and cleared by Chinese market regulators in July. [Sogou]

Cloud Village Inc, NetEase’s music streaming unit, will postpone a listing in Hong Kong “due to volatile trading in China’s major tech companies,” according to Reuters. A NetEase spokeswoman declined to comment when reached by TechNode on Monday. The company was approved for listing in Hong Kong on Aug. 1 and was expected to raise about $1 billion. [Reuters]

China’s top antitrust regulator, State Administration for Market Regulation (SAMR), is weighing a roughly $1 billion fine on food-delivery giant Meituan for allegedly abusing its dominant market position, the Wall Street Journal reported citing sources. The Hong Kong-listed company could be required to revamp its operations and end practices like “forced exclusivity,” said the report. [WSJ]