RECENT NEWS | DEHENG HONG KONG

19 Nov 2024

Advised Huaibei GreenGold Industry Investment Co., Ltd.* (淮北綠金產業投資股份有限公司) on deemed disposal of equity interest in its subsidiary

DeHeng Hong Kong advised Huaibei GreenGold Industry Investment Co., Ltd.* (淮北綠金產業投資股份有限公司) (“Huaibei GreenGold”) on the capital injection and deemed disposal of equity interest in Huaibei Tongming Mining Co., Ltd.* (淮北通鳴礦業有限公司) (“Huaibei Tongming”), a subsidiary of Huaibei GreenGold, at a consideration of approximately RMB84 million (the “Capital Injection”). The principal business of Huaibei Tongming is mining and processing of aggregate products.

The Capital Injection constituted a major transaction under Chapter 14 and a connected transaction under Chapter 14A of the Rules Governing the Listing of Securities on the Stock Exchange of Hong Kong Limited (the “Listing Rules”). The Capital Injection was exempted from independent shareholders’ approval pursuant to Rule 14A.101 of the Listing Rules and was approved by way of a written shareholders’ approval in lieu of holding a general meeting pursuant to Rule 14.44 of the Listing Rules.

Huaibei GreenGold is a company listed on the Main Board of The Stock Exchange of Hong Kong Limited (stock code: 2450). Huaibei GreenGold is a construction materials provider with state-owned background located in Huaibei City, Anhui Province and one of the four largest construction aggregate producers in Huaibei City and its surrounding cities (including Suzhou City and Bozhou City) in 2023.

The deal is led by lead partners Ernest Chung and Stephen Kei of DeHeng Hong Kong, and supported by the team members including Phoebe Lo and Daniel Ting. DeHeng Hong Kong maintained a close connection with Huaibei GreenGold and other professional parties in this deal and provided professional, comprehensive and efficient legal services for this deal.

Apr 26, 2022

Advised Shengzhou Communications Investment and Development on its issuance of listed bonds

Chungs Lawyers, the associated firm of DeHeng Law Offices in Hong Kong, advised Shengzhou Communications Investment and Development Group Co., Ltd. (嵊州市交通投资发展集团有限公司) (the “Issuer”, together with its subsidiaries, the “Group”) on its issuance of US$142,000,000 3.50% credit enhanced bonds due 2025 supported by an irrevocable standby letter of credit provided by Bank of Ningbo Shaoxing Branch and listed on the Stock Exchange of Hong Kong Limited (the “Hong Kong Stock Exchange”).

Established in 1998, the Issuer is wholly owned by Shengzhou Investment Holding Co., Ltd. (嵊州市投资控股有限公司). The Group is one of the major operating entities for urban development and transportation infrastructure construction in Shengzhou City, including infrastructure construction, provision of accommodation service and sale of construction materials. Leveraging on the development of Shengzhou City and Zhejiang Province, strong shareholder’s support and its diversified businesses, the Group has undertaken and completed a large number of construction projects and played an important role in the development of Shengzhou City.

Listing of the bonds on the Hong Kong Stock Exchange commenced on 26 April 2022 (Stock code: 5195).

The Partner of Chungs Lawyers, the associated firm of DeHeng Law Offices in Hong Kong, Lily Liang, led the team includes Jason Wong, Vanessa Lai, Catherine Kwok, Dexter Yeung, Lilian Kwong, Evelyn Fan, Fairy Wang, Jeff Wang, Andy Kwok, Neil Wang and Sherry Zhang.

Apr 26, 2022

Advised on US$50 million listed bonds guaranteed by Xiangshan County Binhai Investment Co., Ltd.

Chungs Lawyers, the associated firm of DeHeng Law Offices in Hong Kong, advised the Managers and Trustee on Peng Ying International Development Company Limited’s (蓬瀛国际发展有限公司) (the “Issuer”) issuance of US$50,000,000 4.49% guaranteed bonds due 2025 guaranteed by Xiangshan County Binhai Investment Co., Ltd. (象山县滨海投资有限公司) (the “Guarantor”, together with its subsidiaries, the “Group”) and listed on the Stock Exchange of Hong Kong Limited (the “Hong Kong Stock Exchange”) and Chongwa (Macao) Financial Asset Exchange Co., Ltd. (the “MOX”).

Established in 2007, the Group is a major construction, management and operation platform of housing and property in Xiangshan County and is wholly owned by the Xiangshan County SAMC (象山县国有资产管理中心). The Group is also the core operating entity carrying out housing and government-supported facilities constructions in Xiangshan County. Leveraging on the development of Zhejiang Province and Xiangshan County, strong shareholder’s support and its diversified businesses, the Group has undertaken and completed a large number of housing construction and management projects and played an important role in the development of Xiangshan County.

Listing of the bonds on the Hong Kong Stock Exchange (Stock code: 5191) and the MOX (Stock code: MOXLB2215) commenced on 22 April 2022.

Mar 15, 2022

Advised Underwriters in Assisting Yan’an Tourism (Group) Co., Ltd. on its issuance of listed bonds

Updated: Apr 7, 2022

Chungs Lawyers, the associated firm of DeHeng Law Offices in Hong Kong, advised Yan’an Tourism (Group) Co., Ltd. (延安旅游(集团)有限公司) (the “Issuer”, together with its subsidiaries, the “Group”) on its issuance of US$77,000,000 3.90% credit enhanced bonds due 2025 supported by an irrevocable standby letter of credit provided by Bank of Xi’an Co.,Ltd. and listed on the Stock Exchange of Hong Kong Limited (the “Hong Kong Stock Exchange”).

Established in 2020, the Issuer is wholly owned by Yan’an City Construction Investment (Group) Co., Ltd. (延安城市建设投资(集团)有限责任公司). The Group is the principal operating platform for developing tourism resources in Yan’an City, mainly engaging in the management and operation of tourist attractions and the development of tourism markets. The Group primarily focuses on the management and operation of four key scenic areas in the city, including Baota Mountain Scenic Area (宝塔山旅游景区), Qingliang Hill Scenic Area (清凉山旅游景区), Wanhua Mountain Scenic Area (万花山旅游景区) and Dugong Temple Scenic Area (杜公祠旅游景区). The Group’s business includes management and operation of scenic areas, hotel business, travel agency business, project construction business and sales business.

Listing of the bonds on the Hong Kong Stock Exchange will be commenced on 11 March 2022 (Stock code: 5023).

The Partner of Chungs Lawyers, the associated firm of DeHeng Law Offices in Hong Kong, Lily Liang, led the team includes Tracy Wong, Jason Wong, Vanessa Lai, Catherine Kwok, Dexter Yeung, Lilian Kwong, Amber Cao, Evelyn Fan, Fairy Wang, Jeff Wang and Andy Kwok.