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.

Jan 25, 2022

Advised Dongtai Communication Investment And Construction Group Co., Ltd. on its issuance of bonds

Chungs Lawyers, the associated firm of DeHeng Law Offices in Hong Kong, advised Dongtai Communication Investment And Construction Group Co., Ltd.（东台市交通投资建设集团有限公司) (the “Issuer”, together with its subsidiaries, the “Group”) on its issuance of US$65,000,000 5.8% bonds due 2022 (the “Bonds”) listed on the Stock Exchange of Hong Kong Limited (the“Hong Kong Stock Exchange”).

Established in 2007, the Issuer is a state-owned company owned by the Dongtai SAMC and the Dongtai Transport Planning and Construction Office. The Group is primarily engaged in four business segments, namely, (i) project construction, (ii) public transportation operation, (iii) vehicle inspection and test and (iv) other miscellaneous businesses. It is also the main investing and constructing entity of transportation infrastructures in Dongtai City. The Group has built up a strong presence and achieved a leading market position in the urban infrastructure industry in Dongtai City. Leveraging on its extensive industry experience, the Issuer believes the Group will continue to play an important role in the development of Dongtai City.

Listing of the bonds on the Hong Kong Stock Exchange commenced on 24 January 2022 (Stock code: 4439).

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, Lawrence Lam, Catherine Kwok, Dexter Yeung, Lilian Kwong, Amber Cao, Evelyn Fan, Fairy Wang and Jeff Wang.

Jan 21, 2022

Advised Fuzhou Digital Economy Investment Group Co., Ltd on its issuance of listed bonds

Chungs Lawyers advised Fuzhou Digital Economy Investment Group Co., Ltd (抚州市数字经济投资集团有限公司) (the “Issuer”, together with its subsidiaries, the “Group”) on its issuance of US$98,000,000 1.98% credit enhanced bonds due 2025 with the benefit of an irrevocable standby letter of credit provided by Industrial and Commercial Bank of China Limited, Jiangxi Branch, and listed on the Stock Exchange of Hong Kong Limited (the “Hong Kong Stock Exchange”).

Established in 2015, the Issuer is a major construction, investment and operation platform of infrastructures in Fuzhou City and is wholly owned by the Fuzhou City SASAC (抚州市人民政府国有资产监督管理委员会). The Group is also the core operating entity carrying out infrastructure constructions in Fuzhou City. Leveraging on the development of Jiangxi Province and Fuzhou City, strong shareholder’s support and an experienced management team of the Group, the Group has undertaken and completed a large number of municipal development projects and plays an important role in the development of Fuzhou City.

Listing of the bonds on the Hong Kong Stock Exchange commenced on 24 January 2022 (Stock code: 4429).

The Partner of Chungs Lawyers Lily Liang, led the team including Tracy Wong, Jason Wong, Lawrence Lam, Catherine Kwok, Dexter Yeung, Lilian Kwong, Amber Cao, Evelyn Fan, Fairy Wang and Jeff Wang.

Jan 20, 2022

Advised Guiyang Economic Development Zone Urban Construction Investment on its issuance of bonds

Chungs Lawyers, the associated firm of DeHeng in Hong Kong, advised Guiyang Economic Development Zone Urban Construction Investment (Group) Co., Ltd. (贵阳经济开发区城市建设投资（集团）有限公司) (the “Issuer”, together with its subsidiaries, the “Group”) on its issuance of bonds.

Established in 2003, the Issuer engages in infrastructure construction, affordable housing construction and primary land development in the Guiyang Economic and Technological Development Zone (“Guiyang ETDZ”), a nationally renowned economic and technological development zone. Leveraging on the development of Guiyang City and Guiyang ETDZ, strong shareholder’s support, diversified funding channels and an experienced management team of the Group, the Group has undertaken and completed a large number of municipal development projects and played an important role in the development of Guiyang ETDZ.

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