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 18, 2022

Advised SEMK on certain litigation matters in connection with its Listing on the Main Board

On 17 January 2022, Semk Holdings International Limited (“SEMK”) successfully listed on the Main Board of The Stock Exchange of Hong Kong Limited (stock code: 2250).

In this project, Chungs Lawyers (in association with DeHeng Law Offices) acts as the legal advisers to SEMK as to Hong Kong laws in respect of certain litigation matters.

SEMK is the second largest domestic character IP company and ranked fifth among all character IPcompanies in China, in terms of character licensing revenue in 2020, and with a market share of around 2.4% according to the Frost & Sullivan Report.

IPs and its brand are at theheart of the business of SEMK, and its business comprises the creation, design, licensing, brand management and marketing of its self-created, self-owned and iconic B.Duck Family Characters across multi channels. Since B.Duck gained in popularity in the Mainland China and Hong Kong market, SEMK has created 25 other characters, being family members and friends of B.Duck, including but not limited to Buffy, B.Duck Baby, Dong Duck and Bath’N Duck.

Chungs Lawyers (in association with DeHeng Law Offices) worked closely and actively with other professional parties to provide professional, comprehensive and efficient legal services for this project.

Jan 18, 2022

Advised Wenzhou Lucheng District State-owned Holding Group Co., Ltd. on its issuance of listed bonds

Chungs Lawyers, the associated firm of DeHeng in Hong Kong, advised Wenzhou Lucheng District State-owned Holding Group Co., Ltd. on its second issuance of CNY$972,000,000 4.10% credit enhanced notes due 2025 with the benefit of an irrevocable standby letter of credit issued by Bank of Hangzhou Co., Ltd Wenzhou Branch (杭州銀行溫州分行), and listed on the Singapore Exchange.

Established in 1989, Wenzhou Lucheng District State-owned Holding Group Co., Ltd. is a major investment, construction and state-owned assets operation platform, and the core operating entity carrying out urban development activities and providing public services in Lucheng District of Wenzhou City（溫州市鹿城區）. In 2019 and 2020, Wenzhou City had the third highest GDP among all cities in Zhejiang Province, whilst Lucheng District had the highest per capita disposable income among all municipal districts of Wenzhou City.

Partner of Chungs Lawyers, the associated firm of DeHeng in Hong Kong, Lily Liang, led the team together with partner of DeHeng Law Offices (Hangzhou), Junfu Huang. The team includes Tracy Wong, Jason Wong, Lawrence Lam, Dexter Yeung, Lilian Kwong, Catherine Kwok, Amber Cao, Evelyn Fan, Fairy Wang, and Jeff Wang.

Jan 14, 2022

Advised China Fordoo Holdings Limited on the acquisition of IP rights and fixed assets

Recently, Chungs Lawyers in association with DeHeng Law Offices advised China Fordoo Holdings Limited (“China Fordoo”) on the acquisition of intellectual properties rights and fixed assets in respect of the production of zinc-bromine flow battery (锌溴液流电池) at a consideration of RMB53.60 million (“Acquisition”). The Acquisition involves the entering of (a) the intellectual property rights transfer agreement, pursuant to which, China Fordoo agreed to acquire patents, software copyrights and registered trademarks etc. in relation to zinc-bromine flow battery; and (b) the fixed assets transfer agreement, pursuant to which, China Fordoo agreed to acquire machineries and equipment that forms a zinc-bromine flow battery production line (collectively, the “Agreements”). The transactions contemplated under the Agreements constituted a disclosable transaction under Chapter 14 of the Rules Governing the Listing of Securities on the Stock Exchange of Hong Kong Limited.

China Fordoo is a company listed on the Main Board of The Stock Exchange of Hong Kong Limited (stock code: 2399) and is principally engaged in the design, sourcing, manufacturing and sales of its branded menswear in the PRC.