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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.

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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.

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Dec 17, 2021

Advised on the listing and the full circulation of H shares of Shanghai Conant Optical Co., Ltd.

Advised Guotai Junan Capital Limited as sole sponsor and other underwriters on the global offering, the listing and the full circulation of H shares of Shanghai Conant Optical Co., Ltd. (stock code: 2276) (“Shanghai Conant”) on the Main Board of the Hong Kong Stock Exchange. All domestic shares of Shanghai Conant are converted into H shares for H shares full circulation. The market capitalisation of Shanghai Conant upon the listing is approximately HK$1,900 million.


Shanghai Conant is the largest resin lens manufacturers in the PRC in terms of production volume and the largest exporter in the PRC in terms of resin spectacle lens export value in 2020 and the ninth largest market player in terms of revenue from resin spectacle lens in 2020 on a global scale.


Dealing in the shares of Shanghai Conant on the Main Board of Hong Kong Stock Exchange commenced on 16 December 2021.

Dec 8, 2021

Advised the issuance of US$100 million listed bonds guaranteed by Ningbo Nanbin Group Co., Ltd

Chungs Lawyers advised the managers and the trustee on Yi Hong International Development Co., Ltd’s (壹弘國際發展有限公司) (the “Issuer”) issuance of US$100,000,000 3.50% guaranteed bonds due 2024 unconditionally and irrevocably guaranteed by Ningbo Nanbin Group Co., Ltd (寧波南濱集團有限公司) (collectively with its subsidiaries and the Issuer, the “Group”), and listed on the Hong Kong Stock Exchange.


Established in 2003 and designated to carry out land development and land consolidation in Chengguan Zhen (城關鎮) of Ninghai, the Group has since established itself as a leading primary state-owned infrastructure construction company in Ningbo Southern Binhai Economic Development Zone and plays an important role in the urbanisation and development of Ningbo Southern Binhai Economic Development Zone.


Listing of the bonds on the Hong Kong Stock Exchange commenced on 9 December 2021.


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


Dec 1, 2021

Advised Heng Yuan International Company Ltd on its issuance of US$150 million listed bonds

Chungs Lawyers advised Heng Yuan International Company Ltd (the “Issuer”) on its issuance of US$150,000,000 2.20% guaranteed bonds due 2024 unconditionally and irrevocably guaranteed by Ningbo Haishu Development and Construction Investment (Group) Co., Ltd. (寧波市海曙開發建設投資集團有限公司) (collectively with its subsidiaries and the Issuer, the “Group”), and listed on the Hong Kong Stock Exchange (stock code: 40950).


Since its establishment in 2014, the Group has been the core operating entity carrying out municipal development activities and providing public services in Haishu District of Ningbo City. Leveraging on the development of Ningbo City and Haishu District, 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 played an important role in the development of Haishu District.


Listing of the bonds on the Hong Kong Stock Exchange commenced on 3 December 2021.


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

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