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.

Sep 27, 2021

Advised Ever Harvest Group Holdings Limited (stock code: 1549) on a top-up placing

Advised Ever Harvest Group Holdings Limited (stock code: 1549) (“Ever Harvest”) on a top-up placing of existing shares and subscription for new shares. The shares of Ever Harvest placed by Alpha Financial Group Limited (as the Placing Agent) represent approximately 3.23% of the issued share capital of Ever Harvest as enlarged by the subscription. Ever Harvest intends to use the net proceeds from the subscription for (i) the repayment of its existing borrowings; and (ii) general working capital of the Group .

Ever Harvest is a company listed on the Main Board of The Stock Exchange of Hong Kong Limited. Ever Harvest Group, having its base in Hong Kong, principally provides Sea Freight Services to its customers in Southern China, with Hong Kong, Nansha and Shenzhen being its major transshipment ports. The main business of Ever Harvest Group contains feeder shipping services, carrier owned container services, and sea freight forwarding agency services, with its business operations principally located in the Southern China, including Fujian Province, Guangdong Province, Guangxi Zhuang Autonomous Region and Hainan Province.

Aug 20, 2021

Advised Ever Harvest Group Holdings Limited (stock code: 1549) on a top-up placing

Advised Ever Harvest Group Holdings Limited (stock code: 1549) (“Ever Harvest”) on a top-up placing of existing shares and subscription for new shares. The shares of Ever Harvest placed by Alpha Financial Group Limited (as the Placing Agent) represent approximately 6.67% of the issued share capital of Ever Harvest as enlarged by the subscription. Ever Harvest intends to use the net proceeds from the subscription for (i) potential acquisition of additional vessel(s); (ii) the repayment of its existing borrowings; and (iii) general working capital of Ever Harvest Group.

Jul 8, 2021

Advised Xiezhong International Holdings Limited on its privatisation

Advised Xiezhong International Holdings Limited (“Xiezhong International”) (stock code: 3663) on its privatisation by way of a scheme of arrangement, and the proposal for privatisation has been approved by its shareholders in the court meeting and the extraordinary general meeting, and approved by the Grand Court of the Cayman Islands. The shares of Xiezhong International have been withdrawn from listing on the Hong Kong Stock Exchange since 4:00 p.m. on 7 July 2021.

Xiezhong International through its subsidiaries is principally engaged in the development, production and sales of automotive HVAC systems and a range of automotive HVAC components, the provision of technical testing and related services and the operation of 4S dealership stores in the PRC.