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.

May 11, 2021

Advised Holly Futures Co., Ltd. in relation to its proposed A share offering and listing

Advised Holly Futures Co., Ltd. (“Holly Futures”) in relation to its proposed A share offering and listing. Holly Futures proposed to offer a maximum of 120,000,000 A shares by way of specific mandate to be listed on the Shenzhen Stock Exchange. The proposed A share offering and listing are subject to the approval by the China Securities Regulatory Commission and other relagutory authories in the PRC. Upon completion, Holly Futures will be dual-listed in both Hong Kong and the PRC.

Holly Futures is a Hong Kong-listed company (stock code: 3678) which principally engages in commodity futures brokerage, financial futures brokerage, futures investment consulting, asset management, fund sales in the PRC. The proposed A share offering and listing is intended to raise funds to strengthen the capital base of Holly Futures and its domestic subsidiaries, as well as for its continuing growth and business development.

May 7, 2021

Advised China Dredging Environment Protection Holdings Limited on adoption of share option scheme

Advised China Dredging Environment Protection Holdings Limited (“China Dredging”) on the adoption of a new share option scheme due to the upcoming expiration of the existing share option scheme.

China Dredging is a company listed on the Main Board of The Stock Exchange of Hong Kong Limited. China Dredging is principally engaged in capital and reclamation dredging businesses.

May 4, 2021

Advised L.K. Technology Holdings Limited (stock code: 558) on a top-up placing

Advised L.K. Technology Holdings Limited (stock code: 558) (“L.K. Tech”) on a top-up placing. The shares of L.K. Tech placed by the Placing Agent represent approximately 4.79% of the issued share capital of L.K. Tech as enlarged by the subscription.

The net proceeds from the subscription are approximately HK$562.23 million. L.K. Tech intends to use the net proceeds from the subscription for increasing production efficiency and capacity of the group’s business, and as general working capital of the group.

L.K. Tech is a company listed on the Main Board of The Stock Exchange of Hong Kong Limited. L.K. Tech Group is principally engaged in the design, manufacture and sales of hot chamber and cold chamber die-casting machines, plastic injection moulding machines, computerised numerical controlled machining centres and related accessories. L.K. Tech Group is also engaged in steel casting.