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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.

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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Chungs Lawyers, the associated firm of DeHeng in Hong Kong, being the legal advisers to the Joint Lead Managers and the Trustee, 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 U.S.$96,000,000 6.0% credit enhanced bonds due 2025 with the benefit of an irrevocable standby letter of credit provided by Bank of Jiujiang Co., Ltd., and listed on the Stock Exchange of Hong Kong Limited (the “Hong Kong Stock Exchange”).


Established in 2015, the Issuer is the core operating entity carrying out infrastructure constructions 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). 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 19 September 2022 (Stock code: 5529).


The Partner of Chungs Lawyers, the associated firm of DeHeng Law Offices in Hong Kong, Lily Liang, led the team including Jason Wong, Vanessa Lai, Darryl Ting, Christina Yip, Connie Ip, Catherine Kwok, Dexter Yeung, Lilian Kwong, Fairy Wang, Evelyn Fan, Jeff Wang, Andy Kwok, Neil Wang, Sherry Zhang, Liz Tang and Vince Chan.

Chungs Lawyers, the associated firm of DeHeng Law Offices in Hong Kong, advised the issuer on Ganzhou Urban Investment Holding Group Co., Ltd. (赣州城市投资控股集团有限责任公司) (the “Issuer”) on its issuance of USD250,000,000 6.0% sustainable notes due 2025, and listed on the Stock Exchange of Hong Kong Limited (the “Hong Kong Stock Exchange”).


The Issuer is the pillar enterprise that carries out financing, investment, construction, operation and management of infrastructure construction and land development in the region. Since its establishment, the Issuer has continued to benefit from its strategic relationship with and received strong support from the Ganzhou Municipal Government. The Issuer has participated in a wide range of infrastructure construction projects including key public facilities, major roadways, railway stations and affordable housings.


Listing of the notes on the Hong Kong Stock Exchange (Stock code: 5526) commenced on 15 September 2022.


The partner of Chungs Lawyers, the associated firm of DeHeng Law Offices in Hong Kong, Lily Liang, led the team including Jason Wong, Vanessa Lai, Darryl Ting, Christina Yip, Connie Ip, Catherine Kwok, Dexter Yeung, Lilian Kwong, Fairy Wang, Evelyn Fan, Jeff Wang, Andy Kwok, Neil Wang, Sherry Zhang, Liz Tang and Vince Chan.

Chungs Lawyers, the associated firm of DeHeng Law Offices in Hong Kong, advised Jincheng State-owned Capital Investment Operation Co., Ltd. (晋城市国有资本投资运营有限公司) (the “Issuer”) on its issuance of USD200,000,000 6.9% bonds due 2025, and listed on the Stock Exchange of Hong Kong Limited (the “Hong Kong Stock Exchange”).


The Issuer is one of the major investment, financing and infrastructure construction state-owned entities in Jincheng City. It is a state-owned enterprise wholly owned by and under the direct management and supervision of the State-owned Assets Supervision and Administration

Office of Jincheng City Government(晋城市人民政府国有资产监督管理委员会). Since its establishment in March 2004, the Issuer has played an important role in implementing Jincheng City Government’s blueprint for urban planning and municipal construction in Jincheng City and has received strong financial and operational support from Jincheng City Government.


Listing of the bonds on the Hong Kong Stock Exchange (Stock code: 5514) commenced on 8 September 2022.


The partner of Chungs Lawyers, the associated firm of DeHeng Law Offices in Hong Kong, Lily Liang, led the team including Jason Wong, Vanessa Lai, Darryl Ting, Christina Yip, Connie Ip, Catherine Kwok, Dexter Yeung, Lilian Kwong, Fairy Wang, Evelyn Fan, Jeff Wang, Andy Kwok, Neil Wang, Sherry Zhang, Liz Tang and Vince Chan.

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