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.

Oct 11, 2022

Advised the Managers and Trustee on issuance of EUR72 million listed bonds

Chungs Lawyers, the associated firm of DeHeng Law Offices in Hong Kong, advised the Managers and Trustee on Peng Ying International Development Company Limited’s (蓬瀛国际发展有限公司) (the “Issuer”) issuance of EUR72,000,000 2.60% guaranteed bonds due 2025 unconditionally and irrevocably guaranteed by Xiangshan County Binhai Investment Co., Ltd. (象山县滨海投资有限公司) (the “Guarantor”, together with its subsidiaries, the “Group”) and listed on the Stock Exchange of Hong Kong Limited (the “Hong Kong Stock Exchange”).

Established in 2007, the Group is a major construction, management and operation platform of housing and property in Xiangshan County and is wholly owned by the Xiangshan County SAMC (象山县国有资产管理中心). The Group is also the core operating entity carrying out housing and government-supported facilities constructions in Xiangshan County. Leveraging on the development of Zhejiang Province and Xiangshan County, strong shareholder’s support and its diversified businesses, the Group has undertaken and completed a large number of housing construction and management projects and played an important role in the development of Xiangshan County.

Listing of the bonds on the Hong Kong Stock Exchange (Stock code: 5373) commenced on 2 August 2022.

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

Oct 11, 2022

Advised the Managers and Trustee on issuance of U.S.$25,000,000 listed bonds

Chungs Lawyers, the associated firm of DeHeng Law Offices in Hong Kong, advised the Managers and Trustee on Zhejiang Anji Construction Development (Hong Kong) Co., Limited (浙江安吉建設發展（香港）有限公司) (the “Issuer”) issuance of U.S.$25,000,000 4.80% guaranteed bonds due 2023 unconditionally and irrevocably guaranteed by Zhejiang Anji State-controlled Construction and Development Group Co., Ltd (浙江安吉国控建设发展集团有限公司) (the “Guarantor”, together with its subsidiaries, the “Group”).

Established in 2010, the Group is one of the primary entity for the construction of significant city infrastructure and tourist attractions within the Anji Economic Development Zone of Anji County under the mandate from the People’s Government of Anji County and is wholly state-owned by the Finance Bureau of Anji County. Leveraging on the development of Zhejiang Province and Anji County, strong shareholder’s support and its diversified businesses, the Group has undertaken and completed a large number of infrastructure construction and tourist attractions development projects and played an important role in the development of Anji Economic Development Zone and Anji County.

Oct 11, 2022

Advised Heng Yuan International Company Ltd. on its issuance of EUR90 million listed bonds

Chungs Lawyers, the associated firm of DeHeng Law Offices in Hong Kong, advised Heng Yuan International Company Ltd (恒源国际发展有限公司) (the “Issuer”) on its issuance of EUR90,000,000 3.10% guaranteed bonds due 2025 unconditionally and irrevocably guaranteed by Ningbo Haishu Development and Construction Investment (Group) Co., Ltd. (宁波市海曙开发建设投资集团有限公司) (the “Guarantor”, collectively with its subsidiaries and the Issuer, the “Group”), and listed on the Stock Exchange of Hong Kong Limited (the “Hong Kong Stock Exchange”).

Established in 2014, the Guarantor is a state-owned enterprise located in Haizhou District, Ningbo City, China, wholly owned by the State-owed Assets Administration Centre of Haishu District of Ningbo City. The Group has been the core operating entity carrying out municipal development activities and providing public services in Haishu District, including construction and sales of resettlement housing, agent construction, municipal construction and maintenance, muck management service, construction management and other management services. Leveraging the development of Haishu District and Ningbo City, strong shareholder’s support and the experienced management team of the Group, the Group has undertaken and completed a large number municipal development projects and played an important role in the development of Haishu District.

Listing of the bonds on the Hong Kong Stock Exchange (Stock code: 5392) commenced on 3 August 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, Catherine Kwok, Dexter Yeung, Lilian Kwong, Fairy Wang, Evelyn Fan, Jeff Wang, Andy Kwok, Neil Wang, Sherry Zhang, Liz Tang, and Vince Chan.