Zhongsheng Group Holdings Limited (“Zhongsheng Group”, 00881.HK) successfully issued HK$ 2.35 billion zero coupon convertible bonds due 2018 on October 30, 2017.The convertible bonds are convertible in the circumstances set out in the Terms and Conditions into ordinary shares of HK$ 0.0001 each in the issued share capital of the Company at an initial conversion price of HK$ 20.2860 per share.

Zhongsheng Group is China’s leading national automobile distributor. The Group owns extensive national 4S dealership network (including sales, components, after-sales service and information service), covering economically advanced regions and cities. Zhongsheng Group focuses on luxury and premium brand portfolio, including Mercedes-Benz, Lexus, Audi, Porsche, Land Rover, Toyota, Nissan, Volkswagen, Chrysler, Honda, etc. It’s the first authorized dealer of Toyota in China, as well as one of the earliest Lexus and Audi dealers in the country. The Group has been committed to one-stop business model, and offers at 4S store new vehicle sale, after-sales products and services, including components, accessory, repair and maintenance, decoration, and other automobile-related products and services.

Jingtian & Gongcheng is the PRC legal counsel of the issuer. It assists in the communication with regulators, conducts due diligence and issues legal opinions.