July 2, 2018 The four companies assisted by Jingtian & Gongcheng to be newly listed on the Stock Exchange of Hong Kong Ltd gathered together in the trade lobby, opening a new chapter in the history of enterprises going public. They were Tianli Education (01773.HK), Qeeka Home (01739. HK), FingerTango (06860.HK) and Redsun Properties (01996.HK). It is the first time in the history of Hong Kong Stock Exchange that among eight companies to go public on the same day, four were served by one single law firm. Representatives from all the firms crowded the bustling exchange floor, shook hands and took pictures to seal the memory
About Jingtian & Gongcheng Capital Investment in Hong Kong: The four enterprises who enlisted Jingtian & Gongcheng’s legal help with their IPOs cover education, internet and real estate businesses. Among 90% of the HKEX publicly-traded companies in the education industry, nearly half were assisted by Jingtian & Gongcheng to go public as Variable Interest Entities (VIE), such as Xiaomi Corp., Meituan.com, Yixing Group and Jia Inc. etc. in the past two years. At the same time, Jingtian & Gongcheng provided IPO legal service for more than ten well-known real estate and property development firms including China COSCO Shipping Holdings Co., Ltd, Country Garden, Agile Property Holdings Ltd., BBMG Corporation Ltd., Hengsheng Group, China SCE Property Holdings Ltd., and Swire Properties Ltd., as well as the following players in the past five years: Zhengro Properties, The Wharf (Holdings) Ltd., Sunshine 100 China, Wuzhou International Holdings Ltd., and New Century Real Estate, et cetera. In addition to these, Jingtian & Gongcheng extended legal assistance to prime leaders and the fastest growing enterprises in the industries of energy, medicine, retail, manufacture, food service and environmental protection. Over the years Jingtian & Gongcheng has been consistently the number one law firm within the country to assist Chinese companies to be listed on the Hong Kong Stock Exchange (Red Chip + H shares), totaling 309 out of approximately 600 China Concept Stocks, claiming 50% of the total market share on the Hong Kong Stock Exchange.
About Hong Kong Capital Market: As of December 31, 2017, with market capitalization at 34 trillion, the Hong Kong Stock Exchange is the third largest in the world. Since 2018, with a series of reform such as full H-share convertibility, weighted voting rights policy, listing and secondary listing of pre-revenue biopharmaceutical companies, refinancing new policy, internet industry listing rules, a new policy on delisting intended to embrace China economy reform and reconstruction, HKEX has been witnessing the IPO boom from the emerging economy in China spearheaded by mobile internet industry and biopharmaceutical industry. Being a financial center of the world, Hong Kong has been the most welcoming overseas market for Chinese companies with its seasoned and resourceful venues for market capitalization, rational and transparent market regulations, easy access to foreign exchange, mature and stable legal infrastructure, above all the superb quality service by Hong Kong Stock Exchange, and it has been the best venue for Chinese companies to raise public funds. In addition, as compared to western markets, the common language and cultural heritage makes it easier to communicate. With the imminent completion of the Shenzhen-Hong Kong Express Rail, travel will be far swifter and more convenient. As compared to inland market, listing process is more streamlined and predictable. The successful issue and adoption of Shanghai-Hongkong Stock Connect, Shenzhen-Hong Kong Stock Connect and Bond Connect have provided multiple channels for mainland investors to participate. Undoubtedly Hong Kong is the perfect platform to serve the Chinese economy and Chinese enterprises, and the best spot to connect capital markets across borders.
Finally, congratulations to all the companies listed today! Many thanks for the clients’ trust and endorsement of Jingtian & Gongcheng. Best wishes to the Hong Kong Capital Market. In providing legal assistance for Chinese companies’ IPOs within and outside our borders, Jingtian and Gongcheng will continuously offer the best to serve Chinese enterprises and Chinese economy. Always believe wonderful things will happen.
