China Feihe Limited (China Feihe, 06186.HK) completed its initial public offering on November 13, 2019 and listed on the main board of the HKEx. China Feihe Limited issued 893,340,000 shares at HK$ 7.5 per share and raised about HK$ 6.7 billion around the world. The shares issued by this time accounted for 10% of the company's expanded total capital after the issuance. After this global offering, the market value of China Feihe Limited exceeded HK$ 67 billion.

China Feihe is the largest and widely known maker of infant milk formula in China.  According to the Report released by Frost & Sullivan, China Feihe Limited ranked No.1 among domestic and international peers with a market share of 7.3% based on the retail value in 2018. Thanks to China Feihe's rich professional knowledge in infant milk formula business, the company's brand has been given a unique value meaning as "more suitable for Chinese babies". The company's dairy products are mainly sold through an extensive distribution network consisting of more than 1,800 offline distributors throughout the country, and as of June 30, 2019, it has covered more than 109,000 retail outlets. China Feihe acquired Vitamin World's retail health care business in early 2018 to seek opportunities to diversify the company's business.

As the Issuer’s PRC  legal advisor, Jingtian & Gongcheng has provided all-round legal services including PRC legal due diligence, issuing legal opinions, assisting in responses to comments from regulatory agencies and so on.  We have participated in the whole listing process and won high recognition from the Client.