On December 30, 2020, Wenling Zhejiang Measuring and Cutting Tools Trading Centre Company Limited ("Wenling MCT"; Stock Code: 01379.HK) completed its IPO and listing on the Main Board of the Hong Kong Stock Exchange (HKEX).

Based in Wenling City, Zhejiang Province, Wenling MCT owns, operates and manages an established trading center that specializes in measuring and cutting tools. Situated within a four-story, commercial complex with a basement area measuring 74,204.7 square meters, the trading center integrates tool display, exhibition, trading, distribution, and other functions. As of June 30, 2020, the trade center maintained 611 tenants and attracted several, high-profile e-commerce businesses in this sector, one of which is the Tools Union designated by the Wenling Bureau of Commerce as an e-commerce model enterprise in 2016. According to Frost & Sullivan, based on a continuous projection of the increase in average rent and Lettable Floor Area (LFA) of trading centers specializing in measuring and cutting tools from 2020 to 2024, the industry will continue to grow and there will be sustained demand for these types of products and services.

As the Chinese legal adviser to the sponsor, Jingtian & Gongcheng's legal team provided one-stop, end-to-end legal services for the IPO and listing of Wenling MCT, including conducting Chinese legal due diligence, assisting in third-party due diligence and responding to regulatory inquiries.