RECENT NEWS | DEHENG HONG KONG

10 June 2025

DeHeng Hong Kong advised Rongta Technology on its listing on the Main Board of Stock Exchange

On 10 June 2025, Rongta Technology (Xiamen) Group Co., Ltd. (容大合眾（廈門）科技集團股份公司) (“Rongta Technology”) successfully listed on the Main Board of The Hong Kong Stock Exchange Limited (Stock code: 9881).

Rongta Technology is an Automatic Identification and Data Capture (AIDC) devices and solutions provider with a global sales network, dedicated to the design, R&D, manufacturing and marketing of printing equipment, scales, POS terminals and PDAs. Rongta Technology strives to assist businesses and individuals to continuously improve efficiency and accuracy in day-to-day operation and daily lives through introduction of AIDC devices and functionality like IoT technology, cloud-based printing and AI integration. Rongta Technology offers both standardised and customised products to meet the diverse needs and requirements of its customers, and its products are widely used in different industries including but not limited to retail, education, catering, logistics, warehousing, manufacturing, hospitality, medical and environmental industries.

DeHeng Law Offices (Hong Kong) LLP, acted as the Hong Kong legal advisers to the sole sponsor, Yue Xiu Capital Limited, and the underwriters, formed a project team led by partners Ernest Chung, Boaz Cheung and Crystal Wong, fully participated in various aspects of the listing process. Our project team also worked closely and actively with Rongta Technology and other professional parties to provide professional, comprehensive and efficient legal services for this project.

1 April 2025

Advised Jiangsu Horizon Chain Supermarket Company Limited on its Global Offering

On 31 March 2025, Jiangsu Horizon Chain Supermarket Company Limited (江蘇宏信超市連鎖股份有限公司) (“Jiangsu Horizon Supermarket”) successfully listed on the Main Board of The Hong Kong Stock Exchange Limited (Stock code: 02625).

Jiangsu Horizon Supermarket is a wholesaler of grains and oil headquartered in Yangzhou City in Jiangsu Province of the PRC, with retail operations of supermarket and convenience stores focusing on the central region of Jiangsu Province under the brand “宏信龍” (Hongxinlong*). According to the Industry Report, the Company ranked second among supermarket operators in Yangzhou in terms of sales in 2023 with a market share of approximately 9.1%, the fifth among supermarket operators in the central region of Jiangsu Province in terms of sales in 2023 with a market share of approximately 2.3%, and around the twentieth among supermarket operators in Jiangsu province in terms of sales in 2023 with a market share of approximately 0.4%.

DeHeng Law Offices (Hong Kong) LLP, acting as legal advisors to the issuer as to Hong Kong law, formed a project team led by managing partner, Danny Hong and partner, Marco Chan to actively participate in and facilitate the project. The team worked closely with Jiangsu Horizon Supermarket and other professional parties to provide professional, comprehensive, efficient and high-quality legal services for this project.

*For identification purpose only

19 Feb 2025

Advised Mingfa Group (International) Company Limited on the disposal of a subsidiary

On 27 January 2025, DeHeng Law Offices (Hong Kong) LLP advised Mingfa Group (International) Company Limited (“Mingfa”, together with its subsidiaries “Mingfa Group”) on the disposal of the entire equity interest of Quanzhou Mingfa Hotel Co., Ltd.* (the “Target Company”) at a consideration of RMB100 million (the “Disposal”). The Target Company owns and manages the Quanzhou Ming Fa Hotel in Quanzhou, the PRC.

The Disposal constituted a discloseable transaction under Chapter 14 of the Rules Governing the Listing of Securities on the Stock Exchange of Hong Kong Limited (the “Listing rules”) and therefore subject to the reporting and announcement requirements but exempt from the circular and shareholders’ approval requirements pursuant to Chapter 14 of the Listing Rules.

Mingfa is a company listed on the Main Board of The Stock Exchange of Hong Kong Limited (stock code: 846). Mingfa Group is principally engaged in the development of large-scale complex properties in China, as well as the national brand reputation of hotel management, property management and property investment.

The deal is led by lead partners Ernest Chung and Stephen Kei, and supported by the team members including Edwin Wong and Avril Chan.

17 Jan 2025

Advised StarGlory Holdings Company Limited on a share subscription

Advised StarGlory Holdings Company Limited (stock code: 8213) (“StarGlory”) on subscription for new shares of StarGlory by two investors at a total consideration of approximately HK$12 million. The 34,285,713 shares of StarGlory subscribed represent approximately 6.18% of the issued share capital of StarGlory as enlarged by the subscription. StarGlory intends to use the net proceeds from the subscription for (i) operation of the existing food and beverage business; (ii) general working capital; and (iii) expansion of the Group’s renewable energy and new material business.StarGlory is a company listed on the GEM of The Stock Exchange of Hong Kong Limited (stock code: 8213) and is principally engaged in food and beverage business in Hong Kong.The deal was led by lead partners Ernest Chung and Stephen Kei, and supported by the team members including Edwin Wong, Christine Yuen and Avril Chan.

17 Jan 2025

Advised China Tianrui Group Cement Company Limited (stock code: 1252) on a top-up placing of existing shares and subscription for new shares

Advised China Tianrui Group Cement Company Limited (stock code: 1252) (“China Tianrui”) on a top-up placing of existing shares and subscription for new shares. The shares of China Tianrui placed by CNI Securities Group Limited (as the Placing Agent) represent approximately 4.70% of the issued share capital of China Tianrui as enlarged by the subscription. China Tianrui intends to use the net proceeds from the subscription for (i) the repayment of its existing borrowings; and (ii) general working capital of the Group. The top-up placing of existing shares and subscription for new shares was completed within 14 days after the signing of the placing and subscription agreement.

China Tianrui is a company listed on the Main Board of The Stock Exchange of Hong Kong Limited. China Tianrui Group is principally engaged in manufacture and sale of cement, clinker and limestone aggregate. China Tianrui Group’s operations are substantially conducted through its subsidiaries in the PRC.

The deal was led by lead partners Ernest Chung and Stephen Kei, and supported by the team members including Edwin Wong, Christine Yuen and Avril Chan.

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.

Advised Beijing SinoHytec Co., Ltd. on its Global Offering

Jan 12, 2023

On 12 January 2023, Beijing SinoHytec Co., Ltd. (“SinoHytec”), a company listed on the SSE STAR Market (Stock code：688339.SH), successfully listed on the Main Board of The Stock Exchange of Hong Kong Limited (“Stock Exchange”) (Stock code: 2402) and became the first SSE STAR Market listed company to be listed on the Stock Exchange in 2023.

SinoHytec is a leading provider of fuel cell systems in China, focusing on the design, development and manufacture of fuel cell systems and stacks mainly for commercial vehicles, such as buses and trucks. SinoHytec ranked first in the PRC fuel cell system market in terms of the total power output of fuel cell systems sold in 2021, with a market share of 27.8%. As of June 30, 2022, SinoHytec’s fuel cell systems were installed on 80 models of fuel cell vehicles that are featured in the MIIT New Energy Vehicle Catalogs, ranking us first in the industry.

DeHeng Law Offices, acting as legal advisors to the issuer as to PRC laws, formed a project team led by partners Zhang Jiejun and Qiu Ru, and supported by Peng Hong, Gu Yatao, Liu Yuanjun and Wang Xin; Chungs Lawyers (in association with DeHeng Law Offices), acting as legal advisors to the issuer as to Hong Kong laws, also formed a project team to fully participate in and facilitate the project.

Both project teams worked closely and actively with SinoHytec, its sponsors and other professional parties to provide professional, comprehensive and efficient legal services for this project.

Advised Honworld Group Limited on the Resumption of Trading on the Stock Exchange

Jan 4, 2023

Chungs Lawyers (in association with DeHeng Law Offices) has advised Honworld Group Limited (Stock Code: 2226) (the “Company”, together with its subsidiaries, the “Group”) to successfully resume trading of its shares on the Stock Exchange of Hong Kong Limited (the “Stock Exchange”). The Group is one of the leading manufacturers of condiment products in the PRC. Trading in the Company’s shares had been suspended with effect from 30 March 2021. Pursuant to the resumption guidance (the “Resumption Guidance”) imposed by the Stock Exchange, the resumption conditions that the Company should satisfy include the following conditions:

to demonstrate the Company’s compliance with Rule 13.24 of the Rules Governing the Listing of Securities on the Stock Exchange (the “Listing Rules”), which provides that the Company shall carry out its business with a sufficient level of operations and assets of sufficient value to support its operations;
to conduct an independent investigation into the relevant matters, announce the investigation findings, assess and announce the impact on the Company’s operation and financial position, and take appropriate remedial actions;
to demonstrate that there is no reasonable regulatory concern about management integrity and/or the integrity of any persons with substantial influence over the Company’s management and operations, which may pose a risk to investors and damage market confidence;
to demonstrate that the directors of the Company meet a standard of competence commensurate with their position as directors of a listed issuer to fulfill duties of skill, care and diligence as required under Rule 3.09 of the Listing Rules; and
to conduct an independent internal control review and demonstrate that the Company has in place adequate internal controls and procedures to meet obligations under the Listing Rules.

Chungs Lawyers worked closely with the Company team and the Company’s professional advisers to assist the Company in formulating the appropriate approach on fulfilling the Resumption Guidance. Chungs Lawyers assisted in communicating with the regulators, advising on the scope of the independent forensic investigations and internal control review, handling legal and regulatory issues encountered by the Company in the process of resumption, and providing training to the Company’s directors and senior management on the Listing Rules.

Advised Guanze Medical Information Industry (Holding) Co., Ltd. on its Global Offering

Jan 3, 2023

On 29 December 2022, Guanze Medical Information Industry (Holding) Co., Ltd. (“Guanze”) successfully listed on the Main Board of The Stock Exchange of Hong Kong Limited (Stock code: 2427).

In this project, Chungs Lawyers (in association with DeHeng Law Offices) acts as the Hong Kong legal counsel to the sole sponsor, Southwest Securities (HK) Capital Limited, and fully participates in and promotes the project.

Immediately upon completion of the global offering, the market capitalisation of Guanze exceeds HK$500 million.

Guanze is a medical imaging solutions provider, principally engaged in providing medical imaging film products and medical imaging cloud services in Shandong Province. In respect of the medical imaging film products business, Guanze engages in the distribution of medical imaging film products from international brands, and the sale of its self-branded medical imaging film products. In respect of the medical imaging cloud services business, Guanze was the third largest medical imaging cloud

services supplier in Shandong Province with a market share of approximately 4.7%, in terms of sales revenue in 2021.

Chungs Lawyers (in association with DeHeng Law Offices) worked closely and actively with other professional parties to provide professional, comprehensive and efficient legal services for this project.