DeHeng Advised Suzhou Chunqiu Electronic Technology
on Its Listing on the Main Board of Shanghai Stock Exchange

2017-12-14

Suzhou Chunqiu Electronic Technology Co., Ltd. ("Chunqiu Electronic"), for which DeHeng served as its IPO lawyers, was listed on the A-share stock exchange recently. The A shares (ticker symbol: 603890) issued by Chunqiu Electronic through the IPO were floated on Shanghai Stock Exchange on December 12.

Founded in August 2011, Chunqiu Electronic is chiefly engaged in the R&D, design, production and sale of structural modules of consumer electronics and related precision molds. Since its establishment, Chunqiu Electronic has been improving its product manufacturing and service system, and is committed to providing clients with one-stop services for structural modules of consumer electronics and related precision molds, covering the whole process of design, mold manufacturing and production.

The company issued 34.25 million new shares this time at a price of 23.72 yuan per share, without transfer of any old stocks. The fund raised reached 812.41 million yuan. After deducting the issuing expenses of 71.7486 million yuan (excluding value added tax), the net amount raised was 740.6614 million yuan.

As the issuer's legal counsel since 2011, DeHeng has been assisted Chunqiu Electronic in resolving major legal issues such as horizontal competition, connected transactions, corporate governance, and compliance. The application for IPO was filed in March 2017 and was approved in November of the same year. It took only 238 days from the acceptance of the application to the issuance of the approval document.

In order to provide legal services for the IPO and flotation of Chunqiu Electronic, DeHeng Law Offices formed a project team composed of the principal members of DeHeng Law (Beijing) Office partner Wang Cheng, DeHeng Law (Shanghai) Office partner Shen Hongshan and lawyer Li Zhenhui.