DeHeng Advised EXC-LED on Listing
on ChiNext of Shenzhen Stock Exchange
2020-09-16
On September 16, 2020, Shenzhen EXC-LED Technology Co., Ltd. ("EXC-LED," stock code: 300889) held an A-share listing ceremony to mark its official listing on ChiNext of the Shenzhen Stock Exchange. For the initial public offering, EXC-LED issued 39 million shares at RMB 27.97 per share, and raised RMB 1.091 billion in total.
Founded in 2009, EXC-LED is mainly engaged in the R&D, production and sales of intelligent landscape lighting control systems and LED landscape lighting lamps. Its products have been successfully applied to the lighting projects of many large cities in China, including the landscape lighting project of the 7th Wuhan Military World Games, the themed lighting show for the 40th anniversary celebration of reform and opening up in Shenzhen, the themed lighting show of the Shanghai Cooperation Organization Summit in Qingdao, and the themed lighting show of the BRICS Conference in Xiamen, Qianjiang New Town lighting show of Hangzhou G20 Summit, and Yangtze River lighting show in Wuhan. It has strong capabilities in developing and manufacturing intelligent control systems and landscape lighting products, and is capable of mass customized production. It has become one of the core suppliers of large-scale landscape lighting projects in China.
Since its first application in May 2019, this IPO project has undergone amendments to the Securities Law, COVID - 19 outbreak, the reform of the ChiNext registration system, and the revision of relevant rules of the ChiNext, etc., and it was among the first batch of IPO applications transferred to the Shenzhen Stock Exchange after passing the preliminary review by the China Securities Regulatory Commission. With the short transition period, tight application time, and no precedent for the content and form of some application documents, the transferring application process gave a greater challenge to the work of the project team. DeHeng has been advising on its IPO since 2018, and participated in the entire process of listing application and review.
As the legal counsel, the DeHeng team was led by partner Guan Changluo, with primary support from lawyers Cui Wei, Xu Zhixiang, Wang Yuanyuan and Pan Yu. They provided comprehensive, professional, efficient and high-quality legal services for the IPO.
