DeHeng Assisted Henan Yicheng New Energy in Completing Major Asset Restructuring

2024-11-20

On November 19, 2024, Henan Yicheng New Energy Co., Ltd. (stock abbreviation: Yicheng New Energy, stock code: 300080) announced the completion of the asset transfer in its major asset restructuring and related transactions. DeHeng provided comprehensive legal support, ensuring the smooth completion of this significant restructuring for the listed company.  

The restructuring involved both asset acquisition and major asset sales. DeHeng’s lawyers participated in the entire process, including transaction design, due diligence, resolution of key legal issues, drafting of restructuring proposals and transaction documents, responses to stock exchange inquiries, state-owned asset supervision reports or filings, and the transfer of target assets. Following the restructuring, Yicheng New Energy divested its photovoltaic cell business, allowing the company to focus on its core operations. This move is expected to optimize asset quality, enhance the company’s market value, protect the interests of minority shareholders, and strengthen its sustainable operational capabilities.  

Leveraging its integrated “headquarters-branch and branch-branch collaboration” model, DeHeng served as the special legal advisor for this restructuring project. The DeHeng team was led by Chen Hongyan from the Zhengzhou Office, with Liu Ying from the Hangzhou Office as the on-site lead. Other key members included Wang Dongjian, Zhou Feiyan, and Yang Yaru. The team worked closely with Yicheng New Energy and other intermediaries and provided professional, high-quality, and efficient legal services. DeHeng’s Hangzhou, Guangzhou, and Xi’an offices also offered support for supplier and client visits, while the Beijing headquarters formed an internal review team with lawyers from the Jinan, Shenyang, and Shenzhen offices to strictly mitigate project risks.