DeHeng Assisted Xuzhou Xinsheng Group in Issuing the First Tranche of Its RMB 2.695 Billion Shelf-Registered Consumer Infrastructure CMBS

2025-12-11

Recently, the Huatai-Xuzhou Xinsheng Group Consumer Infrastructure Commercial Mortgage-Backed Securities (Tranches 1-3, Shelf-Registered) received a no-objection letter from the Shanghai Stock Exchange, and the first tranche was successfully issued. The project adopts a shelf-registration model of “one review, multiple issuances,” with a total issuance size not exceeding RMB 2.695 billion. The original beneficiary is Xuzhou Pengsheng Construction and Development Co., Ltd., a consolidated subsidiary within the consolidation scope of Xuzhou Xinsheng Investment Holding Group Co., Ltd. The underlying assets consist of high-quality consumer infrastructure assets within the Xinsheng Group system.

As special legal counsel for the issuance, the DeHeng team, with primary support from partner Yu Yunbo of the Shanghai Office, partner Zhang Chao of the Hangzhou Office, lawyers Wang Geqing and Zhao Yueyang of the Shanghai Office, and paralegal Wang Chihang of the Hangzhou Office, leveraged extensive experience and deep expertise accumulated in the asset securitization area and took full responsibility for core legal services, including legal due diligence, transaction documentation, and issuance of legal opinions. The team worked closely with the issuer, Huatai Securities (Shanghai) Asset Management Co., Ltd., and other intermediaries, responded efficiently to regulatory requirements, and provided solid legal support for the project’s approval.