DeHeng Law Offices (Hong Kong) LLP advised Huzhou Moganshan High-tech Group Co., Ltd. (湖州莫干山高新集团有限公司) (the “Issuer”, together with its subsidiaries, the “Issuer Group”) as the Issuer on its issuance of U.S.$210,000,000 5.48 per cent. guaranteed bonds due 2027, with Huzhou Moganshan State-owned Capital Holding Group Co., Ltd. (湖州莫干山国有资本控股集团有限公司) (the “Guarantor”) as the Guarantor and listed on the Singapore Exchange Securities Trading Limited on 17 April 2024.