On January 23th 2019, Guangzhou Shiyuan Electronics Co., Ltd.’s (stock code: 002841, “CVTE” or “issuer”) public offering of convertible corporate bonds project was approved by China Securities Regulatory Commission (“CSRC”). CVTE was approved to make a public offer of RMB 941,830,400 convertible corporate bonds in total face value with a 6-year term (“the offering”).
CVTE’s main business is designing, developing and selling electronic products including LCD main control boards, interactive intelligent panels and intelligent control components for household appliances, CVTE is a global leading supplier of LCD main control boards and domestic leading supplier of interactive intelligent panels. In 2017 and the first half of 2018, CVTE’s sales of LCD main control boards had 28.29% and 35.75% shares in the global LCD main control boards market, and the LCD main control boards had been applied in the products of TCL, Hisense, Haier, Konka, Changhong, Skyworth, Xiaomi, Vizio, LG, SHARP, Toshiba, Panasonic etc. The sales of CVTE’s interactive intelligent panels is No.1 in the domestic market, its Xivo Series interactive intelligent panels have become a famous brand in the areas of educational informatisation and commercial appearance. At the same time, the MAXHUB Series interactive intelligent panels produced by CVTE, which focused on the conference market, has been applied to Southern Power, State Grid, Southern Airlines, Changan Automobile, GRG, J.D.com and Suning Appliance.
JunHe, as legal counsel to issuer, participated in the project and provided legal services including conducting due diligence report and legal opinions to CVTE and its subsidiaries, participating in reviewing the submission documents including prospectus and assisting in replying to feedback from regulating administrations. The JunHe team communicated efficiently and cooperated closely with CVTE and other intermediaries, and successfully assisted CVTE to get approval.
The JunHe team’s performance was highly recognized by clients and other involved parties.