On July 22th, 2019, the STAR Market was officially opened, listing the first batch of 25 corporations on the Shanghai Stock Exchange. This included Shenzhen Appotronics Corporation Ltd. (‘Appotronics’, ’the company’, or ‘the issuer’), assisted by JunHe. Appotronics was officially listed as the first board in Guangdong, with stock code: 688007.
Appotronics is a national high-tech enterprise and provides the world's leading semiconductor light source technology as its core business. It follows a high-tech direction, and is driven by original technology and core patents. It breaks monopolies and creates an ‘Appotronics model’ of innovative technologies, products and business models. Its core products are laser digital cinema projectors, laser ultra-mobile projectors, laser large venue projectors, laser TVs and laser education projectors. In February 2019, Appotronics simultaneously carried out laser projections during two high-profile events: the CCTV Spring Festival Gala and Lantern Night in the Summer Palace, changing the human cognitive horizon by light, and demonstrating its remarkable strength in laser display.
Appotronics issued 68 million A-shares. It used targeted placement to strategic investors and a pricing issue combined inquiry to qualified offline investors with non-restricted A shares in the Shanghai market, as well as to public investors who were not limited to the market value of depositary receipts. The issuing price was RMB 17.50 per share, and the total amount of funds raised was RMB 1.19 billion.
JunHe, acting as the lawyer for the issuer, participated and assisted in the demolition of the overseas structures. It was involved in the restructuring, as well as designing employee equity incentives, shareholding restructuring, and special asset management projects in the strategic placement of senior management personnel and core employees. Acting in accordance with the scientific and technological properties of Appotronics and the listing requests of the STAR Market, JunHe communicated effectively with other intermediaries in adjusting the issuing plan and the listing documents, as well as cooperating with the internal regulations, within a very limited timeframe and with no set market precedent. It successfully completed the project. JunHe's meticulous, professional, efficient and experienced legal services won high recognition from the company and other intermediaries. The prudence, practicality, efficiency and experience of JunHe were highly recognized by its clients.
The leading partner was Mr. HU, Yijin. The undertaking partners for this project were Mr. HU, Yijin, Ms. ZHANG, Lihui, and Ms. YUAN, Jiani. The core partner was Mr. LI, Ruochen.