2021.09.23
On September 22, 2021, Hangzhou Wensli Silk Culture Limited (“Wensli” or the “Company”), was listed on the Growth Enterprise Market (GEM) of the Shenzhen Stock Exchange (stock code: 301066). The issuance of 33,634.32 A-shares raised RMB 176 million.
Wensli was formed in 1975 in Hangzhou, Zhejiang Province, the “silk capital” of China and uses high-quality mulberry silk as its raw material. Its products cover three main categories: silk scarves, silk home products, and cultural and creative gifts. Through combining traditional silk with cutting-edge technology (such as double-sided printing), it has lead innovations in manufacturing silk cultural products, high-quality silk decorative products and silk artworks. Wensli has successfully partnered with a series of high profile events such as the Beijing Olympic Games, Shanghai World Expo, Guangzhou Asian Games and the G20 Hangzhou Summit in 2016. The company provided silk hospitality supplies, silk scarves, product sets, silk crafts, screens, and giant silk murals for the G20 Hangzhou Summit. The silk double-sided embroidery screen – “Sheng Shi Feng Hua” (flourishing scene in a great age), especially produced by Wensli, reflected the elegant atmosphere and noble occasion of the summit. The “Long scarf – Ji Guang Feng Yu (art treasure) for madame gift set” was a gift for the spouse of the head of state at the G20 Hangzhou Summit. The silk scarf entitled “Hua Jing Rao Die (flowers dotted with butterflies) was also a special G20 Hangzhou Summit souvenir. Wensli was one of the first suppliers contracted for the 2022 Asian Games in Hangzhou. The company has showcased the international charm and beauty of Chinese silk to the world, highlighting the fabric’s eternal appeal.
As the legal advisor to the issuer, JunHe provided continuous and in-depth legal services for Wensli’s IPO. JunHe assisted the Company in analyzing the key legal issues and the pre-listing counselling and listing declaration. They responded to feedback from the Shenzhen Stock Exchange and the China Securities Regulatory Commission as well as shareholder penetration verification. JunHe’s efficient, rigorous and steady work style, and meticulous and professional service attitude were highly recognized by the Company and the other intermediaries. During the reform of the Growth Enterprise Market registration system, JunHe assisted the company, (as a newly declared company), to immediately apply and then be accepted, after the GEM registration system came into effect. JunHe ultimately assisted Wensli in its successful listing on the GEM.
The lead partner of the project was CHEN, Xunan and the partner in charge was SHEN, Na. The partners in charge of the internal audit were SHI, Tiejun and LIU, Xin.
