2022.03.06
On February 28, 2022, Han’s CNC Technology Co., Ltd. (hereinafter, “Han’s CNC” or the “Company”), was listed on the GEM of the Shenzhen Stock Exchange (the “Public Offering”), with the stock code 301200. The Company issued 42 million shares, with an issue price of RMB 76.56 per share and raised funds of approximately RMB 3.216 billion. JunHe acted as the attorney for Han’s CNC.
As the sole PCB (printed circuit board) business platform of Han’s Laser Technology Industry Group Co., Ltd. (002008.SZ, hereinafter, “Han’s Laser”), Han’s CNC’s public offering is the first case of an A share split domestic listing in Shenzhen and the first case of an A share split domestic listing in the high-end equipment manufacturing industry in Dawan District.
After nearly 20 years of development, Han’s CNC has become a leading enterprise in the global PCB equipment industry and has made great contributions to the localization of the PCB industry equipment in China. It has ranked first in China’s top 100 enterprises in the electronics industry (special instruments and equipment) for twelve consecutive years (as published by CPCA), with customers throughout 89 different enterprises. It has ranked in NTI’s ‘2019’s top 100 PCB companies in the world’ and in CPCA’s ‘2019’s Top PCB companies in China’.
Han’s Laser is a high-end equipment manufacturing enterprise that provides system solutions for lasers, robots and automation technology in the intelligent manufacturing field. It has developed into the largest industrial laser processing equipment manufacturer in Asia and ranks in the top three in the world. JunHe was the attorney of the issuer for the listing and is the general legal counsel and special legal counsel of Han’s Laser. JunHe’s team has participated in the daily corporate governance, information disclosure and refinancing of Han’s Laser since its listing and has witnessed Han’s Laser’s development and growth over the last 20 years.
JunHe acted as the issuer’s attorney for the public offering and provided comprehensive legal services. The team conducted legal due diligence investigations, sorted out the key legal issues and proposed important suggestions for the Company’s normative operations. They discussed and carried out plans for the share split, completed the restructuring for the establishment of a joint stock company, and implemented the employee equity incentive plans. JunHe’s team participated in pre-listing tutoring and notifications for the listing and responded to the inquiries from the Shenzhen Stock Exchange and the feedback from CSRC. JunHe made effective legal analysis and gave feedback and responded to the key issues of concern by the Shenzhen Stock Exchange, which included spin-off listing and the assets, business independence and horizontal competition between Han’s Laser and Han’s CNC. JunHe was consistently affirmed by the Company and the other intermediaries for its consistently efficient, rigorous and stable work style and meticulous and professional attitude.
The leading partners of this Project were JunHe attorneys ZHANG, Zongzhen and ZHANG, Huili.
