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JunHe Assisted in Fengan Gear’s IPO, the First Listed Company in the Agricultural Machinery gear Industry and the First Listed Company in Pujiang County, Zhejiang Province


JunHe assisted in Fengan Gear’s IPO, the first listed company in the agricultural machinery gear industry and the first listed company in Pujiang County, Zhejiang Province

On December 16, 2022, JunHe, as the legal counsel to the issuer, assisted Zhejiang Pjgear Co., Ltd. (Fengan Gear) in completing its IPO on the Beijing Stock Exchange with the stock code 870508. Fengan Gear is the first listed company in China's agricultural machinery gear industry, and the first listed company in Pujiang County, Zhejiang Province. This IPO adopted the method of issuance through online pricing to qualified investors in combination with targeted placement to strategic investors. The issuance price was RMB 10 per share, and the post-issuance price-earnings ratio before the exercise of the over-allotment option was 20.26 times.

Fengan Gear is a high-tech enterprise specializing in the R&D, production and sales of various agricultural machinery gears, and is one of the main manufacturers in the industry. The Company's flagship product is self-propelled crawler type wheat and rice harvester gears. It has a relatively large share of the domestic market and takes a leading position in the industry.

With years of technology R&D and business accumulation, the Company has established an outstanding corporate image and reputation in the agricultural machinery gear industry. The Company participated in the drafting of the national standard "GB/Z13672-2022 Test Method for Bearing Capacity of Gear Bonding” and is a national-level specialized and sophisticated enterprise that produces new and unique products.

Since 2016, JunHe’s team has successively assisted the Company in various projects such as completing its listing on the NEEQ, private placement financing and this IPO. The team won the unanimous affirmation and trust of the Company and the other intermediaries with its consistently efficient, practical and forward-looking work style.

Partners YOU, Yi, FENG, Ai, XIAHOU, Yinchu and SHEN, Na led JunHe’s deal team for this project, with support from partner XIA, Ruhai for the internal review.

JunHe is the only Chinese law firm to be admitted as a member of Lex Mundi and Multilaw, two international networks of independent law firms. JunHe and selected top law firms in major European and Asian jurisdictions are “best friends.” Through these connections, we provide high quality legal services to clients doing business throughout the world.
As the first carbon neutrality fund sponsored by a law firm in China, the BAF Carbon Neutrality Special Fund was jointly established by JunHe and the Beijing Afforestation Foundation (BAF) to promote carbon neutral initiatives, and encourage social collaboration based on the public fundraising platform to mobilize engagement in public welfare campaigns.