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JunHe Assists with the listing of Lianlian DigiTech Co., Ltd. on the Stock Exchange of Hong Kong

2024.03.29

On March 28, 2024, Lianlian DigiTech Co., Ltd. (“Lianlian DigiTech”, stock code: 02598.HK) was listed on the Main Board of the Stock Exchange of Hong Kong. As a leading cross-border payment service provider, Lianlian DigiTech is believed to be the first cross-border payment service provider based in mainland China to be listed in Hong Kong. 


Established in 2009, Lianlian DigiTech is a digital payment service company headquartered in Hangzhou, China. Among all digital payment solution providers based in China, Lianlian DigiTech has the widest global footprint and license coverage, and it is the only company that has money transmitter licenses in all states of the United States. Lianlian DigiTech’s licenses (including 64 payment licenses and related qualifications) and its cooperation with business partners enable it to cover more than 100 countries and regions and support transactions in more than 130 currencies. The number of merchants and businesses serviced by Lianlian DigiTech had increased to approximately 3.2 million as of September 30, 2023, and the total payment value (TPV) for digital payment services in the first nine months of 2023 reached RMB 1.312 trillion. 


JunHe acted as the PRC counsel for the joint sponsors and the underwriters. JunHe’s team participated in the communications and interviews with the regulators, assisted the sponsors in conducting legal due diligence investigations, reviewed and revised the PRC legal opinions, the due diligence investigation reports on data compliance, the prospectus and the other related application and offering documents. They assisted and cooperated with the other professional advisors in preparing and issuing a full set of legal documents for the overseas listing filing with the CSRC. They assisted the parties in actively responding to the questions relating to mainland China laws raised by the CSRC, the Securities and Futures Commission, and the Stock Exchange of Hong Kong. 


The JunHe team was led by partners SUN, Xiaojia and HE, Tingcai (Lawrence HO). Partner ZHOU, Fang was the internal check partner and partner GU, Yu provided important support to the data compliance matters of the project.

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.