On February 5, 2020, the China Business Law Journal published 2020 "Deals of the Year". JunHe made the list with 13 deals, a significant increase from previous years. JunHe was recognized for its work in capital market, corporate M&A, banking and finance, energy and infrastructure, bankruptcy reorganization and anti-dumping. JunHe's capital market and M&A teams retained their leading position on the list.

JunHe’s shortlisted deals include:

1. UCloud Technology’s A-share listing on Star board

2. NetEase’s secondary listing in HK

3. MINISO’s US IPO

4. Xpeng’s US IPO and US$1.3 billion pre-IPO financing

5. 58.com’s privatization

6. China Merchants Commercial REIT’s HK listing

7. Grifols’ share swap in Shanghai RAAS

8. Additional Investments by China Merchants Shekou Holdings and Shenzhen QianHai Development Investment Holding in Qianhai Shekou Free Trade Investment 

9. Huishan Dairy restructuring

10. India’s pyridine anti-dumping investigation

11. RemeGen’s Hong Kong listing

RemeGen Co., Ltd. (“RemeGen”) engaged JunHe as its intellectual property counsel during its initial public offering on the Hong Kong Stock Exchange. JunHe team conducted intellectual property due diligence during the pre-IPO and IPO phases, responded to intellectual property related enquiries from the Hong Kong Stock Exchange, and ultimately helped RemeGen to go public. JunHe's IP team has deep technical knowledge in the biomedical field and an abundance of IP-related legal and practical experience. The team reviewed RemeGen’s domestic and foreign patents and patent applications, analyzed the status of IPR protection concerning RemeGen's products and technologies, and conducted a thorough IPR investigation. During this project, JunHe gave its strong professional support by actively cooperating with the sponsor and the other professional teams and quickly replying to the questions raised by all parties. As the IP due diligence involved many different jurisdictions, including China and foreign countries, JunHe team worked closely with all partners in different jurisdictions to complete the due diligence effectively. JunHe team was highly praised for its efficiency and professionalism.

In the IPO, RemeGen issued 76,537,000 shares at a price of HK$52.10 per share to raise HK$3,987,577,700, making it the largest IPO on the Hong Kong Stock Exchange in the biopharmaceutical industry.

The leading partner of the project was WANG, Zhaohui (Zoe) .

12. China Energy and EDF set up offshore wind power joint venture 

In March 2020, the joint investment and operation by China Energy and Electricite de France of Dongtai Offshore Wind Power Project with an installed capacity of 502 MW passed the antitrust review. The project is located in the sea off Dongtai City, Jiangsu Province, with a total investment of almost RMB 7.9 billion. It is the first offshore wind power project with foreign investment in China and was launched in 2018. The framework agreement was signed by President Xi Jinping and French President Emmanuel Macron in 2019. This project represents the sustainable development of bilateral relations and deepened practical cooperation on energy between China and France and sets a new beginning for China-France cooperation in the field of new energy. 

As legal counsel to Electricite de France in this project, JunHe was fully responsible for the legal due diligence, the design of the transaction structure, the drafting and negotiation of transaction documents, the process of conversion of state-owned assets into shares, the anti-monopoly review and other work. Over the past two years, JunHe team has successfully dealt with many challenges and accomplished the work with a high degree of professionalism. 

The leading partners of the project were QIN, Yu (Bill), CHENG, Yuan and WEI, Yingling . The undertaking partners were DU, Lijing and GE, Aoxue.

13. China Yangtze Power acquires major Peru asset

China Yangtze Power Co., Ltd. (stock code: 600900) acquired 83.64% equity interest in Peru’s largest electric company, Luz del Sur S.A.A. (“LDS”) which is listed on Lima Stock Exchange, by purchasing through bidding Sempra Energy’s power distribution and other assets in Peru through China Yangtze Power International (Hong Kong) Co., Ltd. (“CYPI”), its wholly-owned subsidiary. At the closing of the acquisition, Yangtze Andes Holding Co. Limited ("YAH"), a wholly owned subsidiary established by CYPI in Hong Kong, directly held such power distribution assets in Peru (the "South American Distribution Project").  During the introduction of joint investors in the South American Distribution Project by YAH through capital increase, JunHe advised Three Gorges Capital Holdings Co., Ltd. and Bolka Holdings Limited ("Bolka") on the establishment of a special fund titled ACE III in the Cayman Islands (of which Bolka and Three Gorges Capital hold 50% shares as a GP and a LP, respectively). ACE III further established two SPVs, i.e. MAGENTA Investment Company Limited ("MAGENTA") and Cyan Holdings Limited ("Cyan"), each of whom subscribed for 9.99% equity interest in YAH and acquired 9.99% of the remaining shareholder loan granted by CYPI to YAH. Accordingly, the capital increase price paid by each of Magenta and Cyan was USD 71,326,574, and the amount of shareholder loan acquired by each of them was USD 288,526,035.33. Upon the completion of the joint investment, ACE III held 19.98% of the shares of YAH and 19.98% of the shareholder loan claims against YAH. 

The leading partner and the undertaking partner of this project was HE, Fang.