Stevenson, Wong & Co. acted for Guizhou Shuanglong Airport Development & Investment (Group) Co., Ltd. (the “Issuer”) in its successful issuance of US$18.2 million 7.0% credit enhanced bonds due in 2026 (the “Bonds”). The Bonds were listed on The Stock Exchange of Hong Kong Limited on 2 March 2023 (Stock Code: 5735).

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Stevenson, Wong & Co. acted as Hong Kong legal advisers to Jiangxi Pharmaceutical Investment Co., Ltd. (the “Offeror”) in relation to (i) the acquisition of 9.0% (the “Acquisition”) of the entire issued share capital of the Charmacy Pharmaceutical Co., Ltd., a joint-stock company established in the PRC listed on The Stock Exchange of Hong Kong Limited (stock code: 2289) (“Charmacy”) with a consideration of HK$70,858,000 and (ii) the unconditional mandatory cash offer (the “Offer”) by the Offeror to acquire all the issued shares of the Company.

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Stevenson, Wong & Co. acted as Hong Kong legal advisers to the Neo-Concept Group in relation to the issuance of non-convertible redeemable preference shares for a total consideration of US$15,000,000 to VIAM, including its affiliates.

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Stevenson, Wong & Co. advised Jiangmen City Haina New Energy Investment Partnership (Limited Partnership) (江門市海納新能源投資合夥企業 (有限合夥)) (“Jiangmeng New Energy”) on its cornerstone investment in the global offering of CALB Co., Ltd. (中創新航科技股份有限公司) (Stock Code: 3931) (“CALB”).

CALB was officially listed on the Main Board of The Stock Exchange of Hong Kong Limited on 6 October 2022 and has raised HK$9.9 billion from its initial public offering, making it the third-largest initial public offering by fund raised in Hong Kong this year. CALB’s market capitalisation upon listing was HK$10.1 billion. CALB is a leading new energy technology company mainly engaged in the design, research and development, production and sales of EV batteries and ESS products. CALB is one of the top 10 companies in the global EV battery industry and is the third-largest EV battery maker in the PRC.

Jiangmen New Energy is a limited liability partnership established under the laws of the PRC and is principally engaged in the investment in the new energy industry with its own funds. The ultimate beneficial owner of Jiangmen New Energy is the Administration Commission of Jiangmen City (江門市人民政府國有資產監督管理委員會). Jiangmen New Energy invested in RMB700 million as cornerstone investment in CALB, making it the single largest cornerstone investor in value in the listing of CALB.

The SW team was led by corporate Partner Mr. Hank Lo and Senior Associate Mr. Terence Lau, supported by Paralegal Ms. Bethany Zhang.

Please contact Mr. Hank Lo or Mr. Terence Lau for any enquiries or further information about this transaction.

Stevenson, Wong & Co. acted as the Hong Kong legal advisers to Hong Kong Aerospace Technology Group Limited (Stock Code: 1725) (“HKATG”) in the establishment of a sponsored Level 1 American Depositary Receipt (“ADR”) Facility (ASTGY:OTC US) (the “Facility”) for the delivery of American Depositary Shares (“ADSs”) with The Bank of New York Mellon as depositary bank with effect from 22 August 2022.

The ADR is a negotiable receipt, resembling a stock certificate that is issued by a US depositary bank appointed by HKATG to evidence one or more American Depositary Shares (‘‘ADSs’’). Under the Facility, the ADSs will be issued against ordinary shares trading on the Main Board of The Stock Exchange of Hong Kong Limited deposited with a custodian bank under the Facility whereas the ADSs will be traded in the U.S. over-the-counter market.

HKATG is a China-based company principally engaged in the electronic manufacturing services for printed circuit board assembly (PCBA) and fully-assembled electronic products. The aerospace business includes satellite manufacturing, satellite measurement and controlling, and satellite launching.

Our Partners, Mr. Hank Lo, Mr. Gordon Tsang, Associates, Mr. Bun Chan and Mr. Andrew Fung, acted as the Hong Kong legal counsel for the establishment of ADR Facility.

Please contact Mr. Hank Lo or Mr. Gordon Tsang for any enquiries or further information about this transaction.

Stevenson, Wong & Co. advised Real Hero Ventures Limited (the “Offeror”) in relation to (i) the acquisition of 48.98% of the total issued share capital of 1957 & Co. (Hospitality) Limited (“1957 & Co.”, Stock Code: 8495) at the consideration of approximately HK$100 million (the “Acquisition”) and (ii) the mandatory general offer for all the outstanding shares in 1957 & Co. (the “Offer”). The entire issued share capital of 1957 & Co. was valued at approximately HK$205 million.

The Acquisition triggered the Offeror’s mandatory general offer obligation under Rule 26 of the SFC Takeovers Code. As such, the Offeror made a mandatory unconditional cash offer for all the outstanding shares in 1957 & Co. via its offer agent, Silverbricks Securities Company Limited. The Offer was closed on 17 August 2022. Valid acceptances had been received in respect of 86,266,000 offer shares, representing approximately 22.47% of the entire issued share capital of 1957 & Co.. Immediately after the close of the Offer, the Offeror was interested in approximately 71.45% of the entire issued share capital of 1957 & Co.

The Offeror is ultimately owned by Mr. Cai Weike (“Mr. Cai”). Mr. Cai is a seasoned investor and operator with over 10 years’ experience in PRC Internet, e-commerce, logistics trade, operation of restaurants and catering management related industries. On 19 August 2022, Mr. Cai was appointed as the chairman of the board and one of the executive directors of 1957 & Co..

1957 & Co. is a Hong Kong-based restaurant operation and management group that offers a variety of speciality cuisines in restaurants designed by award-winning interior and lighting designers. The company operates full-service restaurants under various brands, including Sushi Ta-ke, An Nam (including its junior brand, Petit An Nam), Modern Shanghai, Hokkaidon, Mango Tree (including its junior brand, Mango Tree Café), Gonpachi and Paper Moon. The company also provides restaurant pre-opening and management consultancy services in Hong Kong and the PRC.

The SW team was led by corporate partners Mr. Hank Lo and Mr. Gordon Tsang, senior associate Mr. Terence Lau, supported by associates Ms. Teresa Yip, Mr. Bun Chan and Mr. Gary Kwok. Partner Mr. Gordon Tsang is also serving as the joint company secretary and authorised representative of 1957 & Co..

Please contact Mr. Hank Lo, Mr. Gordon Tsang or Mr. Terence Lau for any enquiries or further information about this transaction.