Announcement

Tongshang Hong Kong is delighted to announce the appointment of Angela Zhang as a new hire to its corporate finance practice. Angela brings over 12 years of extensive experience in capital markets and financing practice areas, with a specialization in advising biotech, consumer products and education industries. Angela’s expertise and deep knowledge of the IPO process make her an exceptional asset to the firm. She has spent 2 years as an International Partner in Tian Yuan and several years in Sidley Austin and Kirkland & Ellis.

Angela's comprehensive understanding of the biotech and consumer industries, combined with her strong technical skills, has consistently delivered superior results for her clients.

"We are thrilled to welcome Angela to our team. Angela's specialized focus on advising biotech and consumer companies will allow us to better serve our clients in these rapidly evolving industries,” said Tongshang Hong Kong's Managing Partner, Eric Chow.

With our strong presence in Hong Kong's capital markets, the addition of Angela to our corporate finance practice further bolsters our expertise within the firm. As part of our ongoing growth strategy, we now have a team of 50 talented professionals and staff members who share our commitment to delivering exceptional legal services.

On 9 January 2024, Eric Chow & Co. in Association with Commerce & Finance Law Offices (“Tongshang Hong Kong”), together with our PRC office, Commerce & Finance Law Offices (“Tongshang”), jointly represented Concord Healthcare Group Co., Ltd. (“Concord HC GP”, Stock Code: 02453.HK) in its listing and global offering of H shares on the Main Board of the Hong Kong Stock Exchange, with a market capitlisation of over HK$10 billion at the time of listing. CICC and Haitong International acted as the joint sponsors in this transaction.

Concord Healthcare Group Co., Ltd. is an oncology healthcare service provider in China serving both cancer patients and third-party medical institutions, with a market share of 0.5% in terms of revenue in 2022 in the private oncology healthcare service market in China, according to the F&S Report.

The collaboration between Tongshang and Tongshang Hong Kong has led to another successful achievement with the listing of Concord Healthcare. As the PRC and Hong Kong legal advisers for the issuer, we proudly provided “one-stop shop” comprehensive and high quality PRC and Hong Kong legal services.

Tongshang Hong Kong team was led by Managing Partner Eric Chow, Partners Clement Jiang and Brandon Chow, supported by Legal Assistant Ziwei Qiu.

On 22 December 2023, Eric Chow & Co. in Association with Commerce & Finance Law Offices (“Tongshang Hong Kong”), together with our PRC office, Commerce & Finance Law Offices (“Tongshang”), jointly represented Pu’er Lancang Ancient Tea Co., Ltd. (“Lancang Tea”, Stock Code: 06911.HK) in its listing and global offering of H shares on the Main Board of the Hong Kong Stock Exchange, with a market capitlisation of approximately HK$225 million at the time of listing. Lancang Tea is the only Pu'er specialist company and the second tea company to be listed on the Main Board of the Hong Kong Stock Exchange.

Pu’er Lancang Ancient Tea Co., Ltd. is one of the most famous Pu’er tea brands in China and is also the third largest Pu’er tea company in China in terms of revenue generated from Pu’er tea products with a market share of 2.4% in 2022.

Lancang Tea’s listing is yet another project completed by the collaboration between Tongshang and Tongshang Hong Kong acting as the Joint Sponsors and Underwriters’ PRC and Hong Kong legal advisers, respectively, where we proudly provided “one-stop shop” comprehensive and high quality PRC and Hong Kong legal services.

Tongshang Hong Kong team was led by Managing Partner Eric Chow and Partner Clement Jiang. Other team members include Registered Foreign Lawyer Kevin Tian, Legal Manager Sofia Long and supported by Legal Assistants Yunsi Xie, Ziwei Qiu and Peiqi Liu .

The Securities and Futures Commission in Hong Kong has recently launched a consultation on proposed guidelines for market soundings. The objective of this consultation is to bring clarity to regulatory expectations and assist intermediaries in their compliance with the general principles for conducting market soundings in capital market transactions honestly, fairly, and in the best interests of their clients and the integrity of the market. The consultation period will conclude on 11 December 2023. Read our latest newsletter below for the proposed reform.

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