Announcement

Tongshang and Tongshang Hong Kong jointly represented Guiyang County Rongcheng Holding Group Co., Ltd. (桂陽縣蓉城控股集團有限公司) on its issuance of CNY 258 million 5% credit enhanced bonds in China (Shanghai) Pilot Free Trade Zone due 2026 supported by an irrevocable standby letter of credit issued by Bank of Hunan Corporation Limited and listed on the Chongwa (Macao) Financial Asset Exchange Co., Ltd. (Stock code: MOXLB2322).

Guiyang County Rongcheng Holding Group Co., Ltd. is a wholly state-owned enterprise that serves as a core operating entity in carrying out infrastructure construction and upgrading activities in Guiyang County, Chenzhou City, Hunan Province. China Construction Bank (Asia) Corporation Limited acted as the trustee and principal paying agent in this transaction.

Tongshang Hong Kong team was led by Managing Partner, Eric Chow, and Partner, Priscilla Lee, supported by Registered Foreign Lawyer, Kevin Tian, Associate, Kathleen Liu, Trainee Solicitor, Sofia Long and Legal Assistant, Ziwei Qiu.

We’re incredibly honoured to be ranked by Legal 500 Asia Pacific Guide 2023 in three categories, including Firm to Watch: Capital Markets (Equity) and Corporate (Including M&A) and Leading Firm: PRC Firms In Hong Kong.

The Legal 500 ranks the capabilities of law firms across the world for 33 years. The rankings are based on feedbacks from clients and leading private practice lawyers in the legal market.

We are pleased to announce that our Hong Kong Managing Partner, Eric Chow, has been recognised as The A-List: China's Elite Lawyers by China Business Law Journal 2022.

According to China Business Law Journal, the report of A-List is based on extensive research received from thousands of in-house counsel in China and around the world, as well as partners at Chinese and international law firms.

Eric Chow & Co. in Association with Commerce & Finance Law Offices (“TSHK”) advised International Alliance Financial Leasing (HKEx: 1563) (“Listco”) in an acquisition of 70.00% of interests in Yantai Nanshan University, from Nanshan Holdings Co., Ltd. for a consideration of RMB 566 million, which constitutes an Extreme Transaction and a Connected Transaction under the Hong Kong Listing Rules.

Yantai Nanshan University is a private institution of higher education that primarily provides undergraduate and junior college diploma programmes in the PRC.

Listco is a PRC finance leasing company headquartered in Beijing, providing finance leasing and advisory services. Its three targeted industries in the PRC, including the healthcare, aviation and public infrastructure industries.

This transaction involves a cross industry acquisition, and therefore, it has to fulfill both the commercial arrangement and compliance with the Main Board Listing Rules.

Tongshang Hong Kong provided comprehensive Hong Kong legal services to the client throughout the project, including company restructuring, structured contracts, due diligence, drafting of transaction announcements and circulars, negotiation and liaison with the parties involved as well as the regulatory authorities.

The Tongshang Hong Kong team was led by managing partner Eric Chow and partner Priscilla Lee, supported by registered foreign lawyer Kevin Tian, associate Lawrence Tam and , our legal manager Kathleen Liu and trainee solicitors Benny Chung and Sofia Long.