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JunHe Assists Chengchang Technology’s IPO on the Main Board of the Shenzhen Stock Exchange


On June 6, 2022, Zhejiang Chengchang Technology Co., Ltd. (Chengchang Technology with stock code: 001270) was listed on the main board of the Shenzhen Stock Exchange. JunHe acted as the counsel to the issuer. Chengchang Technology issued 27,953,500 new shares at RMB 21.68 per share, raising a total amount of RMB 606 million. Chengchang Technology’s IPO makes Shenzhen H&T Intelligent Control Co., Ltd. (H & T with stock code: 002402) the first listed company on the main board of the Shenzhen Stock Exchange to spin off a subsidiary to be listed on the Main Board.

A subsidiary of H&T, Chengchang Technology is engaged in the R&D, production, sales and technical services of microwave and millimeter wave analog phased array T/R chips. With innovation-driven development and technological independence, the company possesses scientific research strength and has undertaken many key-model equipment core chip supporting tasks. It has won numerous awards from government authorities at the national, provincial and municipal levels. 

With more than twenty years of development in the intelligent controller industry, H & T has obvious advantages in R&D, operation ability, supply chain integration and technology R&D. It has distinct competitive advantages in the global intelligent controller industry  and is one of the leading domestic high-end intelligent controller enterprises.

JunHe was counsel to the issuer in this project and has been rendering continuous and in-depth legal services to the company since 2019. JunHe’s team conducted comprehensive due diligence investigation, sorted out the red-flag legal issues and put forward important suggestions for standardized operations. They discussed and put in place the spin-off plans, completed the restructuring and set up a joint-stock company as well as executing the employee share incentive plan. JunHe conducted pre-IPO tutoring, filed the  application for the IPO, conducted effective legal analysis and provided efficient feedback regarding the key concerns of the China Securities Regulatory Commission during the audit. JunHe’s team was highly recognized by the company and the other intermediaries for its efficient and prudent delivery of meticulous, professional legal services, and in particular, its ability to deal with extremely complex legal issues.

In this project, the leading partners were Mr. FENG, Ai and Mr. YOU, Yi.  The undertaking partners were Ms. SHEN, Na and Mr. ZHANG, Xiangbin, and the internal review partner was Mr. LI, Zhi. Ms. LIU, Xinprovided guidance and aid regarding important legal matters and Mr. XIAHOU, Yinchu provided critical support at different stages of this 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.