2023.07.28
On June 14, 2023, the China Securities Regulatory Commission (“CSRC”) approved the application by Jiangxi First Hydraulic Co., Ltd. (“First” or the “Company”) for registration of its initial public offering and listing of A shares on the GEM board. On July 25, 2023, the shares of First were listed on the GEM board of the Shenzhen Stock Exchange with the stock code of 301446. A total of 20 million shares were issued at a price of RMB 31.89 per share, raising RMB 637,800,000. JunHe acted as the legal counsel to First in the IPO.
Founded in April 2005, First is engaged in the research and development, production and sales of hydraulic pipeline systems. Its products include tubing assemblies, hose assemblies, pipe fittings, tanks and other hydraulic components. First is dedicated to providing customers with clean, safe and leak-free hydraulic pipeline systems, proximate services and overall solutions, and has established a strong competitive advantage. First has been recognized as a specialized, sophisticated, distinctive and innovative small and medium-sized enterprise in Jiangxi Province, a Jiangxi provincial enterprise technology center, a specialized little giant enterprise in Jiangxi Province, a specialized, sophisticated, distinctive and innovative small and medium-sized enterprise in Jiangsu Province, and a high and new-technology enterprise.
JunHe acted as legal counsel to the issuer and provided comprehensive legal services throughout the entire process of this offering. These services included compliance, shareholding reform, pre-IPO tutoring, IPO application, and responding to feedback from the Shenzhen Stock Exchange. With its consistent delivery of efficient and rigorous legal services and detail-oriented and professional expertise, JunHe’s team was highly recognized and trusted by the Company and other intermediaries.
The JunHe team was led by partners WANG, Yi and JIANG, Wenjun (Kelvin), with support from partner WEI, Wei for the internal review.
