2023.12.15
Recently, Aerospace Intelligent Manufacturing Technology Co., Ltd. (formerly known as “Baoding Lucky Innovative Materials Co., Ltd.”, stock code: 300446, hereinafter referred to as “AIM” or the “Listed Company”) completed the closing and ownership transfer procedures for the purchase of assets through a share issuance in July 2023, and raised supporting funds.
In February 2022, AIM started its material asset restructuring. The overall scheme consisted of two parts: (1) purchasing assets through a share issuance, that is, the Listed Company issued shares to all shareholders of Chuannan Energy Technology Co., Ltd. (“CETC”) and Chengdu Space Mould & Plastics Co., Ltd. (“CSMP”) to purchase their 100% equity interest/shares in the two companies, for a total consideration of RMB3,303 million; and (2) raising supporting funds whereby the Listed Company issued shares to up to 35 qualified specific targets to raise supporting funds of no more than RMB2.1 billion.
The two target companies in the material asset restructuring were CETC and CSMP, both of which were subsidiaries of China Aerospace Science and Technology Corporation. Following the completion of the material asset restructuring, the Listed Company will enter the market for oil and gas equipment as well as the market for auto parts for both military and civil uses. Integrating its high-quality resources, it will also leverage its existing information anti-counterfeiting materials, electronic functional materials and fine chemical materials, and adopt aerospace manufacturing technology. AIM will become an industrial development platform of China Aerospace Science and Technology Corporation, with enriched product portfolios and enhanced profitability.
This project had a tight schedule. It had to obtain approvals from or make filings with the State-owned Assets Supervision and Administration Commission of the State Council, the State Administration of Science, Technology and Industry for National Defense, the China Securities Regulatory Commission, the Shenzhen Stock Exchange, and other competent authorities or regulatory bodies. In consideration of the above and the fact that CSMP’s IPO and listing application was once rejected, it was difficult to make compliant disclosures and obtain approvals. As many counterparties were involved, negotiations were challenging. As the counsel to the independent financial advisor in the material asset restructuring, JunHe provided whole-process professional and comprehensive legal services, including conducting the legal due diligence, drafting the filing documents, reviewing and revising the transaction documents, and assisting in responding to the stock exchange’s inquiries. JunHe’s team won high recognition and trust from the client and the other intermediaries for its rigorous attitude and efficient services.
