2025.02.16
On February 13, 2025, Beijing Fourth Paradigm Technology Co., Ltd. (stock code: 6682.HK, "4Paradigm") completed its H-share placement. The JunHe team acted as the domestic legal counsel to 4Paradigm. A total of 27.92 million new H shares were issued at a price of HKD 50.20 per share, raising approximately HKD 1.4 billion. The share placement is the first equity financing by a Chinese artificial intelligence company in the global capital market in 2025 and one of the largest new share placements in Hong Kong in recent years.
Established in September 2014, 4Paradigm is a pioneer and leader in the enterprise AI industry. It offers platform-centric AI solutions and leverages core technologies to develop end-to-end enterprise-class AI products that can be deployed to address efficiency, cost and value issues in the intelligent transformation of enterprises and enhance their decision-making capabilities. These products have been widely used in sectors such as finance, retail, manufacturing, energy and power, telecommunications and healthcare. 4Paradigm ranks first in the platform-centric decision-making enterprise AI market in China. In addition to decision-making AI solutions, 4Paradigm has also launched "SageGPT," an enterprise-class generative AI product designed specifically for business scenarios.
The project spanned approximately one month from kick-off to closing. JunHe conducted the legal due diligence under Chinese laws and took the lead in drafting and revising the filing documents for submission to the China Securities Regulatory Commission. JunHe assisted the company and the other intermediaries in efficiently completing the H-share placement. This project also demonstrated the swift and efficient nature of refinancing by Hong Kong-listed companies.
The JunHe team was led by partner JIANG, Wenjun (Kelvin), and partner LI, Zhi provided support for the internal control.
