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JunHe Advises on BYD’s HK$43.5 Billion H-Share Placement

2025.03.11

On March 11, 2025, BYD Company Ltd. ("BYD") completed a lightning placement of 129.8 million new H shares on the Main Board of the Hong Kong Stock Exchange, raising approximately HK$ 43.5 billion (USD 5.6 billion).


BYD was first listed on the Main Board of the Hong Kong Stock Exchange in July 2002 and on the Shenzhen Stock Exchange in 2011. Its business covers automobiles, rail transit, new energy and electronics industries, making it one of the world's leading manufacturers of new energy vehicles.


The highlights of this project include:

  • The largest lightning placement in the global automotive industry to date

  • The largest H-share placement since 2010

  • The largest equity capital project on the Hong Kong Stock Exchange since May 2021


As the PRC legal counsel to the placement agent, JunHe participated in the legal due diligence, assisted in completing approval procedures with the PRC regulatory authorities, and helped BYD complete its HK$ 43.5 billion H-share placement. With its consistent delivery of efficient and rigorous legal services and detail-oriented and professional expertise, JunHe’s team was recognized and trusted by the company and the other intermediaries.


Partners YU, Yongqiang (YY) and SHI, Yun led the JunHe team, and partner YAO, Jiwei (Jervis) provided support for the internal control matters.

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.
As the first carbon neutrality fund sponsored by a law firm in China, the BAF Carbon Neutrality Special Fund was jointly established by JunHe and the Beijing Afforestation Foundation (BAF) to promote carbon neutral initiatives, and encourage social collaboration based on the public fundraising platform to mobilize engagement in public welfare campaigns.