• Fortior Technology (Shenzhen) Co., Ltd., a China-based motor driver integrated circuit technology company listed on the Shanghai Stock Exchange, on its US$289 million global offering and listing of H shares on the Main Board of the Hong Kong Stock Exchange. CICC acted as the sole sponsor.
• Zhou Liu Fu Jewellery Co., Ltd., a jewelry company based in China, on its US$166 million global offering and listing of H shares on the Main Board of the Hong Kong Stock Exchange. CICC and China Securities (International) acted as the joint sponsors.
• CICC, Goldman Sachs and Morgan Stanley as the joint sponsors, overall coordinators, joint global coordinators, joint bookrunners and joint lead managers and other underwriters on the US$1.3 billion global offering and listing of H-shares of Foshan Haitian Flavouring and Food Company Ltd., one of the leading condiment companies based in China, on the Main Board of the Hong Kong Stock Exchange. This is one of the largest A+H IPOs in 2025 and the first A+H dual-listed company in the condiments industry.
• CICC as the sole sponsor, overall coordinator, joint global coordinator, joint bookrunner and joint lead manager, and other underwriters on the US$38.67 million global offering and listing of H-shares of PegBio Co., Ltd., a Chinese biotechnology company focused on the in-house discovery and development of innovative therapies for chronic diseases, on the Main Board of the Hong Kong Stock Exchange as a Chapter 18A biotech company.
• UBS Securities, BOCI Asia, CITIC Securities and Merrill Lynch (Asia Pacific) as the joint sponsors, and other underwriters, on the US$650 million global offering and listing of China Resources Beverage, a leading soft drink company based in China under CR Group and listed on the Main Board of the Hong Kong Stock Exchange. This is one of the largest IPOs in Hong Kong in 2024.
• CITICS and Haitong International as joint sponsors on the HK$153 million global offering and IPO of Autostreets, China’s largest used vehicle transaction service provider, on the Main Board of the Hong Kong Stock Exchange.
• China Tourism Group Duty Free, the largest travel retail operator in the world, on its HK$16.2 billion global offering and IPO on the Main Board of the Hong Kong Stock Exchange. CICC and UBS acted as the joint sponsors.*
• UBS, CICC and China Renaissance as joint sponsors on the HK$1.2 billion global offering and IPO of Qingdao AInnovation Technology Group, an enterprise AI solutions provider, on the Main Board of the Hong Kong Stock Exchange.*
• Merrill Lynch (Asia Pacific) and Haitong International as joint sponsors on the HK$808 million global offering and IPO of Gushengtang Holding Limited, a TCM healthcare service provider, on the Main Board of the Hong Kong Stock Exchange.*
• CSCI as sole sponsor on the HK$977 million global offering and IPO of Deewin Tianxia, a provider of value-added services, including logistics and supply chain services, financial services and IoV data services, on the Main Board of the Hong Kong Stock Exchange.*
• Merrill Lynch (Asia Pacific) and UBS as joint sponsors on the HK$1.9 billion global offering and IPO of SCE Intelligent Commercial Management, a comprehensive property management service provider, on the Main Board of the Hong Kong Stock Exchange.*
• Ningbo Shanshan, a leading lithium-ion anode material and polarizer manufacturer in China, on its US$319 million Swiss GDR offering.*
• Joincare Pharmaceutical Group, an innovative scientific research-based integrated pharmaceutical group, on its US$92 million Swiss GDR offering.*
• Huatai Financial Holdings, as sole global coordinator on the US$215 million Swiss GDR offering of Yangzhou Yangjie Electronic Technology, a leading power semiconductor company.*
• Other ongoing Hong Kong IPO projects.

* including projects involved in prior to joining Paul Hastings