Press Release

FCIB Acting as Sole Sponsor and Sole Underwriter for Non-public Offering of Qingdao Huijintong Electric Power Equipment Co., Ltd.

FCIB acted as sole sponsor and underwriter for Qingdao Huijintong Electric Power Equipment Co., Ltd.（Huijintong” or “the company”, 603577.SH）on its A-share non-public offering (“the deal”). On Sep 25th 2019, the newly-issued shares accomplished its initial registration and deposit in China Securities Depository and Clearing Co., Ltd Shanghai Branch. Net consideration of RMB 307.66million raised from the deal dedicates to working capital replenishment and bank loan repayment, which further reinforces the company’s business.

Huijintong is a professional manufacturer of transmission tower. After years’ of development, the company has established strong reputation in the market and has formed close cooperation with state electricity giants such as State Grid and China Southern Power Grid. These achievements benefit from the company’s modern management system, advanced technologies and equipment and sophisticated marketing strategies. The investor of the newly-issued shares in the deal is Tianjin Ansai Asset Management Co., Ltd, whose shareholder is China Oriental Group Co., Ltd （0581.HK）, a well-esteemed steel manufacturer in China. 

Since 2018, constructions of UHV(Ultra High Voltage) grid rides a new wave of growth. As the one of the top manufacturers, Huijintong grabs the opportunity and prospers its transmission tower business. The issuance not only injects liquidity to the company’s short-term operation, but also brings in long-term strategic investor, firmly supporting the company’s future development.

FCIB, acting as sole sponsor and underwriter, successfully assisted in deal structuring, efficiently coordinated investors and authorities, and constantly supervised information disclosure. This fully demonstrates FCIB’s strong execution capability and outstanding communications with regulators, which is highly appreciated by the client and the market.