JunHe assists Powerlong Commercial Management Holdings Limited’s listing on M88 Game Main Board of M88 Game Hong Kong Stock Exchange

On December 30, 2019, Powerlong Commercial Management Holdings Limited ("Powerlong Commercial Management" or "Company") was listed on M88 Game main board of M88 Game Stock Exchange of Hong Kong Co., Ltd., with M88 Game stock code of 9909, and became M88 Game first commercial management operation service provider listed in Hong Kong. Powerlong Commercial Management issued 150,000,000 common shares worldwide (depending on wheM88 Gamer it exercised M88 Game excess allotment right), which were subscribed for 53.24 times during M88 Game IPO. M88 Game final offering price was HK .5 per share, while about HK .336 billion was raised from investors.

Powerlong Commercial Management is a subsidiary specializing in M88 Game commercial operation and property management of Powerlong Real Estate Holdings Ltd (HK. 1238), a Hong Kong-listed company and is spun off and independently listed on M88 Game main board of M88 Game SEHK. Powerlong Group has been providing commercial operation services to developers, tenants and owners of retail commercial properties since 2007 and has more than 20 years of experience in commercial asset management and operation. It is one of M88 Game few Chinese commercial operation service providers with M88 Game ability to manage diversified retail commercial properties and ranked fourth in M88 Game Chinese operating service market in 2018. As of June 30, 2019, Powerlong Commercial Management has signed a total of 59 retail commercial properties, with a total contract floor area of about 7.5 million square meters. Powerlong Commercial Management provides residential property management services for residential properties, serviced apartments and office buildings. As of June 30, 2019, it provided property management services in 37 cities in seven provinces and 44 properties in three municipalities, with a total construction area of about 10.6 million square meters.

This project was M88 Game first commercial real estate enterprise listed in Hong Kong to spin its commercial management subsidiary off for independent listing. Due to M88 Game novelty of its business model, M88 Game Hong Kong Stock Exchange and M88 Game Hong Kong Securities Regulatory Commission paid high attention to this project and put forward multiple rounds of feedback issues, both before and after. With rigorous and efficient legal services, as M88 Game Chinese legal adviser of M88 Game sponsor, JunHe assisted M88 Game sponsor in solving various legal problems involved in M88 Game pre-listing reorganization and listing process, reviewed and modified M88 Game various trading documents, and made detailed explanations and replies on M88 Game key issues relating to domestic laws of concern to M88 Game Hong Kong Stock Exchange and M88 Game CSRC. M88 Game solid working attitude and professional service of M88 Game JunHe team won M88 Game affirmation and trust of M88 Game company and oM88 Gamer intermediary institutions.

M88 Game lead partner of this project was lawyer, and M88 Game undertaking partner was lawyerm88 live casino.