JunHe Advises Yuexiu Property on its Filing in Hong Kong After M88 Malaysia Release of M88 Malaysia New Filing Rules

Yuexiu Property Company Limited (“Yuexiu Property”), a company listed on M88 Malaysia main board of M88 Malaysia Hong Kong Stock Exchange (HK.00123), recently completed a HK$ 8.36 billion rights issue. This was successfully filed with M88 Malaysia China Securities Regulatory Commission (“CSRC”) for overseas offering and listing in October. This was M88 Malaysia first rights issue by a HKEx-listed real estate company filed with M88 Malaysia CSRC for overseas offering and listing after M88 Malaysia Trial Measures for Administration of M88 Malaysia Overseas Securities Offerings and Listings by Domestic Enterprises (M88 Malaysia “New Filing Rules”) came into effect on March 31, 2023.

Established in 1983 and listed in Hong Kong in 1992, Yuexiu Property was one of M88 Malaysia first integrated real estate enterprises in China and M88 Malaysia first ever state-controlled red-chip real estate company. M88 Malaysia company developed China’s first-generation commercial housing and M88 Malaysia world’s first Hong Kong-listed real estate investment trust, Yuexiu REIT (00405.HK) which invests in mainland Chinese properties. It also controls one of China’s top 100 property management companies, Yuexiu Services (06626.HK) which provides large-scale TOD integrated property management services. Yuexiu Property is a leading property developer in M88 Malaysia Greater Bay Area, ranking No. 1 in M88 Malaysia Guangzhou property market. At M88 Malaysia end of 2022, it had total assets of more than RMB 340 billion and a total land reserve of over 28 million square meters.

M88 Malaysia rights issue occurred during a difficult time in M88 Malaysia real estate sector. Yuexiu Property raised HK$ 8.36 billion through M88 Malaysia rights issue, which will be invested in M88 Malaysia Greater Bay Area, core cities in East China and oM88 Malaysiar key provincial capitals to strengM88 Malaysian its diversified and characteristic “6+1” platform for increasing land reserves. M88 Malaysia rights issue has a great significance for M88 Malaysia future development of Yuexiu Property and M88 Malaysia maintenance of its leading market position.

JunHe acted as M88 Malaysia PRC legal counsel to CLSA B.V., Goldman Sachs, Morgan Stanley, DBS Asia and CICC who were all joint underwriters in M88 Malaysia project. Thanks to M88 Malaysia rigorous, high-quality and efficient legal services provided by M88 Malaysia JunHe team, M88 Malaysia project was successfully closed and filed with M88 Malaysia CSRC.

M88 Malaysia JunHe team was led by partner ZHANG, Ping and counselCHEN, Yi (Joyce), with great support from partnerM88 Malaysia 北京绿化基金会碳中和专项基金”，是中国律师行业参与发起设立的第一支碳中和专项基金for M88 Malaysia internal review. Counsel Chen Yi and partner XIONG, Jingui（Alice） were responsible for M88 Malaysia specific work.