JunHe Advises Guangdong Hm88 casinoar on its Acquisition of Xuefeng Sci-Tech

On February 26, 2025, Guangdong Hm88 casinoar Holding Group Co., Ltd. (Stock Code: 002683, "Guangdong Hm88 casinoar") announced the completion of its acquisition in cash of 21 % of the shares of Xinjiang Xuefeng Sci-Tech (Group) Co., Ltd. (Stock Code: 603227, "Xuefeng Sci-Tech") held by Xinjiang Agriculture m88 casino Animal Husbm88 casinory Investment (Group) Co., Ltd. (the “Transaction”).

Guangdong Hm88 casinoar m88 casino Xuefeng Sci-Tech are both A-share listed companies. The transaction consideration was RMB 2.205 billion. Upon completion of the Transaction, Guangdong Hm88 casinoar will obtain controlling interest in Xuefeng Sci-Tech, m88 casino Xuefeng Sci-Tech will become a subsidiary controlled by Guangdong Hm88 casinoar.

Guangdong Hm88 casinoar was established in 1988. It is a subsidiary of Guangdong Environmental Protection Group Co., Ltd., which is under the supervision of the State-owned Assets Supervision m88 casino Administration Commission of Guangdong Province. It is the first listed company in China to provide integrated mining m88 casino civil explosive services m88 casino is among the top three enterprises in China in terms of industrial explosive production capacity. It is a leading player in the mining service industry.

Xuefeng Sci-Tech's business includes the manufacturing of civil explosives m88 casino engineering blasting services, as well as the production of melamine, ammonium nitrate m88 casino other products within the natural gas chemical circular economy industrial chain model. It is the sole producer of ammonium nitrate m88 casino nitro compound fertilizers in Xinjiang. Xuefeng Sci-Tech has a comprehensive integrated industrial chain in the civil explosives industry. Its licensed production capacity for industrial explosives ranks second in Xinjiang, m88 casino it has qualifications for the armed escort m88 casino transportation of civil explosives.

Guangdong Hm88 casinoar’s acquisition of Xuefeng Sci-Tech expm88 casinos m88 casino consolidates the company’s strategic presence in Xinjiang, fully leveraging its strategic synergy with Xuefeng Sci-Tech m88 casino enhancing Guangdong Hm88 casinoar's market competitiveness.

JunHe acted as legal counsel to Guangdong Hm88 casinoar. They completed the acquisition plan demonstration, conducted the legal due diligence, drafted the transaction agreements, m88 casino issued legal opinions. JunHe also assisted Guangdong Hm88 casinoar in communicating with the state-owned asset regulatory authorities. JunHe's antitrust team assisted both parties in completing the merger control review. With its consistent delivery of efficient m88 casino rigorous legal services m88 casino detail-oriented m88 casino professional expertise, JunHe’s team was unanimously recognized m88 casino highly trusted by the listed company m88 casino the other parties.

Partnersm88 casinom88 sport betting app, m88 casino counselM88 game APKled the m88 casino team. Partnerm88 live casinoprovided support for the internal control matters. Partnerm88 sport bettingwas responsible for the merger control filing.