New Regulations on Overseas Listings for Chinese Companies: Six Key Signals Analyzed
On February 17, 2023, with the approval of the State Council, the China Securities Regulatory Commission issuedGarnering Widespread Attention from the Capital Marketsthe Trial Measures for the Administration of Overseas Securities Offering and Listing by Domestic Companies (the “Trial Administrative Measures”), and concurrently issued related supporting regulatory guidelines (Note: the Trial Administrative Measures and the related supporting regulatory guidelines are collectively referred to as the “New Rules on Overseas Listing”).
The Introduction of the New Regulations for Overseas ListingsMarking the Entry of Domestic Enterprises’ Overseas Listings into the Era of the Filing-Based System, domestic enterprisesDirect Overseas Listing(H-share listing) andIndirect Overseas Listing(IPO of Companies with Red-Chip Equity Structures or VIE Structures)All must complete the filing procedures with the China Securities Regulatory Commission in accordance with the requirements of the new regulations on overseas listings.
Tuesday, March 7, 2023, 15:00–16:00VCBeat Select, in collaboration with Shihui Partners, launches the course “New Regulations on Overseas Listings by Enterprises Released: A Comprehensive Analysis of Six Key Signals!” Lawyers from Shihui Partners will provide an in-depth analysis of the new regulations on overseas listings.Main ContentandCore Focus AreasConduct a detailed analysis and provide a comprehensive interpretation of the new regulations on overseas listings, drawing upon Shihui’s practical experience in overseas listing transactions.To help healthcare sector companies accurately understand the latest regulatory policy changes regarding overseas listings at the earliest opportunity.
Scan the QR code in the poster below to register for the live stream:
1. Overview of New Regulations for Overseas Listings
2. Circumstances Prohibiting Overseas Issuance and Listing
3. CSRC Filing Procedures Required for Overseas Listing
4. Impact of the New Overseas Listing Regulations on VIE-Structured Companies
5. Other Newly Added Verification Points (Matters Such as Nominee Shareholding, Equity Incentives, and Last-Minute Share Subscriptions)
6. A Comparative Analysis of the Capital Markets in Mainland China (A-shares), the United States (U.S. stocks), and Hong Kong (H-shares)
7. Analysis of IPO Strategies for Companies in the Healthcare Sector
Founders and CEOs of startups and growth-stage companies in the biopharmaceutical, medical device, digital health, and healthcare services sectors
[Recommendation: ★★★★★]
Heads of Strategic Financing or Development, and CFOs at startups and growth-stage companies in the biopharmaceutical, medical device, digital health, and healthcare services sectors
[Recommendation: ★★★★★]
General Counsel for Startups and Growth-Stage Companies in the Biopharmaceutical, Medical Device, Digital Health, and Healthcare Services Sectors
[Recommendation: ★★★★★]
Investors at All Levels in Healthcare-Focused Investment Firms
[Recommendation: ★★★★★]
If you belong to the aforementioned groups, or if you are planning for your company’s listing venue, listing pathway, financing, equity structure establishment, or equity incentives against the backdrop of the new regulations on overseas listings, be sure not to miss this information-packed open course.
Lawyer Luo Yu’s primary practice areas include venture capital and private equity investment, domestic and overseas listings, corporate equity incentive plans, corporate compliance advisory, and corporate restructuring. The industries covered encompass healthcare and life sciences, TMT, consumer goods, high-tech, education, and finance.
Mr. Luo Yu, an attorney, possesses extensive legal experience in investment, financing, and capital markets, with particular expertise in corporate restructuring and capital market operations. He has played a leading role in numerous high-profile projects, including the secondary listing of JD.com on the Hong Kong Stock Exchange (HKEX), the listings of JD Health, Liepin Group, Genetron Holdings, and LexinFintech on overseas exchanges. Additionally, he has represented multiple investment institutions, such as Vertex Ventures China, K2VC, Shidao Capital, Weidu Capital, and Huimei Capital, in their investment activities, and has advised corporations including JD.com, Lenovo Group, and Topsports International in outbound investments and mergers and acquisitions.
Attorney Luo Yu was consecutively highlighted as a key recommended lawyer by The Legal 500 in 2022 and 2023, and was ranked among the Top 30 Rising Stars in China’s Legal Industry for 2022 by the renowned legal rating agency LegalBand.
Mr. Zhu Zan has extensive legal experience in investment, financing, and capital markets within the healthcare sector. He specializes in designing complex transaction structures, cross-border corporate restructurings, and capital market operations. He has led nearly 1,000 investment and financing projects, including numerous high-impact engagements such as the various rounds of financing, restructurings, and/or domestic and overseas listings for dozens of traditional and new-economy enterprises, including JD.com, JD Health, Genetron Health, and LexinFintech Holdings.
Mr. Zhu Zan has successively led the secondary listing of JD.com, Inc. (09618.HK) in Hong Kong, as well as the initial public offerings of JD Health International Inc. (06618.HK) and JD Logistics, Inc. (02618.HK) in Hong Kong. Each of these IPOs ranked among the top ten largest offerings globally in their respective years.
Ms. Zhu Zan is a distinguished lawyer highly recommended by Chambers Greater China Region Guide, as well as by the authoritative ranking agency The Legal 500 Asia-Pacific and the internationally renowned financial legal media IFLR1000 (International Financial Law Review). For consecutive years, she has been recognized by China Business Law Journal as one of the “A-List: China’s Top 100 Legal Elite.” Meanwhile, Ms. Zhu has been ranked by the prominent legal rating agency LEGALBAND among the “Top 15 Most Preferred Female Lawyers in China” and the “Top 15 Versatile Experts in Capital Markets,” and has also been listed on the LEGALBAND China Top Lawyers Ranking.
Shihui Partners brings together a distinguished team of top-tier lawyers, committed to becoming a leader in the legal services industry. With exceptional legal expertise and business insights, the firm has successfully served renowned enterprises both domestically and internationally, earning widespread market recognition.
Shihui Partners has demonstrated outstanding expertise across a wide range of practice areas, including mergers and acquisitions, securities and capital markets, private equity investment funds, foreign direct investment, outbound investment, wealth management, asset securitization, dispute resolution, compliance, antitrust/competition law, data protection, labor and employment, and intellectual property. Guided by the principle that technology shapes the future, Shihui Partners is committed to building an intelligent law firm by vigorously developing information technology and smart systems to optimize work processes. The firm’s technological advantages serve as the foundation for its high-quality legal services.
“VCBeat Select Open Courses” is one of the branded columns under VCBeat’s “VCBeat Select” initiative. Centered on addressing development pain points and exploring systematic solutions in the healthcare sector, it leverages an online live-streaming platform for knowledge sharing and exchange. By continuously inviting seasoned industry practitioners and experts to collaboratively develop a series of thematic courses, it aims to provide healthcare enterprises with in-depth, high-value practical insights. VCBeat Select Open Courses: Making the selection of knowledge simpler.
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