Mingyang Smart Energy Group Co., Ltd. (Stock abbreviation: Mingyang Smart Energy; Stock code: 601615) issued global depositary receipts (GDR) that have been conditionally traded on the London Stock Exchange on July 8, 2022. It will be officially listed on the 13th (stock code: MYSE.L).The total amount of funds raised in this issuance is about 706 million US dollars, and has set a number of records: the company is the first A-share listed company to complete the overseas listing of GDR since the implementation of the "Regulations on the Interoperability of Depositary Receipts Business in Domestic and Overseas Stock Exchanges"; It is the first private enterprise to successfully issue GDR so far; this issuance is the first GDR project to achieve a 10% discount higher than the average price of the previous 20 trading days so far; the final acquisition of international sovereign funds and domestic and foreign long-term funds The allocation ratio exceeds 70%, which is one of the projects with the highest bookkeeping quality among Chinese overseas issuers since 2022. Tian Yuan, as the issuer's domestic lawyer, provided full legal services for Mingyang Smart Energy's GDR issuance.

 

Mingyang Smart Energy was established in 2006 and is headquartered in Zhongshan, Guangdong, China. As a global wind turbine manufacturer and clean energy overall solution provider, Mingyang Smart Energy is committed to building a wind, solar, storage and hydrogen matrix high-end equipment manufacturing system, which is in line with the internationally advanced ESG (Environmental, Social and Governance) principles. Mingyang Smart Energy was also approved to use the "Green Economy Mark" of the London Stock Exchange after its listing. Mingyang Smart Energy's business covers the research and development, production and sales of large-scale wind turbines and their core components, the development, investment, construction and intelligent operation and management of wind farms and photovoltaic power stations. It ranks 18th among the top 500 global new energy companies in 2021, and ranks first in the global offshore wind power innovation ranking. It has developed into a smart energy enterprise group with important influence in the world.

 

Mingyang Smart Energy was originally listed on the New York Stock Exchange in the United States, and then completed privatization and delisting. Afterwards, Tian Yuan, as the issuer’s lawyer, assisted Mingyang Smart Energy in completing the A-share IPO in 2019, and continued to assist Mingyang Smart Energy in completing follow-up financing such as convertible bonds, non-public issuance of A shares, and this GDR issuance.

 

Tian Yuan partners Liu Yan and Yang Huipeng, and lawyers Liu Boyuan, Wang Ying, Zhang Miaoran, Cao Pei and Zhao Wanyu provided professional and efficient legal services throughout the entire issuance project. Tian Yuan will continue to work hard to provide a full range of legal services for more outstanding A-share companies to issue GDR projects with a craftsman's heart.