Tian Yuan Law Firm LLP ("Tian Yuan Hong Kong") assisted Taizhou Huaxin Pharmaceutical Investment Co., Ltd. ("Taizhou Huaxin") in completing three phases of overseas bond issuance:

On December 12, 2023, the issurance of senior unsecured credit-enhanced U.S. dollar bonds with a principal amount of US$42 million, a coupon rate of 6.0%, and due in 2026 was completed. The bond was supported by a standby letter of credit from the Taizhou Branch of Bank of Nanjing Co., Ltd. and was listed on the China (Macau) Financial Assets Exchange Co., Ltd. ("Macau Exchange");

On January 4, 2024, the issuance of senior unsecured credit-enhanced U.S. dollar bonds with a principal amount of US$53.5 million, a coupon rate of 5.6%, and due in 2027 was successfully completed. This bond was supported by a standby letter of credit from the Taizhou Branch of Bank of Jiangsu Co., Ltd. and was listed on the Macau Stock Exchange;

On January 16, 2024, the issuance of senior unsecured credit-enhanced US dollar bonds with a principal amount of US$60 million, a coupon rate of 5.55%, and due in 2027 was completed. The bond was supported by a standby letter of credit from the Taizhou Branch of the Postal Savings Bank of China Co., Ltd. and was listed on the Macau Stock Exchange.

Taizhou Huaxin's business revolves around the development and operation of Taizhou Pharmaceutical High-tech Zone. It was originally focused on land development and consolidation, key project construction, and infrastructure construction in the region. As Taizhou Pharmaceutical High-tech Zone gradually matures, the company's business has shifted to operating real estate leasing. , pharmaceutical product sales, industrial product sales and real estate sales, etc. The pharmaceutical logistics and sales business developed by relying on the high-tech zone also has certain resource advantages. Taizhou Huaxin has formulated a relatively clear development strategy and made a reasonable strategic layout based on its own characteristics. It has strong overall competitive advantages and broad development prospects.

Tian Yuan Hong Kong acted as the issuer's international legal advisor in this bond issuance project, providing the issuer with full legal services. The work completed by Tian Yuan Hong Kong includes but is not limited to drafting and revising bond issuance circulars, reviewing bond issuance-related transaction documents, assisting project delivery, and assisting issuers and underwriter teams, credit enhancement banks, and domestic and foreign legal counsel hired by all parties. Communicate and negotiate with consultants and relevant regulatory authorities, and complete the listing of the bonds on the Macau Exchange.

Tian Yuan Hong Kong has extensive experience in overseas bond issuance (especially overseas bond issuance by Chinese-funded enterprises). Adhering to the concepts of professionalism, dedication and diligence, Tian Yuan Hong Kong always provides high-quality and efficient legal services to clients, and fully understands the special and important matters that Chinese-funded enterprises need to pay attention to in overseas financing.