The Tian Yuan Hong Kong team advised Shenzhen Woer Heat-Shrinkable Material Co., Ltd. (Stock Codes: 002130.SZ, 09981.HK) (“Woer”), one of the world’s largest manufacturers of heat-shrinkable materials and communication cable products, on its successful listing on the Main Board of The Stock Exchange of Hong Kong Limited on 13 February 2026.

Woer’s listing attracted 16 cornerstone investors and raised more than HKD 2.8 billion in total proceeds. In the Hong Kong public offering, the company recorded an oversubscription of more than 560 times, reflecting strong market enthusiasm. CSC Financial Co., Ltd. (International) and China Merchants Securities (HK) Co., Limited acted as joint sponsors for the listing.

Woer was first listed on the A-share market in 2007. With widely recognized product quality and a leading market position, Woer’s products play a vital role across various application scenarios in the telecommunications and power transmission industries. According to Frost & Sullivan, based on global revenue in 2024, Woer ranked first in the global heat-shrinkable materials industry, with a global market share of 20.6%.

In this project, the Tian Yuan Hong Kong team acted as Hong Kong legal counsel to the sponsor and underwriters, providing high-quality Hong Kong legal services throughout the listing process. The team’s professional services received unanimous recognition from the company and all parties involved in the project.

In this project, the Tian Yuan Hong Kong team was led by Managing Partner Nan Li, with support from Charles Wang, Isabelle Wu, Haobo Zhang, Joseph Chen, Fuhua Deng and Claudia Zhou.