Grandway Advised Hengbo on Listing on the ChiNext of SZSE

Hengbo Holdings Co., Ltd. (abbreviation: “Hengbo”, stock code: 301225) was listed on the ChiNext of Shenzhen Stock Exchange. Hengbo issued 25.88 million shares at a price of RMB 35.66 per share, raising total funds of RMB 923 million.

Hengbo is a national high-tech enterprise focusing on the R&D, production and sales of air intake systems and accessories for internal combustion engines, whose main products include air intake systems and accessories for automobiles, air intake systems and accessories for motorcycles and air intake systems and accessories for general machinery. Hengbo has been committed to R&D of automobile air intake system, motorcycle air filter, fuel evaporation pollution control system and other products, product performance has reached the domestic leading level, and take the lead in drafting the industry standard for motorcycle and moped air filter. Hengbo is China’s leading enterprise in the internal combustion engine parts industry, “Little Giant” enterprise and a specialized and sophisticated enterprise that produces new and unique products”.

The proposed investment of the proceeds includes automotive the projects of automobile air intake system, fuel evaporation pollutant control system, R&D renovation and upgrade and data center construction project, etc. It’s conducive to enhancing the overall market competitiveness of Hengbo and improving the production scale and technical R&D strength of Hengbo.