Dacheng assists in Successful Listing of Longda Shares on the Science and Technology Innovation Board of Shanghai Stock Exchange

On July 22, 2022, just as the third anniversary of the opening of the Science and Technology Innovation Board of Shanghai Stock Exchange, with Dentons Law Offices acting as the special legal counsel, Jiangsu Longda Superalloy Stock Co., Ltd. ("Longda Shares") was successfully listed on the Science and Technology Innovation Board of Shanghai Stock Exchange (stock code: 688231) at the issuance price of RMB39.08 per share, raising total proceeds of RMB2.41 billion (RMB1.4 billion of over-offering), at a P/E ratio of 343.5 times. This project is the first company to be listed on the Science and Technology Innovation Board of Wuxi in 2022.

The legal service team of the signatory on this project, including Mr. Fan Jianhong, Mr. Tian Xiajie, Mr. Chen and Mr. Song Xinhao, has provided special legal services for the entire process of this listing. The project team cooperated with the company and intermediary institutions and won the unanimous affirmation and recognition of all parties with diligent and conscientious working attitude and professional practice level.

Since its establishment in September 2004, Jiangsu Longda Superalloy Stock Co., Ltd. has been focusing on the research, development, production and sale of alloy materials. Its business is gradually expanding from alloy tubes (copper-based alloys) to nickel-base corrosion resistant alloys and superalloy. Aiming at serving the industrial chain of "two machines", the company has begun to strengthen the strategic investment in the high-temperature alloy business since 2015, has set up the casting high-temperature alloy production line and the deforming high-temperature alloy production line, and simultaneously adjusted and optimized the alloy tube business; moreover, it undertakes national major projects and provincial major projects, and its technologies have reached a domestic advanced level. Customers include Kelowen Heat Exchanger (China) Co., Ltd., Wuxi Chemical Machinery Co., Ltd., Dongfang Electric Group Dongfang Electric Machinery Co., Ltd., Jiangsu Zhongli Group Co., Ltd., GE POWER SERVICE (HONG KONG) LTD and others.