Tiantai Law Firm Shanghai Office Assisted the Hodgen to Purchase Assets Through Equity Issue

On October 24, 2023, the assets reorganization project (the “reorganization”) of Hodgen Technology Co., Ltd. (the “Hodgen,” 300279.SZ) successfully completed the equity issue for the purpose of raising funds of RMB 47.5 million. The equity issued will be listed on the Shenzhen Stock Exchange GEM in the near future. The Shanghai Office of Tiantai Law Firm served as the legal advisor for the Reorganization.

The reorganization is for Hodgen to purchase 12.95% equity interests in Hodgen Intelligence LLC held by Anhui New Materials Fund, 12.95% equity interests in Hodgen Intelligence held by Huaibei Small and Medium-sized Fund, and 5.18% equity interests in Hodgen Intelligence held by Huaibei Shengda Construction Investment LLC by way of issuing equity. After the transaction, Hodgen Intelligence LLC will become a wholly-owned subsidiary of the Hodgen.

The transaction consideration for the reorganization was RMB 259 million, and the assets delivery was completed on December, 2022, as well as the registration of the payment to the original shareholders of the subject company. The successful implementation of the equity issue to raise funds marks the completion of the equity financing of the Hodgen.

The main business of the Hodgen is to design, produce and sell intelligent controllers and provide intelligent information solutions and services. The company’s intelligent controller products are mainly used in home appliances, automotive electronics and other related industries.

With the development of Internet of Everything and Artificial Intelligence technology, the intelligent controller business has a broad industry space. The company’s intelligent information solutions and services are mainly used in government, education, healthcare, security and other industries, providing customers with personalized information solutions.

As the special legal advisor of the Hodgen for the reorganization, the Tiantai Law Firm Shanghai Office formed a team including Mr. MA Quan, the partner of the Shanghai Office, and Mr. FANG Kai, to provide professional and efficient legal support and services for matters related to the issue and the purchase of assets.

Quan Ma, Partner of Shanghai Office

maquan@tiantailaw.com

Professionals: Capital Market, M&A, Tax

Mr. Ma graduated from East China University of Political Science and Law with a master degree in law and finance. He is the Partner of Beijing Tiantai Law Firm Shanghai Office and a member of the Company and Commercial Business Research Committee of Shanghai Lawyers Association. He has the qualification of independent director of listed companies. Since his practice, Mr. Ma has been engaged in capital market law business for more than 10 years, and has been deeply engaged in the company’s initial public offering (IPO). He is skilled in enterprise/company establishment, restructuring and initial public offering (IPO), refinancing of listed companies, M&A, equity structure design, corporate governance and other capital market business.

Kai Fang, the Lawyer of Shanghai Office

fangkai@tiantailaw.com

Professionals: Capital Market, M&A, Dispute Resolution

Mr. Fang graduated from Sun Yat-sen University with a master's degree. He holds the Board Secretary Qualification Certificate of Shenzhen Stock Exchange and the Securities Practitioner Qualification Certificate and the Intermediate Accountant Certificate of China. He has served as a securities affairs representative of listed companies for a long time and has extensive experience in corporate governance, standardized operations, investment and financing and other fields. During his career, he has participated in multiple M&A, investment and financing projects of listed companies, including Hodgen Technology Co., Ltd.’s strategic investment in Green Motive Technology Limited, Zhongke Xinrui Company’s acquisition of Wuxi Jingan Company.