Deloitte China assists listing of Jinyuan Hchem in HK

Deloitte China assisted the spin-off listing of Henan Jinyuan Hydrogenated Chemicals Co. (Jinyuan Hchem, stock code: 02502.HK) on the Stock Exchange of Hong Kong (SEHK) on 20 December 2023. This is yet another spin-off listing that Deloitte China completed this year.

Jinyuan Hchem offered approximately 239 million H shares at HKD 1.2 each, raising about HKD 287 million.

(from left) Kay Wang, Deloitte China Audit and Assurance (A&A) manager; Ernest Lee, Technical partner and a member of the Listing Committee of the Stock Exchange of Hong Kong; Edward Au, Southern Region managing partner; Mingzhong Wang, Jinma Energy Executive Manager; Chiu Fai Yiu, Jinyuan Hchem Board Chairman; Yang Liu, Western Region Offering Services leader, Capital Marketing Services Group, and engagement partner of Jinyuan Hchem; Raymond Chen, Technical partner and engagement signing partner of Jinyuan Hchem; Perry Woing, Technical partner and engagement quality control reviewer partner of Jinyuan Hchem; and Will Tang, A&A manager, attend the listing ceremony of Jinyuan Hchem.

(from left) Will Tang, Deloitte China A&A manager; Yang Liu, Western Region Offering Services leader, Capital Marketing Services Group, and engagement partner of Jinyuan Hchem; Raymond Chen, Technical partner and engagement signing partner of Jinyuan Hchem; and Kay Wang, A&A manager, attend the listing celebration luncheon of Jinyuan Hchem.

Client overview

Jinyuan Hchem, which is spun off from Henan Jinma Energy Company (Jinma Energy, stock code: 06885.HK), is a supplier of hydrogenated benzene-based chemicals and energy products in Henan province, primarily focusing on the production and processing of hydrogenated benzene-based chemicals, which principally include pure benzene, toluene and xylene; and energy products comprising LNG and coal gas. It is also focused on hydrogen supply to fuel cell vehicles, building a network of hydrogen gas stations and expanding its footprint in the hydrogen energy industry chain.

Source: Jinyuan Hchem’s IPO prospectus published on 12 December 2023

Deloitte's role

Deloitte China assisted the listing of Jinma Energy in 2017. After the Jinyuan Hchem listing engagement, Deloitte China promptly established a multi-disciplinary engagement team, which leveraged their years of professional experience in serving Jinma Energy. To meet the pressing listing schedule, the engagement team cooperated closely with other professional parties and communicated with regulatory authorities. It took us just around three months from the time the company filed its IPO application to the completion of its listing on SEHK’s Main Board.

Deloitte China congratulates Jinyuan Hchem on its successful listing on SEHK. We will continue to provide high quality professional services and outstanding resources integration to assist more clients to take one-step ahead in today's increasingly competitive and complex business environment.