Immediate release
11 November 2019

China top 50 enterprises latest investment in Hong Kong

HONG KONG, 11 Nov 2019 - Xinji Shaxi Group Co., LTD ("Xinji Shaxi" or "the Company"; Stock Code: 3603.HK), the largest operator of shopping malls for hospitality supplies in terms of operating areas as well as the rental revenue of hospitality supplies in China, commenced trading on the Main Board of The Stock Exchange of Hong Kong Limited last friday. On its first trading day, the share price of Xinji Shaxi closed at HK$1.3, which was 30% higher that the Offer Price of HK$1. A total of approximately 87.17million shares were traded. The turnover of Xinji Shaxi shares during the first tradiing day amounted to approximately HKD108million. It was one of the the best performing IPO last month.

Recently, the focus has been put on Budweiser Asia IPO with JP Morgan and Morgan Stanley as joint sponsors and CMGE IPO with CICC and BNP Paribas as joint sponsors. Xinji Shaxi IPO with Raffaello Capital as sole sponsor is another IPO that worth mentioning.

Zhanpeng Investment has 10% shareholdings in Xinji Shaxi. Zhanpeng Investment is funded by Shanghai Shenglong Investment Group Co., Ltd. While Mr. Wu Jianxun serves as the director of Shanghai Shenglong Investment, who is also named the non-executive director of Xinji Shaxi.

Shanghai Shenglong Investment Group Co., Ltd. was founded in Fujian by a famous Chinese entrepreneur Mr Lin Yi in 1999. The business footprints has extended throughout China and is currently headquartered in Lujiazui, Shanghai. Over the last ten years, Shanghai Shenglong Investment has become one of the top 50 enterprises in China. The real estate development projects spread all over the domestic and overseas markets. It offers real estate development, commercial management, hotel operation, culture and bank investment services.

Raffaello Capital is a well-known sponsor in Hong Kong participating in many successful IPOs such as Fineland Real Estate Services Group Limited (8376.HK), Champion Alliance International Holdings Limited (1629.HK) and Tian Yuan Group Holdings Limited (6119.HK)

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