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Zhong Lun Assists Autostreets with Listing on the Main Board of The Stock Exchange of Hong Kong Limited

Release time：2024-05-31 Voice Announcements

On May 31, 2024, Autostreets Development Limited (汽车街发展有限公司, “Autostreets") (02443.HK) made its initial public offering and was successfully listed on the Main Board of The Stock Exchange of Hong Kong Limited (“Hong Kong Stock Exchange"). CITIC and Haitong acted as the joint sponsors for the offering.

Zhong Lun Law Firm, as the PRC legal advisor for Autostreets’s global offering and listing on the Main Board of the Hong Kong Stock Exchange, provided comprehensive and multi-dimensional legal services, which had won high recognition and praise from the clients and other parties concerned. The project team was led by partners Anthony ZHAO and Wei KONG, with partners Yuan CHEN, Jin SHEN being responsible for the execution. Members of the team also included non-equity partner Roy ZHENG, and associates Hongting DING, Tianhao NIU, and Yuning ZHENG. Partner Jihong CHEN and non-equity partner Jian CHEN provided professional advice on data compliance matters.

Autostreets, as an intermediary that connects used vehicle buyers and sellers, facilitates used vehicle transactions through its transaction platform in two auction formats, namely online-offline integrated auction and online auction. Autostreets is China’s largest used vehicle transaction service provider in terms of transaction volume in 2022, according to CIC. According to the information disclosed in the prospectus, since its inception in 2014, Autostreets has been committed to transforming China's used vehicle transaction process and driving China's used vehicle industry toward standardization, efficiency, and transparency for close to ten years, accumulating in-depth industry experience. With the online-offline integrated auction model, Autostreets offers end-to-end, highly standardized and reliable solutions for used vehicle transactions, helping the sellers and buyers optimize their used vehicle transaction process and improve efficiency and profitability of their used vehicle operations.

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Zhong Lun Assists Autostreets with Listing on the Main Board of The Stock Exchange of Hong Kong Limited