Clifford Chance

Clifford Chance advises Xunfei Healthcare Technology on Hong Kong IPO and Listing

Global law firm Clifford Chance has advised Xunfei Healthcare Technology Co., Ltd. on its initial public offering and listing on the Main Board of the Hong Kong Stock Exchange.

Tim Wang, Chair of China Practice co-led the deal with partners Fang Liu and Virginia Lee with support from counsel Erxin Lu, senior associate Carson Wong, associates Astrid Zhuang and Ruonan Tang, legal assistant Rita Cao, trainee solicitors Erdong Zhao and Ziyi Fan, legal specialist Bryan Lu and legal analyst Menglin Liang.

Tim said, "We're honoured to assist Xunfei Healthcare Technology on its successful IPO and listing. This achievement underscores the critical role that the Hong Kong capital markets play in the growth and development of China's healthcare sector. Our extensive experience in advising healthcare companies on their capital market transactions ensures that we can provide the best possible support to our clients in this dynamic industry."

Xunfei Healthcare Technology is an AI-empowered healthcare solution provider, offering products and solutions that support a range of healthcare services, ranging from health risk warnings, early screening, auxiliary diagnosis and treatment as well as treatment effect evaluation to post-discharge management and chronic disease management.

Clifford Chance regularly advises on the capital markets transactions of some of China's most significant digital health companies, including Neusoft Xikang, Adicon, Sipai Health Technology, Dingdang Pharma and Medlive Technology.

In 2024 Clifford Chance advised on 15 Hong Kong listings by companies from a wide range of sectors, including

• leading auto chip maker Black Sesame as the first Commercial Company to list under the Exchange's Chapter 18C listing regime for Specialist Technology Companies, and the first semiconductor company to do so.
• the largest purified drinking water company in China, China Resources Beverages' US$650 million listing
• the largest integrated logistics service provider in China and Asia, and the fourth player globally, SF Holding's US$750 million listing
• premium Chinese beauty company Mao Geping Cosmetics' US$300 million listing, which was the most oversubscribed IPO of 2024, with the retail tranche oversubscribed 920 times.