On April 18, 2014, National Association of Financial Market Institutional Investors granted approval to Guangdong Highsun Group Co., Ltd. (hereinafter referred to as “Highsun Group”) for its registration of RMB600mln worth of private placement notes (PPNs).

On June 17, 2014, Highsun Group completed issuing first-phase PPNs for 2014. The notes, underwritten by Pingan Bank and with an interest rate of 7.60% and 180-day maturity, raised RMB150mln. Investors would be repaid principal plus interest when the notes became due.

Highsun Group (stock code: 000861) operates mainly in commerce and mining. Its venture in commerce includes commercial property development and management and hotel management.

Attorneys Rong Weiwei and Tang Yunyun from Dacheng’s Guangzhou office provided comprehensive legal counsel for Highsun Group in relation to the PPNs.