Appleby Hong Kong recently acted as British Virgin Islands (BVI) counsel to Tecnon (Fujian) Commercial Lighting Co., Ltd (Tecnon) in respect of its approximately RMB750 million acquisition of shares of Quanxinke Electronics Technology, Upkeen Global Investments Limited and Fast Achieve Ventures Limited (the three entities jointly hold all equity interest of Upstar Technology and SCE).
Tecnon is a Fujian-based lighting manufacturer which primarily produces lighting products used in the fields of retail, hospitality and advertising with shares listed on the Growth Enterprise Market of the Shenzhen Stock Exchange.
Upstar Technology partners with semiconductor suppliers to develop electronic components applied in smartphones, TV chips, intelligent home appliances and other consumer electronics. SCE offers products, services and solutions powered by AI and "Internet of Things" chips.
Counsel Vincent Chan led on this transaction and Jun He Law Offices acted as legal advisers to Tecnon as to PRC law.
Vincent commented "We are pleased to assist Tecnon on their new acquisition. The private equity industry is rapidly changing and clients retain us for our deep understanding of their needs, issues and goals."