AIWAYS Auto Co., Ltd. ( "AIWAYS" ) completed its RMB 1 billion "B" round financing in May 2019. The investor was Shangrao Mingchi New Energy Innovation Investment Center ( "Mingchi Fund" ), a special fund set up by Jiangxi Provincial Development and Upgrading Guidance Fund to invest in AIWAYS. DeHeng has provided long-term legal services for AIWAYS' financing needs, including its Pre-A round financing, "A" round financing and this "B" round financing.
AIWAYS, a smart travel service company with deep involvement of users, is committed to the innovative application of smart technology to scenarios involving people, cars, travel and life style. In November 2018, AIWAYS released its first manufactured pure electric SUV, AIWAYS U5. At present, phase-I of the new plant of AIWAYS in Shangrao, Jiangxi has been put into operation.
As the legal counsel for AIWAYS, DeHeng formed a project team headed by DeHeng Shanghai office partner Yuan Lina and comprising attorneys Hu Tongting and Hu Xiaofeng, and provided professional, comprehensive, quality legal services for AIWAYS' B round financing. The scope of services includes the issuance and revision of a full set of transaction documents as well as comprehensive advices for the legal issues involved in this transaction.