In October 2019, Jinan Hi-tech Holding Group (hereinafter "Jinan Hi-thch") successfully issued U.S.$300,000,000 4.50 per cent. Bonds due 2022. China International Capital Corporation, Industrial Bank Co., Ltd. Hong Kong  Branch and Guotai Junan International acted as the joint global coordinators and also acted as the joint bookrunners and joint lead managers (hereinafter referred to as "Managers") together with CMB International.

Jinan Hi-tech is a wholly state-owned company funded by the Management committee of Jinan high-tech industrial development zone. Its responsibilities include the development and operation of the zone, public utilities, asset operation and management, and industry financing & investment. Since its establishment, Jinan Hi-tech insists on the concept of "relying on high-tech zone, serving high-tech zone, developing high-tech zone and repaying high-tech zone", takes "developing high-tech zone and building dream new city" as its own responsibility, and gives full play to the role of pioneer and main force in the development and construction of high-tech zone. It has invested in and built a number of commercial projects represented by Hanyu Gold Valley, a key project in Jinan and even in Shandong, as well as many high-quality residential projects such as Central Mansion and Phoenix International, which contributes to the investment promotion, industry clustering and industry-city integration of the zone. At the same time, Jinan Hi-Tech has been recognized by the competent government authorities, the industry and the general public alike, and has won such honorary titles as "Model Real Estate Enterprise of Brand Value in Shandong," "Client with Sound Credit Records of Shandong's Banking Industry," "Model Unit of Jinan May First Labor Certificate", and "Model Unit of Shandong Province."

As the PRC counsel to the Managers in connection with the issue of the Bonds, DeHeng formed a project team headed by Hou Zhiwei, DeHeng Beijing office partner, with supported by the lawyers Zhang Yan, Hu Xueyuan, Yang Jingjing, Xianyu Jiashan, Sun Yuehao and Wang Zhi. The project team provided professional, comprehensive and quality legal services for the issue of the Bonds.