On August 12, 2019, Henan Railway Investment Co., Ltd. (the “HNRI”) obtained a No Objection Letter on the Issuance of Non-public Corporate Bonds for Listing and Transfer of Henan Railway Investment Co., Ltd. from Shanghai Stock Exchange. According to this Letter, HNRI may non-publicly issue corporate bonds to raise up to 3 billion Yuan. Attorney Wang Shaoxing of ZhongYin Law Firm represented this client on this project.

HNRI is a large-scale wholly state-owned company funded by the People's Government of Henan Province to fulfill Henan Province’s obligations as contributor to railway projects jointly constructed by National Railway Administration and Henan Provincial Government, and is responsible for the cooperation between National Railway Administration and Henan Provincial Government, the investment & construction, fund raising, and operation & management of railway projects designated by Henan Provincial Government. HNRI has a registered capital of 15 billion Yuan and a credit rating of AA+.

Since the beginning of 2018, ZhongYin has represented HNRI on the issuance of bonds and debt financing instruments and has been well received by clients for its high-quality services.