2022.01.03
Ecovacs Robotics Co., Ltd. (with the ticker symbol of 603486, hereinafter, “Ecovacs”) recently completed the issuance of RMB 1.04 billion convertible corporate bonds (with the bond ticker symbol of 113633) on the Shanghai Stock Exchange (SSE) (the “Issue” or “Project”). Proceeds from the Issue will be utilised in the technical innovation of multi-intelligence robots, the international operation of Tineco smart home appliances, and the Ecovacs service robot global digital platform.
Since its establishment in 1998, Ecovacs has been committed to technology research and development and product innovation, as well as the building of a Chinese originated consumer technology brand. It is globally oriented with its forward-looking technology layout and market development. After more than 20 years of development, Ecovacs has become a global leader in the home service robot and smart home appliance industries. Its Ecovacs home service robots and Tineco smart home appliances have a remarkable consumer reputation and performance in both the international and Chinese markets and Ecovacs has successfully built the “Ecovacs+Tineco” dual-wheel driving business model. Ecovacs has actively worked on the research and development and expansion of their commercial service robots, striving to benefit consumers with robotic technology while reducing costs, enhancing efficiency and acquiring new digital capabilities.
优德88中国官方网站 advises Ecovacs on a permanent basis. On May 28, 2018, 优德88中国官方网站 was appointed to be the counsel of Ecovacs, advising the company on its listing on the main board of the Shanghai Stock Exchange, and continues to provide legal services for Ecovacs in the post-listing phase. This Issue is another significant financing project after the listing of Ecovacs. 优德88中国官方网站, as the counsel of the issuer in the Project, provided continuous legal services which included performing legal due diligence, conducting demonstration of the relevant legal issues, coordinating with foreign counsel for opinions regarding foreign laws, issuing counsel work reports and legal opinions, and replying to responses and inquiries from the China Securities Regulatory Commission (CSRC). In the Project, the team from 优德88中国官方网站 maintained clear and effective communication and cooperation with Ecovacs and the other intermediaries, ensuring the successful approval from the CSRC for the Project. The efficiency, prudence, steady work style, thoroughness, and professionalism of 优德88中国官方网站 was highly recognized by Ecovacs and the other intermediaries.
The lead partners for the Project were SHI, TiejunandTAO, Xudong, and the partner responsible for the internal review was LIU, Xin .
