Herbert Smith Freehills Kramer advises underwriters on Yinji Technology’s Hong Kong IPO

Leading global law firm Herbert Smith Freehills Kramer has advised CITIC Securities (Hong Kong) Limited, CLSA Limited, CCB International Capital Limited and other underwriters on Beijing Yunji Technolgy Co., Ltd. (02670.HK)’s H-share listing on the Main Board of the Hong Kong Stock Exchange.

“Yunji’s IPO reflects strong interest in tech that solves real-world problems,” said Hong Kong partner Matt Emsley. “We congratulate Yunji on its successful listing – we’re delighted to support listings that reinforce Hong Kong’s role as a global innovation and investment hub.”

Yunji Technology provides robots and functional kits, supported by an AI digitalisation system. The company leads the market in hospitality robotic-based AI agents that adapt to diverse scenarios. In 2024, Yunji Technology ranked first in China’s hospitality AI agent market and led globally in daily average concurrent robot operations.

Backed by eight rounds of pre-IPO funding, Yunji has attracted top-tier investors including Alibaba, Lenovo, Tencent, Qiming and Ctrip.

This is the sixth listing under Chapter 18C, a regime introduced by the Hong Kong Stock Exchange in March 2023 for specialist technology companies.

“This transaction reflects the growing demand for cross-office legal expertise in specialist tech listings,” said Beijing partner Stanley Xie. “Our team worked seamlessly across jurisdictions to navigate regulatory complexity and deliver a smooth execution for our clients.”

Herbert Smith Freehills Kramer is a leading adviser to both issuers and underwriters on Hong Kong listings. The firm advised on the first Chapter 18C listing, QuantumPharm Inc. (02228.HK), and also acted on Hua Hong Semiconductor’s dual listing on the STAR Market of the Shanghai Stock Exchange (688347.SSE) and the Hong Kong Stock Exchange (01347.HK).

Partners Matt Emsley, Stanley Xie and Jin Kong* led a cross-office team advising the underwriters, assisted by Jean Ji, Crystal Chan, Ting Wang, Yue Pei, Bo Tong and Eric Zhou.

Legal manager Marine Jin led Herbert Smith Freehills Kewei Joint Operation’s Digital Legal Delivery business to provide high-efficiency solutions for verification and other document-intensive processes during the listing, assisted by Grace Ji, Carol Wan, Chunqin Li and Jemma Gao.

*Due to regulatory requirements in Hong Kong, Jin Kong’s official title is Senior Registered Foreign Lawyer.