Leading global law firm Herbert Smith Freehills Kramer has advised on Hangzhou Qiandaohu Xunlong Sci-tech Co., Ltd. (06715.HK)’s listing on the Main Board of the Hong Kong Stock Exchange.
“Hong Kong’s IPO market continues to show encouraging momentum, supported by investor appetite for quality issuers,” said Hong Kong partner Jason Sung. “This listing reflects the city’s continued strength as an international capital-raising venue.”
Xunlong Sci-tech is the world’s largest caviar company, with sales volume in 2025 more than four times that of the second-largest market competitor.
With over 20 years of industry experience, the company has built an integrated sturgeon and caviar value chain from sturgeon breeding and aquaculture, caviar processing, and sales and marketing, and has established the international caviar brand KALUGA QUEEN. Our caviar products are sold in 46 countries and regions, served across fine dining establishments worldwide, featured at the Academy Awards banquet, and supplied to the first-class cabins of several major international airlines — underscoring their exceptional quality and unique standing.
“We congratulate Xunlong Sci-tech on its successful listing on the Hong Kong Stock Exchange,” said Jason. “We are proud to have supported the company through this milestone transaction, drawing on our deep experience in Hong Kong capital markets.”
“Xunlong Sci-tech’s listing highlights the international growth potential of premium Chinese consumer brands,” said Hong Kong partner Jin Kong*. “Transactions of this kind require not only strong Hong Kong capital markets execution, but also a clear understanding of consumer brands, supply chains and international investor expectations.”
Herbert Smith Freehills Kramer has extensive experience advising on Hong Kong listings of Chinese consumer companies. In the past 12 months alone, the firm has advised on the listings of Eastroc Beverage (Group) Co. Ltd. (09980.HK, 605499.SS), Softcare Limited (02698.HK) and Bama Tea Co., Ltd. (06980.HK).
Partners Jason Sung and Jin Kong led a cross-office team advising the client, assisted by Kathy Zhang, Reagan Li, Jessica Sun, Cassey Wu, Allen Wang, Francis Wang, Renee Fung and Ray Tsang. Karen Chan also provided support.
