Grandway Advised Wenke Landscape on Non-public Offering Project Approved by CSRC

On December 5, 2022, Shenzhen Wenke Landscape Co., Ltd. (abbreviation: Wenke Landscape, stock code: 002775) (“Wenke Landscape”) was approved by Issuance Appraisal Committee of CSRC for its non-public offering.

Wenke Landscape has been focusing on environmental business for 26 years, and has the qualifications of Class A Landscape Architecture Design, Class I General Contractor of Municipal Public Works, Class A Pollution Remediation, Class B Urban and Rural Planning, Class AAAAA Travel Agency, etc. It is one of the top 500 enterprises in Guangdong Province, one of the top 10 enterprises in China for comprehensive competitiveness in urban landscaping, a backbone enterprise in Guangdong Province in environmental protection industry, a national high-tech enterprise and the headquarters enterprise of Shenzhen City. Wenke Landscape is deeply cultivated in Guangdong-Hong Kong-Macao Greater Bay Area, and its business spreads nationwide.

In April 2022, Wenke Landscape completed the share transfer registration procedures for the change of control. Foshan Construction Development Investment Co., Ltd. (“Foshan C&D”) directly holds 23.00% of shares of Wenke Landscape and has 26.80% of its voting rights, becoming it’s largest shareholder, and the actual controller of Wenke Landscape was changed to Foshan State-owned Assets Supervision and Administration Commission.

The target of this non-public offering of shares is Foshan C&D, the total amount of funds to be raised will not exceed RMB 292.00 million. After deducting, the issue costs will be used to supply working capital.