Grandway Advised China Bester on Convertible Bond Issuance to Unspecified Investors Approved by SSE

On June 27, 2023, China Bester Group Telecom Co., Ltd. (stock abbreviation: China Bester, stock code: 603220) was approved by the Listing Committee of Shanghai Stock Exchange (SSE) at its 58th meeting in 2023 for convertible bond issuance to unspecified investors.

China Bester positions itself as a communication network technology service provider and strives to be a participant in smart city construction. Its business primarily focuses on 5G new infrastructure construction. China Bester serves as a key service provider for China Mobile, China Telecom, and China Unicom, while also offering smart city and 5G industry application services to large enterprises such as China Tower Corporation, South-to-North Water Diversion Project, China Energy Engineering Group, and China Gezhouba Group, as well as governments at all levels. While solidifying its 5G new infrastructure business, the company will vigorously expand its new energy operations. In terms of international business, China Bester undertakes Engineering Procurement Construction (EPC) contracting projects in countries along the Belt and Road and has established overseas subsidiaries in regions such as the Middle East, Southeast Asia, and Africa. This enables China Bester to extend its professional expertise, system platforms, and full lifecycle project management experience to these business regions.

China Bester plans to issue convertible bonds to unspecified targets, raising a total of no more than RMB 517 million yuan. The funds will be used for China Bester’s contracted China Mobile 2022–2023 centralized procurement project for communication engineering construction services. This project falls under the communication network construction business and is an integral part of China Bester’s core “5G new infrastructure construction” operations. The successful approval of this convertible bond project will benefit the development of China Bester’s main business, expand its operational scale, enhance its profitability and risk resistance, consolidate its leading industry position, and support sustainable growth. Additionally, as a key new infrastructure project supporting digital technology, it will help accelerate the development of the digital economy and efficiently empower the construction of Digital China.

Following its successful assistance in China Bester’ initial public offering on the SSE Main Board, Grandway Law Offices continues to serve as the legal advisor for this convertible bond project, providing professional and high-quality legal services throughout the process. The project is led by partner Lawyer Hu Qi, with signing lawyers including Lawyer Hu Qi, Lawyer Dong Yiping, and Lawyer Xu Huanming. Other project team members include Dong Linqian.

We would like to extend our gratitude to the issuer, China Bester, the sponsor Haitong Securities Co., Ltd., and the auditing firm Pan-China Certified Public Accounts LLP (Special General Partnership) for their trust and support in Grandway. We also extend our sincere thanks to every colleague at Grandway who contributed diligently to this project.