In July 2022, JunHe represented Chengdu Screen Microelectronics Co., Ltd. (“SCREEN” or the “Company”), in its initial public offer of 25,000,000 shares on the Shanghai Stock Exchange Science and Technology Innovation Board (stock code: 688053) at an initial offering price of RMB 55.53 per share. The gross proceeds of the offering are expected to be approximately RMB 1.388 billion with a P/E ratio of 60.64. The net proceeds from the offering would be more than 102.5% above the original estimate.

Founded in December 2014, SCREEN produces and manufactures semiconductors, integrated circuits and electronic information in the national defense science and technology industry and offers military electronic component reliability testing services. This includes electronic component inspection and reliability screening tests, destructive physical analysis (DPA), failure analysis services and technical support for reliability management.

The Company is a leader in the military electronic component reliability testing industry in China. It provides reliability testing services, including, inter alia, the Laboratory Accreditations granted by the China National Accreditation Service for Conformity Assessment (CNAS) and the Defense Science and Technology Industry Laboratory Accreditation Committee (DILAC).

JunHe acted as legal counsel to the issuer in this offering, and it has provided SCREEN with comprehensive legal services on an ongoing basis since 2019. JunHe’s lawyers conducted legal due diligence, identified key legal issues and provided legal advice on compliant practices. They discussed and implemented corrective action plans and assisted SCREEN in completing pre-IPO strategic financing and their restructuring into a joint-stock company. JunHe also assisted in implementing the key management incentive plans, and pre-IPO tutoring and IPO filing. In the IPO review process, JunHe’s lawyers conducted legal analysis and gave feedback and responded to issues that concerned the securities regulators. JunHe’s hard-work, state-of-the-art legal expertise and ultimately successful result was recognized by the client and the other intermediaries.

The JunHe team consisted of partners WEI, Wei, AN, Ming and LIU, Xin, with the support of partner LI, Ruochen (internal review).