The five award-winning deals include:
- Air China Cargo RMB3.04bn SZSE IPO: Pillsbury was among the advisers appointed by Air China Cargo to advise the issuer’s overseas shareholders and branches in connection with its listing on the main board of the Shenzhen Stock Exchange. The transaction raised RMB3 billion and was the largest A-share IPO of 2024.
- Chery Automobile HK$9.15 Billion HKEX IPO: Pillsbury advised Chery Automobile on U.S. outbound investment rules in connection with its listing on the main board of Hong Kong Exchanges and Clearing, which raised HKD9.15 billion.
- Hengrui Pharmaceuticals Co., Ltd. HK$9 Billion H-Share Global Offering and Hong Kong Listing: Pillsbury acted as general regulatory counsel for Jiangsu Hengrui Pharmaceuticals, a leading Chinese pharmaceutical innovator, in connection with its listing on Hong Kong Exchanges and Clearing. The offering raised approximately HKD9.89 billion and was the largest healthcare IPO in Hong Kong in the past five years.
- Jet Midwest Group Cross Border Enforcement & Recovery Matter Jet Midwest: After Jet Midwest Group, a U.S. company, and its affiliates failed to repay a $6 million loan and remit $20.5 million in proceeds from consigned goods, Pillsbury advised the plaintiffs—two Chinese-linked consignors, Jet Midwest International and Top Jet Enterprises—in coordinated litigation and arbitration proceedings across the United States and Hong Kong. The team prevailed, securing a nearly $90 million arbitration award in Hong Kong, a $13 million judgment in Missouri, and sanctions against opposing counsel in New York City, ultimately recovering more than $100 million for the clients.
- Yitai Coal’s RMB$11.59 Billion Tender Offer for Control of Xinchao Energy: Pillsbury was among the U.S. firms acting for Inner Mongolia Yitai Coal in its tender offer for Shandong Xinchao Energy, priced at RMB3.40 per share, through which Yitai secured a 50.1% stake for approximately RMB11.56 billion—marking the first competitive tender offer on China’s A-share market. The matter evolved into a cross-border dispute over Xinchao’s U.S. oil and gas assets, with litigation across multiple U.S. jurisdictions and a settlement reached in October 2025, making it one of the largest recent cross-border corporate control battles involving a Chinese oil and gas company.
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Pillsbury’s China practice comprises more than 40 U.S., Chinese and international lawyers and is highly regarded for extensive experience in advising Chinese clients on strategic outbound investments and foreign investors doing business in China or investing in the region.