On June 30, 2023, ADICON Holdings Limited (“Adicon”, stock code: 9860.hk) completed its IPO and listing successfully on the Main Board of the Hong Kong Stock Exchange. Adicon is one of the top three independent clinical laboratory (or ICL) service providers in China, and currently operates 33 laboratories across China. As of December 31, 2022, Adicon offers over 4,000 medical diagnostic tests and provides high-quality testing services to more than 19,000 customers ranging from medical institutions, health check centers, to biopharmaceutical companies and CROs.

Acting as Adicon’s PRC legal advisor, the Han Yi team cooperated closely with the company’s management team, joint sponsors and co-advisors, and provided a full range of PRC legal services including, among others, group restructuring and structural advice, PRC legal due diligence review, investigation and report, drafting of the prospectus on all PRC law issues and responses to multiple regulatory inquiries. The Han Yi team’s hard work effectively supported the smooth listing of Adicon and won unanimous recognition and endorsement from all parties involved. This representation was led by our senior partners Richard Xu and Linda He, with assistance from partner Joyce Zhang, senior counsel Linhua Chen, and associates Evelyn Shao, Monica Chen and Ella Xia.

Han Yi acted as the PRC counsel to Carlyle and its co-investors in their strategic investment in Adicon back in October 2018. Since then, Han Yi has been diligently and skillfully providing various PRC legal advisory assistance to Adicon and Carlyle on an ongoing basis. On this special occasion of Adicon’s IPO and listing in Hong Kong, Han Yi very much appreciates its clients’ long-term trust and confidence with the firm, and will continue to deliver consistently reliable and top quality legal services going forward to contribute to their further development and success.