Hylands Assists Redsun Group to Cooperate with Enshi Leifu Selenium Industry to Invest in the CNY 10 Billion Projects of the Selenium Industry

On December 27, 2018, Redsun Group and Enshi Life Selenium Industry Co. Ltd. (Life Selenium Industry) signed an investment cooperation agreement on the construction of Enshi International Digital Selenium-enriched Health Industry Ecological Park ‘One City, One Park’ and other projects. On January 8, 2019, Redsun Group signed a capital increase agreement with the Life Selenium Industry and their capital and asset operation platform Enshi Yuanfeng Asset Management Co. Ltd. (Yuanfeng Asset) to inject CNY 286 million into the project in the form of an increase in capital and share in the first period. Redsun Group officially began to invest in the projects of the Life Selenium Industry.

As early as February 2016, the legal team of attorney Hui WU, a partner of Hylands’ Guangzhou Office, participated in the project to provide comprehensive legal services for corporate operation and management, main business arrangement, financial standard operation, business model and market layout, asset divestment and reorganization and capital layout, project investment and financing and project construction, IPO, etc. With the facilitation of Hylands’ legal team, the project investor established the Annual Ring Fund and Yuanfeng Asset as the capital and assets operation platform of the Life Selenium Industry. The professional and efficient legal services provided by Hylands’ legal team provided strong legal protection for the transformation and upgrading, market layout, capital structure design, project investment, and construction, as well as the rapid advance of IPO of the Life Selenium Industry, thus becoming a bridge for win-win cooperation among all parties in the project.

The ‘International Digital Selenium-enriched Health Industry Project’ co-invested by Redsun Group and the Life Selenium Industry will become a demonstration enterprise for the implementation of industrial poverty alleviation by the Ministry of Agriculture and Rural Affairs of the PRC and a new business card for Enshi Tujia and Miao Autonomous Prefecture. The two enterprises intended to invest CNY 10 billion in Enshi Tujia and Miao Autonomous Prefecture in the next 3 to 5 years to build the world’s largest international digital selenium-enriched health industry cluster project with independent innovation capability, thus achieving a sales revenue of CNY 50 billion and a taxation of profit of over CNY 8 billion in seven years, creating more than 10,000 jobs, and achieving zero IPO breakthrough for enterprises of selenium industry in Enshi Tujia and Miao Autonomous Prefecture as soon as possible.