Wang Hewei (Charles), a practicing lawyer in Hong Kong, is a partner of Tian Yuan Hong Kong. Charles specializes in legal work in corporate finance, including corporate listing and initial public offering, allotment of additional shares and compliance work after listing in Hong Kong. Charles regularly represents investment banks and issuers in capital market projects involving new listings on the Hong Kong Stock Exchange. Before joining Tian Yuan, he was a senior consultant of a well-known international law firm.

 

Q: How has your work changed in the past two years when you transferred from an international firm to a Chinese-funded firm?

 

A: In fact, there is no special change in the work itself, but the identity and psychological identity have undergone a period of adjustment. In the Hong Kong legal market, most capital market clients (whether companies or investment banks) are less familiar with and understand the capabilities and experience of the Hong Kong platform of Chinese-funded firms than those Anglo-American international firms that have been operating in Hong Kong for many years. No matter where you are from in the past, the team of a Chinese capital firm needs to re-establish trust and demonstrate capabilities in front of clients. It still takes a lot of extra time and energy to do these tasks. The process is full of hardships and challenges. Only by adjusting your mentality and firm beliefs can you persevere in doing it.

 

Q: Can you share the most challenging project undertaken in the past two years, how did you overcome it?

 

A: In 2020, a company in the TMT industry hopes to transfer from the Growth Enterprise Market of the Hong Kong Stock Exchange to the Main Board of the Hong Kong Stock Exchange for listing. However, due to some macro policy restrictions of the Hong Kong Securities Regulatory Commission, the seemingly simple transfer is not feasible. The client asked the participating intermediary agencies to work together to find a way to help the company realize the listing of a subsidiary engaged in SaaS business on the main board of the Hong Kong Stock Exchange when the spin-off is not feasible. There have been very few successful cases of such practices in the Hong Kong capital market in the past. Our team and other intermediaries involved in the project conducted long-term rule research, case analysis, and 10 months of written communication with Hong Kong regulators, and finally implemented a plan for privatization of the GEM listing entity + subsidiaries to be listed on the main board at the same time. The program has been initially approved by the Hong Kong regulatory agency and meets the client's demands to the greatest extent.

 

Q: For young lawyers who are interested in developing in Hong Kong, can you share some suggestions for entering the Hong Kong capital market?

 

A: Lawyers engaged in legal services in the Hong Kong capital market have long working hours and high pressure. Especially as a young lawyer, the work is very tedious and tedious. I think being able to calm down and have a tenacious and unflinching perseverance in the face of difficulties in the work is a necessary condition for entering the industry. In addition, under the glamorous appearance of the capital market, there are many not-so-glamorous or unfair realities. Lawyers need to have bottom-line thinking, risk awareness and be able to be as calm as possible when facing some temptations.

 

Q: Hong Kong capital market lawyers work very intensively. How many hours do you sleep every day? What hobbies do you have outside of work?

 

A: When I was a young lawyer, staying up all night was commonplace. As I got older, my life became more regular. I like to get up very early every morning and finish some textual or in-depth research work before everyone goes to work at 9 o'clock. After 9 o'clock, I mainly deal with some work communicating with customers and colleagues. In this way, I can go to bed early at night. When the project is not particularly busy, I will keep at least 6-7 hours of sleep every day. In the past, my hobby outside of work was traveling, but now all I can do outside of work is take care of my baby.

 

Q: Can you share your long-term career ideals and goals?

 

A: I hope to continue to be a competent capital market lawyer.