We advised Xunce on its concurrent placement of new H shares and convertible bonds issuance

Davis Polk advised Shenzhen Xunce Technology Co., Ltd. on its placement of 7,283,000 new H shares, for an aggregate consideration of approximately HK$784 million, and CNY1.36 billion U.S. dollar settled zero coupon convertible bonds due 2027.

Xunce offers real-time AI information technology solutions encompassing both data infrastructure and data analytics to industry-wide enterprises. Davis Polk also advised Xunce on its HK$1.08 billion IPO in December 2025. The shares are listed on the Hong Kong Stock Exchange.

The Davis Polk corporate team included partner - registered foreign lawyer Li He, partners James C. Lin, Ran Li and Jason Xu and counsel Bingqing Pan and Wendy Kan. Counsel Sarah E. Kim and associate Eric Spiniello provided 1940 Act advice. Members of the Davis Polk team are based in the Hong Kong, Beijing, New York and Washington DC offices.

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