Daying Zhang

Daying’s representative experience includes advising:

Capital Markets — Equity

• The joint sponsors and underwriters on the HK$1.85 billion initial public offering of Caocao, a leading ride-hailing platform in China, on The Stock Exchange of Hong Kong
• The underwriters on the initial public offering of Yuanbao, a leader in the insurtech industry, on the NASDAQ
• The underwriters on the HK$333 million initial public offering of Baiwang, a Chinese enterprise digitalization solutions provider, on The Stock Exchange of Hong Kong
• The underwriters on the HK$985 million initial public offering of RoboSense Technology, a global leader in the LiDAR and perception solutions market, on The Stock Exchange of Hong Kong. This transaction was awarded Equity Capital Markets Deal of the Year by China Business Law Journal’s Deals of the Year Awards 2024
• The underwriters on the US$40.63 million initial public offering of American depositary shares on the NASDAQ Global Market for QuantaSing, an online learning service provider in China
• The underwriters on the HK$179 million H shares initial public offering on the Main Board of the Hong Kong Stock Exchange for AIM Vaccine, the largest private vaccine company in China
• Jinmao Property Services, the leading high-end property management provider in China, on its HK$825 million initial public offering on the Main Board of The Stock Exchange of Hong Kong Limited
• The underwriters on the follow-on offering of US$1.42 billion American depositary shares by Futu, a financial technology platform in China, on the NASDAQ Global Market
• The underwriters in the secondary listing and US$1.07 billion initial public offering of Trip.com, a leading global one-stop travel platform, on the Main Board of The Stock Exchange of Hong Kong Limited
• The underwriters on the US$140 million initial public offering of American depositary shares on the NASDAQ for Adagene, a clinical stage biopharmaceutical company in China
• Kuaishou Technology, a leading content community and social platform globally, on its US$5.4 billion initial public offering and listing on the Main Board of the Hong Kong Stock Exchange
• The underwriters on the US$2.5 billion follow-on offering of American depositary shares by XPeng, a leading Chinese smart electric vehicle company
• The underwriters on the US$620 million initial public offering of American depositary shares on the New York Stock Exchange for Yatsen, the parent company of Chinese cosmetics brand Perfect Diary
• Nam Tai Property on the US$170 million private placement of its common shares with investors Kaisa Group and a large-scale integrated financial group based in Hong Kong
• The underwriters on the US$1.7 billion initial public offering of American depository shares on the New York Stock Exchange of XPeng, a leading smart electric vehicle company in China
• The underwriters on the offering of 9.5 million American depositary shares by Futu
• The underwriters on the US$33 million initial public offering of American depository shares on the NASDAQ of Quhuo, the largest workforce operational solution platform in China
• The underwriters on the offering of 1,122,682 American depositary shares listed on NYSE by China Online Education Group
• The underwriters on the US$130 million initial public offering of American depositary shares on the New York Stock Exchange of Phoenix Tree (Danke, one of the largest co-living platforms in China)
• The underwriters on the offering and sale of an aggregate of 36 million American depositary shares of Ctrip.com International by Baidu, including the option securities, at a total offering size of US$1 billion
• China New Higher Education Group on its HK$400 million private placement and top-up subscription
• The underwriters on the US$100 million initial public offering of American depositary shares on the NASDAQ of Futu, an online brokerage platform
• The underwriters on the US$207 million initial public offering and listing on the New York Stock Exchange of HUYA, a leading Chinese game-streaming platform*
• The underwriters on the US$110 million initial public offering and listing on the New York Stock Exchange of Huami Corporation, a leading smart wearables company based in Beijing*
• The underwriters on the US$166 million initial public offering and listing on the New York Stock Exchange of RYB Education, a leading Chinese pre-school education company*
• Sea Limited, the leading ‎internet company in Southeast Asia, on its US$884.5 million initial public offering and listing on the New York Stock Exchange*
• The underwriters on the US$1.4 billion initial public offering of American depositary shares and listing on the New York Stock Exchange of ZTO Express (Cayman), a leading express delivery company in China*
• The underwriters on the US$101 million initial public offering of American depositary shares on NASDAQ of Yintech Investment, a leading online provider of spot commodity trading services in China*
• Sky Solar on its US$44.2 million initial public offering of American depositary shares on the NASDAQ*
• iKang Healthcare Group on its US$152.7 million initial public offering of American depositary shares on the NASDAQ*
• Agricultural Bank of China on its initial public offering on the Hong Kong Stock Exchange and an international offering in reliance on Rule 144A and Regulation S, with a concurrent offering of A shares listed on the Shanghai Stock Exchange; with total proceeds of US$22.1 billion following the exercise of over-allotment options, the largest IPO ever at the time of offering*
• China Cinda Asset Management Company on its initial public offering on the Hong Kong Stock Exchange and an international offering in reliance on Rule 144A and Regulation S*

Capital Markets — Debt 

• Deutsche Bank, UBS, Morgan Stanley, BOCI, and Haitong Securities as underwriters on Minmetals Land’s issuance of US$200 million 7% senior guaranteed perpetual capital securities
• China Grand Automotive Services on its issuance of US$400 million of senior perpetual securities*
• The joint bookrunners and joint lead managers on the issuance of US$160 million 6.75% senior notes by China Singyes Solar Technologies, a Hong Kong-listed renewable energy solution provider and building contractor company in China*
• Haitong International Securities Company Limited on its investment in up to an aggregate amount of US$150 million in certain senior secured notes issuable by a Cayman issuer*
• China Grand Automotive Services, the leading passenger vehicle dealership and automobile services group and the leading passenger vehicle finance leasing provider in China, on its issuance of US$400 million of senior perpetual securities*
• Shenzhen Expressway, a Hong Kong-listed company, on its issuance of US$300 million of 2.875% investment grade bonds due 2021 listed on the Hong Kong Stock Exchange*
• Hydoo International, a Hong Kong-listed commercial property development company, which focuses on the development and operation of large trade and logistics projects in cities across China, on its issuance of US$100 millon of 13.75% senior notes due 2018*
• CNPC on its Rule 144A and Regulation S offerings of US$750 million guaranteed senior floating rate notes due 2017 and US$750 million guaranteed senior notes due 2019*
• The joint bookrunning managers on a Rule 144A and Regulation S offering of high-yield notes by MIE*
• The joint bookrunning managers on a Rule 144A and Regulation S offering of convertible notes by TAL Education Group*
• The representatives of the underwriters on the SEC-registered offerings of US$1.55 billion aggregate principal amount of senior notes and US$600 million aggregate principal amount of 7.875% fixed-to-floating-rate junior subordinated debentures by The Hartford Financial Services Group*
• Ally Financial on the SEC-registered offering of US$2.7 billion of trust preferred securities sold by the U.S. Department of the Treasury*
• PepsiCo on its SEC-registered offering of US$500 million aggregate principal amount of 0.875% senior notes due 2013, US$1 billion aggregate principal amount of 3.125% senior notes due 2020, and US$750 million aggregate principal amount of 4.875% senior notes due 2040*
• The joint bookrunning managers on a Rule 144A and Regulation S offering of US$650 million aggregate principal amount of 5.5% senior notes due 2019 by Legg Mason*
• The joint bookrunning managers and representatives of the underwriters on the filing of S-3 shelf registration statement and an SEC-registered offering of US$300 million aggregate principal amount of 2.95% senior unsecured notes due 2017 and US$500 million aggregate principal amount of 4.25% senior unsecured notes due 2022 by Wyndham Worldwide*
• The joint bookrunning managers and representatives of the several initial purchasers on a Rule 144A and Regulation S offering of US$200 million aggregate principal amount of 8.75% senior notes due 2019 by Kennedy-Wilson*
• The joint bookrunning managers on an SEC-registered offering of US$600 million aggregate principal amount of 3.50% senior notes due 2015, US$600 million aggregate principal amount of 5% senior notes due 2020, and US$300 million aggregate principal amount of 6.25% senior notes due 2040 by Aon*
• The joint structuring coordinators and bookrunning managers on a Rule 144A and Regulation S offering of US$1.25 billion aggregate principal amount of Series C junior subordinated notes by Liberty Mutual Group*

Litigations, Investigations, and Compliance Matters

Daying has also represented US-listed Chinese companies and multinational companies in their US securities, antitrust, and commercial litigations, as well as internal investigations and compliance programs.

*Matter handled prior to joining Latham