On July 9, 2025, Beijing Geekplus Technology Co., Ltd. (‘Geek+’), stock code: 2590.HK) issued overseas listed ordinary shares and was listed on the main board of the Hong Kong Stock Exchange. Geek+ is the first H-share listed company to implement an ‘AB share’ structure (i.e., a differentiated voting rights arrangement). This marks another milestone for JunHe following its services for Xiaomi Corporation (stock code: 1810.HK), the first red-chip structured Hong Kong-listed company with an AB share structure (JunHe acted as the domestic legal counsel for the issuer) and for UCloud Technology Co., Ltd. (stock code: 688158), the first A-share listed company with an AB share structure (JunHe acted as the issuer’s legal counsel). JunHe has now advised on the first red-chip structured Hong Kong listing with a dual-class share structure, the first H-share listing with a dual-class share structure, and the first A-share listing with a dual-class share structure.
Geek+ provides global Autonomous Mobile Robot (AMR) solutions for warehouse fulfillment and industrial material transport, aiming to enhance supply chain efficiency while reducing reliance on manual labor. According to CIC, in terms of 2024 revenue, Geek+ has become the world’s largest provider of warehouse fulfillment AMR solutions with the largest global customer base.
Geek+ first established a red-chip structure in 2018 and its shareholders include prominent USD and RMB funds. The JunHe team has provided legal services to the company since August 2020. We assisted Geek+ in dismantling their complex red-chip structure within three months and helped it set up an AB share structure for the first time.
This H-share listing with a dual-class share structure had no precedent. The revised Company Law which came into effect in July 2024 provided a clear legal basis for domestic enterprises with an AB share structure to apply for H-share listings. Leveraging our professional experience, JunHe assisted Geek+ to complete the domestic legal procedures required during the listing application and successfully procure the first H-share listing with a dual-class share structure. With its consistent delivery of efficient and rigorous legal services and detail-oriented and professional expertise, JunHe’s team was recognized by the company investors and the other intermediaries.
JunHe acted as the domestic legal counsel to the issuer and the special legal counsel for the data compliance matters.
The JunHe team was led by SHI, Tiejun and WANG, Zhaohui (Zoe). JunHe partners LI, Ruochen, SHANG, Shiming (George) and SUN, Xiao were responsible for the specific work of the project. JunHe partner LIU, Yang was responsible for the data compliance matters, and partner ZHOU, Fang provided support for the internal control matters.
