Ashurst acted as international legal counsel on sanctions and US outbound investment regulations for Estun Automation Co., Ltd. (SEHK: 2715) and Shenzhen Zhaowei Machinery & Electronics Co., Ltd. (SEHK: 2692) in connection with their H-share listings on the Main Board of the Hong Kong Stock Exchange.
Estun is a prominent automation and robotics company focused on the research and development of motion control systems, industrial robots, and digital products. It has ranked first among domestic enterprises in China's industrial robot solutions market by shipment volume for multiple consecutive years; Zhaowei is a provider of micro-drive and drive system products, with applications spanning intelligent vehicles, consumer and medical technology, advanced industrial manufacturing, and embodied robotics. It is the largest integrated micro-drive and drive system product provider in China and the fourth largest globally by 2024 revenue.
In both transactions, Ashurst advised on compliance with the US Outbound Investment Security Program ("OISP"), international sanctions, and export control regulations. With OISP-related regulations continuing to evolve, navigating US outbound investment rules has become critical for Chinese companies seeking Hong Kong listings.
The Ashurst team was headed by Tokyo office managing partner Alexander Dmitrenko. Other team members included Vicki Tang, Kenneth Lee, Eleanor Zhao, and Joyce Ng.
Ashurst's global sanctions team covers sanctions, export controls, US outbound investment regulations, tariffs, and supply chain compliance. Supported by lawyers qualified in the US, UK, Hong Kong, Canada, the EU, and Australia, Ashurst has acted as trusted counsel to Chinese companies throughout their Hong Kong listing processes. Alexander and his Tokyo team are both repeatedly recognised by Chambers and Partners Asia-Pacific for their work in international trade.
