KRP Development Holdings Limited (“KRP Development”, stock code: 02421.HK) was listed on the Main Board of the Hong Kong Stock Exchange by way of introduction on March 23, 2023. As a boutique residential property developer in the Greater Bay Area, KRP Development is principally engaging in development and sales of residential properties in the fast-developing residential markets in Dongguan, Huizhou and Foshan. KRP Development has developed two major product series, “Villas” series and “Mansion” series, targeting different homebuyers. Through years of accumulated experience in urban renewal projects, KRP Development has a competitive strength in the acquisition and development of urban renewal projects in Dongguan and Foshan.

KRP Development was spun off from Hong Kong-listed Karrie International Holdings Limited (“Karrie International”, stock code: 01050.HK). Before the spin-off and reorganization, Karrie International held 100% equity interest in KRP Development. KPR Development designed and implemented the spin-off plan, completed KRP International’s share distribution, and obtained approval from Hong Kong Stock Exchange for the spin-off and listing. Fangda assisted KRP Development in successfully completing its reorganization before the spin-off and listing.

Fangda acted as KRP Development’s PRC legal counsel, advising at all stages of the transaction including KRP Development’s pre-listing spin-off, reorganization and domestic company division, legal due diligence, prospectus and listing application drafting, and communication with regulatory authorities. Fangda team on this deal was led by partner LUO Ke, and the major team members included Napoleon Zhao, Elaine Li, Jing Xu and Ganxin Zhang.