On September 6, 2019, Radiance Group Co., Ltd. (hereinafter referred to as "Radiance Group") received the non-objection letter from Shanghai Stock Exchange regarding its private placement of bonds which would be issued in tranches to raise no more than RMB 3 billion from eligible investors. Southwest Securities and First Capital Investment Banking Co., Ltd. would act as the underwriters.

In October 2019 Radiance Group successfully issued the 2019 non-public corporate bonds (the first tranche), worth RMB 850 million in a three-year term. The credit rating of the bond was AA+, the issuer's main credit rating was AA+, and the coupon rate was 7.50%.

Radiance Group was founded in Fuzhou in 1996 and moved its headquarters to Beijing in 2009. It is a large-scale real estate developer in China. In addition to real estate development, it is also engaged in property management and property leasing. Radiance Group has obtained the national first-class real estate development qualification and the first-class gold-medal property management service qualification. It focuses its business on the development of real estate in regions with high growth potential, including the Yangtze River Delta, mid-west China, Circum-Bohai Sea Economic Zone and the Pearl River Delta. It is striving to build up its leading edge in urban markets and expanding its national presence. So far, it has developed over 100 real estate projects in 30 Chinese cities, with a total development scale of 20 million square meters, and has ranked among China's top 36 real estate companies in terms of comprehensive strength.

As the legal counsel for Radiance Group, the DeHeng team, led by partners Zhang Xiaodan and Wu Lianhua in Beijing office, with primary support from Liu Tao, Chang Mengtian and Tian Yuan, provided professional, comprehensive and high-quality legal services for the non-public issuance of bonds.