Congratulations to Green Tea Group Limited. (6831.HK) on its successful Listing on the Mainboard of HKSE on 16 May 2025
Green Tea Group Co., Ltd. (“GreenTea”) focuses on chain restaurant operations. In 2008, Green Tea Group launched its first "Green Tea Restaurant" at the Longjing flagship location. Over the past 17 years, the company has expanded significantly, now operating more than 480 self-owned outlets across 130+ cities nationwide. GreenTea officially launched its overseas development plan in 2024, as of March 2025, there are four outlets in Hong Kong, China. Subsequently, GreenTea will continue to open restaurants in more cities, regions, and countries outside mainland China, bringing the fusion of Chinese culture and culinary feasts to more people around the world who share a passion for high-quality living.
With regard to this listing application, AVISTA Group is honoured to be engaged in providing valuation services related to total equity value and ESO. 
Congratulations again to Green Tea Group Limited. (6831.HK) on its successful listing. The issue price of the shares is 7.19 HKD per share, and the amount of funds raised is 745.79 million HKD.
 
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Congratulations to Green Tea Group Limited (6831.HK) on its Successful Listing

Breton Technology Co., Ltd. (“Breton”) is a China-based provider of electric-powered engineering machinery. Breton designs, develops and commercializes battery-electric engineering machinery with autonomous capabilities and provides intelligent operation services. Breton also designs and develops e-powertrain kits for battery-electric tractor trucks and collaborate with manufacturers to bring these vehicles to market.
With regard to this listing application, AVISTA Group is honoured to be engaged in providing valuation services related to long-term equity investments, financial assets, account receivables, long-term account receivables and guaranteed liabilities. 
Congratulations again to Breton Technology Co., Ltd. (1333.HK) on its successful listing. The issue price of the shares is 18.0 HKD per share, and the amount of funds raised is 147.8 million HKD.
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Congratulations to Breton Technology Co., Ltd. (1333.HK) on its successful Listing on the Mainboard of HKSE on 7 May 2025

Chagee Holdings Limited, originated in Yunnan, China, primarily engaged in the provision of the Chinese-style tea drinks brand – Chagee. It is a leading premium tea drinks brand, which focuses on premium and freshly-made tea, aiming to integrate Eastern culture with the heritage and innovation of tea drinks, creating a new style of Eastern tea house. Founded in 2017, Chagee has expanded from Southwest China to over 30 provinces and autonomous regions, and has opened stores in Southeast Asia, including Malaysia, Singapore, and Thailand, reaching a total of 6,440 stores by 2024.
 
With regard to this listing application, AVISTA Group is honored to be engaged in providing valuation services related to preferred shares, employee stock option and incremental borrowing rates assessment for financial reporting purposes.
 
Congratulations again to Chagee Holdings Limited (CHA.NASDAQ) on its successful listing. The issue price is USD28 per share, and the amount of funds raised is USD411 million.
 
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Congratulations to Chagee Holdings Limited (CHA.NASDAQ) on its successful Listing on NASDAQ on 17 April 2025

Duality Biotherapeutics is a clinical-stage biotech company dedicated to the discovery and development of next-generation ADC to treat cancer and autoimmune diseases. The company has successfully built several cutting-edge ADC technology platforms with global intellectual property rights. Leveraging a robust pipeline, the company is conducting multiple global clinical trials across 17 countries, has enrolled over 2000 patients for multiple clinical-stage ADC candidates.
 
With regard to this listing application, AVISTA Group is honoured to be engaged in providing valuation services related to preferred stock, employee stock option and intangible asset impairment testing for financial reporting purposes. 
Congratulations again to Duality Biotherapeutics, Inc.(9606.HK) on its successful listing. The issue price is HKD 94.6 per share, and the amount of funds raised is HKD 1.51 billion.
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Congratulations to Duality Biotherapeutics, Inc.(9606.HK) on its Successful Listing

AVISTA Group was honored to be invited by Hong Kong Securities and Investment Institute (HKSI) to serve as the project sponsor of Institute Case Competition 2025. Our Managing Partner, Mr. Vincent Pang, and Director of Risk Management Advisory Services, Ms. Sabrina Lam, took on the role of coaches, guiding and mentoring the talented participants throughout the competition.
This year's competition focused on a sustainability research project, with the theme centered around "Identifying best practices in financial institutions' climate disclosures aligned with TCFD and/or IFRS S2, along with an analysis of their current progress in Scope 3 emissions reporting." Mr. Pang and Ms. Lam have chosen one group of the best performers among five to advance to the semi-final round. All groups demonstrated strong analytical skills and delivered outstanding performances in the initial round.
We extend our heartfelt thanks to all the participating groups for their hard work and dedication. Congratulations to all the semi-finalists and finalists for their remarkable achievements in the competition. As a leading professional advisory firm, AVISTA is privileged to contribute our expertise and support the development of future business leaders through initiatives like the HKSI Institute Case Competition.
 
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As a project sponsor of the Hong Kong Securities and Investment Institute (HKSI) Institute Case Competition 2025

Congratulations to ZG Group (6676.HK) on its completion of the De-SPAC transaction with Aquila Acquisition (7836.HK) and listed on the Mainboard of HKSE on 10 March 2025
 
ZG Group was established in 2012 and is a leading industrial digitalization platform in China. By connecting key participants in the steel trading industry, its platform currently provides a one-stop B2B comprehensive service covering the entire value chain of steel trading, including online steel transactions, logistics, warehousing and processing, SaaS products, and big data analytics.
 
With regard to this De-SPAC application, AVISTA Group is honored to be engaged in providing the valuation service in relation to the fair value assessment of promoter warrants and promoter earn-out rights. The negotiated value of ZG Group under the De-SPAC transaction is HKD 10.004 billion, and the amount of funds raised by PIPE investors is approximately HKD 540 million. 
 
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 Congratulations to ZG Group (6676.HK) on its completion of the De-SPAC transaction with Aquila Acquisition (7836.HK) and listed on the Mainboard of HKSE on 10 March 2025

Our Managing Partner, Mr. Vincent Pang, was pleased to be invited as the opening guest for ESG Achievement Awards 2023/2024 Campus Sharing this year. He also had the honor of serving as a moderator of the panel discussion at the campus sharing held on 17 February 2025.
 Co-organized by HKU Business School and organized by Institute of ESG &amp; Benchmark (iESGB), the campus sharing commenced with an opening address by Mr. Pang, expressing his joy regarding the submissions that highlighted the tangible impact and leadership in sustainability. He also conveyed appreciation for how the ESG Achievement Awards contribute to the progress of sustainability and innovation in Hong Kong and beyond.
 Under the theme " Insights into Sustainable Practices and ESG Career Pathways", four awardee such as Henderson Land Development Company Limited, China Overseas Grand Oceans Group LTD., Sun Life Asset Management (HK) Limited and Sino Land Company Limited shated their company’s ESG leadership through holistic reporting, effective operations, and innovative approaches to sustainable development. The leaders also shared how students should competent and aware as they prepare for a career in the ESG field. 
 In today's business landscape, ESG factors are essential for promoting sustainable practices and increasing long-term value creation. AVISTA Group is honored to observe the rapid development of ESG on a global scale and actively engage in it, aiming to witness further advancements in the future.
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