JunHe represented Topsports International Holdings (Topsports) in its approximately $1.01 billion IPO and listing in Hong Kong with Cleary Gottlieb Steen & Hamilton. The underwriters were advised by Freshfields Bruckhaus Deringer. This is the second-largest IPO in Hong Kong this year.

Topsports is a sportswear retailer in China, with over 8,000 directly operated stores located in 268 cities across 30 provinces as of September 2019. According to Frost & Sullivan, Topsports is China’s largest sportswear retailer with a 15.9% market share in 2018.