On 10 February 2026, Ridge Outdoor International Limited (02720.HK, “Ridge Outdoor”) was listed on the mainboard of the Hong Kong Stock Exchange. Grandall Hangzhou acted as the PRC legal counsel to the issuer for this IPO project with SHEN Tianfeng and LI Yan leading a professional team including ZHANG Xueting, LIU Liu, HU Jie, and TANG Jiaying of Grandall Hangzhou, LIU Wei and CHENG Jingjiao of Grandall Shanghai and WANG Qiantong of Grandall Hong Kong supporting the company in establishing a red-chip structure and other IPO-realted maters.