Chongqing

IFLR1000 Reviews

Financial and corporate
AllBright Law Offices

With integrated management headquartered in Shanghai, AllBright Law Offices is among the largest full-service Chinese law firms. It has branch offices in 29 cities that house over 3500 lawyers.

Focusses / specialisms    

AllBright has built itself a good reputation in transactional law. The firm is well versed in a range of matters including IPOs, debt for equity swaps, M&A, private equity, investment funds, banking, restructuring and insolvency, PPPs, and asset securitisation.

Key clients   

Main clients include The Bank of East Asia, Longfor Group, State Grid and Shanghai Lujiazui Group.

Research period review: 32nd edition (2021/2022)     

In September 2021, the M&A team completed XCMG Machinery’s mixed ownership reform project.The total investment is Rmb21.05 billion and the deal is among the first batch of mixed ownership reform cases in the reform of state-owned enterprises in Jiangsu province.

In 2020, the M&A team in Shanghai acted for Cinve Real Estate Group in its sale of Sanlin Impression City. As the brick-and-mortar commercial retail industry was most affected by COVID-19, the project was finally completed during the epidemic. It was a significant demonstration case for the real estate block trading market.

In Guangdong, the M&A team represented China Resources Pharmaceutical Group in its Rmb2.3 billion acquisition of Boya Biopharmaceutical Group. The acquisition of a listed company in the biopharmaceutical industry was among the largest A-share transactions in 2020.

Deal highlights

Golden Oak Medical Series A and A+ round financing

Weigao Orthopedic Materials Science and Technology SSE STAR Market IPO

Danone Group acquisition of an infant milk powder production plant in Qingdao

Weiyuan Gene Series B financing

Qingdao Doublestar acquisition of Kumho Tire

China Shipbuilding asset restructuring

CMIG acquisition of SRE Group

Nanjing Happy Water Cube Travel insolvency

Kintor Pharmaceutical HKSE IPO

Zhejiang International Group convertible bond issue

 

Client Feedback: 32nd edition (2021/2022)  
Banking and finance    

"AllBright Law Offices was one of the first law firms to have been approved by the CSRC and become qualified for engaging in securities business. AllBright Law Offices has been the main legal service provider in the Chinese securities area and one of the law firms that provides the most diverse types of securities service. Securities and capital markets are AllBright Law Offices’ core service areas. In recent years, the A share IPO service of AllBright Law Offices has been among the best of the law firms. With years of experience in providing professional legal services, AllBright Law Offices has established good cooperation with the security regulatory authorities, stock exchanges and various intermediaries of various countries and regions."

“Professional, dedicated, highly efficient and good at communication.”

Capital markets

“Trust one partner who works for AllBright Law Offices.”

“Experienced, rigorous and logical.”

Lawyer Feedback: 32nd edition (2021/2022) 

Zhang Sheng

 

"Mr Zhang Sheng, the senior partner in AllBright law offices, has extensive experience in undertaking projects in the field of financial leasing legal services and cross-border equity trading. Mr Zhang has supported me with a project that was the most complicated case involving the establishment of a financial leasing company in Macao Special Administrative Region so far. The main legal services Mr Zhang provided included: Issue legal opinions on the company type and establishment procedures of the Macao leasing company;  Demonstrate the feasibility transaction plan for the Macao leasing company to acquire the client's equity and the relevant legal issues involved; Demonstrate the procedures for the Macao leasing company to attract strategic investors and the relevant legal issues involved; Draft all the legal documents involved in this transaction such as the strategic cooperation agreement, the equity investment agreement, the equity transfer agreement and the articles of association of the Macao leasing company. Due to the differences in financial supervision system and legal system between Chinese mainland and Macao, this kind of legal service was very complex and challenging. The legal services provided by Mr Zhang were efficient, excellent, professional and very satisfactory.”

Dentons

Dentons China was formerly known as Dacheng Law Offices but is now structured as a Swiss Verein since international firms cannot practice PRC law. In China, the firm has 46 offices, including in Beijing, Shanghai, Chongqing and Shenzhen.

Focusses / specialisms    

The firm is strongest in private equity and investment funds and has a highly active restructuring practice. Its capital markets practice has had a mixture of Hong Kong IPO and bond work, including corporate and convertible issuances. 

Key clients   

Key clients include IQiyi, BYD Auto, Export-Import Bank of China, Industrial and Commercial Bank of China and Beijing Jingdong Century Trading.

Research period review: 32nd edition (2021/2022) 

In 2021, Dentons represented Mengshang Bank in its acquisition of the assets and equity of 32 financial institutions with investment from Inner Mongolia-based Baoshang Bank as it is undergoing restructuring and liquidation. King & Wood Mallesons represented Baoshang Bank in this case.

The firm also performed well in the debt capital markets and represented the joint lead manager in China Construction Bank’s $18 billion simultaneous issuances of ESG-themed green bonds.

In 2020 its Beijing team kept busy with transactions in the insurance, energy, technology and real estate sectors. One of the highlighted cases was the establishment, raising and investment of IDC special funds. This was the first special fund for RMB IDC projects in China. Despite the Covid-19 pandemic, the IDC Fund still completed the first-round closing of Rmb1.5 billion within 6 months, which set a new record for the first-round closing of a CDH mezzanine fund.

In Shanghai, the firm provided a legal opinion to Shanghai Lingang Guanwei Investment Development’s CCB International Science and Technology Innovation Fund and advised on Shanghai Lingang Guanwei Investment Development’s mixed ownership reform fund.

Deal highlights

IDC special fund formation

Zero2IPO Holdings HKSE IPO

Jiachen Holdings HKSE IPO

 

Client Feedback: 32nd edition (2021/2022)  

Banking and finance

"In the process of providing financing and equity investment legal services, they has a rigorous working attitude. Professionally, they not only have a precise understanding of the law, but also can grasp the needs of customers and provide personalized services that can meet those needs."

Capital markets: Equity

"Very professional and highly efficient. Very helpful and reliable."

Capital markets: Structured finance and securitization

"Respond effectively, good team players."

Financial restructuring

"Lawyers work rigorously with high service quality. Not only have a precise understanding of the law but also understand the needs of customers and provide customers with personalized services."

Restructuring

"Some teams are good at providing legal services in multiple fields, while others are more focused on one or several fields and are very proficient. This enables them to provide services to customers with different needs."

"They are very professional and efficient. Especially when dealing with complex projects, their service is excellent and outstanding."

Lawyer Feedback: 32nd edition (2021/2022) 

Ying Jian

"He is very professional in the fields of finance and M&A. He is good at exploring the original intention of legislation. He can provide customers with forward-looking legal opinions from the perspective of legislation and help customers avoid possible legal risks in the future. At the same time, he is also good at designing personalized and operable transaction structure for customers according to their actual needs, so as to provide support for customers to achieve business objectives according to law."

"He and his team work seriously - he has a high professional level and good team management. He can not only provide forward-looking opinions for customers from the perspective of legislation and escort customers' compliance operation, but can also work in an efficient team, grasp customers' needs and provide accurate opinions. He provides very good legal support for our work and helps us promote the project more smoothly."

"He is good at providing customers with forward-looking legal advice from the perspective of legislative intent, helping customers predict risks in advance and formulate avoidance measures. This is different from other lawyers who only focus on immediate compliance. This forward-looking opinion of is very important to clients."

"Jian Ying works seriously, is very professional in the field of finance and M & A and leads a very good team. Jian Ying can not only provide customers with forward-looking opinions from the perspective of legislation but also grasp customers' needs and provide accurate legal opinions, which provides very good legal support for our evaluation work and makes customers' projects progress more smoothly. In addition, Jian Ying has strong team management ability and gets the legal team to work efficiently."

Hanlin Wang

"Pays high attention to us, is highly responsible and reliable."

Lihong Wang

"Cooperative, covering both litigation and corporate area."

Tahota Law Firm

Headquartered in Sichuan, Tahota Law Firm is a full-service law firm that enjoys a leading position in western China’s legal market. The firm has branches in cities like Beijing, Shenzhen, Shanghai, Nanjing and Tianjin.

Focusses / specialisms    

Core practices areas of Tahota include securities, investment and mergers and acquisitions, private equity, bankruptcy liquidation, foreign-related investment and financing, and debt restructuring.

Key clients   

Key clients include Yunnan Hongta Bank, Sichuan Cable Broadcasting Network, Tiansheng Securities, Development Bank of Singapore, Zhongtai International Securities and ICBC International.

Research period review: 32nd edition (2021/2022)     

In 2021, the firm represented Nanjing Lishui Industrial Investment Holding Group in its issuance of Rmb500 million short-term financing bonds in 2021.

In 2020, the transactional team was busy with domestic M&A work. It advised on Chengdu Express’s acquisition of Chengdu Energy Development. This was an important landmark acquisition case for the diversified development of Chengdu's high-speed operations. The target company involved refuelling and refuelling station operations, with more points to adjust. The case has served as a reference for similar acquisition cases in Sichuan.

Deal highlights

Chengdu Express acquisition of Chengdu Energy Development

Longteng Real Estate Group acquisition of the stake in Jane Yang Aviation Investment

Santai Holdings non-public issuance of shares

DeHeng Law Offices

Headquartered in Beijing, DeHeng Law Offices is a full-service PRC law firm that has 50 offices in and outside China.

Focusses / specialisms    

The firm is regarded for its work in M&A, capital markets, and banking.

Key clients   

Key clients include China CITIC Bank International, Export-Import Bank of China, BOCOM International Universal Investment, HSBC, China Gold, and Qingdao Sifang Rolling Stock Research Institute.

Research period review: 32nd edition (2021/2022)     

In 2021, DeHeng excelled at both cross-border and domestic M&A.

In 2020, the firm kept busy advising on domestic and cross-border transactions. For example, the Beijing team assisted North China Pharmaceutical Company in its purchase of assets by cash and issued shares; provided advice on China Minsheng Investment Group’s restructuring; and also represented Mabplex International in its B round financing.

In Guangdong, it represented Smoore’s HKSE IPO. As a global and industry leader in providing atomisation technology solutions, the market value of Smoore reached HK$178 billion and became the first H-shares of e-cigarettes.

In Shanghai, the firm provided legal services to Shanghai Yuyuan Tourist Mart Group in its acquisition of Jinhui liquor and acted in the asset restructuring of Dalian Energas Gas-System Company.

Deal highlights

China National Gold Group Gold Jewellery SSE IPO

Asymchem Laboratories (Tianjin) HKSE IPO

Smoore HKSE IPO

Dalian Energas Gas-System Company asset restructuring

Shanghai Yuyuan Tourist Mart Group acquisition of Jinhui liquor

 

Client Feedback: 32nd edition (2021/2022)      

Investment funds

" Outstanding."

"Capital markets; private equity; Family wealth management; finance."

PPP/PFI

"Complete professional categories and a large number of lawyers, which can meet the needs of complex professional requirements."

"Good at complex project transaction structure design, financing structure arrangement."

"Provide advice very quickly and accurately."

"The law firm sent a team of excellent professionals and with a good service and attitude to meet our needs."

"The law firm specializes in complex comprehensive legal services, especially in franchise projects and PPP projects."

"The team dispatched by this law firm has a good service attitude and complete professional categories, which can meet the legal service needs of extra-large and complex projects."

"They provided extended case studies and legal advice, helped to build the project model and structure for the project to successfully proceed."

"This law firm has a large scale and complete range of business categories, which can provide us with a full range of legal services. The service team's deep knowledge meets the requirements of the project."

Private equity

"Our deal is novel and difficult because it involves domestic and offshore equity swap, which brings a typical case of cross-border equity financing. The firm did well in assisting us to complete the restructuring of the red chip structure, the preparation and negotiation of transaction documents, and obtaining foreign exchange registration, overseas investment and other procedures for the company.”

"Our deal is novel and difficult because it involves domestic and offshore equity swap, which brings a typical case of cross-border equity financing. The firm did well in assisting us to complete the restructuring of the red chip structure, the preparation and negotiation of transaction documents, and obtaining foreign exchange registration, overseas investment and other procedures for the company.”

"Since becoming the legal adviser of our company, lawyer Luo Zhiyu has provided all-round legal support for our company in various areas such as company structure, financing and overseas business. He has fully grasped various risks in the process of overseas financing and won benefits for our company. His professional spirit of ‘ultimate user experience’ is very much in line with the spirit of our industry, which is efficient, rigorous and professional.”

"We are a private enterprise seeking to go aboard through the offshore red chip structure to carry out overseas private equity financing before IPO and share listing in US stock market. Our specific case is rare in the market, which bring challenges to us. With highly effective work, the firm's attorney helped us in one-stop legal services, including organizing our global equity structure, adjusting the shareholders' equity interests in the offshore company and completing the private equity financing documents."

"The deal is complex because, since the first round of financing, it involved famous venture capital investors and other worldwide known investment institutions. The firm also completed a deal for us for investment in both onshore and the offshore structure and acquisition of existing shares. The deal is complex in respect of offshore corporate structure and numerous shareholders' interests, which bring difficulty to negotiation.”

Project development

"The law firm has rich experience in infrastructure construction and project development and has a team of lawyers with a complete range of professional categories. It can respond quickly and creatively to solve difficult legal problems."

“They often communicate with our company, ask for suggestions for improvement of their work, and often take advantage of legal training opportunities to receive questions from our employees, so as to discover problems.”

Lawyer Feedback: 32nd edition (2021/2022) 

Weifeng Guo

"He is well versed in the capital market and various transaction methods of private equity, and he has a thorough understanding of the regulatory rules about finance, taxation and business. The firm provided us with comprehensive, complex and highly professional service in the whole process of assisting in transaction negotiation and drafting transaction documents. During the service process, he vigorously promoted the transaction process, made many constructive suggestions and solved our problems creatively."

Huazhen Huang

"Extensive knowledge of the industry, knows how to build the project legal structure that meets the requirements of the client, helped to communicate with the local government to ensure the implementation of the project."

"Capital markets and private equity."

Hongyuan Li

"He has a very serious working attitude and quick feedback. He is particularly good at dealing with large-scale complicated affairs such as PPP projects."

"Good at PPP project, franchise project, EOD project transaction structure design, comprehensive legal service arrangement."

"He has a good service attitude. He is particularly good at franchise projects, PPP projects, construction management projects, bidding and construction dispute resolution affairs."

"He has rich professional knowledge in construction engineering and bidding, and is familiar with the procedures of large-scale construction projects as well as the company's equity investment. He can meet the service needs of large-scale investment and construction integrated projects."

"He is good at construction projects, bidding and tendering projects, and is also familiar with PPP projects and comprehensive land development business. He has extensive legal knowledge and a good service attitude."

"He is good at construction projects, as well as bidding and tendering business, land consolidation, comprehensive development, PPP projects, etc. He has a wealth of professional knowledge and a good service attitude."

"He has profound legal knowledge, serious service attitude and quick feedback. He is good at the transaction structure design of PPP projects and EOD projects, as well as legal risk management in project implementation. Meanwhile, he is also good at bidding and contract management of construction projects and deals with disputes in project construction."

"He is good at large-scale regional comprehensive development projects and PPP projects, as well as legal services in complex project transaction structure design and contract management, and is also familiar with bidding and tendering."

"He is good at the development and construction of a super-large project, familiar with the management of construction project contracts, and also good at dealing with the dispute affairs of inspection and verification in a project contract."

"In recent years, he has been cooperating with us in providing PPP project consulting services and providing legal services for the PPP projects we serve."

Zhiyu Luo

"He did well in assisting us to complete the restructuring of the red chip structure, the preparation and negotiation of transaction documents, and obtaining foreign exchange registration, overseas investment and other procedures for the company. He also served as lead counsel to help us negotiate the transaction documents with the investor and provided effective solutions for us."

"We are a listed company in US securities exchange. As the leading lawyer, he completed our cross-border investment and private equity financing through VIE arrangements and also the acquisition of domestic assets in order for us change the board to list in Nasdaq.”

"He represented us to complete several rounds of private equity financing. The investors are involved with famous venture capital and other worldwide known investment institutions. He also completed an investment deal in both onshore and the offshore structure and acquisition of existing shares. The deal is complex in respect of offshore corporate structure and numerous shareholders' interests, which bring difficulty to negotiation. As the leading counsel of our company, he brought our deal to successful completion.”

“He has provided all-round legal support for our company in various sector such as company structure, financing and overseas business. He has fully grasped various risks in the process of overseas financing and won benefits for our company.”

Xiaoling Yang

"Professional manner, professional experience in relevant field."

Grandall Law Firm

Grandall is a full-service law firm headquartered in Shanghai. It has offices in 28 Chinese cities including Beijing, Shenzhen, Hangzhou, Guangzhou, Tianjin, Chengdu and Ningbo, and has a further five offices globally. 

Traditionally Grandall is known for its capital markets practice where it has been dominant in the A-share market and has more recently made a push to strengthen its overseas listing practice.

In Beijing, Grandall was the legal counsel for Tencent Music’s NYSE IPO. This was one of the largest IPOs of Chinese companies in the United States in recent years.

In Shanghai, the firm acted in Glory Star New Media Group’s Nasdaq IPO, which was the first Chinese concept stock listed on Nasdaq in China's entertainment industry in 2020.

In Shandong, the firm represented Shandong Luqiao Group in its share issuance, which was the first market-based debt-to-equity swap project in Shandong Province. The project was helpful in improving Shandong Road and Bridge’s governance and capital structure.

In Sichuan, the firm provided legal services to Jiaozi Financial Holding Group’s epidemic prevention and control bond issuance, which was the first "epidemic prevention and control bond" issued by a state-owned enterprise in Chengdu.

In Jiangsu, the firm represented State Grid Jiangsu Integrated Energy Service’s mixed ownership reform project. The establishment of the mixed ownership reform company was not only to deepen the reform of state-owned enterprises, but also to promote the mixed reform in key areas and key links. The case was also an exploration path for mutual benefit and win-win, multi-party profitability, and strong alliances in the comprehensive energy service business.

In Tianjin, the highlighted case is Tianjin Zhonghuan Group’s mixed ownership reform project, which was a characteristic and pioneering project in the promotion of mixed reform of state-owned enterprises in Tianjin.

Key clients include China Merchants Bank, China Minsheng Bank, China Huarong, Air China Cargo, Beijing Yansha Group, and Zhongsheng Beikong Biotechnology Company.

Deal highlights

·       Daojiale Rmb500 million pre-A round financing

·       Glory Star New Media Group Nasdaq IPO

·       Shandong Luqiao Group share issue

·       State Grid Jiangsu Integrated Energy Service mixed ownership reform project

·       Tencent Music NYSE IPO

·       Jiaozi Financial Holding Group Epidemic Prevention and Control bond issue

Client feedback

"Its capital markets practice is professional and has a clear understanding of the requirements and trends in the A-share market."  - Capital markets

Wu Gang

"He has professional abilities and carried a strong sense of responsibility for the project."

SGLA (Chongqing) Law Firm

Based in Chongqing, Solton is a local law firm that has extensive experience in transactional law.  It has a good reputation in banking and finance, capital markets, M&A and investment funds.

Key clients of the firm include China Three Gorges Group, Southwest Securities and Chongqing Machine Tool.

Based on the submissions, the firm has strong capabilities in securities, but it is yet to be involved in IPO matters due to geographical constraints.

Deal highlights

·       Chongqing Jianshe Motorcycle restructuring

·       Southwest Securities Rmb15 billion bond issue

·       Three Gorges Corporation acquisition of United Energy

Zhong Lun Law Firm

Zhong Lun Law Firm continues to enjoy the coveted position as one of the strongest and most in-demand transactional law firms in China. Zhong Lun’s strongest forte is in banking and finance, capital markets, M&A, investment funds, restructuring and insolvency, and private equity.

Headquartered in Beijing, Zhong Lun has 17 additional offices in Shanghai, Shenzhen, Guangzhou, Wuhan, Chengdu, Chongqing, Qingdao, Hangzhou, Nanjing, Haikou, Tokyo, Hong Kong, London, New York, Los Angeles, San Francisco and Almaty.

During the research period, the Beijing team was active in banking and finance and M&A matters. Some key highlights include Sahiwal 2X660MW coal-fired power plant $1.44 billion syndicated loan restructuring, Colorful Guizhou Airlines lease of four A320neo aircraft from GECAS, Haier Electronics Group $7.7 billion take-private, and Beijing Konruns Pharmacuetical Rmb900 million acquisition of NT Pharma. These cases involved huge funds and multiple interests, requiring lawyers to provide professional and creative advice in a short period of time.

Shanghai is another core region of the firm. Last year the team acted in INVISTA Nylon Chemicals’ Rmb7.3 billion financing of the adiponitrile plant in Shanghai Chemical Industry Park, which was one of the biggest infrastructure investments in Shanghai in recent years. The team also acted for Lufax’s NYSE IPO, and the transaction was the largest ever fintech IPO and the biggest Chinese IPO since 2015 in the US.

In Guangdong the firm kept playing an important role in the capital markets. It advised on Smoore’s HKSE IPO, enabling the company to become the first e-cigarettes H-shares in China. Also, the team assisted local companies issue debt and ABS to alleviate their economic crisis during COVID-19.

Deal highlights

·       Colorful Guizhou Airlines lease of four A320neo aircraft from GECAS

·       Geely's fundraising to support Polestar's restructuring

·       Sahiwal 2X660MW coal-fired power plant $1.44 billion syndicated loan restructuring

·       LyondellBasell/Liaoning Bora Enterprise Group $2.6 billion joint venture

·       Haier Electronics Group $7.7 billion take-private

·       Beijing Konruns Pharmacuetical Rmb900 million acquisition of NT Pharma

·       INVISTA Nylon Chemicals Rmb7.3 billion financing of adiponitrile plant in Shanghai Chemical Industry Park

·       Gubei SOHO Project of SOHO China syndicated loan facility

·       Brilliance Automotive Group Holding restructuring

·       Smoore HKSE IPO

·       Qingdao Gaoce Technology SSE STAR Market IPO

·       Chengdu Kanghua Biological Products SZSE IPO

·       360 Security Technology acquisition of 30% stake in Kincheng Bank of Tianjin

Client feedback

“They did a great job in providing services and ideas to facilitate the transaction” — Banking and Finance

“The firm offers efficient and constructive advice on risk control.” — Financial services regulatory

“It assisted in the whole process of the acquisition, from due diligence and SPA negotiation to deal completion. The work Zhong Lun’s team did was beyond our expectations with its consistent high-quality work and patience shown during the long transaction period.” — M&A

“While we designed the transaction structure, Zhong Lun's lawyer helped us. In this deal we had some legal points to break through, and it recommended that we break the deal into two steps so that it finally came through.”— M&A

“Professional, diligent and resourceful.” — Capital markets

“Providing practical advice and leading the project efficiently.” — Private equity

Gong Lefan

“It’s not just that he has good experience, but he also has professional skills.”

Shi Yi

“She is responsive and responsible when we have a problem to solve.”

Liu Xinyu

“Liu is constructive and offers efficient advice on the recent financial supervisory regulations.”