C&F was one of the first law firms to serve as legal counsel in the A-share securities market in China. As early as 1994, the Firm represented issuer North China Pharmaceutical Co., Ltd. (stock code: 600812) in its IPO on the Shanghai Stock Exchange. With the gradual development of China's capital market, the Firm’s clients in the domestic capital market have expanded from large and medium-sized state-owned enterprises to non-state-owned enterprises. With close to a quarter century work experience in the field, the Firm is well equipped with knowledge and expertise in dealing with complex transactions in both debt and equity markets.
Legal services provided by C&F in domestic capital markets include:
Pre-IPO restructuring and reorganization (including legal due diligence, design of corporate structure and pre-IPO financing and documentation)
Initial and subsequent public offering and listing on the stock exchanges
Refinancing of listed companies
Listing on the National Equities Exchange and Quotations
Merger and acquisition and reorganization
C&F's major project experience in domestic capital markets:
Either as the issuer’s counsel or underwriter’s counsel, C&F’s participated in A-share or A+H share listing as well as private placement and share allotment projects of the following companies: China United Communications Co., Ltd., COSCO Holding Co., Ltd., COSCO Shipping Corporation Limited, China State Construction Engineering Corporation, China Science Publishing & Media Ltd., China Petroleum & Chemical Corporation, CRRC Corporation Limited, China Construction Bank Corporation, Ping An Insurance (Group) Company Of China, Ltd., New China Life Insurance Company Ltd., China Eastern Airlines, Guilin Sanjin Pharmaceutical Company Limited, Huizhou Foryou Corporation Co., Ltd., Chengdu Kanghong Pharmaceutical Group Co., Ltd., Eastern Pioneer Driving School Co., Ltd., Opple Lighting Co., Ltd. and other private enterprises.
In addition, C&F assisted many companies in their listed trading at the National Equities Exchange and Quotations, including BioVison Software Co., Ltd., Xinjiang Kanas Tourism Development Co. Ltd., Beijing Qingzhi Rongke Business Machines Co., Ltd., Heilongjiang Weisheng Energy Conservation Co., Ltd., Beijing Tomorrow Power Technology Co., Ltd., Guangxi Xijiang Logistics Co., Ltd., Jiangsu Beaume Outdoor Goods Co., Ltd. and many others.
Among other projects, C&F have successfully assisted many companies in their issuance of bonds, including State Grid Corporation of China's USD 7.7 billion medium term notes programme; Bank of Jinzhou Co., Ltd.'s USD 1.496 billion preferred stock issuance; China Life Insurance Co., Ltd.'s RMB 30 billion subordinated debt issuance; Ping An Insurance (Group) Co. Ltd.'s RMB 26 billion A-share convertible bonds issuance; China Minsheng Bank Co., Ltd.'s USD1.439 billion preferred stock issuance and RMB 20 billion convertible bonds issuance; China National Offshore Oil Corporation's RMB 10 billion medium-term note issuance; China Unicom's RMB 10 billion and RMB 9 billion short-term financing bonds issuances; Inner Mongolia Yitai Coal Co., Ltd.'s RMB 9 billion corporate bonds issuance; China Pacific Life Insurance Co. Ltd.'s RMB 8 billion subordinated fixed-term debt; Ping An Life Insurance Co. Ltd.'s RMB 8 billion subordinated debt issuance; and Chongqing Longfor Enterprise Development Co., Ltd.'s RMB 8 billion corporate bonds issuance.
C&F has participated in a number of assets securitization projects, including China Tower Co., Ltd.'s RMB 5 billion trust asset-backed bill (Phase I); Zhongyuan Penghua -Zhengshang Property Management's Assets-backed Special Plan (Listed on the Shanghai Stock Exchange); China Merchants Securities Asset Management Co., Ltd.'s property management fee-backed special loan plan on behalf of China South City (the first phase) (listed on the Shenzhen Stock Exchange); Kaiyuan Securities-Yida Property Trust's beneficiary interest-backed special plan; Logan Property Holding Co., Ltd.'s 2017 property management fee-backed instrument (Phase I); JIC Investment- Anhe 2016 Asset-backed special plan (Phase I); Shanghai Pudong Affordable Housing Project Asset management plan; and Xiamen International Bank's credit asset securitization project..