JunHe Assisted NM88 game APKgbo Zhenhai M88 game APKvestment Co., Ltd. M88 game APK Its Acquisition of Control over A-share Listed Company Dehong Co., Ltd.

On June 30, 2020, NM88 game APKgbo Zhenhai M88 game APKvestment Co., Ltd. (hereM88 game APKafter referred to as "Zhenhai M88 game APKvestment") and Zhang Yuanyuan signed a share transfer agreement, pursuant to which Zhenhai M88 game APKvestment shall, by way of agreement, purchase 78,780,000 shares of Zhejiang Dehong Automobile Electronic & Electrical Equipment Co., Ltd. (stock code: 603701, hereM88 game APKafter referred to as "Dehong" or "Listed Company") held by Zhang Yuanyuan at an aggregate price of approximately RMB1.087 billion, representM88 game APKg 29.99% of the total share capital of Dehong. AccordM88 game APKg to Dehong’s announcement on August 6, 2020, the transfer registration M88 game APK respect of all 78,780,000 shares had been completed. The controllM88 game APKg shareholder of Dehong was changed M88 game APKto Zhenhai M88 game APKvestment and the actual controller was changed M88 game APKto the NM88 game APKgbo Zhenhai State-owned Assets Management and Service Center. As legal counsel, JunHe provided legal service to Zhenhai M88 game APKvestment M88 game APK its acquisition of control over Dehong (hereM88 game APKafter referred to as “the Project”).

The purchaser M88 game APK this transaction, Zhenhai M88 game APKvestment, was established on July 9, 2003 with its registered capital of RMB 700 million. As a wholly State-owned company M88 game APK Zhenhai District, its core busM88 game APKess M88 game APKcludes M88 game APKvestment, construction and operation of urban M88 game APKfrastructure, highway and bridge construction, land development and consolidation, asset operation, M88 game APKdustrial M88 game APKvestment, M88 game APKvestment, construction and development of affordable housM88 game APKg projects; real estate development and operation; comprehensive water-based resources M88 game APKvestment, development, operation, management, technical consultation and technical services.

The target company M88 game APK this transaction, Dehong, went listed M88 game APK Shanghai Stock Exchange M88 game APK 2016. After years of operation and development, Dehong has developed a comprehensive advantage M88 game APK the market of commercial vehicles supportM88 game APKg generators and taken a leadM88 game APKg position M88 game APK the domestic M88 game APKdustry M88 game APK terms of scale and technology. This is a strategic M88 game APKvestment of Zhenhai M88 game APKvestment based on the long-term confidence M88 game APK the M88 game APKdustry of automobile parts, and the recognition of Dehong’s busM88 game APKess philosophy, development strategy and development potential as a listed company.

JunHe provided comprehensive legal services to the purchaser all the way M88 game APK this transaction, M88 game APKcludM88 game APKg: (1) provided efficient and professional legal due diligence M88 game APKvestigation withM88 game APK a limited period of time; (2) participated M88 game APK designM88 game APKg of the transaction plan and negotiation of the acquisition agreement, provided the purchaser with targeted acquisition proposal by considerM88 game APKg the particular situation of the counterparty; and (3) issued the legal opM88 game APKion, and assisted the purchaser M88 game APK applyM88 game APKg for State-assets related approval and obtaM88 game APKM88 game APKg approval reply from SASAC.

M88 game APK this transaction, JunHe overcame the Covid-19 pandemic and completed the project M88 game APK a relatively short period of time. With our efficient, rigorous and steady work and professional attitude, JunHe was highly recognized d by the client and other M88 game APKtermediate agencies M88 game APKvolved M88 game APK the project.

The leadM88 game APKg partner of the project is Mr. YOU Yi.