On August 1, 2019, Beijing Hualian Group Investment Holdings Co., Ltd. (the “BHG”) successfully issued “The Third Tranche of PPN in 2019 of Beijing Hualian Group Investment Holdings Co., Ltd.”, to raise 600 million Yuan, with the credit rating of the issuer being AA+. Attorney Wang Shaoxing of ZhongYin Law Firm represented this client on this project.

BHG is one of the 15 large-scale retail enterprises mainly supported by the Ministry of Commerce. It has two listed companies (BHDS and BHHC) and several holding companies. Its businesses are primarily focused on hypermarkets, boutique supermarkets, department stores, and commercial properties. According to 2018 Annual Audit Report of BHG, as of December 21, 2018, the company's total consolidated assets were 41.453 billion Yuan, net assets were 12.628 billion Yuan, and net profits were 316 million Yuan.

Since the beginning of 2018, ZhongYin has represented BHG on the issuance of bonds and PPN and has been well received by clients for its high-quality services.