Recently, the team led by Wang Ting and Tan Jun, who are the senior partners of ZhongYin Law Firm, has successfully assisted SDIC Inspection, Testing & Certification Co., Ltd. (the “SDIC Testing”) with acquisition of controlling interest in Yunnan Province Testing Center of Construction Quality Co., Ltd. (the “Yunnan Construction Testing Center”), in connection with which a signing ceremony was held by the parties on July 17, 2019. This deal is of great significance in the sense that the parties, in a market-oriented model, has jointly promoted “reform” through “mixed ownership”, explored a new model of cooperation between the central and the local in the area of construction testing, and accumulated new experience, and are committed to building Yunnan Construction Testing Center into a benchmark for industry reform.

SDIC Testing was founded in July 2018 and is a wholly-owned subsidiary of State Development & Investment Corp., Ltd., which was founded in 1995 and is a key state-owned enterprise directly administered by the central government and the only investment holding company among state-owned enterprises led by the central government. Yunnan Construction Testing Center was established in May 2006 by restructuring Yunnan Provincial Construction Quality Supervision and Management Station and was originally a wholly-owned subsidiary of Yunnan Design Institute Group. Yunnan Construction Testing Center is the most authoritative and largest construction testing agency with most comprehensive testing items in Yunnan Province. It is qualified for all the 12 major testing items set by construction authorities; it has mainly undertaken the construction testing work of Dianchi International Convention and Exhibition Center, Yunnan Science and Technology Museum, Kunming Changshui International Airport, Yunnan Haigeng Auditorium, buildings of Yunnan Provincial Party Committee and many large real estate developments within the province, and has successively been awarded honorary titles such as “Advanced Unit among National Construction Quality Supervision Agencies and in National Testing Industry”, “National Construction Quality Testing Agency with Credit Rating of AAA”, “Top 5 Construction Testing Agencies in Yunnan” and “Contract-honoring and Credit-valuing Enterprise in Kunming”.

As legal counsel exclusively on this project, the team of Wang Ting and Tan Jun has advised SDIC Testing in a professional way. The team has rich experience in the mixed ownership reform of state-owned enterprises, including state-owned enterprises led by the central government. For SDIC Testing’s acquisition of controlling interest in Yunnan Construction Testing Center, it provided a series of services including legal due diligence, transaction structure design, business negotiation, and transaction document drafting and revising, and was highly praised and appreciated by SDIC Testing. The team of Wang Ting and Tan Jun, currently consisting of nearly 20 professional attorneys, has extensive experience and a large number of successful cases in practicing in domestic and overseas IPO and listing, refinancing for listed company, M&A and reorganization, private equity and investment fund, foreign investment, bond issuance, asset securitization, regular legal counseling and other areas, and has a profound understanding of PRC laws and regulations and regulatory practices, and thus can flexibly provide the high-quality and value-adding legal services based on the different characteristics of different clients.