On October 30, 2019, Suo Weihua and Tong Xuejun, partners of ZhongYin Law Firm, were selected and engaged as independent supervisors by Yingda Insurance Asset Management Co., Ltd. (for short: Yingda Asset). According to the provisions of the Measures for the Administration of Indirect Investment of Insurance Funds in Infrastructure Projects, an independent supervisor shall meet the following conditions: (1) having good credit and positive market image; (2) having and effectively implementing sound internal management and project monitoring and operation systems; (3) having expertise and skills to fulfill the duties of independent supervision; (4) having engaged in relevant business for more than 3 years and having relevant experience; (5) having not been punished by competent authorities or regulatory authorities in the past 3 years; and (6) other conditions stipulated by CIRC. This engagement reflects not only the recognition by Yingda Asset of ZhongYin but also the full affirmation by Yingda Asset of the working ability and practical experience of Suo Weihua and Tong Xuejun.

Yingda Asset was jointly promoted and established by Yingda Life Insurance, Yingda Property Insurance, and Yingda Group, which are all actually controlled by STATE GRID Corporation of China and have outstanding comprehensive strength and rich business resources. Yingda Asset adheres to the business philosophy of being market-oriented, specialized and standardized and the strategic positioning as professional manager of insurance funds and corporate annuities, and provides clients with professional, efficient and comprehensive asset management services. At present, it has obtained relatively complete qualifications for investment and issuance businesses, has managed as trustee insurance funds of more than RMB50 billion, and has issued a number of insurance asset management products and investment plan projects.

Suo Weihua’s team practices in many areas such as corporate affair, financing, securities, insurance, litigation, and arbitration, has provided professional legal advice to many companies in infrastructure, communications, chemical, insurance, trade, automobile and other industries, has served as regular legal counsel to various financial institutions on private equity fund, trust, bank financing, and other financial products, and has undertaken or participated in the shareholding system transformation, stock issuance and listing, bond issuance, merger and acquisition, asset restructuring, and other securities projects of many enterprises, and thus has rich practical experience, is familiar with all relevant legal processes, is good at transaction structuring and negotiation, has a complete legal service system, and is committed to providing clients with a full range of legal services.