Recently, the senior partner Li Xianghong and his team members, the associates Shi Lei and Xie Lu and the paralegal Ma Wangyue in ZhongYin (Shenzhen) have advised COSCO SHIPPING International (stock code 00517) on investment in Changshu Naisu Biomaterial Technology Co., Ltd. (short name Changshu Naisu).

COSCO SHIPPING International will contribute RMB 88.83 million to Changshu Naisu and subscribe for 33% of the equity in Changshu Naisu after the completion of the capital increase. The team of Li Xianghong of ZhongYin (Shenzhen), as legal counsel of COSCO SHIPPING International exclusively responsible for this capital increase, participated in the legal due diligence, transaction structure design, commercial negotiation, drafting, revision and delivery of transaction documents, and other work from beginning to the end, provided COSCO SHIPPING International with high-quality, professional and efficient legal services, and has been highly recognized and appreciated by COSCO SHIPPING International.

Changshu Naisu mainly engages in research & development, production and sales of biochemical products. It is committed to developing many lines of product with cashew nut shell oil as raw materials, and producing plant surfactant with cashew nut shell oil as raw materials, as well as epoxy resin additives and resin modifiers etc. used in coating production. One of the main businesses of COSCO SHIPPING International, the Hongkong-listed SPV of China COSCO SHIPPING GROUP, is marine coatings and heavy-duty anti-corrosion coatings. After the completion of this capital increase, its coating business will extend to the upstream of the industry, which will be perfecting the industry chain of its existing segments, and enhancing and upgrading its shipping service industry cluster, accelerating its integration of various resources, and improving its service level in shipping-related industries.