LONGAN LAW FIRM
The signing ceremony for the Agreement on mixed ownership reform capital increase of Shanghai Research Institute of Building Science (Group) Co., Ltd. (Shanghai Institute of Building Science) was held in Shanghai United Assets and Equity Exchange (SUAEE) on June 16. It was the first transaction involving non-public group companies under “mixed ownership reform” ever completed in Shanghai.
Shanghai Institute of Building Science is a state-owned technology enterprise and the largest local comprehensive research institution in Shanghai Building industry. The central government heralds a new round of reform of state-owned assets and enterprises. After 2017, Shanghai Institute of Building Science through SUAEE introducing strategic investors, companies successfully introduced such as strategic investors include Baoye Group Co., Ltd. (02355.HK) and Shanghai Chengtou Holding Co., Ltd. (600649) as well as Beijing Xinrunheng Equity Investment Partnership(L.P.).
Baoye Group Co., Ltd. (02355.HK) was founded in 1974 and became the first comprehensive private construction enterprise listed on the main board of the HKSE on June 30, 2003. It has a leading position in the field of prefabricated building in China.
Baoye Group Co., Ltd. was represented by Shanghai Offices. The legal team include Lawyer Ren, Limin, Wu, Zhitao and Shi, Juhua as well as assistant Xu, Jiulin.
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