DeHeng Provided Legal Service for Deepening Cooperation

between the People's Government of Yunnan Province and Baowu Group

2021-02-07

On February 1, 2021, in the presence of Party Secretary Ruan Chengfa and Governor Wang Yubo of Yunnan Province, and Chen Derong, Chairman of China Baowu Steel Group Co., Ltd., Zong Guoying, a member of the Standing Committee of the CPC Yunnan Provincial Committee, Executive Vice Governor, and Hu Wangming, the general manager of Baowu Group signed an cooperation agreement on behalf of both parties to deepen cooperation with the aim of Yunnan Provincial Government holding a 10% stake in Kunming Iron & Steel Holdings Co., Ltd. (KISC) and Baowu Group holding a 90% stake in KISC. On the same day, the State-owned Assets Supervision and Administration Commission(SASAC) of Yunnan Province, Baowu Group and KISC signed an entrustment management agreement, according to the agreement, the Yunnan SASAC entrusted Baowu Group to manage the Kunming Iron & Steel Holdings Co.. DeHeng provided full legal services for this project.

Entrusted by KISC, the DeHeng team was supervised by lawyer Wu Zhixu, director of DeHeng Kunming Office, led by partners Li Zechun and Wang Lin, with primary support from lawyers Wang Xiaolei, Zhou Ping, Li Yanli, Jiang Ruiye, as well as Cui Guangxian and Xie Feng. They participated in the demonstration of cooperation paths, drafting and reviewing relevant agreements, negotiation with collaborators, evaluation of legal risks, drafting and reviewing relevant legal documents. In the future, as always， DeHeng will continue to provide comprehensive, reliable and high-quality legal services for the reform and development of state-owned enterprises.