On October 30, 2014, Listed Company M&A and Restructuring Review Committee of CSRC gave unconditional approval to Sinodata Co., Ltd. (“Sinodata”) on the latter’s restructuring plan. On November 21, 2014, CSRC also approved Sinodata’s application to issue shares to Liu Kaitong and others in order to raise fund for asset purchase and relevant matters.

Beijing-based Sinodata was listed on the SME Board of the Shenzhen Stock Exchange in March, 2012. It is primarily engaged in the development of applications, provision of technical services and IT system integration and focuses on three market segments, i.e., data center, bank image technology and IT service and management. It is a leading integrated solution provider on intelligent banking, a high-end and comprehensive IT service provider and a pioneer in the e-finance sector.

Beijing-based senior partner Zhang Hong and partner Chen Hui advised Sinodata on the restructuring, with guidance from Chairman Peng Xuefeng. The attorneys designed the restructuring plan, offered legal counsel on matters related to the restructuring, conducted due diligence, issued attorney’s opinion letter and drafted and revised all documents for the transaction and the CSRC approval. The attorneys cooperated fully with other intermediaries to solve all kinds of problems in an efficient manner and secured the unconditional CSRC approval. Their expertise was highly acknowledged by the client.