On 7 January 2019, the application filed by Guangxi Investment Group Co., Ltd. (“Guangxi Investment Group”) for its exemption from tender offer of Guangxi Guidong Electric Power Co., Ltd. (“Guidong Power”) was passed and approved by China Securities Regulatory Commission.

As a state-owned capital investment platform, Guangxi Investment Group is engaged in the fields covering energy, aluminum, finance, cultural tourism, international business and medicine.

Guangxi Investment Group is required to perform acquisition duties due to its shares in Guidong Power over 30% of the issued shares after the administrative transfer of state-owned assets, constituting its indirect acquisition of Guidong Power.  Grandall lawyers have advised Guangxi Investment Group in its application for exemption from tender offer.

Grandall Shanghai Office has been retained as legal advisor for the project with Mr. LIU Wei, Ms. ZHOU Ruoting, Mr. SUN Ban and Mr. FU Haijian providing professional and high quality service for the case.