In June 2022, a syndicate led by KASIKORNBANK (China) Company Limited, together with Sumitomo Mitsui Banking Corporation (China) Limited, Industrial Bank of Korea (China) Limited, Fubon Hua Yi Bank Limited, and CITIC Bank International (China) Limited, successfully signed a syndicated loan agreement with Haier Consumer Finance Limited for a total amount of RMB 510 million and released the first installment. Grandall Shenzhen Office acted as the legal counsel for this project.

The syndicated loan amounted to RMB 510 million with a one-year maturity for the daily working capital needs of Haier Consumer Finance Limited. The company was established by five large enterprise groups, including Haier Group, Haier Finance, Red Star Macalline, Greentown Electric and China Youzan, and now ranks the first national consumer finance company approved by CBRC to open after the expansion of the pilot scope of consumer finance companies in China.

Grandall Shenzhen Office has provided legal service for the project with XUE Yizhong and LIN Rong as key lawyers serving the case.