"Water Seller" In Private Financing Industry

"Although we haven't been established for a long time, the partner core team has nearly 20 years of experience in the industry, which can be said to be" old wine in new bottles. " Recently, Liang Hongjun, partner of Shanghai Branch of Shanghai Branch of Shanghai Branch, made a vivid analogy in an interview with 21st century economic reporter.

Founded in Beijing in 2016, SHW is a new and cutting-edge law firm brand with private equity investment, finance and capital markets as its main business. The partner team was the business elite from the top law firms in the industry for many years before joining the firm.

Although it has been established for only four years, Shihui has been well-known in the industry. He has successively participated in the secondary listing of Jingdong group in Hong Kong stock market and a series of influential domestic and foreign listing projects such as panshengzi gene, burning stone medicine, Liepin, Meiyou, Lexin group, etc., and deeply participated in the divestiture, reorganization and financing of Jingdong Logistics, Jingdong digital technology, Jingdong health, etc.

Diversified business chain

It is understood that Shihui was the first to start with legal services in the field of private equity investment and financing, and has long served the first-line enterprises and private equity investment institutions in the industry such as Huaxing capital, Xianfeng, Zhongjin capital, Gaorong capital, Xiangfeng investment, etc.

With private equity investment and financing legal services as the starting point, Shihui also continuously extends its service scope in the upstream and downstream of the industrial chain. At present, Shihui has initially formed a complete service chain with diversified business sectors such as private equity, domestic and foreign capital markets, mergers and acquisitions, investment funds / asset management, life and health, foreign direct investment, overseas investment, corporate compliance, private wealth management, antitrust and dispute resolution. The rudiment of a top comprehensive law firm has gradually become clear.

In the private equity investment and financing market, from o2o, sharing economy to hard technology fields such as artificial intelligence, medical and health, intelligent logistics, enterprise services, integrated circuits and semiconductors, the industry hot spots are constantly changing in recent years, which also puts forward higher requirements for law firms.

Liang Hongjun said that in addition to deep legal knowledge, lawyers also need to have extensive knowledge, accumulate knowledge in the fields of financial accounting and taxation, and understand the characteristics of the industry in which the project is located and the laws and regulations and regulatory practices in the industry.

"Some industries may not have specific laws and regulations, and they also need to understand their current policies and regulations and future trends. Only when we understand the spirit of industry supervision and fully identify and control risks, can we promote the conclusion of commercial transactions, so as to better reflect the legal service value of commercial lawyers. " Liang Hongjun said.

Previous investment and financing projects are mainly concentrated in the consumer industry or TMT field, closer to people's lives. Today's investment and financing projects tend to favor high-end hard technology projects, such as new drug research and development, integrated circuit, high-end equipment production, etc. As a lawyer, you need to enter the industry that ordinary people don't know much about, and understand the industry rules and regulatory practices.

"When you have more in-depth accumulation, you will be able to provide some practical and effective legal solutions, so that it has commercial rationality and can meet the commercial balance point of both sides of the transaction." Liang Hongjun said.

In order to improve the professional level of legal services in the field of subdivided industries, the firm is also constantly attracting professionals. For example, Shihui introduced a new partner Kong Xiangjun this year. He once joined Sanofi, a well-known multinational pharmaceutical company, in 2010, as the head of Asia Pacific R & D and China regional legal affairs. He has rich legal service experience in the field of life, health and medical care.

In a large number of private investment and financing transactions, investors or enterprises are often concerned about the protection of their own interests. As a legal service organization, how to help customers protect their legitimate rights and interests through reasonable design of contract legal terms in the process of investment and financing?

Liang Hongjun said that, first of all, world Fai has served many mainstream investment institutions, handling hundreds of investment and financing cases every year. With rich practical experience, Shihui can better understand the common transaction terms and practices and business negotiation practice in the market, know how to improve the investment exit protection clause and founder responsibility protection clause, and strengthen the enforceability of these clauses, so as to protect the business interests of customers to the maximum extent.

Second, in addition to the commercial legal service team specialized in investment, M & A and capital market, there are also lawyer teams in litigation business. With the mutual exchange and discussion between litigation and non litigation teams, a relatively standardized classic clause will be formed in view of the high frequency of legal risks involved in equity investment disputes, so as to provide protection for customers to prevent dispute risks to the greatest extent before the occurrence of disputes.

Double empowerment of technological innovation and institutional innovation

At present, there are more than 80 people in the firm and can provide legal services for hundreds of projects a year. Among its clients, there are not only start-up companies in the early stage, but also Unicorn enterprises and domestic and foreign listed companies with a large demand for M & a business in the mature stage, and many well-known first-line private equity investment funds in the industry. The annual growth rate of Yinghui is 20% - 30%.

"As a fast-growing and cutting-edge law firm, worldview's innovation is multi-faceted." Liang Hongjun said. First of all, at the technical level, we have an independent IT team to develop intelligent service systems. In addition to the normal office support functions, the system also has the auxiliary functions of legal due diligence, transaction document drafting, transaction process management, etc.

"In the traditional legal profession, there are repetitive or relatively low value-added tasks such as procedural document drafting and text checking. We hope to improve the efficiency and accuracy of lawyers' work through technical means by handing over the repetitive basic work to the system. " Liang Hongjun said. In this way, lawyers will have more time to engage in the work that requires more creative thinking, such as the design of transaction structure, the negotiation of transaction, and the realization of special business goals.

At the same time, the establishment of an integrated management system for all aspects of the law firm, namely, the establishment of a professional management system at the initial stage of the development of the law firm, that is, the establishment of a professional management system for all aspects of GSH, that is, the establishment of an incentive system for all aspects of the professional development of GSH, namely, the establishment of an innovative management system in all fields On the other hand, we emphasize the professionalism of partner services, and each partner usually only chooses two familiar areas to provide legal services, so as to ensure that high-quality legal services can be provided to clients with excellent professional service skills.

Such technological innovation and management system innovation enable Shihui to show its own advantages when operating some major projects in the industry. For example, behind Jingdong group's secondary listing in Hong Kong, Jingdong health's round a financing of more than 1 billion US dollars, the spin off and restructuring of Jingdong digital technology and the financing of more than 10 billion yuan, the restructuring of Jingdong Logistics and the private financing of US $2.5 billion all have the figure of worldview.

Liang Hongjun said that such projects have large financing amount, complex transaction structure and many subjects involved, which makes the overall operation difficult. Moreover, in such large-scale commercial transactions, business opportunities are fleeting, and business decision-making itself is in the state of high-speed operation and decision-making. For legal service institutions, it is necessary to respond accurately and efficiently.

"Every partner and lawyer of Shihui has a common entrepreneurial gene. Their work is full of vitality, entrepreneurial passion and strong self driving force. We all work together to build and enhance the value of the brand, put our heart into operation, and regard the construction of Shihui as our common cause. This is also a series of major transactions completed in a short period of time and quickly accumulated reputation in the industry The important reason for that. " Liang Hongjun said.

On the one hand, in terms of legal due diligence and transaction document drafting, there are many knowledge management resources in the system, which can effectively capture and sort out the due diligence information. On the other hand, for the more common legal problems in the industry, the team can quickly compare in the system, and check the legal risks with common characteristics of the industry in comparable projects in the same industry.

"In a complex business transaction, there must be certain legal risks. For excellent lawyers, it is not only to be able to find legal risks, but also to help clients accurately evaluate and measure risks, so that customers can understand whether they are facing common risks or rare risks, and what measures can be taken to deal with risks. To enable customers to make more effective business decisions on the basis of fully understanding the risks is also the real value of the legal services provided by SHW. " Liang Hongjun said.

Huihui is able to complete the transaction step by step in the process of signing and executing the transaction in an orderly and orderly manner in the process of signing and executing the transaction in a systematic manner.