Recently, Shougang Zhixin Qian'An Electromagnetic Material Co., Ltd. (Zhixin Electromagnetic), a soft magnetic material (electrical steel) manufacturing platform of Beijing Shougang Co., Ltd. (Shougang), landed a new round of financing of RMB 2 billion.

Since 2021, Jingtian & Gongcheng’s legal team has advised Zhixin Electromagnetic on its first round of financing of RMB 1.7 billion, merger of Shougang Qian'An New Energy Automobile and Electrical Steel Co., Ltd., and this round of financing of RMB 2 billion. This round of complex and groundbreaking financing is the second one that Zhixin Electromagnetic completed through the China Beijing Equity Exchange, which not only involved the competitive procedure with negotiation adopted by the China Beijing Equity Exchange, but also adopted the right of first offer to existing shareholders. As the legal adviser to Zhixin Electromagnetic for this round of financing, Jingtian & Gongcheng’s legal team provided end-to-end legal services and assisted Zhixin Electromagnetic to complete the financing successfully.