New Horizon Capital (as the leading investor) and other investors recently entered into a series of investment agreements with the State-owned Assets Supervision and Administration Commission of Tangshan Municipality  (“Tangshan SASAC”) regarding New Horizon Capital and its co-investors’ subscription of capital increase of Jidong Development Group Co., Ltd.(“Jidong Group”). Jidong Group is the controlling shareholder of two A-share companies, which are Tangshan Jidong Cement Company Limited(Stock code:000401) and Tangshan Ceramic Corp., Ltd(Stock code:000856). In addition, Tangshan Jidong Cement Company Limited has recently became the largest shareholder of another A-share company, namely Shaanxi Qinling Cement(Group) Co., Ltd.  (Stock code:600217). The total consideration for the subscription of Jidong Group’s shares is RMB 785,555,555 and will be satisfied by cash. Upon completion, New Horizon Capital, together with its co-investors, will hold 10% issued shares of Jidong Group.

Global Law Office’s team led by Jinrong LIU acted as the PRC legal counsel and advised New Horizon Capital and its co-investors on legal due diligence, negotiating and signing the transaction agreements and related legal issues.