On March 19, 2024, China Business Law Journal (CBLJ) announced the list of Deals of the year 2023, which includes the most complex, innovative and influential transactions and cases in the legal industry in the past year. 6 transactions of Tian Yuan were awarded as Deals of the Year 2023.

 

Will Semiconductor's Swiss listing via USD445m GDR issuance

Will Semiconductor is a world-renowned chip design company that provides advanced digital imaging solutions. This GDR issuance has created many firsts, including the largest overseas IPO in China's semiconductor industry since 2005 and the largest GDR issuance in European financing for the Chinese semiconductor industry.

Lead partners: Zhou Shijun, Cui Chengli

 

Xiamen C&D buys Red Star Macalline

Macalline is China's leading home decoration and furniture shopping mall operator and pan-home business platform service provider. This project is the first transaction in which an A-share listed company acquires an A+H-share listed company and constitutes a major asset restructuring of an A-share listed company. At the same time, it is also the largest asset-scale transaction among the "A-to-A" transactions so far, with multiple The matter is a first.

Lead partner: Xu Tao

 

China Fortune Land Development transfers southern headquarters asset package to China Resources Land for RMB 12.4 billion

This transaction aims to resolve the debt risk of China Fortune Land Development and is an important part of the overall arrangement of the "Debt Restructuring Plan". It is expected to bring back 12.4 billion yuan of net funds to China Fortune Land Development. The relevant funds will mainly be used to repay the financial debts of China Fortune Land Development and its affiliated companies. It effectively promoted the implementation of China Fortune Land Development's debt restructuring and became an effective typical transaction case in resolving the debt crisis of real estate companies in the year.

Lead partner: Ren Yanling

 

Yangtze River Pharma v. HIPI Pharma (Abuse of Dominant Market Position Dispute)

The subject matter of this case is as high as 100 million yuan. It is the first case heard by the Supreme Court involving the abuse of market dominance of raw materials, patents in the pharmaceutical field, and many complex and cutting-edge antitrust issues, including the issue of high monopoly prices for innovative products and the enforcement of intellectual property rights. Limitation of transaction boundaries, indirect competition constraints on intermediate products, etc.

the client lost the case in the first instance and was ordered to pay nearly 70 million yuan, the Tian Yuan team represented the defendant in the second instance. Through professional, comprehensive and meticulous representation, the Supreme Court finally obtained the result of the Supreme Court changing the judgment in the second instance and winning the case comprehensively, which was highly recognized by the client. and appreciation.

The final judgment is 175 pages long, creating many first-of-its-kind determinations. Three key points of the judgment were selected into the "Summary of Judgment Points of the Intellectual Property Court of the Supreme People's Court (2023)", which is expected to provide important guidance for China's subsequent antitrust practice.

Lead partners: Huang Wei, Zhou Wen

 

First AI-generated image copyright infringement case

This case was heard publicly by the Beijing Internet Court on August 24, 2023, and was broadcast live on the CCTV News Platform. It is a representative case in which the People's Court determined that images generated using AI technology constitute works, and software users enjoy the copyright of images generated using AI technology. , has an important impact on the AI industry. This case is the first case of AI painting in China. It provides guidance for the resolution of ownership and infringement disputes in works created using AI technology, and also clarifies ideas for handling similar cases.

Lead partner: Sun Yan

 

Yi'an P&C Insurance reorganisation

On February 24, 2023, the Beijing Financial Court made a ruling to approve the reorganization plan of Yian Property Insurance Co., Ltd. and terminate the reorganization process. BYD Industrial Automobile Co., Ltd. is the restructuring investor. This case is China's first insurance company bankruptcy reorganization project. On January 24, 2024, this project was selected into the "Top Ten Cases in 2023 to Promote the Rule of Law in the New Era" jointly organized by the Supreme People's Court and China Central Radio and Television.

Lead partners: Xu Wei, Li Wei