On April 16, the ALB China Law Awards 2026 ceremony was held in Beijing. In recognition of its outstanding overall strength and a series of market-leading transactions, Tian Yuan received multiple nominations and was ultimately awarded “M&A Deal of the Year.”

 

M&A Deal of the Year – Midsize

Guoxin Securities Acquisition of Wanhe Securities

 

Guoxin Securities acquired a total of 96.08% equity interest in Wanhe Securities from seven counterparties, including Shenzhen Capital Operation Group Co., Ltd., through the issuance of A-shares, with a transaction value of approximately RMB 5.192 billion. Upon completion, Wanhe Securities became a controlling subsidiary of Guoxin Securities.

The transaction aligns with the policy direction set by the Central Financial Work Conference to cultivate first-class investment banks and institutions, strengthen large state-owned financial institutions, and advance Guoxin Securities’ internationalization strategy by leveraging the policy advantages of the Hainan Free Trade Port. As Wanhe Securities is registered in Hainan, it benefits from pioneering financial reform and opening-up policies. Following the acquisition, Guoxin Securities will capitalize on these advantages and existing business resources to position Wanhe as a regionally distinctive securities firm with leading capabilities in cross-border asset management and other specialized areas.

Lead Partners: Zhi Yi, Ao Huafang

 

Tian Yuan partner Li Yixing attended the ceremony to receive the award.

Another transaction led by Mr. Li--Hontron Restructures Hongqiao’s Assets for Listing, the largest M&A deal by a privately listed company in the A-share market—was also shortlisted for the M&A Deal of the Year (Premium).

 

In recent years, Tian Yuan has received multiple recognitions at the ALB Awards, including:

• 2024 East China M&A Deal of the Year: Red Star Macalline control transfer
• 2023 Equity Market Deal of the Year (East China): GDR issuance and SIX listing of Ningbo Shanshan
• 2023 M&A Deal of the Year (South China & Central China): CSG’s acquisition of Wenshan Electric Power
• 2022 Energy & Resources Deal of the Year: Yangtze Power’s acquisition of Luz del Sur S.A.A.
• 2022 Equity Market Deal of the Year (East China): Bilibili Hong Kong secondary listing
• 2021 Coastal Region Awards: Capital Markets Firm of the Year; BYD H-share placement