Beijing Head OfficeAdd: 19/F, Tower B, Xinsheng Plaza, 5 Finance Street, Xicheng District, Beijing 100032, PRCTel: (86-10) 6657 8066Fax: (86-10) 6657 8016Email: guantao@guantao.com Chengdu Office...
  • Release time: 2024 - 01 - 22
    Guantao advises Jinmao Property on acquisition of entire equity interest in Runwu JiayeJinmao Property Services Co., Limited (00816. HK, "Jinmao Services") announced on January 18, 2024 that its wholly-owned subsidiary, Sinochem Jinmao Property Management (Beijing) Co., Ltd. ("Jinmao Property"), acquired the entire  equity interest in Beijing Runwu Jiaye Enterprise Management Co., Ltd. ("Runwu Jiaye") for a total cash consideration of RMB323,800,000 (subject to adjustment). Upon completion of the acquisitions, Runwu Jiaye will become an indirect wholly-owned subsidiary of Jinmao Services. Jinmao Services is a fast-growing upscale property management and city operation service provider in China. Jinmao Property, as a principal operating wholly-owned s...
  • Release time: 2024 - 01 - 19
    Guantao advises Xianyang Urban Development Group on issuing private placement of corporate bonds (linked to low-carbon transformation) (Phase I) in 2024Recently, Guantao has assisted Xianyang Urban Development Group Co., Ltd. ("Xianyang Urban Development Group") in completing the issuance of private placement of corporate bonds (linked to low-carbon transformation) (Phase I) for professional investors in 2024.  This bond is the first corporate bond linked to low-carbon transformation in Northwest China.  The scale of this issuance by Xianyang Urban Development Group is RMB500 million, and the bond term is five years (3 + 2); the subscription multiple is 4.31 times and the final coupon rate is 3.56%, making its debut in the capital market for the first time and setting t...
  • Release time: 2024 - 01 - 09
    Guantao advises Shanghai Film Group on producing the phenomenal TV Series "Blossoms"The TV series "Blossoms", originally created, shot and produced by Shanghai, has become a hot topic and continues to be the center of attention. The ratings for its premiere of CCTV 8 have exceeded 2%, and its popularity of Tencent Video has exceeded 30,000, making it a phenomenal TV drama at the end of 2023. As the legal counsel of Shanghai Film Group Co., Ltd., one of the producers of Blossoms, Guantao Shanghai Office provided professional legal services for Shanghai Film Group to produce the TV series. Mr. Li Dequan, Senior Partner of Guantao Shanghai Office, as the leading partner for this project, has formed a team comprised of Wang Gang, You Shanghuai, Wu Yufeng and Yang Qifei...
  • Release time: 2023 - 08 - 30
    Guantao advises CRHMS on issuing A-shares to specific investors, successfully registered with CSRCOn August 29, 2023, China Reform Health Management and Services Group Co., Ltd. (stock code: 000503; stock Abbr: CRHMS) obtained the approval of registration from the China Securities Regulatory Commission (CSRC) for issuing A-shares to specific investors. CRHMS is deeply rooted in the healthcare information industry, closely orienting towards the national strategy of "Healthy China" and the general requirements of the State for the "Three Coordinated Medical Reforms", and in accordance with the development goals and business directions determined by the Company's strategic plan of "One Body and Two Wings, Two-wheel Drive, Digital Empowerment, and Healthy Ecol...
  • Release time: 2023 - 08 - 24
    Guantao advises Sihui Fuji on issuing convertible corporate bonds to non-specific investors and successfully listing the bonds on the ChiNext of Shenzhen Stock ExchangeOn August 24, 2023, Sihui Fuji Electronics Technology Co., Ltd. (hereinafter referred to as "Sihui Fuji " or the "Company") issued convertible corporate bonds to non-specific investors (hereinafter referred to as the "Issuance") and was successfully listed on the ChiNext of Shenzhen Stock Exchange. The size of the Issuance is 570 million RMB yuan. Sihui Fuji was established in 2009 in Zhaoqing, Guangdong Province. Its main business is the R&D, production and sales of printed circuit boards, and it focuses on the manufacture of small batch boards of printed circuit boards. Its market pos...
  • Release time: 2024 - 01 - 19
    Guantao partner Ms. Wang Yang shortlisted for the Private Equity Lawyer of the Year by The Asia Legal Awards 2024On January 18, 2024, the international legal medium ALM announced the shortlist for The Asia Legal Awards 2024.  Guantao partner Ms. Wang Yang has been shortlisted for the "Private Equity Lawyer of the Year" award for her outstanding professional ability and wide client recognition. Private Equity Lawyer of the YearWang YangExecutive Partner of Guantao Beijing OfficePractice Area: Corporate/M&A, Private Equity and Venture Capital, Capital Markets, Cross-border Investment & FinancingEmail: wangyang@guantao.comMs. Wang Yang has been awarded Outstanding Lawyer of Beijing and Outstanding Communist Party member of Beijing Lawyer Profession.  Ms. Wang ...
  • Release time: 2024 - 01 - 18
    Guantao 11 practice areas and 12 individuals ranked  in Chambers Greater China Guide 2024On January 18, 2024, Chambers and Partners, a leading global legal research and analysis institution, officially published the Chambers Greater China Region Legal Guide 2024.  Guantao 11 practice areas and 12 individuals are ranked among it by virtue of its outstanding legal expertise, remarkable market performance and excellent client reputation. Ranked in practice areas:Capital Markets: Domestic IssuancesCorporate/Commercial: BeijingCorporate/Commercial: Shanghai Corporate/Commercial: Zhejiang: Non-contentiousCorporate/M&ADispute ResolutionPrivate Equity: Buyouts & Venture Capital InvestmentEnergy and Natural ResourcesProjects and InfrastructureReal EstateRestructuring/Ins...
  • Release time: 2024 - 01 - 11
    Guantao nominated in Chambers Greater China Region Awards 2024Chambers Greater China Region Awards On 11 January 2024, Chambers and Partners, a leading global legal research and analysis institution, announced the shortlist for the Chambers Greater China Region Awards 2024, and Guantao was nominated for the Firm Awards “Charity & Pro Bono: Outstanding Firm”.   Firm AwardsCharity & Pro Bono: Outstanding FirmShortlisted by Chambers as the Charity & Pro Bono: Outstanding Firm, Guantao is recognized by the public for its activities in social interest..  In the future, Guantao will continue to give full play to its legal expertise, actively perform its social responsibilities, promote the in-depth implementation of pro bono legal services, and explore the co...
  • Release time: 2023 - 11 - 30
    Guantao Shanghai office awarded "Outstanding Data Service Provider 2023"Global Data Ecosystem Conference 2023 opened in Shanghai on November 25th, 2023. Gong Zheng, Deputy Secretary of Shanghai Municipal Party Committee and Mayor of Shanghai, attended and opened the conference.  Liu Liehong, Secretary and Director of the National Data Bureau, and Chen Jie, Vice Mayor of Shanghai, delivered speeches.  As an international event in the field of data elements, the conference, with the theme of "Data connecting the globe, Ecosystem promising the Future", attracted more than 1,000 global data service providers to attend.  Guantao Shanghai Office was awarded the "Outstanding Data Service Provider 2023" and received a digital asset with circulation...
  • Release time: 2023 - 11 - 30
    Guantao partners ranked in The Legal 500 Private Practice Powerlist 2023 – Arbitration China On 28 November 2023, The Legal 500 published The Legal 500 Private Practice Powerlist 2023 – Arbitration China and three partners from Guantao were ranked in the list. Guantao lawyers listed:Lyu YiSun ShaosongWang GangGuantao has decades of experience in the field of litigation, arbitration and other alternative dispute resolution (ADR) procedures and is particularly adept at handling all kinds of significant, complex and high-net-worth cases. Relying on its onshore and offshore offices, as well as the Shanghai Joint Operation Office (JOO) set up with Ashurst LLP, Guantao assists its clients in responding to the ever-growing number of global cross-border legal disputes, helping clients su...
  • Release time: 2023 - 12 - 13
    Guantao opened Wenzhou officeThe weight of the state reaches the world, and the law is for the people. Wenzhou in December is still warm as spring, spreading the city's unique vitality and charm.  As a city of innovation and a port of vitality, Wenzhou is world known for its prosperous economy, deep cultural heritage and unique "Wenzhou people’s spirit". On December 10, 2023, the opening ceremony of Guantao Wenzhou Office was held in Wenzhou CBD Runguang Building.  More than 60 Guantao lawyers, guests and peers gathered to witness the opening ceremony of Guantao Wenzhou Office and extend sincere congratulations. Guantao Wenzhou Office, formerly known as ZHEJIANG SHIDAI BUSINESS LAW FIRM, is one of the first batch of "Zhejiang Famous Law Firms" an...
  • Release time: 2023 - 12 - 04
    Guantao opened Nanchang OfficePainting a New Volume for Striving ForwardDecember 2, 2023Guantao Nanchang OfficeOfficially Opened by the Bank of Gan RiverOn December 2, 2023, Guantao Nanchang Office (hereinafter referred to as "Nanchang Office") officially opened, becoming Guantao’s 27th global office . The establishment of Nanchang Office is one of the important initiatives of Guantao's regional strategic planning, and it demonstrates the beautiful vision of Guantao to bring the service ideal of "integrity and diligence, efficiency and quality, and the pursuit of perfection" to the legal profession market in Jiangxi Province. Guantao regional managing partners  and guests attended the opening ceremony.  Han Dejing, Director of the firm, Cui Liguo, Cha...
  • Release time: 2023 - 10 - 13
    The 4th Ashurst Guantao Academy was successfully held and completed in LondonFrom October 1st to October 6th, 2023, fifteen young partners and senior associates from various offices in Guantao participated in the 4th Ashurst Guantao Academy (“Academy”), the International Training Programme held at Ashurt's headquarter in London, UK. At the beginning of the activity, Mr. Cui Liguo, Guantao’s Founding Partner and the Director of the Management Committee, reviewed and introduced to the delegation the history, culture and achievements of Ashurst and Guantao’s cooperation with each other; Ms. Karen Davies, Global Chair of Ashurst, introduced about Ashurst's history, culture and business; Ms. Jini Lee, Head of Region for Asia of Ashurst, focused on Ashurst's recent milestones and fut...
  • Release time: 2017 - 03 - 06
    On February 22 and 24, XMU-Guantao International Law Forum kicks off. It was organized by Xiamen Office and Institute of International Economic Law of Xiamen University.On the noon of February 22, first luncheon meeting was held in Youran Cafeteria.Zhang Binxin, assistant professor of XMU, introduced her research in Judge Parr’s objection in Tokyo Trial. Over ten professors and lecturers specializing in international law took part in the luncheon meeting and had a heated yet friendly discussion.On the afternoon of February 24, the first seminar of XMU-Guantao International Law Forum. Professor Xu Chongli, deputy chairman of Chinese Society of International Economic Law lectured on constructivism analysis of international law.In this seminar, a young lecturer first introduced his or her the...
  • Release time: 2017 - 03 - 06
    On 14 February 2017, Xiamen Office signed strategic cooperation agreement with Institute of International Economic Law of Xiamen University. Eminent professors, including Song Fangqing, dean of law school of XMU, and Guantao lawyers, including Li Yansheng, executive partner of Xiamen Office, attended the signing ceremony.Both parties recognized the opportunities and challenges for economic law scholars and lawyers posed by China’s rise. They fully appreciated the benefit of long-term close cooperation for each other’s development, especially in the background of The Belt and Road Initiative and Go Global strategy. For this purpose, they decided to start strategic cooperation and set up XMU-Guantao International Law Forum.XMU-Guantao International Law Forum focuses on, among other things, i...
  • Release time: 2017 - 03 - 06
    Sponsored by Guantao Law Firm in 2016, Guantao lawyers actively participated in donating for charities to Guantao Ganlin Class. 50 students of Dali Weishan No.1 Middle School joined Guantao family. The students' thirst for knowledge, enthusiasm for learning and wish for changing destiny deeply impressed us.When the new year begins, Guantao proposed an initiative again. In order to prepare a significant gift for Guantao Ganlin students, Guantao lawyers decided to donate a book corner, so that the children could know a wider world.Liu, teacher of Weishan No.1 Middle School, expressed appreciation for Guantao when receiving the books. Liu said: “Students like the books. They need spiritual wealth. These books are the best new year gifts for them. Reading will benefit the children in the w...
  • Release time: 2016 - 11 - 29
    To celebrate the Party's birthday, Party Branch of the Guantao Xi'an Office set up a series of bono activities. On 25 June, lawyer Li Wenhui, secretary of the Party Branch of Guantao Xi'an Office, senior partner Sun Dongfeng, young lawyers and staffs of administrative departments arrived at Shaanxi Aiding Center for Children of Incarcerated Parents and presented the children with food such as rice, flour, edible oil, milk, oatmeal, beans etc. and cash.This center, founded in 1996, works as a non-profit charity organization for the minor children of incarcerated parents. It has helped more than 600 minor children of prisoners get through their most difficult days, find jobs and earn their own livings. Guantao Xi'an Office will carry out "Legal Classroom" at the cen...
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MMC-ST series, make flying easier.
MMC-ST series, make flying easier.
  • Release time: 2016 - 06 - 11
    Guantao Law firm (“Guantao”) is one of the earliest law firms in China to obtain the qualification of practicing securities, and also one of the earliest batches of law firms engaging in securities business. In the field of domestic capital market, Guantao has set up an organizational structure with Beijing, Shanghai, Xi'an and Shenzhen as the core and radiates across the country. In the field of overseas capital market, Guantao has set up Guantao Hong Kong office to mainly undertake overseas capital market business. Meanwhile, Guantao focuses on strengthening the cooperation and connection with other overseas law firms, forming an institutional pattern which is ”omni-directional, inter-jurisdictional and systematic“.Over the past twenty years, Guantao has fully grasped the opportunity...
  • Release time: 2016 - 06 - 11
    Corporate and M&A is one of Guantao’s core practice areas, in which it has been a market leader and is widely recognized for many years.  It has received rankings and recommendations from globally renowned legal rating agencies such as Chambers Global, Chambers Greater China Region, ALB, The Legal 500, IFLR1000, China Business Law Journal, LEGALBAND and Asialaw Profiles for a number of consecutive years. Guantao's Corporate and M&A team covers multiple jurisdictions, languages and cultures.  In recent years, Guantao has represented numerous domestic and foreign multinational corporations, funds and public companies on a number of well-known and complex M&A transactions.  The services cover all stages of transactions: from industry access laws and policie...
  • Release time: 2016 - 06 - 11
    Guantao provides high-quality legal services to banking and non-bank financial institutions, including central bank and commercial banks, policy banks, cooperative banks, joint stock banks, foreign-invested banks, trust investment companies, asset management companies, securities companies, insurance companies, fund management companies, futures companies, guaranty companies, leasing companies and other financial institutions. Guantao’s services in this area include but are not limited to: • equity participation in Chinese banks by foreign banks• formation of banking and non-bank financial institutions• Sino-foreign finance cooperation projects• foreign financial institutions access to the PRC market• risk management, liquidation and exit strategies for financial institutions• export credi...
  • Release time: 2016 - 06 - 11
    Guantao is one of the earliest law firms that established real estate department, could provide full and whole industry legal services to all kinds of clients, including government agencies, development enterprises, construction groups, financial institutions, real estate REITs, etc. Legal services of Guantao team not only contain traditional real estate development projects, such as land development (land first-level development, land use right transfer and land comprehensive development), M&A and restructuring of real estate projects, construction projects management (contracting and subcontracting, design and performance of construction contracts, final acceptance of construction projects, settlement of construction payment, etc.), sale and leasing of commercial properties, property...
  • Release time: 2016 - 06 - 11
    Adhering to the client-centric philosophy and advocating the spirit of teamwork, Guantao has been deeply involved in the field of dispute resolution, including litigation, arbitration and other alternative dispute resolution (ADR) for decades, and is particularly skilled in handling major and high profile cases.Our lawyers across the world are well-versed in legal theory, diligent, service-oriented and dedicated to pursuing excellence. In recent years, we handle more than 30 cases per working day on average. We have a deep understanding of client needs as well as the insight into legal trends, clear case strategies, and proficient litigation skills. We are confident that our experience as courtroom advocates on both sides for plaintiffs and defendants can bring to bear our unique insight i...
  • Release time: 2016 - 06 - 11
    In the field of Restructuring/Insolvency, Guantao has outstanding performance and has been ranked among the top law firms in China in terms of overall strength and has gained a good reputation in the industry. Therefore, Guantao has been ranked and recommended by Chambers, The Legal 500, IFLR 1000, Asialaw Profiles, ALB and other globally renowned legal rating agencies for many years.One of the First Leading Law Firms to Enter the Chinese Insolvency Industry, with a Strong Track Record of Success across ChinaGuantao was one of the first law firms in China to engage in corporate liquidation or restructuring.  Since 2002, the China Securities Regulatory Commission (CSRC) has been focusing on the rectification of illegal securities companies, and Guantao was entrusted by the CSRC to part...
  • Release time: 2017 - 08 - 03
    Guantao's legal services in the field of infrastructure and projects including but not limited to:  • representing and advising clients in the approval stage of infrastructure investment projects such as power, oil, gas, new energy, and environment protection in respect of the project examination and approval, verification and approval, filing or other mandatory or referenced prepositional procedures• advising on the land use rights, sea areas use rights, construction planning, building property rights and other relevant legal matters involved in infrastructure and construction projects• providing legal services for various PPP projects (including BOT, BOOT, BOO, etc.)• providing legal services for various contracts of construction project (including EPC, EPCM, PMC, etc.)• advisin...
  • Release time: 2017 - 02 - 05
    Intellectual property has been a long-time core practice and research area for Guantao, and it has successfully represented clients on a number of cases in matters including patent, trademark, copyright, trade secret, proprietary technology, integrated circuit, computer software, database protection, new plant type, the design and implementation of protection programs for the copy right / trade mark / franchise right, etc.Also, Guantao has extensive experience in the field of telecommunication and media, and provides legal services for companies' M&A, general telecommunication services, value-added telecommunication services, internet services, etc.Guantao's services include but are not limited to:• information search• application and registration of IP rights (including comput...
  • Release time: 2016 - 11 - 26
    Guantao is one of the very few Chinese law firms with substantial experiences in representing both domestic and foreign clients in merger clearance, antitrust litigation, government investigations, compliance program and counseling projects.Our antitrust lawyers have extensive and in-depth cooperation with international law firms and economic experts in order to provide our clients with high quality legal support to meet their needs in various antitrust matters.Meanwhile, the consistent communications between Guantao lawyers and the Chinese antitrust authorities, including the Ministry of Commerce (“MOFCOM”), the National Development and Reform Commission (“NDRC”) and the State Administration for Industry and Commerce (“SAIC”), have also enabled Guantao lawyers to serve the clients with th...
  • Release time: 2016 - 06 - 11
    Guantao has rich knowledge and experience in international commerce, with outstanding legal team. Guantao has provided legal services on remedy in international commerce for many large-scale enterprises, corporations and government agencies. Guantao has rich experience in anti-dumping investigation, anti-subsidy, safeguard measure, trade remedy, WTO rules on goods, service, investment and IP, as well as WTO dispute settlement procedure, custom’s classification, valuation and appellations of origin. Based on these, with a thorough understanding of Chinese substantive and procedural law, we are able to provide comprehensive high-quality legal service on for anti-dumping investigation, anti-subsidy investigation and safeguard measure of our clients. Meanwhile, Guantao has served as legal coun...
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  • Beijing Head Office
  • Chengdu Office
  • Dalian Office
  • Guangzhou Office
  • Hangzhou Office
  • Hong Kong Office
  • Ji'nan Office
  • Shanghai Office
  • Shenzhen Office
  • Suzhou Office
  • Sydney Office
  • Tianjin Office
  • Xiamen Office
  • Xi'an Office
  • Wuhan Office
  • Nanjing Office
  • New York
  • Qingdao Office
  • Chongqing Office
  • Luolong Office
  • Hefei Office
  • Haikou
  • Zhengzhou Office
  • Fuzhou Office
  • Toronto Office
  • Updated: 2015 - 01 - 22

    Beijing Head Office

     

    Add: 19/F, Tower B, Xinsheng Plaza, 5 Finance Street, Xicheng

    District, Beijing 100032, PRC

    Tel: (86-10) 6657 8066

    Fax: (86-10) 6657 8016

    Email: guantao@guantao.com

     


    Beijing Head Office

    Located in the heart of Beijing's financial district, our head office was established in 1994 and has become a leading law firm in China. With more than 80 partners and 190 lawyers, Beijing Office serves as the gateway to our extensive PRC network of unparalleled expertise and long-standing client relationship. The head office has the experience spanning a broad range of sectors, including banking, securities, insurance, large-scale infrastructure projects, real estate, manufacturing, transportation, energy and natural resources, environmental protection, research and development, chemical, pharmaceutical and service industry. We provide a full range of legal services including:

    • International trade and foreign direct investments;

    • Mergers, acquisitions and dispositions;

    • Venture capital and private equity transactions;

    • Capital markets and corporate finance (public and private);

    • Joint ventures and cooperation agreements;

    • Debt restructurings and insolvencies;

    • Corporate reorganizations and commercial contracts;

    • Administrative compliance and corporate governance;

    • Intellectual property and new- and high-tech;

    • Bidding and tendering;

    • Commercial litigation and arbitration.

    With legal expertise in virtually every area of law, Guantao has the scope and flexibility to meet the demands of today's most sophisticated clients. Our domestic and international clients rely on Guantao to provide strategic, innovative advice on the most complex corporate transactions, significant banking and securities developments, intricate financing issues and high profile litigation matters. Equipped with solid legal theory and skills, our superior team of lawyers and legal experts are diligent and trustworthy, with proven track record of excellent performance. This ensures our clients receive the most reliable and comprehensive legal advice in the rapid changing economy in China and around the world.

     

  • Updated: 2016 - 06 - 11

    成都.jpg

     

    Add: Room 702, 7/F, Western Tower, 19, 4th Section, Renminnan

    Avenue, Chengdu 610041, PRC

    Tel: (86-28) 6829 9886

    Fax: (86-28) 6829 9899

    Email: guantaocd@guantao.com

     

     

    Chengdu Office

    Chengdu, the capital city of Sichuan Province, is at the forefront and key region in China's western region development strategy. As the hub for finance, commerce, transportation as well as science and technology, Chengdu has become the hotspot for international investment. Located in the central business district of Chengdu, Chengdu Office was established in 2001 with 9 partners and over 32 associates and paralegals.

    International investment is a core practice area for our Sichuan office, attributing to rapid economic growth in the western region of China. The Sichuan office's other core practice areas include acquisition of domestic equity / assets by overseas enterprises, setting up joint ventures or wholly-owned foreign enterprises or branch operation in China on behalf of foreign entities; Additionally, Sichuan Office has accumulated extensive experience in fields including real estate, securities, corporate asset restructuring, and administrative laws.

  • Updated: 2016 - 11 - 24

    大连.jpg

     

    Add: Room 1109, 11/F, Renshou Tower, Renmin Road,

    Zhongshan District, Dalian 116001, PRC

    Tel: (86-411) 8282 9601

    Fax: (86-411) 8282 9901

    Email: guantaodl@guantao.com

     

     

     

    Dalian Office

    Guantao Dalian Office was established in April 2002 with 4 partners and 12 associates and paralegals.

    It is pleased to make Guantao's broad legal expertise available to northeast China from Dalian, a dynamic and vibrant port and high-tech city serving as a gateway to Korea and Japan. Dalian Office offers the extensive resources of a large firm with legal services ranging from securities, banking, reorganization and listing, real estate, to commercial litigation and arbitration.

    Increasingly, Dalian Office is working with clients in new sectors of Dalian's rich and diverse economy. As with all Guantao offices we work as a cohesive PRC legal team to deliver integrated service of the highest caliber in areas of compliance, M&A and restructuring, equity incentives, issuance of stocks and bonds, litigation and arbitration to our domestic and overseas clients.

  • Updated: 2016 - 06 - 11

    Guangzhou Office

     

    Add: Suites 1703-04, R&F Yingxin Tower, 28 Huaxia Road,

    Zhujiang New Town, Tianhe District, Guangzhou 510623, PRC

    Tel: (86-20) 38398787

    Fax: (86-20) 38398331

    Email: guantaogz@guantao.com

     

     

     

    Guangzhou Office

    Guantao Guangzhou Office was established in December 2012. It is staffed by an excellent team of 4 partners and over 50 associates and paralegals, who are recognized leaders in their fields of expertise.

    Guangzhou is the capital and largest city of Guangdong province, People's Republic of China. Located on the Pearl River, about 120 km (75 mi) north-northwest of Hong Kong and north-northeast of Macau, Guangzhou is the third largest Chinese city and southern China's largest city. Guangzhou is a key national transportation hub and trading port. One of the five National Central Cities, it holds sub-provincial administrative status.

    We can offer efficient and high-quality legal services especially in areas of banking & finance, capital markets, corporate / M&A, private equity and funds, state-owned enterprise reform and property right transfer, non-performing asset, foreign direct investment, intellectual property, real estate & construction and litigation & arbitration. With a wealth of knowledge and experience, our Guangzhou team has achieved high level of success and built a good reputation.

  • Updated: 2016 - 06 - 11

    杭州.jpg

     

    Add: Room 1803, South Tower, Anno Domini Mansion, 8 Qiushi

    Road, Xihu District, Hangzhou 310013, PRC

    Tel: (86-571) 89939691

    Fax: (86-571) 89939620

    Email: guantaohz@guantao.com

     

     

     

    Hangzhou Office

    Guantao Hangzhou Office was established in January 2014. It's staffed by 21 partners and over 40 associates and paralegals.

    Hangzhou, the capital and most populous city of Zhejiang Province in east China, is the sub-center city of Yangtze River Delta.

    Hangzhou Office provides all-around and high-quality legal services in areas of cross-border investment and trade, corporate securities, intellectual property, dispute resolution, family wealth management, infrastructure and real estate.

  • Updated: 2016 - 06 - 11

    Hong Kong Office

     

    Add:Suites 1801-3, 18th Floor, One Taikoo Place,

    Quarry Bay, 979 King’s Road, Hong Kong

    Tel: (852) 2878 1130

    Fax: (852) 2878 1360

    Email: guantaohk@guantao.com

     

     


    Hong Kong Office

    Guantao Hong Kong Office, established in December 2008,  After the three-year association with Peter C. Wong, Chow & Chow and approved by the Law Society of Hong Kong, our Hong Kong Office was localized as a Hong Kong solicitor firm with effect from 1 February 2016 under the name of Guantao & Chow, providing clients with the laws of Hong Kong and mainland China.

    After the localization, Guantao & Chow currently has five partners Ms. Grace Pengpeng Yan, Ms. Clara C.Y. Ngo, Mr. George K.H. Lee, Mr. Albert G.M. Lam, Mr. Lam Sek Kong and four consultants Mr. Anthony W.K. Chow, Ms. Anna S.H. Chow, Mr. Jackson K.B. Woo and Mr. Alfred C. K. Chan. Mr. Chow, founding partner of PCWCC, former chairman of the Hong Kong Jockey Club and former chairman of The Law Society of Hong Kong, serves as Guantao global chairman and Ms. Yan as the managing partner of Guantao & Chow.

    Our practice covers corporate & financing, mergers & acquisitions, capital markets, FDI, intellectual property, litigation & arbitration, sale and purchase of house, company secretary service, China-appointed attesting officer and notary public with special focus on cross-border transactions.

    We have an alliance with Ashurst LLP for over 10 years. Ashurst LLP is a leading international law firm with 29 offices in 17 countries. By working closely with Ashurst, we serve our clients on a global basis.


  • Updated: 2016 - 06 - 11

    Ji'nan Office

     

    Add: 19/F, Zhongyin Plaza, 26 Luoyuan Avenue, Lixia District, Jinan

    250011, PRC

    Tel: (86-531) 6788 5166

    Fax: (86-531) 6788 7166

    Email: guantaojn@guantao.com

     

     

     

    Ji'nan Office

    Guantao Jinan Office was established in March 2007 with 9 partner and a strong team of 45 associates and paralegals, who have the depth, experience and resources to provide timely strategic legal services for all types of business transactions and disputes in Shandong Province, an economic powerhouse on China's east coast.

    Jinan Office provides a full range of legal services, including acquisition and disposition of corporate assets, corporate restructuring and liquidation, venture capital investment, large-scale land development, municipal planning and construction, as well as corporate general legal counsel and other non-litigation legal services. We are also known for our highly specialized expertise in taking on high profile litigation cases.

  • Updated: 2016 - 06 - 11

    Shanghai Office

     

    Add: 12F/22F, L'Avenue No.99 Xianxia Road, Changning District, Shanghai.

    Tel: 021-23563298

    Fax: 021-23563299

    Email: guantaosh@guantao.com

     

     

     

    Shanghai Office

    Guantao Shanghai Office, honored as 'China Law Firm of the Year', was established in March 2001. After merging with Shanghai Zhongmao Law Firm and Shenda Partners in 2016, now it is staffed by an excellent team of 69 partners and consultants along with over 260 associates and paralegals, who are recognized leaders respectively.

    Advantage practice areas of Shanghai Office include infrastructure & real estate, mergers & acquisitions, private equity & venture capital, foreign investment, banking & finance, bankruptcy & liquidation, delimitation of property rights, issuance of stocks and bonds, intellectual property, bidding & tendering. It also has outstanding performance on commercial litigation and arbitration, and criminal defense.

    Shanghai Office provides full legal services for numerous major projects, such as Expo 2010 Shanghai China, Shanghai Tower, Shanghai Disney Resort, Shanghai Middle Ring Road Project, Hongqiao Transportation Hub, National Exhibition and Convention Center and Xuhui Binjiang Area Development. Shanghai Office also acts as legal counsel for a number of government agencies, enterprises and institutions, such as China Eastern, Jinmao Group, Shimao Group, Bank of China, Bank of Communications, SPD Bank, Minsheng Bank, BEA, State Grid East China Grid Company, Shanghai Film Co., Ltd., Lujiazui Co., Ltd., Shanghai Municipal Investment, INESA, Shanghai Rainbow Group, Shanghai Shendi Group, ROCKBUND, Mitsubishi Electric etc.

    Shanghai is the largest and most economically developed city in China. Shanghai Office is committed to providing comprehensive and high-quality legal services to clients in all industries.

  • Updated: 2016 - 06 - 11

    Shenzhen Office

     

    Add:56/F Tower 1, Excellence Century Centre, Jintian Road, 

    Futian District, Shenzhen 518048, P.R.China

    Tel: (86-755) 2598 0899

    Fax: (86-755) 2598 0259

    Email: guantaosz@guantao.com

     

     

     

    Shenzhen Office

    Shenzhen is the fastest developing city in China and one of the core cities of the Guangdong-Hong Kong-Macao Greater Bay Area. Shenzhen is also the centre of technology, finance, international business and shipping industries in China. Shenzhen is the home to the Shenzhen Stock Exchange as well as the headquarters of numerous high-tech companies, insurance companies and banks.


    We established our Shenzhen office as early as in 2003, and now have more than 20 partners and 60 fee earners. We have an excellent reputation for top quality advice and good service on both contentious and non-contentious matters. We offer a full range of services covering corporate, capital market, private investment funds, asset-backed securities, real estate, employment, intellectual property, insurance and shipping as well as all forms of dispute resolution including commercial litigation and arbitration and white-collar crime.


    We act for clients locally, in Shenzhen, and we work closely with our Hong Kong and Guangzhou offices so that we are able to provide service to our clients across the Greater Bay Area.

     


  • Updated: 2016 - 06 - 11

    Suzhou Office

     

    Add: Rooms 1804-1806, South Building, Tiandu Building, No. 211 Changjiang Road, Suzhou High tech Zone

    Tel: (86-512)  6606 0898

    Fax: (86-512) 6591 9057

    Email: guantaosuzhou@guantao.com

     

     

     

    Suzhou Office

    Guantao Suzhou Office, located in Harmony City in the CBD of Suzhou next to Jinji Lake, possesses 4 partners among almost 30 associates and supporting staff. Core team members have more than ten years of practice experience in Suzhou.

    Suzhou Office focuses on core business areas of real estate & construction, corporate perennial legal services and capital markets, acting as legal counsel to more than 500 enterprises, representing thousands of litigation and arbitration cases and earning a good reputation from the clients. To guarantee the efficient and high-quality services, Suzhou Office has set up different departments, including Labor Department, Corporate Department, Foreign Affairs Department (working languages: Chinese Mandarin, English and German), Litigation Department, Securities Department and Real Estate Department. To meet client requirements, Guantao teams composed of professional lawyers safeguard the clients against legal risks in a comprehensive manner. With regards to important and complicated legal affairs that involve multi-departments, relevant departments and other Guantao offices will work together in order to ensure the service efficiency and quality.

    Guantao Law Firm's Annual Legal Counsel Service Center is based in Suzhou Office as the back-end processing center for Guantao's annual legal counsel services across the country to centralize and take care of matters for perennial clients such as contract review and emails reply.



  • Updated: 2016 - 06 - 11

    Sydney Office

     

    Add: Suite 6, Level 7, 66 Hunter Street, Sydney NSW 2000

    Tel: +(612) 9002 0999

    Fax: +(612) 9283 3567

    Email: sydney@guantao.com

     

     

     

    Sydney Office

    Guantao Sydney Office was officially established on 18 May 2015.

    Sydney Office will develop the Australian investment market based on offering service for Chinese clients, keep the alliance partnership with world's top law firm Ashurst and provide the most humanized and commercialized investment solutions for clients.

    The focus of Sydney Office legal services includes, in particular, the following issues:

    • To assist M&A of Chinese enterprises in Australia

    • To assist financing of Chinese enterprises on ASX

    • To support funds and investment projects of Chinese funds, PE, VC in Australia

    • To support Australian investment in China

    The expertise of Sydney Office extends to the following practice areas:

    • Agriculture

    • Real Estate & Construction

    • Mining, Energy & Natural Resources

    • Project & Infrastructure

    • High and New Technology

    • Funds, Bonds, Securities and Financing

  • Updated: 2016 - 06 - 11

    Tianjin Office

     

    Add: Room 609-611, 6/F, Vantone Center Tianjin, the 

    intersection of Dagu North Road and Xuzhou Road, Heping

    District, Tianjin 300042, PRC

    Tel: (86-22) 58299677 58299678

    Fax: (86-22) 58299679

    Email: guantaotj@guantao.com

     

     

    Tianjin Office

    Our Tianjin Office was established in April 2009.

    Lying in the center of circum-Bohai region, Tianjin has been recognized as one of the largest industrial centers in Northern China. Now with the construction and opening-up of its Binhai New Area, Tianjin is embracing a new significant historical opportunity of development.

    Our Tianjin office, located in Central Plaza, the landmark building of the city, is staffed by experience lawyers competent to provide efficient and quality legal services to clients in different industries, with emphasis on foreign investment, mergers and acquisitions, corporate restructuring, real estate, and intellectual property.

  • Updated: 2016 - 06 - 11

    厦门.jpg

     

    Add: 23/F, Qixing Tower, 178 Qixing West Road, Siming District, Xiamen 

    361012, PRC

    Tel: (86-592) 5205 899

    Fax: (86-592) 5202 133

    Email: guantaoxm@guantao.com

     

     

     

    Xiamen Office

    Guantao Xiamen Office set up since March 2008. In September 2015, the elite teams of two local law firms, i.e. Fujian Jianchang Law Firm and Fujian Dadao Law Firm wholly joined Guantao Xiamen Office. Currently, Xiamen Office have 5 partners and over 60 associates, trainee and supporting staffs.

    Xiamen locates across the strait from Taiwan, the dynamic markets of Xiamen and Fujian Province together with Xiamen's strategic geo-economic location, as the Special Economic Zone, national comprehensive matched reform experiment zone, Fujian Pilot Free Trade Zone, Xiamen currently become the Model Area of Cross strait cooperation in new industries and modern service industry, shipping center of South-eastern China, Finance Service Center of Cross Strait, Trade Center of Cross Strait. Guantao Xiamen Office focuses on to provide with the excellent, comprehensive and effective legal service and legal resolution for clients.

    Guantao Xiamen Office offers a variety of legal services in the fieldsof cooperate, banking, IPO, M&A, PE and Finance, real estate projects, bankruptcy, shipping and maritime, international trade, sports and projects, litigation and arbitration. We are also dedicated to providing legal services of high quality in the fields of criminal and IP rights.

  • Updated: 2016 - 06 - 11

    西安.jpg

     

    Add: Room 713, Shang Center, 51 Gaoxin Road, Xi'an 710075,

    PRC

    Tel: (86-29) 8842 2608

    Fax: (86-29) 8842 0929

    Email: guantaoxa@guantao.com

     

     

     

    Xi'an Office

    Our Xi'an Office was established in July 2001 with 17 partners. Situated in the historic but modern metropolis of Xi'an, our Xi'an Office is best known for its strength in advising corporate clients on securities and investment projects. The expertise of our Xi'an Office professionals extends to corporate reorganization, asset restructuring, mergers and acquisitions, stocks offering and listing, bankruptcy and insolvency, and real estate development. Additionally, Xi'an Office is well known for success in the traditional field of commercial litigations and arbitrations.

    To promote the public welfare, our Xi'an Office has set up a blog, through which our legal professionals provide pro bono services to the public.

  • Updated: 2017 - 09 - 29

    Wuhan Office

     

    Add: 16/F, CRCC 1818 Center Tower, 109 Middle North Road, Wuchang 

    District, Wuhan 430061, PRC 

    North Road, Wuchang District, Wuhan 430061, PRC

    Tel: (86-27) 8789 8080

    Fax: (86-27) 8789 8180

    Email: guantaowh@guantao.com

     

     


    Wuhan Office

    Founded on the basis of Hubei Dongzifeng Law Firm on 18 June 2017, Wuhan office of Guantao has 13 partners, 44 lawyers and administrative staff, all of whom has practiced law in Wuhan for many years.

    Wuhan is the capital city of Hubei province, the only sub-provincial-level city of central region and a major industrial, scientific and traffic hub. Wuhan Optics Valley boasts two trophy cups: free trade pilot zone and national innovation model zone. Blessed with superb location, Wuhan office is devoted to provide quality legal services for clients.

    Covering construction, real estate, M&A, banking, finance, litigation and arbitration, Wuhan office’s main clients includes car manufacturers, construction companies, real estate companies, commercial banks and AMC. In the foregoing industries, these battle-hardened lawyers all have extensive experiences, skill and connections.


     


  • Updated: 2018 - 07 - 04

    Nanjing Office


    Add: 10/F Xinlihua Center, 151 Taishan Road, Jianye District, Nanjing, PRC

    Tel: (86-25) 5779 3566






    Nanjing Office

    Guantao Nanjing Office, based on the reorganization of JiangSu SuYuan Law Firm which was founded in June 1993, possesses 61 partners, 135 associates and paralegals, covering an area of 2000 square meters in 3 stories.

    Guantao Nanjing Office was recognized as Excellent Law Firm by Jiangsu Provincial Department of Justice and Jiangsu Lawyers Association for many years, honored as Provincial Civilized Unit by Jiangsu Provincial People’s Government for 3 times and awarded twice as Second-Class Collective Merit.

    Successively, numerous lawyers of Guantao Nanjing Office act as chairman, deputy chairman and director of Jiangsu Lawyers Association, director, vice-director and member of specialized committee in Jiangsu Lawyers Association, WTO legal service counsel in Jiangsu, arbitrator of arbitration commission in Jiangsu and Anhui, etc.

    Guantao Nanjing Office insists on specialization and teamwork, consisting of specialized departments, including Corporate Department, Finance & Securities Department, Infrastructure Department, Construction & Real Estate Department, Intellectual Property Department, International Business Department, Shipping and Maritime Department, Marriage and Family Affairs Department, Criminal Defense Department, Litigation & Arbitration Department, Legal Research Office, Adminsitrative Management Department and Business Development Department.

    Guantao Nanjing Office will work together with Shanghai, Hangzhou, Suzhou and other offices, providing domestic and overseas clients with high-quality and efficient legal services in the fields of litigation and arbitration, corporate restructuring and insolvency, capital operation, real estate and construction, finance, insurance, intellectual property, shipping and maritime, etc.

     


  • Updated: 2023 - 09 - 26

    New York


        Email: zack.xu@guantao.com








    New York Office


    Guantao opened its New York office in August 2016. As one of the windows of Guantao in North America, the New York office is based in the United States, and connects Guantao’s service network at home and abroad, providing high-quality U.S. and Chinese legal services for Chinese enterprises’ investment and operation in the U.S. Currently, the NY team has 1 managing partner and 1 consultant. 


    Guantao New York office focuses on the following practice areas: Chinese enterprises’ access to the U.S. capital markets, M&A, and real estate investments. 


  • Updated: 2023 - 06 - 16

    青岛办公室


        Address: 10th Floor, T2 Building, Guoxin Financial Center, No. 31 Xianxialing Road,

        Laoshan District, Qingdao, Shandong

        Email: guantaoqd@guantao.com

        Tel: (86-532) 8581 1717

        Fax: (86-532) 8262 0066



    Qingdao Office

    The Qingdao Office of Guantao Law Firm has attracted many professionals who specialize in economy, finance and securities, technology, and foreign language, as well as have rich experience, interdisciplinary knowledge, and broad networking. With expertise, experience, and resources, we can provide the best solutions to our clients, helping them avoid business risks with value-added service. Half of our attorneys at the office have been selected as “Excellent Lawyer in Shandong”, “Top 10 Young Lawyers in Qingdao”, “Nomination of the Top 10 Young Lawyers in Qingdao”, “Outstanding Lawyers in Qingdao” and so on. We have dealt with many influential cases relating to foreign trades, finance and crimes in Qingdao city and Shandong province and our work is highly recognized. 


    Following the principles of “honesty and diligence, efficiency and quality”, we adopt strict management and rigorous practice. With respect to our people, good teamwork, quality service and pursuit of excellence, we are committed to delivering professional service, building our brand, and keeping up with international standards. We have been awarded as “Excellent Law Firm in Qingdao”, “Exemplary Team” and so on .

     

    Our team specialized in a range of areas including finance, real estate and construction, intellectual property, corporate business, civil and commercial business, crime, insolvency and tax collection, providing comprehensive legal service to meet the needs of our clients. 


  • Updated: 2023 - 06 - 16

    重庆

       

        Address: Room 3307, T1 Building, International Finance Square, No. 1 Qingyun

        Road, Jiangbei District, Chongqing 

        Email: guantaocq@guantao.com

        Tel: (86-23)6762 9387




    Chongqign Office

    Chongqing is the biggest industrial and commercial city in southwestern China, the economic center of upstream Yangtze River, and a core city in the economic zone of Chengdu-Chongqing Economic Circle. It serves as a key manufacturing center in China, financial hub in the western China, and home to the Chengdu-Chongqing Financial Court. 


    The Chongqing Office of Guantao Law Firm was founded in February 2021 and located in the Jiangbeizui CBD with over 10 partners and 30 attorneys. Since its foundation, it upholds the headquarters’ principles of “honesty and diligence, efficiency and quality”, striving to be a new reference for legal firms in southwestern China. Its practice areas include capital markets, corporate and M&A, banking and financing, real estate and construction, insolvency and restructuring, dispute resolution, private equity and venture capital, project and infrastructure, intellectual property, telecommunication, media and technology, administrative law, criminal defense, etc. It provides legal service for various industries such as banking, securities, insurance, telecommunication, technology, infrastructure, real estate, mechanical manufacturing, education, transportation, energy, mineral resources, environmental protection, chemistry, medicine, scientific research, and services. 


    The legal team at the Chongqing Office is consisted of excellent people graduated from domestic and overseas prestigious universities, many of which had worked in various industries with interdisciplinary background. The team enjoys broad networking and enables its members to fulfill their potential. It provides tailored legal service catering to the needs of our clients. 



  • Updated: 2023 - 05 - 09

    Luolong Office

    Address: Luolong County, Tibet Autonomous Region

    Zip code: 855400


    In July 2022, the Guantao Luolong Office was established. Luolong was once a typical 'lawyer-free county'. Currently, Luolong Office is the first law firm established, and Yin Linyan became the first registered practising lawyer in the history of Luolong County, Tibet.


    The establishment of the Luolong Office is a concentrated reflection of Guantao Law Firm's high political consciousness and social responsibility. Luolong is located at the junction of Tibet Autonomous Region, Sichuan and Yunnan Provinces, with a sparse population of less than 60,000 and a backward social, economic, and cultural development. The legal service market is a gap to be filled, and it is a typical 'lawyer-free county'. In 2022, in order to solve the problem of 'lawyer-free counties', under the unified deployment of the Ministry of Justice, 30 law firms from all over the country established new offices in 30 'lawyer-free counties' in Tibet, that is how the Luolong Office was born.

    The Luolong Office is responsible for providing high-quality legal services to the Luolong 's Government and the general public. Its establishment is not only a landmark event for Guantao  to fulfill its social responsibilities, but also an important milestone to promote law-based governance in Luolong. Therefore, Guantao has selected lawyers with excellent professional skills, outstanding comprehensive abilities, and rich business experience from its offices across the country to be based in Luolong.


    As the pioneer, the lawyer base in Luolong Office has now become the legal advisor for the local government and has played an important role in the handling of major local legal events. In addition, the layer shoulders the heavy responsibility of legal aid in Luolong, and has been widely praised for providing legal aid services to the local people.


  • Updated: 2022 - 02 - 11

    Toronto Office

     

      Address: 33/F, Tower A, Landmark, No. 228 Huaining Road, Hefei, China

      Email.guantaohf@guantao.com

      Tel. 0551-62806616

      Fax: 0551-62806618

      Postcode: 230031



    Hefei Office

    Guantao Hefei office was established on 24 August 2021, with more than 70 lawyers and and paralegals.

    Hefei is a sub-centre city of the Yangtze River Delta City Cluster in China as approved by the State Council, and is an important national research and education base, modern manufacturing base and comprehensive transportation hub. Advantage practice areas of Guantao Hefei office include capital market, corporate and M&A, banking and finance, real estate development, restructuring and insolvency, dispute resolution, private equity and venture capital, engineering and infrastructure, intellectual property, financial innovation and structured products, administrative laws, and criminal defense. Guantao Hefei office provides legal services covering a variety of industries including  banking, securities, insurance, technology, import and export, large-scale capital construction, real estate, machinery manufacturing, transportation, environmental protection and other service industries.

    Guantao Hefei office has a team of lawyers with profound theories, rich experience, diligence, integrity of service, good performance and pursuit of excellence, who are able to provide comprehensive legal services for different industries and clients in the whole process.


  • Updated: 2021 - 11 - 29

    Haikou

    Haikou

    Address: 23/F Unit A-B, Peng Hui International Building, No. 20 Heping Avenue, Meilan District, Haikou City, Hainan Province

    Tel: (0898)-66281620

    E-mail: guantaohn@guantao.com

     


    Guantao Haikou Office was established in October 2020, with 3 partners and more than 30 lawyers, paralegals and administrative staff. It is located on the 23rd floor Unit A-B of Penghui International Building, No. 20 Heping Avenue, Meilan District, with offices for lawyers, cubicles, lawyers' meeting rooms, medium-sized meeting rooms, large multimedia conference rooms, coffee rooms and other office facilities, creating an elegant office and reception environment for lawyers and clients.

     

    Haikou is the provincial capital of Hainan, located in the northern part of the province, and is the political, economic, scientific, cultural and comprehensive transportation hub of Hainan Province. Based on the advantages of Haikou's provincial capital location, Guantao Haikou Office has actively developed and expanded its strength by seizing the opportunity of the development of the free trade port construction on Hainan Island. Guantao Haikou Office provides legal services covering a variety of industries including government legal services, banking, securities, insurance, TMT, large-scale capital construction, real estate, machinery manufacturing, education, life sciences and health care, transportation, energy, mineral resources, environmental protection, chemicals, pharmaceuticals, scientific research and other service industries.

     

    Guantao Haikou Office has a team of lawyers with profound theories, rich experience, diligence, service integrity, outstanding performance and pursuit of excellence, as well as a number of legal experts in related professions, which can provide comprehensive legal services for various industries and clients in the whole process.

  • Updated: 2021 - 11 - 29

    Zhengzhou Office

    Zhengzhou Office

    Address: 11-12/F, Kinglan Chuangke Centre, No.17 Chongde Street, Longzi Lake, Jinshui District, Zhengzhou City, Henan Province, China

    E-mail: guantaozz@guantao.com

    Tel: (86-371) 8891 7800

    Fax: (86-371) 8891 7822

     


    Established in October 2019, Guantao Zhengzhou Office has 11 partners and more than 80 lawyers, paralegals and administrative staff. It is located on the 11th and 12th floors of Kinglan Chuangke Center on Longzi Lake in Zhengdong New District. It is equipped with offices for lawyers, cubicles, lawyers' consultation rooms, medium-sized meeting rooms, large multimedia conference rooms, client service centres and other office facilities to create the best office and meeting environment for lawyers and clients.


    Zhengzhou is located in the geographical centre of China and is a major hub city for railways, airlines, highways, electricity, postal services and telecommunications, as well as an important industrial city in central China. Guantao Zhengzhou Office takes 'helping clients to protect interests and helping partners to succeed' as its mission, bearing in mind the values of 'perfection, warmth and win-win', providing clients with professional and efficient legal services with outstanding skills, treating companions with respect, tolerance and support. Guantao Zhengzhou Office aims for a win-win situation for lawyers and clients, lawyers and colleagues, and lawyers and the legal profession, and provide clients with professional and efficient legal services in the practice areas of capital markets, corporate and M&A, real estate and construction, criminal defence, intellectual property, corporate liquidation, restructuring and insolvency, banking and finance, energy and natural resources, private equity and venture capital, antitrust, administrative law, labour law, dispute resolution, infrastructure investment, TMT, with “professional, effective, and timely” attitude of work.


    Guantao Zhengzhou Office will also bring a more outstanding team of professional lawyers to the Central Plains region; build a legal service team with scale, professionalism, reputation and internationalization; build a more comprehensive legal resource integration platform, a stronger law firm brand and a wider global legal service network to help the development of the Central Plains Economic Zone and provide legal protection for the economic development of Henan Province.


  • Updated: 2021 - 11 - 29

    Fuzhou Office

    Fuzhou Office

    Address: 46/F, Fusheng Qianlong Plaza, No.70 Zhenwu Road, Taijiang District, Fuzhou City, Fujian Province, China

    E-mail: guantaofz@guantao.com

    Tel: (86-591) 87311996

    Fax: (86-591) 87311995

     


    Guantao Fuzhou Office was established in September 2019 and currently has 95 lawyers and paralegals, of which 20 are partners.

    Fuzhou is the political, cultural and economic centre of Fujian Province, and Taijiang District has been the financial and commercial centre of Fuzhou since its establishment. Located on Jiangbin West Avenue in Taijiang District, Guantao Fuzhou Office will shine in the West Coast Economic Zone, excelling in legal services and aspiring to become an outstanding law firm in Fujian.


    Guantao Fuzhou Office provides a full range of legal services covering banking and finance, real estate and engineering and capital construction, maritime and shipping, capital market, corporate and M&A, restructuring and insolvency, private equity and venture capital, dispute resolution, litigation and arbitration, intellectual property and many other areas. In particular, our Fuzhou team has a good reputation in the practice areas of banking and finance, intellectual property, dispute resolution and civil and commercial litigation and arbitration.  


    Guantao Fuzhou Office has a team of lawyers with profound theories, rich experience, diligence, service integrity, good performance and pursuit of excellence, as well as a number of legal experts in related professions, which can provide comprehensive legal services for various industries and clients in the whole process.

  • Updated: 2019 - 01 - 04

    Toronto Office


    Add:100 King Street West, Suite 5600, Toronto, ON M5X 1C9 Canada

     Email:toronto@guantao.com

     Tel: +1 (416) 847-1868

     Fax: +1 (866) 288 -1166




    Toronto Office

    Serving as the window office targeting in North America market, Guantao Toronto Office is based in Canada and also works closely with other 17 domestic and overseas offices in a shared manner in terms of investment opportunities, resources, clients and legal talents. We are bringing legal talents together and making joint efforts to the promote business communication and investment that flow between China and Canada.

    Since establishment, Toronto Office has maintained a close cooperative relationship with such numerous top international law firms as BLG (Borden Ladner Gervais), Gowling WLG, Stikeman Elliott LLP, Cox & Palmer and Minden Gross LLP. Our work has been acknowledged round the world and we keep offering clients with tailored legal advice and customized business solutions.

     

    Guantao Toronto Office provides a full range of legal services, including but are not limited to the following core practice areas:

    To assist domestic businesses:

    • To assist M&A of Chinese enterprises in Canada;

    • To assist financing of Chinese enterprises on CSE;

    • To support funds and investment projects of Chinese funds, PE, VC in Canada;

    • To provide review of overseas loan;

    • To assist HNWI on their investment, property and trust businesses in Canada.

     

    To develop Canadian businesses:

    • Investment and trading cooperation in Atlantic Provinces, covering industries of mining, energy and natural resources, infrastructure;

    • Funds, bonds, securities and financing;

    • High technology and blockchain;

    • Legal advisor to Chinese enterprises;

    • Immigration, real estate and marriage ;

    • Commercial litigation;

    • International trade;


  • Release time: 2016 - 11 - 25
    Our WishGuantao Law Firm, headquartered in Beijing, is a one of the pioneer law firms with a reputation for high performance and extensive experience in China. To build a platform with global strategy and core competitiveness, which could create value for the clients and be recognized by the clients, is our wish.Our AttitudeWorking with Guantao colleagues and partners could be professionally rewarding and personally fulfilling. We shall insist on entrepreneurial culture, provide diverse education mechanism and you will get access to robust training along with professional development opportunities. Join us and launch your career with Guantao!
MMC-ST series, make flying easier.
Our WishGuantao Law Firm, headquartered in Beijing, is a one of the pioneer law firms with a reputation for high performance and extensive experience in China. To build a platform with global strategy...
MMC-ST series, make flying easier.
MMC-ST series, make flying easier.
GUANTAO NEWS News

律师业务备忘录 --非上市公司股权激励的相关法律问题

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Time: 2016-06-20
Views: 143

我们曾于2014年7月就非上市公司股权激励相关法律问题撰写文章。2016年2月26日,财政部、科技部、国资委联合印发《国有科技型企业股权和分红激励 暂行办法》(财资[2016]4号,以下简称“4号文”),就规范国有科技型企业股权激励等问题进行细化规范,现结合“4号文”及我们近两年来的实务经 验,对本文章进行补充、修订。

股权激励是指通过使被激励对象(公司的董事、高级管理人员、核心技术(业务)人员等获得公司的股权成为公司股东或者使被激励对象获得其他股权性权益,达到对 被激励对象长期激励的一种激励方式。中国证监会早在2005年即发布《上市公司股权激励管理办法(试行)》,以规范上市公司实施股权激励行为。财政部、科 技部、国资委曾联合或分别针对中央企业、高科技企业、中关村国家自主创新示范区企业实施股权激励发布过相关规定。除前述外,截至目前,我国尚未有非上市公 司实施股权激励明确的普遍适用的法规或规则。

虽然非上市公司实施股权激励尚无普遍适用的法规或规则,但实践中非上市公司实施股权激励的不乏先例,与股权激励授予股份相关的纠纷案件也有发生(2013年富安娜股权激励纠纷案,2007年雪莱特两大发起人股东股权纠纷案,2004年中关村在线与员工股权纠纷案等)。

中国证监会在2014年6月前基于对公司股权明晰的考虑,曾一直要求申报IPO的公司如存在股权激励计划则必须实施完毕或者终止该股权激励计划才能申报发行 上市,此种局面至其2014年6月11日发布《公开发行证券的公司信息披露内容与格式准则第28号——创业板公司招股说明书(2014年修订)》后有所改 变。根据该规定第三十七条“发行人应披露正在执行的对其董事、监事、高级管理人员、其他核心人员、员工实行的股权激励(如员工持股计划、限制性股票、股票 期权)及其他制度安排和执行情况”的规定,申请创业板上市的公司存在股权激励是可以的,披露即可。这一要求与申请在全国中小企业股权转让系统挂牌的相关要 求相同。我们注意到,中国证监会2015年12月30日发布的《公开发行证券的公司信息披露内容与格式准则第28号——创业板公司招股说明书(2015年 修订)》中的第三十七条也做出了同样的规定,但同日发布的《公开发行证券的公司信息披露内容与格式准则第1号——招股说明书(2015年修订)》及《首次 公开发行股票并上市管理办法(2015年修正)》没有相关规定。基于前述,我们认为申请创业板上市或新三板挂牌的公司实施股权激励不存在障碍,但申请主板、中小板上市的公司如存在股权激励计划仍必须实施完毕或者终止该股权激励计划才能申报发行上市。

股权激励同时涉及公司的股权关系和劳动关系,内容包含财务、法律、税收等方面,是一项复杂的系统设计,建议公司管理层或大股东要科学地制定股权激励方案并关注实施细节,以避免纠纷产生并防范空做激励。

本文从适用法律法规、股权激励方案的主要内容和主要法律文书等方面对非上市公司实施股权激励所涉法律问题进行梳理,以供制定非上市公司股权激励方案参考。

一、非上市公司股权激励适用或参考的法律法规

如前文所述,非上市公司实施股权激励没有明确适用的法律规范,实务操作应适用或可参考的法律法规如下:

(一) 应适用的法律法规

1. 《中华人民共和国公司法》;

2. 《中华人民共和国证券法》;

3. 《中华人民共和国公司登记管理条例》。

(二) 国有企业股权激励有关规定

1. 《国有科技型企业股权和分红激励暂行办法》(财资[2016]4号,2016年3月1日);

2. 《国务院国有资产监督管理委员会关于规范国有企业职工持股、投资的意见》(国资发改革〔2008〕139号,2008年9月16日);

3. 《关于在部分中央企业开展分红权激励试点工作的通知》(国资发改革〔2010〕148号,2010年10月11日)

4. 国资委办公厅、科技部办公厅《关于高新技术中央企业开展股权激励试点工作的通知》(国资厅发分配[2004]23号,2004年4月30日);

5. 财政部、科技部关于实施《关于国有高新技术企业开展股权激励试点工作的指导意见》有关问题的通知(财企[508]号 2002年11月18日);

6. 国务院办公厅转发财政部、科技部《关于国有高新技术企业开展股权激励试点工作指导意见的通知》(国办发[2002]48号2002年9月17日)。

(三) 中关村示范区股权激励法律规定

1. 《关于印发股权激励改革试点单位试点工作指导意见的通知》(中示区组发[2009]3号,2009年5月8日);

2. 《关于中关村国家自主创新示范区股权激励改革试点工作若干问题的解释》(中示区组发[2009]12号);

3. 《财政部、科技部关于印发<中关村国家自主创新示范区企业股权和分红激励实施办法>的通知》(财企〔2010〕8号,2010年2月1日);

4. 《中关村国家自主创新示范区市属单位股权激励改革试点工作实施意见》(中示区组发[2010]17号,中关村示范区领导小组办公室下发);

5. 《中关村国家自主创新示范区企业股权激励登记试行办法》(京工商发[2010]94号,2010年9月6日);

6. 《关于进一步推进中关村国家自主创新示范区股权激励试点工作的通知》(中示区组发[2010]24号,中关村示范区领导小组办公室下发);

7. 《关于〈中关村国家自主创新示范区企业股权和分红激励实施办法〉的补充通知》(财企[2011]1号 2011年1月10日)。

(四) 上市公司股权激励相关法律、法规及规范性法律文件

1. 《主板信息披露业务备忘录第3号--股权激励及员工持股计划》(2015年4月20日);

2. 《中小企业板信息披露业务备忘录第4号:股权激励限制性股票的取得与授予》(2015年6月26日);

3. 《中小企业板信息披露业务备忘录第5号:股权激励股票期权实施、授予与行权》(2015年6月26日);

4. 《中小企业板信息披露业务备忘录第6号:股权激励期权自主行权》(2015年6月26日);

5. 《创业板信息披露业务备忘录第8号:股权激励(股票期权)实施、授予、行权与调整(2015修订)》(2015年9月16日);

6. 《创业板信息披露业务备忘录第9号:股权激励(限制性股票)实施、授予与调整(2015修订)》(2015年9月16日);

7. 《财政部关于金融类国有和国有控股企业负责人薪酬管理有关问题的通知》(财金[2009]2号,2009年1月3日);

8. 《关于规范国有控股上市公司实施股权激励制度有关问题的通知》(国资发分配[2008]171号,2008年10月21日);

9. 《国有控股上市公司(境内)实施股权激励试行办法》(国资发分配[2006]175号,2006年9月30日);

10. 《国有控股上市公司(境外)实施股权激励试行办法》(国资发分配[2006]8号,2006年3月1日);

11. 《企业会计准则第11号——股份支付》(财会[2006]3号,2007年1月1日);

12. 《企业会计准则第34号--每股收益》(财会[2006]3号2006年2月15日);

13. 《企业会计准则第22号--金融工具确认和计量》(财会[2006]3号; 2006年2月15日)》;

14. 《上市公司股权激励管理办法(试行)》(     证监公司字[2005]151号,2006年1月1日);

15. 《证监会股权激励有关事项备忘录》(第1、2、3号)。

(五) 税收类相关法律、法规及规范性法律文件

1. 《国家税务总局关于3项个人所得税事项取消审批实施后续管理的公告》(国家税务总局公告2016年第5号,2016年1月28日);

2. 《关于股权奖励和转增股本个人所得税征管问题的公告》(国家税务总局公告2015年第80号,2016年1月1日);

3. 《国家税务总局关于贯彻落实研发费用加计扣除和全国推广自主创新示范区所得税政策的通知》(税总发〔2015〕146号,2015年12月9日);

4. 《财政部国家税务总局关于将国家自主创新示范区有关税收试点政策推广到全国范围实施的通知》(财税〔2015〕116号,2015年10月23日);

5. 《财政部国家税务总局关于推广中关村国家自主创新示范区税收试点政策有关问题的通知》(财税〔2015〕62号,2015年6月9日);

6. 《财政部、科学技术部、国家知识产权局关于开展深化中央级事业单位科技成果使用、处置和收益管理改革试点的通知》(财教[2014]233号,2014年10月1日);

7. 《财政部、国家税务总局关于中关村、东湖、张江国家自主创新示范区和合芜蚌自主创新综合试验区有关股权奖励个人所得税试点政策的通知》(财税[2013]15号,2013年2月25日);

8. 《关于我国居民企业实行股权激励计划有关企业所得税处理问题的公告》(国家税务总局公告2012年第18号,2012年7月1日);

9. 《财政部、国家税务总局对中关村科技园区建设国家自主创新示范区有关股权奖励个人所得税试点政策的通知》(财税[2010]83号,2010年9月21日);

10. 《国家税务总局关于股权激励有关个人所得税问题的通知》(国税函[2009]461号,2009年8月24日);

11. 《财政部、国家税务总局关于上市公司高管人员股票期权所得缴纳个人所得税有关问题的通知》(财税〔2009〕40号,2009年5月4日);

12. 《财政部、国家税务总局关于股票增值权所得和限制性股票所得征收个人所得税有关问题的通知》(财税[2009]5号,2009年1月7日);

13. 《国家税务总局关于个人股票期权所得缴纳个人所得税有关问题的补

充通知》(国税函[2006]902号,2006年9月30日);

14. 《财政部关于<公司法>施行后有关企业财务处理问题的通知》(财企[2006]67号,2006年3月15日);

15. 《财政部、国家税务总局关于个人股票期权所得征收个人所得税问题

的通知》(财税[2005]35号,2005年3月28日)。

(六) 全国中小企业股份转让系统的相关要求

1. 《关于<非上市公众公司监管问答——定向发行(二)>适用有关问题的通知》(2015年12月17日);

2. 《非上市公众公司监管问答——定向发行(二)》(2015年11月24日);

3. 《非上市公众公司监管问答——定向发行(一)》(2015年7月2日);

4. 《挂牌公司股票发行审查要点》(《挂牌公司股票发行审查要点》、《挂牌公司股票发行文件模板》、《挂牌公司股票发行常见问题解答--股份支付》,2015年5月29日);

5. 《全国中小企业股份转让系统业务规则(试行)(2013修改)》(股转系统公告[2013]40号,2013年12月30日);

6. 《全国中小企业股份转让系统投资者适当性管理细则(试行)》(股转系统公告[2013]41号2013年12月30日);

7. 《全国中小企业股份转让系统股票发行业务细则(试行)》(股转系统公告[2013]49号2013年12月30日);

8. 《全国中小企业股份转让系统股票发行业务指引第1号——备案文件的内容与格式(试行)》(股转系统公告[2013]50号2013年12月30日);

9. 《全国中小企业股份转让系统票发行务指引第2号——股票发行方案及情况报告书的内容与格式(试行)》(股转系统公告[2013]51号2013年12月30日);

10. 《全国中小企业股份转让系统股票发行业务指引第3号——主办券商关于股票发行合法合规性意见的内容与格式(试行)》(股转系统公告[2013]52号2013年12月30日);

11. 《全国中小企业股份转让系统股票发行业务指引第4号——法律意见书的内容与格式(试行)》(股转系统公告[2013]53号2013年12月30日);

12. 《全国中小企业股份转让系统股票发行业务指南》(2013年12月30日)。

(七) 金融类企业实施股权激励的相关规定

1. 《财政部、中国人民银行、银监会、证监会、保监会关于规范金融企业内部职工持股的通知》(财金〔2010〕97号,2010年9月15日);

2. 《关于金融类国有和国有控股企业负责人薪酬管理有关问题的通知》(财金[2009]2号,2009年1月13日)。

(八) 其他

1. 《中华全国律师协会律师办理风险投资与股权激励业务操作指引》。

二、非上市公司股权激励计划方案的主要内容

(一) 股权激励计划的目的

不同公司基于其行业领域地位和所处的发展阶段,股权激励计划的目的是不同的,无论不同点有多少,各个公司始终保持着实施股权激励的最终目的,那就是促进公司业绩增长。

(二) 股权激励计划的管理机构

公司股东大会作为公司的最高权力机构,负责审议批准股权激励计划的实施、变更和终止。

公司董事会是股权激励计划的执行管理机构,负责拟定股权激励计划并提交股东大会审议通过;公司董事会根据股东大会的授权办理股权激励计划的相关事宜。如果公司董事会下设了薪酬委员会,薪酬委员会也可以做为具体的管理机构。

公司监事会是股权激励计划的监督机构,负责核实激励对象名单,并对本股权激励计划的实施是否符合相关法律法规及《公司章程》进行监督。

根据“4号文”第三十三条、三十四条规定,国有科技型企业实施股权激励,应当及时就拟订股权激励方案听取职工意见和建议,并将相关股权激励方案报送履行出资人职责或国有资产监管职责的部门、机构、企业审批。

(三) 激励对象的范围和确认依据

1. 激励对象的范围

参考《财政部、科技部关于印发<中关村国家自主创新示范区企业股权和分红激励实施办法>的通知》第四条规定:“激励对象应当是重要的技术人员和企业经营管理人员,包括以下人员:(一)对企业科技成果研发和产业化做出突出贡献的技术人员,包括企业内关键职务科技成果的主要完成人、重大开发项目的负责人、对主导产品或者核心技术、工艺流程做出重大创新或者改进的主要技术人员,高等院校和科研院所研究开发和向企业转移转化科技成果的主要技术人员。(二)对企业发展做出突出贡献的经营管理人员,包括主持企业全面生产经营工作的高级管理人员,负责企业主要产品(服务)生产经营合计占主营业务收入(或者主营业务利润)50%以上的中、高级经营管理人员。企业不得面向全体员工实施股权或者分红激励。企业监事、独立董事、企业控股股东单位的经营管理人员不得参与企业股权或者分红激励。”

参考《上市公司股权激励有关事项备忘录1号》第二条规定:“持股5%以上的主要股东或实际控制人原则上不得成为激励对象。除非经股东大会表决通过,且股东大会对该事项进行投票表决时,关联股东须回避表决。持股5%以上的主要股东或实际控制人的配偶及直系近亲属若符合成为激励对象的条件,可以成为激励对象,但其所获授权益应关注是否与其所任职务相匹配。同时股东大会对该事项进行投票表决时,关联股东须回避表决。”

参考《上市公司股权激励有关事项备忘录2号》第“一、1”条规定,“···为确保上市公司监事独立性,充分发挥其监督作用,上市公司监事不得成为股权激励对象。”

根据“4号文”第七条规定,重要技术人员的依据具体包括:“(一)关键职务科技成果的主要完成人,重大开发项目的负责人,对主导产品或者核心技术、工艺流程做出重大创新或者改进的主要技术人员。……(三)通过省、部级及以上人才计划引进的重要技术人才……。”

第十三条条第二款规定,“股权奖励的激励对象,仅限于在本企业连续工作3年以上的重要技术人员。”

第三十一条规定,“对同一激励对象就同一职务科技成果或者产业化项目,企业只能采取一种激励方式、给予一次激励。对已按照本办法实施股权激励的激励对象,企业在5年内不得再对其实施股权激励。

综合前述,非上市公司的激励对象包括公司董事、高级管理人员、核心技术(业务)人员和公司认为应该激励的其他员工,但独立董事、公司监事和公司控股股东、持股5%以上的经营管理人员一般应除外,国有科技型企业工作人员就同一职务科技成果或产业化项目只能采取一种激励方式、给予一次激励,5年内不能再对其实施股权激励。

2. 确认依据

一般企业会根据公司业绩条件、个人绩效考核与业绩目标以及工作年限等因素作为激励对象确认依据。而参考“4号文”第十七条规定,国有科技型企业业绩考核指标确认依据如下:“企业应当与激励对象约定股权期权授予和行权的业绩考核目标等条件。业绩考核指标可以选取净资产收益率、主营业务收入增长率、现金营运指数等财务指标,但应当不低于企业近3年平均业绩水平及同行业平均业绩水平。成立不满3年的企业,以实际经营年限计算。”

(四) 股权激励的模式

股 权激励的模式一般分为两大类别,即权益结算类和现金结算类。权益结算类中的常用模式包括股权期权、限制性股权、业绩股票、员工持股计划等,这种激励方式的 有点是激励对象可以获得真实股权,公司不需要支付大笔现金,有时还能获得现金流入;缺点是公司股本结构需要变动,原股东持股比例可能会稀释。现金结算类中 的常用模式包括股权增值权、虚拟股权计划、业绩单元、利润分享计划等,其优点是不影响公司股本结构,原有股东股权比例不会造成稀释。缺点是公司需要以现金形式支付,现金支付压力较大。而且,由于激励对象不能获得真正的股份,对员工的激励作用有所影响。从我国现行法律规定和实践操作来看,限制性股权、股权期权和股权增值权激励是上市公司股权激励计划的主要模式,非上市公司也可以借鉴并改造为适合其自身的股权激励方式。

1.限制性股权

公司按照预先确定的条件事先授予激励对象一定数量的公司股权,激励对象只有在预先确定的条件成就后,才可真正享有被授予的股权并从中获益;如预先确定的条件到期不成就,公司有权将授予的股权收回。

2.股权期权

公司授予激励对象在未来一定期限内以预先确定的行权价格和条件购买本公司一定数量股份的权利。

行 权条件一般就包括三个方面:一是公司方面,如公司要达到的预定的业绩;二是等待期方面,授予期权后需要等待的时间;三是激励对象自身方面,如通过考核并没 有违法违规事件等。行权条件成熟后,激励对象有选择行权或不行权的自由。股权期权有效期过后,已授出但尚未行权的期权不得行权。

3.股权增值权

公司授予激励对象在一定的时期和条件下,获得规定数量的股权价格上升所带来的收益的权利。股权激励对象不拥有这些股权的所有权,也不拥有股东表决权、配股权。

股 权增值权模式中激励对象最终并不实际享有股权,不会增加股东,因此不会对公司股权结构产生稀释;激励对象也无需出资购买,故而对授予对象成本压力较小。这 一方式类似于虚拟股权计划,二者的区别在于股权增值没有分红的权利。这一模式比较适合现金流量比较充裕且比较稳定的非上市公司。

上述股权激励模式同样适用于国有科技型企业,但根据“4号文”第九条第二款规定,“大、中型企业不得采取股权期权的激励方式。”

(五) 标的股权的来源、数量

1.标的股权的来源

根据《财政部、科技部关于印发<<>中关村国家自主创新示范区企业股权和分红激励实施办法>的通知》第十六条规定:“第十六条企业可以通过以下方式解决标的股权来源:(一)向激励对象增发股份。(二)向现有股东回购股份。(三)现有股东依法向激励对象转让其持有的股权。”

(1)向激励对象增发股份

面向激励对象增发股份,在非上市公司中并不存在法律障碍,但要符合公司法关于股东上限的规定,其中有限责任公司股东上限为五十人,股份有限公司股东上限为二 百人。如果激励对象超过该限制,可以由激励对象集合资金注册新公司由新公司向目标公司增加注册资本,从而实现激励对象的间接持股,但股转系统挂牌公司不得 适用前述方式实现激励对象的间接持股。根据《非上市公众司监管问答——定向发行(二)》的有关规定,为保障股权清晰、防范融资风险,单纯以认购股份为目的 而设立的公司法人、合伙企业等持股平台,不具有实际经营业务的,不符合投资者适当性管理要求,不得参与非上市公众公司的股份发行。因此,股转系统挂牌公司 不得为规避实施激励后股东人数超过200人而设立员工持股平台(公司或合伙企业)认购发行股份。

另外,按照《公司法》第三十四条规定,有限责任公司新增资本时,股东有权优先按照其实缴的出资比例认缴出资;按照《全国中小企业股份转让系统股票发行业务细则(试行)》第八条规定,挂牌公司股票发行以现金认购的,公司现有股东在同等条件下对发行的股票有优先认购权。公司现有股东可以采取如下方式放弃该等权利:a、公司章程规定,在章程中明确股东对用于股权激励的新增资本不享有优先认购权。b、公司股东会就股权激励事项单独表决放弃优先权。c、公司现有股东出具放弃优先认购的承诺函。相比较而言,a项所列方式更具有稳定性,有利于解决公司股东的协调性,避免事后决议可能造成股东间分歧。

(2)向现有股东回购股份

根据我国《公司法》规定,公司回购自己股份用于奖励职工应遵循以下规则:回购事项应当经股东大会决议,且应将所收购的股份应当在一年内转让给职工;收购的本公司股份,不得超过本公司已发行股份总额的5%;注意回购的基数是应当是发行股份而不是实缴资本;在回购的资金来源上,用于收购的资金应当从公司的税后利润中支出。

同时,根据《财政部关于<<>公司法>施 行后有关企业财务处理问题的通知》第三条,第二款规定:“(二)因实行职工股权激励办法而回购股份的,回购股份不得超过本公司已发行股份总额的百分之五, 所需资金应当控制在当期可供投资者分配的利润数额之内。股东大会通过职工股权激励办法之日与股份回购日不在同一年度的,公司应当于通过职工股权激励办法 时,将预计的回购支出在当期可供投资者分配的利润中作出预留,对预留的利润不得进行分配。”

(3)现有股东依法向激励对象转让其持有的股权

现有股东将自己的股份无偿赠予激励对象,并依据公司注册登记管理条例、《股份赠予合同》等规定进行股份过户,受赠人自过户登记日取得公司股份及其对应的收益权利。

现有股东将自己持有的股份有偿出让给激励对象。激励对象在支付相应对价后,依据股权出让合同、公司登记管理条例办理过户登记,自过户登记之日起享有股份权益。

2.标的股权的数量

《上市公司股权激励管理办法》第十二条规定:“上市公司全部有效的股权激励计划所涉及的标的股票总数累计不得超过公司股本总额的10%。非经股东大会特别决议批准,任何一名激励对象通过全部有效的股权激励计划获授的本公司股票累计不得超过公司股本总额的1%。”

《中关村科技园区管理委员会关于中关村国家自主创新示范区股权激励改革试点工作若干问题的解释》第四条规定,“非上市公司期权授予额度,可参照《上市公司股权激励管理办法》(证监公司字[2005]151号)中第十二条规定执行,即公司全部有效的股权激励计划所涉及标的股权总数累计不得超过公司股本总额的10%;非经股东(大)会特别决议批准,任何一名激励对象通过全部有效的股权激励计划获授的本公司股份累计不得超过公司股本总额的1%。”

“4号文”第十条规定:“大型企业的股权激励总额不超过企业总股本的5%;中型企业的股权激励总额不超过企业总股本的10%;小、微型企业的股权激励总额不超过企业总股本的30%,且单个激励对象获得的激励股权不得超过企业总股本的3%。企业不能因实施股权激励而改变国有控股地位。”

“4号文”第十三条规定:“企业用于股权奖励的激励额不超过近3年税后利润累计形成的净资产增值额的15%。企业实施股权奖励,必须与股权出售相结合。……单个获得股权奖励的激励对象,必须以不低于1:1的比例购买企业股权,且获得的股权奖励按激励实施时的评估价值折算,累计不超过300万元。”

就非上市公司而言,法律法规未对标的股权数量作出统一、明确的规定,只要股东会、股东大会通过即可。一般建议参照《中关村科技园区管理委员会关于中关村国家自主创新示范区股权激励改革试点工作若干问题的解释》和《上市公司股权激励管理办法》规定,激励计划涉及的标的股权数量以不超过公司股本总额10%,个人获授的标的股权数量以不超过公司股本总额1%为宜。而按《关于印发统计上大中小微型企业划分办法的通知》(国统字〔2011〕75号)划分为大型、中型、小微型的国有科技型企业,分别设定了不得超过各自类型企业总股本5%、10%、30%的限制。

(六) 股权激励资金的来源

1.限制性股权和股权期权的资金来源

这两种股权激励方式的资金来源除公司或老股东无偿转让股份外,股权激励对象也需要支付一定的资金来受让该部分股权。根据资金来源方式的不同,可以分为以下几种:

(1) 激励对象的自有资金

在 实施股权激励计划时,激励对象是以自有资金购入对应的股份,在以自有资金购入的模式下,出让方与受让方签订《股权转让协议》并约定转让价款的支付与结算。 实践中,由于员工的支付能力通常都不会很高,因此,需要采取一些变通的方法,比如,在股权转让中采取分期付款的方式,而在增资中则可以分期缴纳出资或者由 大股东提供担保。但《上市公司股权激励管理办法(试行)》和“4号文”均规定,上市公司、国有科技型企业不得为激励对象依股权激励计划获取有关权益提供贷 款以及其他形式的财务资助,包括为激励对象向其他单位或者个人贷款提供担保。

(2) 提取激励基金

激励基金主要用于激励公司职工,或作为公司管理人员履行职务的风险基金来源。因此,为了支持股权激励制度的实施,公司可以建立相应基金专门用于股权激励计划。公司从税后利润中提取法定公积金后,经股东会或者股东大会决议,还可以从税后利润中提取任意公积金用于股权激励。

参 考《股权激励有关事项备忘录1号》第一条关于激励基金提取的规定:“1.如果标的股票的来源是存量,即从二级市场购入股票,则按照《公司法》关于回购股票 的相关规定执行;2.如果标的股票的来源是增量,即定向增发方式取得股票,则(1)提取激励基金应符合现行法律法规、会计准则,并遵守公司章程及相关议事 规程。(2)提取的激励基金不得用于资助激励对象购买限制性股票或者行使股票期权。”

对上市企业而言,激励基金一般用于回购存量股票,回购后的存量股票用于授予激励对象股票期权或限制性股票。

2.股权增值权的资金来源

由于激励对象无需出资购买授予的股权,公司是以现金形式支付,但需要公司根据现金流量情况合理安排股权激励的范围、标准,避免给公司的正常经营造成资金压力。

(七) 股权激励计划的有效期、授权日、可行权日、标的股份的禁售期

1.有效期

《上 市公司股权激励管理办法》第二十二条明确规定:“股票期权授权日与获授股票期权首次可以行权日之间的间隔不得少于1年。股票期权的有效期从授权日计算不得 超过10年”。《中关村科技园区管理委员会关于中关村国家自主创新示范区股权激励改革试点工作若干问题的解释》第四条也作出同样规定。

《财政部、科技部关于印发<中关村国家自主创新示范区企业股权和分红激励实施办法>的通知》第十四条规定:“股票期权授权日与获授股票期权首次可行权日之间的间隔不得少于1年。股票期权行权的有效期不得超过5年。”

“4号文”第十八条第二款规定:“股权期权授权日与获授股权期权首次可行权日之间的间隔不得少于1年,股权期权行权的有效期不得超过5年。”

由于中关村国家自主创新示范区企业是国家进行公司股权激励的试点,对于非上市公司股权激励比较有借鉴意义。

2.授权日

对于非上市公司,法律法规没有明确规定授权日必须避开某些敏感时期,故非上市公司股权激励计划的授权日可以确定在股东会或股东大会审议通过股权激励计划后的合理时间内(上市公司通常为三十日),但限制性股权还应同时满足激励对象达到预先约定的条件。

3.可行权日

对 非上市公司,法律法规尚无明确规定,期权股权的授权日与获授股权首次可行权日的期间,通常称为行权等待期或行权限制期,通过参考《上市公司股权激励管理办 法》第二十二条、二十三条、《财政部、科技部关于印发<中关村国家自主创新示范区企业股权和分红激励实施办法>的通知》第十四条、十五条、 《中关村科技园区管理委员会关于中关村国家自主创新示范区股权激励改革试点工作若干问题的解释》第四条,皆对行权等待期作出不得少于1年规定,且在股票期 权有效期内,企业应当规定激励对象在股票期权行权的有效期内分期行权;股票期权行权的有效期过后,激励对象已获授但尚未行权的股票期权自动失效。

4.标的股份的禁售期

禁 售期是指激励对象获授股权后进行售出等转让行为限制的时间段。《财政部、科技部关于印发<中关村国家自主创新示范区企业股权和分红激励实施办>的通知》第十八条对标的股份禁售期规定如下:“激励对象自取得股权之日起5年内不得转让、捐赠其股权。”“4号文”第二十二条规定:“股权激励 的激励对象,自取得股权之日起,5年内不得转让、捐赠”,实践中,多数公司规定禁售期不少于一年。激励对象(特别是当激励对象为公司董事、高级管理人员 时)禁售期后转让获授股权应遵守《公司法》、《证券法》以及公司章程的相关规定。

(八) 股权价格及价格确定方法

参 考《财政部、科技部关于印发<中关村国家自主创新示范区企业股权和分红激励实施办法>的通知》第二十八条第七款规定:“实施股权激励的,说明 股权出售价格或者股票期权行权价格的确定依据。”因此,在股权激励实施方案中应明确股权价格、股票期权行权价格的确定方法。

1.出售股权价格的确定方法

《中 关村科技园区管理委员会关于中关村国家自主创新示范区股权激励改革试点工作若干问题的解释》第“三、(二)”对出售股权价格规定:“价格系数应当在综合考 虑净资产评估价值、净资产收益率及未来收益等因素的基础上合理确定。出售价格不低于经备案或者核准的企业资产评估值。”

2.限制性股权的授予价格及授予价格的确定方法

对于限制性股权的授权价格,可以以每股净资产的评估价为股权价格的定价基础,在此基础上可以协商。

3.股权期权的行权价格及行权价格的确定方法

参考《中关村科技园区管理委员会关于中关村国家自主创新示范区股权激励改革试点工作若干问题的解释》第四条规定:“非上市公司期权的行权价格以评估后每股净资产作为主要确定依据”。参考“4号文”第十六条规定:“确定行权价格时,应当综合考虑科技成果成熟程度及其转化情况、企业未来至少5年的盈利能力、企业拟授予全部股权数量等因素,且不低于制定股权期权激励方案时经核准或者备案的每股评估价值。”

因此,股权期权行权价格的确定还应综合激励对象实现业绩考核指标的程度、公司在股权激励计划有效期乃至有效以后的盈利能力、公司拟授予全部股权数量等因素,以不低于每股净值产的评估价为宜。

(九)激励对象获授权益、行权的条件

参 考《上市公司股权激励管理办法》第九条规定,激励对象为董事、监事、高级管理人员的,公司应当建立绩效考核体系和考核办法,以绩效考核指标为实施股权激励 计划的条件,但公司业绩条件、个人绩效考核与业绩目标、工作年限、不得存在损害公司利益的情形等,可单独制定《股权激励计划考核办法》来确定授予股权及行 权的条件。

(十) 公司授予权益及激励对象行权的一般程序

1.股权激励计划批准流程

(1) 公司股权激励计划(草案)由董事会薪酬与考核委员会(如设立)负责拟定;

(2) 方案中涉及的财务数据和资产评估价值,由于与股权价格的确定相关,应选择具有相关资质的会计师事务所和资产评估机构;

(3) 董事会审议股权激励计划(草案);

(4) 监事会核查获授标的股权的激励对象名单(但如果是股转系统挂牌公司,考虑到激励对象需要满足股权系统对投资者适当性的相关要求,当激励对象为核心员工时, 核心员工的认定需要由董事会提名,并向全体员工公示和征求意见,由监事会发表明确意见后,经股东大会审议批准);

(5) 股东会或股东大会对股权激励计划(草案)进行表决。

2.股权激励计划实施流程

(1) 根据激励计划与激励对象签订《股权激励协议》(但如果是股转系统挂牌公司以定向发行股票的方式进行股权激励,则该股票认购协议应在董事会召开前签署,董事会、股东大会审议通过后生效);

(2) 向激励对象授予股权,进行登记;

(3) 激励对象认为对获授股权行使相应权利的条件成就,向公司提出申请;

(4) 如董事会审核确认条件成就且不存在相关规定及公司股权激励方案中规定的不得激励对象或禁止行权的情形,激励对象可按照股权激励计划的规定行权;如果董事会认为条件不成就,激励对象不能依计划行权;

(5) 如公司实施股权激励计划导致注册资本规模、股权结构或组织形式等发生变动的,应到公司注册地的工商局进行工商变更登记手续。

(十一)公司与激励对象各自的权利义务

1.公司的权利和义务

激励对象未达到公司绩效考核指标,或在任何情况下,激励对象有触犯法律、违反职业道德、泄露公司机密、失职或渎职等行为严重损害公司利益或声誉的行为发生的,公司有权收回激励对象所获授的股权。  

2.激励对象的权利义务

(1)激励对象应当遵守公司法和公司章程的相关规定,勤勉尽责、恪守职业道德。

(2)激励对象通过限制性股权和股权期权方式获授股权的,应当按期足额缴纳相应出资。

(3)激励对象有权按照公司股权激励计划的规定行权,但限制性股权在禁售期内、股权期权在行权日前不得转让、用于担保或偿还债务。

(十二)特殊事项时股权激励计划的退出

1.公司发生控制权变更、合并、分立

参考《股权激励有关事项备忘录3号》第四条、《创业板信息披露业务备忘录第8号》、《创业板信息披露业务备忘录第9号》第11条规定,股权激励计划中不得设置上市公司发生控制权变更、合并、分立等情况下激励对象可以加速行权或提前解锁的条款。

2.员工自身原因

(1)聘任合同期限届满;

(2)员工在聘任期限届满前,被解聘、辞职、离职;员工被宣告死亡、死亡等。

参考《财政部、科技部关于印发<<>中关村国家自主创新示范区企业股权和分红激励实施办法>的通知》第十八条规定:“激励对象获得股权激励后5年内本人提出离职,或者因个人原因被解聘、解除劳动合同,取得的股权全部退回企业,其个人出资部分由企业按审计后净资产计算退还本人;以股票期权方式实施股权激励的,未行权部分自动失效。”

参考“4号文”第二十二条规定:“因本人提出离职或者个人原因被解聘、解除劳动合同,取得的股权应当在半年内全部退回企业,其个人出资部分由企业按上一年度审计后净资产计算退还本人。

因公调离本企业的,取得的股权应当在半年内全部退回企业,其个人出资部分由企业按照上一年度审计后净资产计算与实际出资成本孰高的原则返还本人。”

股权激励计划退出的渠道有以下几种:公司回购、股东内部交易、在其他股东放弃优先受让权的情况下向外部转让。

(十三)股权激励计划的变更、终止

参 考《上市公司股权激励管理办法》第三十七条规定:“股东大会应当对股权激励计划中的如下内容进行表决:(八)股权激励计划的变更、终止;股东大会就上述事 项作出决议,必须经出席会议的股东所持表决权的2/3以上通过。”因出现特殊情形需要调整或终止股权激励计划的,应当经董事会决议并经股东会审议批准,且 必须经出席会议的股东所持表决权的2/3以上通过。 

三、股权激励所涉税务、会计问题

(一)激励对象缴纳个人所得税的问题

上 市公司股权激励所得依据《国家税务总局关于股权激励有关个人所得税问题的通知》第一条 “个人因任职、受雇从上市公司取得的股票增值权所得和限制性股票所得,由上市公司或其境内机构按照‘工资、薪金所得’项目和股票期权所得个人所得税计税方 法,依法扣缴其个人所得税”的规定需扣缴个人所得税。

非上市公司实施股权激励也需要考虑到激励对象的个人所得税缴纳问题。《中华人民共和国个人所得税法》第二条规定:“下列各项个人所得,应纳个人所得税:一、工资、薪金所得···”;《中华人民共和国个人所得税法实施条例》第“八、(一)”条规定:“工资、薪金所得,是指个人因任职或者受雇而取得的工资、薪金、奖金、年终加薪、劳动分红、津贴、补贴以及与任职或者受雇有关的其他所得。”《中华人民共和国个人所得税法实施条例》第十条规定:“个人所得的形式,包括现金、实物、有价证券和其他形式的经济利益。···所得为有价证券的,根据票面价格和市场价格核定应纳税所得额。”

(二)实施股权激励企业的企业所得税处理

根 据《关于我国居民企业实行股权激励计划有关企业所得税处理问题的公告》(国家税务总局公告2012年第18号)的规定,非上市公司比照上市公司实行股权激 励计划的,且按我国企业会计准则的有关规定,在股权激励计划授予激励对象时,按照该股票的公允价格及数量,计算确定作为公司相关年度的成本或费用,作为换 取激励对象提供服务的对价。上述企业建立的职工股权激励计划,其企业所得税的处理,按以下规定执行:

1.对股权激励计划实行后立即可以行权的,公司可以根据实际行权时该股票的公允价格与激励对象实际行权支付价格的差额和数量,计算确定作为当年公司工资薪金支出,依照税法规定进行税前扣除。

2. 对股权激励计划实行后,需待一定服务年限或者达到规定业绩条件(以下简称“等待期”)方可行权的。公司等待期内会计上计算确认的相关成本费用,不得在对应 年度计算缴纳企业所得税时扣除。在股权激励计划可行权后,公司方可根据该股票实际行权时的公允价格与当年激励对象实际行权支付价格的差额及数量,计算确定 作为当年公司工资薪金支出,依照税法规定进行税前扣除。

(三)股份支付所涉会计处理问题

根据《挂牌公司股票发行常见问题解答——股 份支付》的有关规定,当股转系统挂牌公司存在“向公司高管、核心员工、员工持股平台或者其他投资者发行股票的价格明显低于市场价格或者低于公司股票公允价 值”、“股票发行价格低于每股净资产”、“发行股票进行股权激励的”等情形时,应按照《企业会计准则第11号——股份支付》的规定,结合股票发行的对象、 发行的目的、股票的公允价值和发行的价格,判断是否需要适用股份支付。

根 据《企业会计准则第11号—股份支付》第二条规定:“股份支付,是指企业为获取职工和其他方提供服务而授予权益工具或者承担以权益工具为基础确定的负债的 交易。股份支付分为以权益结算的股份支付和以现金结算的股份支付。其中,以权益结算的股份支付,是指企业为获取服务以股份或其他权益工具作为对价进行结算 的交易。”公司实施股权激励存在为获取员工服务而向员工授予公司股票的情形,属于以权益结算的股份支付,应适用《企业会计准则第11号—股份支付》进行账 务处理。

1.确定公司股票的公允价值

根 据《企业会计准则第11 号—股份支付》第四条规定:以权益结算的股份支付换取职工提供服务的,应当以授予职工权益工具的公允价值计量。股转系统挂牌公司股票的公允价值,可参考如 下情形进行判断:a.有活跃交易市场的,应当以市场价格为基础,并考虑波动性;b.无活跃交易市场的,可以参考如下价格:

(1)采用估值技术。估值方法应当符合《企业会计准则第22号——金融工具确认和计量》的有关规定确定权益工具的公允价值,并根据股份支付协议的条款的条件进行调整。可以使用的估值方法包括现金流折现法、相对价值法以及其他合理的估值方法,也可聘请估值机构出具估值报告。

(2)参考同期引入外部机构投资者过程中相对公允的股票发行价格,发行价格不公允的除外,例如,由于换取外部投资者为企业带来的资源或其他利益而确定了不合理的发行价格应当被排除掉。

2.适用股份支付的账务处理

(1) 根据《企业会计准则第11 号—股份支付》第五条规定,授予后立即可行权的换取职工服务的以权益结算的股份支付,应当在授予日按照权益工具的公允价值计入相关成本或费用,相应增加资 本公积。即,当激励对象授予股票后即可行权,无服务年限、业绩要求、回购条款等其他限制条款时,发行价格与公允价值的差额 [(股票公允价格-发行价格)*发行股数]应计入公司当期成本费用。

(2) 根据《企业会计准则第11 号—股份支付》第六条规定,完成等待期内的服务或达到规定业绩条件才可行权的换取职工服务的以权益结算的股份支付,在等待期内的每个资产负债表日,应当以 对可行权权益工具数量的最佳估计为基础,按照权益工具授予日的公允价值,将当期取得的服务计入相关成本或费用和资本公积。即,当激励对象被授予的股票属于 一次授予、分期行权的限制性股票时,公司股票发行的股权激励成本需在等待期内分摊。

基于上述,拟将申请A股上市的公司在制定股权激励方案时,要综合考虑申报上市的进程、股份支付对报告期内损益的影响、公司其他股权转让价格以及私募融资价格等因素;股转系统挂牌公司则要在与定向发行的相关文件中判断是否需要适用股份支付并说明具体的账务处理方法。

四、金融企业实施股权激励应特别关注的问题

《财 政部、中国人民银行、银监会、证监会、保监会关于规范金融企业内部职工持股的通知》(财金〔2010〕97号)第二条第(四)款规定,在规范金融企业存量 内部职工持股的基础上,互助合作性质金融企业的内部职工持股,可继续按照现有规定执行;其他金融企业应根据实施股权激励的有关规定,进一步完善激励约束机 制,探索实施员工持股计划。股权激励的具体办法另行制定。据此,金融企业实施股权激励计划系金融企业建立合理激励约束体系的重要内容,属于相关主管部门和 监管机构支持引导并鼓励探索的事项之一。

但 根据《关于金融类国有和国有控股企业负责人薪酬管理有关问题的通知》(财金[2009]2号)规定,在国家对金融企业股权激励和员工持股政策公布之前,各 国有及国有控股金融企业不得实施股权激励或员工持股计划。据此,因缺乏政策及具体实施办法,金融企业实施股权激励计划在实践操作方面仍面临一定障碍。

五、律师从事非上市公司股权激励项目的工作事项

律师从事非上市公司股权激励项目主要工作包括:

1.根据公司的实际需求,草拟、修订股权激励计划及与实施股权激励配套的管理办法、考核办法等;

2.草拟股权激励项目所涉股东(大)会、董事会、监事会、职工(代表)大会会议文件;

3.进行股权激励对象的股东确权工作,内容包括核查激励对象适格性、激励对象认购资金来源、有无代持安排等;

4.草拟激励对象所应签署的相关声明及承诺文件,并见证激励对象的签署过程,已确认激励对象的认购意愿以及其自身对激励对象权利义务已明确知悉;

5.为公司审议股权激励相关议案的董事会、监事会、员工大会、股东大会提供见证服务,以确保相关会议召集、召开的合规性及会议决议的有效性;

6. 根据项目需求出具法律意见书,如“4号文”第三十五条规定:“审核单位应当严格审核企业申报的激励方案,必要时要求企业法律事务机构或者外聘律师对激励方 案出具法律意见书,对以下事项发表专业意见:(一)激励方案是否符合有关法律、法规和本办法的规定。(二)激励方案是否存在明显损害企业及现有股东利益的 情形。(三)激励方案是否充分披露影响激励结果的重大信息。(四)激励方案可能引发的法律纠纷等风险,以及应对风险的法律建议。(五)其他重要事项。”

7.律师从事股转系统挂牌公司股权激励项目时,通常会涉及定向发行业务。此时律师从事股权激励工作还应根据《全国中小企业股份转让系统股票发行业务指引》、《非上市公众公司监管问答——定向发行》等相关规定开展其他核查工作,并就股票发行合规性出具法律意见书。

本文仅为我们对相关法律法规的一般解读,不能作为正式法律意见和建议,如果您有特定的问题,请与观韬律师事务所联系咨询事宜。


作者简介:

刘燕迪是观韬律师事务所国内公司证券部的合伙人及大连办公室负责人,刘律师的主要执业领域涵盖资本市场、金融证券等法律事务。(Email: lyd@guantao.com)

潘晓黎系观韬大连办公室金融证券部律师。(Email: pxl@guantao.com)

毕晓东系观韬大连办公室金融证券部律师。(Email: bxd@guantao.com)


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