On November 28, 2025, Landing Law Offices assisted in the successful issuance of the “2025 First Tranche Private Placement Technology Innovation Bond of Shanghai Daohe Long-Term Investment Management Co., Ltd.” (the “Sci-Tech Innovation Bond”) in the interbank bond market. This issuance marks Shanghai’s first successfully issued “Sci-Tech Innovation Bond” by a private equity investment institution.

The underlying product of this Sci-Tech Innovation Bond is a Private Placement Note (PPN), exclusively underwritten by Shanghai Rural Commercial Bank. The bond was issued in the amount of RMB 30 million with a term of five years. In addition, China Bond Insurance Co., Ltd. provided market-oriented credit enhancement by offering an irrevocable joint and several liability guarantee for the repayment of both principal and interest of the bond.

As the issuer of this Sci-Tech Innovation Bond, Shanghai Daohe Long-Term Investment Management Co., Ltd. was established in April 2020. It is the first private fund manager in Shanghai specializing in private asset allocation, and currently the only private asset allocation fund manager of its kind in the Shanghai region. The company has long focused on investment布局 in technology innovation sectors such as integrated circuits, new energy and advanced materials, and AI applications. The successful issuance of this Sci-Tech Innovation Bond reflects the high level of recognition from both the market and regulatory authorities regarding the company’s operational compliance, credit standing, and professional capabilities.

Landing Law Offices acted as the special legal counsel for the project and designated lawyers including Li Jinchang and Li Ying to provide comprehensive, professional, and efficient legal services for the registration and issuance of the Sci-Tech Innovation Bond.

Landing Law Offices will continue to uphold its philosophy of “Absolute Professionalism” and remain committed to delivering high-quality professional legal services to its clients.

Lawyer Profiles

Li Jinchang

Partner, Landing Law Offices

Practice Areas:

Asset securitization, debt financing instruments, financial leasing, and other quasi-financial matters.

Contact Information:

Email: jinchang.li@landinglawyer.com

Phone: +86 18301766881

Li Ying

Lawyer, Landing Law Offices

Practice Areas:

Corporate finance and mergers & acquisitions, film and cultural industries, and dispute resolution.

Contact Information:

Email: ying.li@landinglawyer.com

Phone: +86 15900906981