Haiping Li focuses on corporate finance transactions; cross-border mergers, acquisitions and investments; and other general corporate matters.

She has extensive experience in advising foreign private issuers, U.S. domestic issuers, selling shareholders, underwriters, initial purchasers in U.S. capital market transactions, including SEC-registered initial public offerings and follow-on equity and debt offerings, Rule 144A/Regulation S private placements, 1934 Act compliance and filings. She has advised U.S. public companies in mergers, acquisitions, business combinations, investments and dispositions. She has also advised companies on financings from private investors prior to, in connection with and after their initial public offerings in the U.S., and advised financial and strategic investors on investments in companies in various industries in China and the U.S.

Ms. Li was named one of China’s “Rising Lawyers” by Asian Legal Business in 2015.

Ms. Li’s recent capital market experience includes:

Issuers in initial public offerings: representing companies out of China in NYSE/NASDAQ initial public offerings of American depositary shares, including:

• Momo Inc., a revolutionary mobile-based social networking platform;
• Jumei International Holding Limited, China’s No. 1 online retailer of beauty products;
• JD.com, Inc., the largest online direct sales company in China;
• Yahoo! Inc. and Yahoo Hong Kong, selling shareholders in the initial public offering of Alibaba Group Holdings Limited;
• Xunlei Limited, a leading Chinese internet company;
• Tuniu Corporation, a leading online leisure travel company in China;
• Weibo Corporation, a leading social media platform;
• 58.com Inc., the largest online marketplace serving local merchants and consumers in China;
• YY Inc., a revolutionary rich-communication social platform;
• Vipshop Holdings Limited, the leading online discount retailer for brands in China;
• Youku Tudou Inc., China’s leading internet television company;
• E-Commerce China Dangdang Inc., a leading business-to-consumer e-commerce company in China;
• Renren Inc., the leading operator of real-name social networking internet platform in China;
• NQ Mobile Inc., a leading global provider of mobile internet services;
• RDA Microelectronics Inc., a leading China-based fabless semiconductor company;
• Noah Holdings Limited, a leading wealth management service provider in China; and
• Daqo New Energy Corp., a leading solar polysilicon manufacturer in China.

Public company representations:

• Ctrip.com International Ltd., a NASDAQ-listed leading travel service provider in China, in its public offerings of equity and convertible debt securities;
• Baidu, Inc., a NASDAQ-listed leading Chinese-language internet search provider, in its public offerings of debt securities; and
• 58.com Inc., YY Inc., Youku Tudou Inc. and Vipshop Holdings Limited in their respective public offerings of equity and convertible debt securities; and U.S. public companies in their U.S. securities law compliance, corporate governance and periodic reporting.

Underwriter and initial purchaser representations:

• Morgan Stanley, Citibank and Merrill Lynch in the follow-on offering and NYSE initial public offering of the largest provider of online education in China;
• Morgan Stanley, BofA Merrill Lynch, Credit Suisse and Jefferies in the follow-on offerings of a leading plasma-based biopharmaceutical company in China;
• Credit Suisse and Merrill Lynch in the NASDAQ initial public offering of a mobile-based out-of-home advertising network in China;
• Merrill Lynch and UBS in the NYSE initial public offering of a vertically integrated specialty pharmaceutical company;
• Credit Suisse and Goldman Sachs in the proposed NYSE initial public offering of a leading vocational IT education provider in China;
• JP Morgan and UBS in the Rule 144A private placement and HKEX initial public offering of a leading manufacturer of plastic pipes and pipe fittings in China, and the follow-on offering of high-yield debt securities; and
• Morgan Stanley and Deutsche Bank in the proposed NASDAQ initial public offering of a leading provider of mobile email solutions in China.

Ms. Li’s recent M&A and private equity experience includes:

Company representations:

• Ctrip.com International Ltd. (NASDAQ);
  • in its partnership with The Priceline Group Inc. (NASDAQ), the world’s largest online travel service provider, and The Priceline Group’s US$750 million investments in Ctrip.com through convertible bonds;
  • in its acquisition of a strategic stake in eLong, Inc. (NASDAQ) from Expedia, Inc. (NASDAQ) and other selling shareholders, and its business cooperation agreement with Expedia;
  • in its strategic partnership with Royal Caribbean Cruises Ltd. (NYSE), a leading global cruise company, through Skysea Cruises, a joint venture that is designed to serve the Chinese cruise market;
  • in its strategic investment in Travelfusion, a U.K.-based leading online Low Cost Carrier (LCC) travel content aggregator and innovator of Direct Connect global distribution solutions;
  • in its purchase of a business segment from Wing On International Holdings Limited, a HKEX-listed conglomerate; and
  • in its various investments in travel service-related businesses in China, the United States and the United Kingdom;
• 58.com Inc. (NYSE);
  • in its acquisition of a strategic stake in Ganji.com, a major online local services marketplace platform in China, for $1.6 billion in cash and 58.com’s newly issued shares;
  • in strategic partnership with Tencent Holdings Limited (HKEX), a leading provider of comprehensive Internet services in China, and Tencent’s US$736 million investment in 58.com Inc.; and
  • in its acquisition of Anjuke, a major online real estate listing platform in China, to create China’s largest online secondary real estate platform;
• Dianping Holdings Limited, China’s leading online-to-offline local services platform, in its multibillion issuance and sale of preferred shares to investors, including Tencent;
• Kingsoft (HKEX) and Xiaomi in their investments in 21Vianet (NASDAQ), a leading carrier-neutral Internet data center services provider in China;
• Bitauto Holdings Limited (NYSE), a leading provider of internet content and marketing services for China’s fast-growing automotive industry, in its US$1.3 billion investments from and strategic partnership with JD.com (NASDAQ) and Tencent;
• Youku Tudou Inc. (NYSE, formerly known as Youku Inc.) in its acquisition through a merger and taking-private transaction of Tudou Holdings Limited (NASDAQ);
• Noah Holdings Limited (NYSE), in its private placement of convertible bonds; and
• E-House (China) Holdings Limited (NYSE) in its acquisition through a merger and taking-private transaction of China Real Estate Information Corporation (NASDAQ), a majority subsidiary of E-house prior to the merger.

Fund representation:

• Hillhouse Capital, TPG, New Bridge, Sequoia Capital China, Chengwei Capital,SAIF Partners, GSR Ventures, DT Capital and Merrill Lynch private equity funds in their various investments in private and public companies with businesses in China.

Ms. Li is a native speaker of Mandarin and Shanghainese, and is fluent in English.

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