The agreement-based transfer of 6 million A shares in Shang Gong Group Co., Ltd. (hereinafter referred to as "Shang Gong") proposed by its controlling shareholder, managed by AllBright Law Offices, has been approved by the State-owned Assets Supervision and Administration Commission (SASAC) of the State Council, and was granted with the Transfer Confirmation Certificate issued by China Securities Depository and Clearing Corporation Limited on Dec 29, 2016. It is the first market-oriented reform of state-owned listed companies in Shanghai conducted through the "mixed ownership reform" program.

As the dedicated counsel engaged by the leading party of the project – State-owned Assets Supervision and Administration Commission of Pudong New Area, Shanghai Municipality, AllBright Law Offices was involved in the formulation and review of the Shang Gong market-oriented "mixed ownership reform" plan, and negotiation and drafting of the core terms of the equity transfer agreement; and provided legal services throughout the process including compliance due diligence concerning entities involved in the equity transfer, the underlying equity and the transaction, and issuance of lawyer's opinions.