In January 15, 2016, theGlobal M&A Management Summit (the “Summit”) was held at the International Conference Center of Beijing Jiaotong University. The theme of the Summit is tograsp the investment opportunities in the RMB era and improve the efficiency ofM&A and restructuring.

Cao Lei, partner of Cathay Associates Keijie, participated in the round-table dialogue as a guest on “howto improve enterprises’ ability of acquisition and anti-acquisition from the perspective of the ownership war between Baoneng and Wanke”. Other guests ofthe dialogue included Tang Chongjian, president of the listed company Gold CupElectric, and Lin Jinfeng, chairman of Ginkgo Group, Hong Mike, Partner ofGlobal PMI Partners, and Zheng Tianren, Asia editor-in-chief of the international financial media InstitutionalInvestor. Cao Lei used the ownership war between Baoneng and Wanke as anexample to explain what counter-acquisition measures and precautions China’slisted companies can take when facing hostile takeovers, as well as whatstrategic precautions they can take in advance to prevent future hostile takeovers.