On January 8, 2026, LEGALBAND officially released its "LEGALBAND 2025 China Top 15 Lawyers Special Recommendation: Debt Restructuring" list and "LEGALBAND 2025 China Top 15 Lawyers Special Recommendation: State-Invested and State-Owned Enterprises" list. Recognized for their profound professional expertise, outstanding performance, and excellent client reputation, Llinks partner Mr. Shawn Xu and contractual partner Ms. Aurora Zhang have been honored in their respective fields.

Shawn Xu

Mr. Shawn Xu holds an LL.B. from Southwestern University of Finance and Economics and an LL.M. from the University of Melbourne. He has extensive experience in domestic and cross-border bankruptcy restructurings and liquidations involving listed companies and large-scale enterprises. Acting as an administrator or legal counsel to investors, creditors, and debtors, his practice spans shipping, finance, energy, real estate, and high-end manufacturing. Notably, his work on CATL's restructuring of Snoway was recognized as an "Outstanding Deal of the Year 2023" by China Business Law Journal.

LEGALBAND's Remark

Mr. Shawn Xu is highly active in the fields of bankruptcy restructuring, liquidation, and debt restructuring. He has a deep understanding of the legal frameworks and workflows associated with these complex proceedings. Since beginning his practice, he has been deeply involved in landmark cases such as the CATL/Snoway restructuring, and the restructurings of *ST Zhongjie (002021), *ST Ningke (600165), Yurun Group, Fenghai Marine, Youkeshu (300209), and Jintongling (300091). He excels at identifying the restructuring value of distressed enterprises while balancing the interests of all parties to achieve optimal outcomes.

Client's Testimonial

"Mr. Shawn Xu demonstrates a high level of professionalism and profound legal mastery in debt restructuring. He is meticulous, consistently identifies key issues, and proposes practical solutions that drive projects forward. His integrity and efficient communication make him a highly trusted partner who sets a benchmark for legal services in this field."

Aurora Zhang

Ms. Aurora Zhang earned her LL.B. from Shanghai International Studies University and holds LL.M. degrees from University College London (2014) and Columbia Law School (2020). She joined Llinks in February 2015.

Ms. Zhang's practice focuses on private equity and venture capital (PE/VC), M&A, foreign direct investment (FDI), outbound investment, and joint ventures. Her clients represent diverse sectors including integrated circuits, life sciences, healthcare, AI, manufacturing, and consumer goods.

In the PE/VC sector, Ms. Zhang has advised prominent institutions such as SummitView Capital, Sequoia Capital, Alibaba Group, CDH Investments, CITIC PE, Paradise Silicon Valley, PICC Capital, Silver Lake, and Walden International. She has also represented startups like Metax, Brizon, Lightyear, Carbon Energy, and Momo Bakery in various financing rounds. Additionally, she has served multinational and listed companies such as Sinochem International, Unifrax, BP, and Porsche in M&A and corporate matters.

LEGALBAND's Remark

Ms. Aurora Zhang recently led significant projects such as Sinochem International's divestment of Ningbo Runwo and state-owned lead investors' investment in UNISOC. She has built solid relationships with state-owned clients including Sinochem International, China Internet Investment Fund, Shanghai IC Industry Investment Fund, Beijing Capital Technic Development Group, PICC Capital, and China Merchants Capital. Ms. Zhang's deep research into industrial policy and practical operations allows her to provide comprehensive support in transaction structuring, capital operations, and compliance management.

Client's Testimonial

"Ms. Aurora Zhang is honest and upright. In her collaborations with our company, Ms. Zhang consistently prioritizes state-owned interests and provides reasonable legal interpretations combined with business logic. Her high level of professionalism was instrumental in the successful completion of our projects."

For these rankings, LEGALBAND evaluated law firm submissions, lawyer self-recommendations, and client feedback, combined with long-term insights and observations from its China-based research team regarding the compliance sector. Based on these comprehensive criteria, the 15 most favored lawyers in mainland China for Debt Restructuring and State-Invested and State-Owned Enterprises were ultimately selected.