On March 4, 2026, China Business Law Journal announced its list of Deals of the Year 2025. The following four projects, for which Llinks provided legal services, made it onto the list:
[Capital Markets: Equity ]
Llinks Advised CATL on Its Successful Listing on the Main Board of the HKEX
On May 20, 2025, Contemporary Amperex Technology Co., Limited ("CATL") completed its initial public offering of overseas listed shares (H-shares) and listed on the Main Board of the Stock Exchange of Hong Kong Limited (the "Issuance and Listing"). In this global offering, CATL issued a total of 135,578,600 H-shares, raising net proceeds of approximately HKD 35.331 billion (prior to the exercise of the over-allotment option).
CATL's Hong Kong listing set multiple records, marking the largest fundraising by an A-share listed company in Hong Kong to date, and the largest IPO in the Hong Kong market in the past four years.
CATL is a global leader in innovative new energy technologies, committed to providing premier solutions and services for new energy applications worldwide.
Llinks, acting as the Issuer's PRC Counsel, provided comprehensive legal services for this project. These services included domestic legal due diligence, the issuance of PRC legal opinions, responses to filing inquiries from the China Securities Regulatory Commission (CSRC), assistance in reviewing and revising the prospectus and other listing application documents, and addressing feedback from Hong Kong regulatory authorities. Throughout the process, Llinks played an integral role in facilitating CATL's successful listing.
[ PE/VC ]
Llinks Advised IM Motors on Completing Its RMB 9.4 Billion Series B Financing
In December 2024, IM Motors Technology Co., Ltd. (hereinafter referred to as "IM Motors") announced the successful completion of its Series B financing, raising a total of RMB 9.4 billion.
The Series B financing was led by BOC Asset Investment (a subsidiary of the Bank of China), with participation from ABC Financial Asset Investment and Lingang Group. Technology companies including CATL, Momenta, and QingTao Energy also joined as co-investors, while existing shareholders SAIC Motor, ICBC Investment, and BOCOM Investment provided follow-on investments. The substantial funding from more than ten prestigious investment institutions, local state-owned capital, and technology enterprises fully reflects the capital market's strong confidence in IM Motors' long-term development potential and bright prospects. The proceeds from this round will be used for R&D in core technologies—such as digital intelligent chassis, steer-by-wire, and autonomous driving—and to accelerate the launch of new products.
Founded in 2020 and headquartered in Shanghai, IM Motors is a user-centric automotive technology startup jointly established by SAIC Motor, Zhangjiang Hi-Tech, and Alibaba Group. Serving as legal counsel to IM Motors, Llinks utilized its extensive experience in investment and financing to assist the company in successfully completing multiple rounds of financing.
Llinks Advised Damoda Intelligent Control on Its Series A Financing of Several Hundred Million RMB
In January 2025, Damoda Intelligent Control ("Damoda") announced the completion of its Series A financing, raising several hundred million RMB. This round was led by Cowin Capital, with participation from CMB International, China Merchants Capital, Shenzhen High-tech Investment, and Caixin Group. The proceeds will be utilized to ramp up R&D for AI product lines and accelerate expansion into overseas markets.
Founded in 2016, Damoda Intelligent Control specializes in the R&D, production, sales, and service of automated drone formation performance systems. Recognized as a national-level "Little Giant" enterprise (specialized, refined, differential, and innovative), the company holds over 100 core independent intellectual property rights. Its flagship products include integrated hardware and software solutions for automated drone swarms, such as drones, flight control systems, intelligent drone docking stations, and ground stations.
Serving as the legal counsel to Damoda Intelligent Control, Llinks provided professional legal services for this financing round, leveraging its extensive project experience in the investment and financing sectors.
[ Restructuring & Insolvency ]
Llinks Advised Xiamen Xindeco on its Substantive Consolidation and Reorganization of 26 Companies, including Maike Metals International Group
The 26 companies, led by Maike Metals, were founded as early as 1993 and hold a leading position as major metal and mineral traders in China. The group was once the country's largest copper trader, the largest supplier to China's copper market, and the largest private enterprise in Shaanxi Province. In the "2022 Top 50 Private Enterprises in Shaanxi" released by the Shaanxi Entrepreneurs Association, Xi'an Maike ranked first. In recent years, impacted by international and domestic situations as well as the pandemic, the group faced a liquidity crisis leading to financial debt defaults. A massive influx of litigation, arbitration, and asset freezing measures subsequently pushed the enterprise into distress.
In this case, Llinks Law Offices assisted Xiamen Xindeco in managing its creditor rights and facilitated its participation as an investor in the reorganization. This reorganization involved a joint investment by state-owned enterprises from both Xiamen and Xi'an, requiring extensive coordination of approval matters, meticulous transaction arrangements, and a highly challenging balancing of interests among different stakeholders. Llinks assisted the client in resolving numerous complex legal issues, earning high recognition for its services.
Based on continuous market tracking and independent professional judgment, China Business Law Journal selected these standout deals and cases from thousands of submissions over the past year. Core evaluation dimensions include transaction size, industry influence, structural innovation, judicial precedence, and contribution to social value.
