On June 5, 2026, the 2026 Annual Meeting of the Bankruptcy Law Research Society of Ningbo Law Society & Seminar on Special Research of Bankruptcy Reorganization of Listed Companies was successfully held in Ningbo. Co-hosted by Ningbo Financial Asset Management Co., Ltd. and the Law School of Ningbo University, the annual meeting conducted an in-depth discussion focusing on cutting-edge theoretical research and practical difficulties in the field of bankruptcy reorganization of listed companies. More than 200 experts, scholars, and industry elites from relevant government departments, national courts at all levels, well-known universities, renowned law firms, and bankruptcy administrators' associations gathered to build a broad consensus on improving the rule of law system for bankruptcy and serving high-quality economic development. Llinks partner Ms. Amy Ren was invited to attend this grand event and delivered an insightful keynote presentation as a speaker.
During the afternoon session at Breakout Venue I, themed "Selection and Application of Reorganization Investment Tools or Models," Ms. Amy Ren combined the recent case of the bankruptcy reorganization of Jintongling completed by the Llinks team to deeply analyze the commercial logic, value recreation, and financial restructuring path of reorganization investment as a special opportunity investment tool, which garnered significant attention and enthusiastic responses from the attending guests. Jintongling was recently selected as an Annual Investor Protection Typical Case by the China Securities Regulatory Commission (CSRC), marking another case handled by the Llinks team to be selected following the bankruptcy reorganization case of the listed company Zoje Resources. This is also one of only two cases selected by the CSRC that specifically address minority investor protection in the context of restructuring.
Ms. Amy Ren pointed out that the core of investment in the reorganization of listed companies lies in value recreation. Since the implementation of the new reorganization regulations, "shell preservation" and "shell buying" through reorganization will no longer receive a green light from regulatory authorities; instead, the listed company's own operational endowment, the integration of advantages with industrial investors, and whether the reorganization path can fundamentally enhance corporate value have become core considerations. In the Jintongling case, as it involved a special representative litigation—the third case of special representative litigation in China—Jintongling facilitated the execution of special representative litigation compensation through a "reorganization + litigation" approach to safeguard the interests of over 40,000 investors, fully demonstrating the social value of the case. However, from an investor's perspective, choosing to participate in a large-scale M&A project valued in the billions still required a closed loop of commercial logic. Based on the dual considerations of industrial synergy upgrading and capital strategic layout, the Llinks team assisted the industrial investor in leveraging the deep integration of channel capabilities and manufacturing capabilities to propel the company to build a full-chain business system of "core equipment + system integration + smart operations," which served as an excellent manifestation of restoring corporate operational capacity and enhancing the quality and efficiency of the reorganization.
Looking ahead, Llinks will remain true to its core values of professionalism and practicality. By keeping a pulse on frontier issues in restructuring and related fields, and by fostering closer collaboration with courts, academia, financial players, and industry associations, Llinks will continue to offer robust legal solutions—and in doing so, lend its intellectual and practical strengths to the ongoing improvement of the rule-of-law business environment and the sustainable development of the regional economy.
