Technology, Media & Telecommunications

Fangda is widely recognized in the Greater China legal market for the strength of our TMT practice over the past 20 years. We deliver technically sound, innovative, sophisticated and practical advice to execute client’s most challenging deals. We combine local knowledge with a global perspective, ensuring consistent and integrated advice.

Our lawyers have in-depth knowledge of all key sectors within TMT. These include telecommunications, e-commerce, new and old media, big data, internet of things, artificial intelligence, cloud computing, fintech, online education, intelligent logistics, semiconductors, and biopharmaceuticals.

We advise major international and Chinese clients in the TMT sector on all their significant business dealings, including mergers and acquisitions, finance (equity and debt), restructuring, personal information and data protection, private equity and venture capital, cross-border data transmission and network security compliance, cartels and antitrust and intellectual property protection.

Recognition

  • China Technology, Media, Telecoms (TMT) – Band 1
    Chambers Asia-Pacific 2015-2020
  • TMT PRC firms – Tier 1
    The Legal 500 Asia Pacific 2015-2020
  • IT, Telco & Media (Outstanding)
    Asialaw Profiles 2018-2020
  • Technology, Media and Telecommunications – Winner
    China Business Law Journal 2013, 2016 and 2019

Notable Matters

We have advised on many of the market’s most significant transactions. These including representing:

Technology Media & Telecommunications

Capital Markets
  • Alibaba Group on its US$25 billion initial public offering of American Depositary Shares and its US$10 billion monetization by SoftBank Group Corp.
  • YY Inc. on its issuance of American Depositary Shares for US$442 million.
  • Qudian Inc. on its US$975 million initial public offering of American Depositary Shares.
  • Jianpu Technology Inc. on its US$220 million initial public offering of American Depositary Shares.
  • China International Capital Corporation as the sponsor and lead underwriter in Foxconn Industrial Internet Co.’s global reorganization and RMB27.1 billion initial public offering of A shares on the domestic market.
  • Focus Media’s privatization for US$3.7 billion and its back-door listing of A shares on the domestic market.
  • Jumei’s US$430 million initial public offering of American Depositary Shares.
  • Goldman Sachs as the sole sponsor in Huahong Grace Semiconductor’s US$300 million’s Hong Kong initial public offering.
  • UBS as the global coordinator and sponsor in BYD Electronic (International) Company Limited’s HK$6.7 billion initial public offering on the Hong Kong Stock Exchange.
  • Baring Private Equity Asia on its acquisition to take Giant Interactive Group private for a consideration of US$2.8 billion.
  • A consortium of investors including the company’s chairman Zhou Hongyi, together with Citic Guoan, Golden Brick Silk Road Capital, Sequoia Capital China, Taikang Life Insurance, Ping An Insurance, Sunshine Insurance, New China Capital, Huatai Ruilian, Huasheng Capital or their affiliated entities in the taking-private transaction of Qihoo 360 Technology Co. Ltd. in an all-cash transaction valued at approximately US$9.3 billion.
  • CICC and Credit Suisse as the underwriters in E-House (China) Enterprise Holdings Limited’s Hong Kong initial public offering and global offering of ordinary shares raising approximately HK$4.7 billion.
Mergers & Acquisitions
  • Alibaba’s US$9.5 billion acquisition of Ele.me; its US$4.63 billion acquisition of Suning Commerce Group; its US$1.58 billion acquisition of AutoNavi; its US$1.2 billion acquisition of Youku Tudou Inc. and its US$804 million acquisition of China Vision Media Group.
  • Ele.me’s merger with Baidu Waimai at a consideration of US$500 million.
  • Didi Chuxing on its US$7 billion acquisition of Uber and its merger with Kuaidi resulting in a merged company with valuation of US$6 billion.
  • musical.ly on its acquisition by Bytedance.
  • Full Truck Logistics Information Co. on its consolidation with Truck Alliance Inc. for a combined valuation of US$1.6 billion and its US$1.9 billion financing from a group of investors led by Softbank Vision Fund.
  • China Music Corporation on its merger with Tencent’s QQ Music business.
  • Mobike on its merger with Meituan for US$2.6 billion.
  • Anjuke’s US$260 million acquisition by 58.com Inc.
  • A buyer consortium comprising Kunlun, Qihoo 360 and Golden Brick Capital Management on the US$575 million purchase of the Opera web browser, the core business of Opera, a Norway-listed internet company.
  • Advanced Micro Devices (AMD) on its sale of shares to Nantong FUJITSU with a transaction price of US$370.6 million.
  • HP on the sale of 51% of the share capital of H3C Technologies Co to Unisplendour Corporation for RMB19 billion.
  • Tianjin Tianhai Investment Company on its acquisition of Ingram Micro, Inc. with a transaction price of US$6 billion.
  • Cainiao on its RMB5.3 billion capital increase from Alibaba Group.
  • Alibaba Group on its US$241.6 million equity investment in Souche Holdings; its RMB1.5 billion equity investment in SenseTime Group Inc.; its RMB4.7 billion equity investment in Wanda Film; its RMB15 billion strategic investment in Focus Media Information Technology Co.; its RMB3 billion investment with its affiliate to establish a joint venture Koubei; and its US$590 million strategic investment in Meizu Technology Corporation.
  • Canada Pension Plan Investment Board, Warburg Pincus, Discovery Capital Management and Boyu Capital on their US$14 billion subscription of the shares issued by Ant International Co.
  • Ant Financial on its US$350 million equity investment in Youon Low-Carbon Technology Co. (Hellobike); its US$350 million equity investment in VFinance; its co-investment with Primavera Capital in their purchase of a combined US$460 million stake in the spun-off Yum China; and its 33% equity investment by Alibaba Group.
  • Cainiao’s financing of approximately RMB10 billion and its US$290 million acquisition of the controlling stake in Dianwoda.
  • Koubei on its US$1.1 billion financing.
  • Didi Chuxing multi-billion US dollar financing for various rounds and its equity investment in transportation-related fields.
  • Bytedance’s various rounds of financings and its equity investment in industry-related fields.
  • Sequoia Capital, Yunfeng Capital and Tiger Fund on their investment in Momo Technology Company with a total investment of US$212 million.
  • Carlyle Group, together with Tiger Fund, on their US$200 million investment in Ganji.com.
  • Yun Xi Investment on its subscription of 20% A-Shares in Wasu Media for RMB6.5 billion.
  • Lakala Payment Co on its RMB1.45 billion financing.
  • Ali Venture Capital on the subscription of A-Share private placement by China United Network Communications Limited for RMB4.3 billion.
  • CMI Asset Management Company’s series B investment in Meituan.
  • Shanghai Integrated Circuit Industrial Investment Fund’s subscription for RMB2.9 billion equity interests in Shanghai Everdisplay Optronics.
  • Mobvoi on its US$180 million financing and its joint venture establishment with Volkswagen Group in AI mobility area.
  • PAG’s buy-out of Zhenai.com with the investment of RMB2 billion.
  • China Venture Capital Fund Corporation and Sunshine Life Insurance Corporation on their investment in Face ++ with an aggregate amount of US$220 million.
  • Sequoia Capital on its US$1.4 billion private equity investment in Pinduoduo.
  • Full Truck Alliance Co. on the US$1.9 billion financing from a group of investors led by Softbank Vision Fund.
  • Tongcheng Network Technology’s RMB1.4 billion strategic financing from and commercial cooperation with Ctrip.
  • Primavera Capital’s Series F investment in Dasouche, with this round’s total investment amount of US$578 million.