JC Master Updates | JC Master Partner Attorney Shi Qiao, at the invitation of Wanfatong, joined over 1,500 attendees to explore equity investment governance and earn-out strategies under state‑owned asset supervision.

This live broadcast closely aligns with the core requirements of state‑owned asset supervision, focusing on the practical pain points throughout the entire lifecycle of equity investments. Attorney Shi Qiao systematically dissected key issues under the state‑owned capital framework, including the design of control rights in equity investments, earn‑out strategies, post‑investment management, and compliant exit mechanisms. Drawing on landmark judicial precedents and real‑world market cases, the session highlighted critical aspects such as equity structure design, valuation‑related provisions, allocation of voting rights and board seats, and delineation of decision‑making authority over material matters. It also clarified the validity and procedural compliance requirements for key earn‑out elements—such as shareholder‑based earn‑outs, corporate guarantees, and capital reduction–share repurchase arrangements—and underscored the importance of internal resolutions, evidence preservation, and closed‑loop process management.
 

Attorney Shi Qiao specializes in legal services for listed companies, legal advisory work for administrative agencies and state-owned enterprises, corporate compliance, major commercial litigation involving bulk commodity trading, fund establishment and ongoing management, equity investment and financing, as well as non-litigation and litigation services related to the recovery of distressed debts and commercial asset disposal.