At 18: 40 p.m. on October 29, 2021, the 47th Corporate Legal Risk Forum, held by China Corporate Legal Risk Management Research Center of Peking University, was successfully held in Room 306, Third Teaching Building, Peking University. Mr. Zhu Chunming, General Manager of Shenwan Hongyuan Securities Co., Ltd., and Mr. Yin Yongjun, Head of Shenwan Hongyuan Environmental Protection, Energy and Chemical (Carbon Neutral) Industry Department, were invited to lecture on the topic of "Difficulties in Securities Sponsorship and Underwriting". The Forum was chaired by Professor Jiang Daxing of Peking University School of Law. Graduate and doctoral students from various law schools actively participated in the report process. After a warm welcome from the teachers and students and a brief introduction to Mr. Zhu Chunming and Mr. Yin Yongjun, the lecture began.

The lecture is divided into two parts. In the first part, General Manager Zhu Chunming explains the key legal issues of issuance audit from two listing cases, and shares how to undertake business and the prospects of the sponsor industry. In the second part, Mr. Yin Yongjun explains the key points of legal practice of sponsor business, including the types of sponsor business and the scope of due diligence, the main legal basis of IPO business, the definition of public offering, the main contents and basic methods of sponsor business. Mr. Yin Yongjun further analyzes the key contents of listing audit, including the issuer's subject qualification, the issuer's history, the issuer's promoter shareholders and actual controller, the issuer's asset status, the issuer's major asset changes, mergers and acquisitions, the issuer's main creditor's rights and debts, the issuer's business conditions, the issuer's business operation compliance, the issuer's related party transactions and horizontal competition verification, and the issuer's corporate governance compliance.

After Mr. Zhu Chunming and Mr. Yin Yongjun finished the lecture, they answered the students' questions one by one, which benefited the students a lot. Finally, the Forum came to a successful end amidst the applause of the teachers and students.

Translated by: Wang Yibo

Edited by: Wang Yibo