Haiping Li is the leader of Skadden’s Shanghai office. She focuses on corporate finance transactions, cross-border mergers, acquisitions, investments and other general corporate matters.

Bio

Ms. Li has extensive experience in advising companies, underwriters and private equity sponsors in U.S. and Hong Kong capital market transactions, including initial public offerings and follow-on equity, debt and convertible bond offerings, private placements, U.S. regulatory compliance and filings. She has advised companies and private equity sponsors in mergers, acquisitions, business combinations, investments and dispositions, including representing companies on financings from financial and strategic investors prior to, in connection with and after their IPOs, as well as advising investors on investments in companies in various industries around the world.

Ms. Li was named one of China’s Rising Lawyers by Asian Legal Business in 2015.

Capital Markets

Initial public offerings for leading Chinese companies:

  • Cootek Inc., a fast-growing mobile internet company;
  • LAIX Inc., which operates Liulishuo, an AI-powered English language learning platform;
  • Viomi Technology Co. Ltd., an internet-of-things home technology company;
  • China Renaissance, a financial institution serving “new economy” companies;
  • NIO Inc., China’s leading developer of high-performance electric vehicles;
  • 111, Inc., one of China’s first online retail pharmacies;
  • Xiaomi Corporation, a technology and consumer electronics company;
  • VCREDIT Holdings Limited, an independent online consumer financial service provider;
  • Huya Inc., a live-streaming gaming platform;
  • Bilibili Inc., an entertainment platform serving youth;
  • China Literature, an online literature platform;
  • Yixin Capital Limited, an online automotive transaction platform;
  • ZhongAn Online P&C Insurance Co., Ltd., an online-only InsureTech company;
  • PPDAI Group Inc., a leading online consumer finance marketplace;
  • Secoo Holding Limited, Asia’s largest online integrated upscale products and services platform;
  • TAL Education Group, a leading Chinese after-school tutoring institution;
  • ZTO Express (Cayman) Inc., one of the largest global express delivery companies;
  • Momo Inc., a mobile-based social networking platform;
  • Jumei International Holding Limited, China’s No. 1 online retailer of beauty products;
  • JD.com, Inc., China’s largest online direct sales company;
  • 58.com Inc., China’s largest online marketplace serving local merchants and consumers;
  • YY Inc., a revolutionary rich communication social platform;
  • Vipshop Holdings Limited, China’s leading online discount retailer for brands;
  • Yirendai Ltd., an online consumer finance marketplace connecting investors and individual borrowers;
  • Yahoo! Inc. and Yahoo Hong Kong, selling shareholders in the IPO of Alibaba Group Holdings Limited;
  • Xunlei Limited, an internet company;
  • Tuniu Corporation, an online leisure travel company;
  • Weibo Corporation, a social media platform;
  • Youku Tudou Inc., China’s leading internet television company;
  • E-Commerce China Dangdang Inc., a leading business-to-consumer e-commerce company;
  • RDA Microelectronics Inc., a fabless semiconductor company;
  • Noah Holdings Limited, a wealth management service provider; and
  • Daqo New Energy Corp., a solar polysilicon manufacturer.

Public company representations:

  • Ctrip.com International Ltd., a NASDAQ-listed travel service provider in China, in its multibillion-dollar public offerings of equity and convertible debt securities;
  • Baidu, Inc., a NASDAQ-listed Chinese-language internet search provider, in its multibillion-dollar public offerings of debt securities;
  • 58.com Inc., YY Inc., Youku Tudou Inc. and Vipshop Holdings Limited in their respective public offerings of equity and convertible debt securities; and
  • U.S. public companies in their U.S. securities law compliance, corporate governance and periodic reporting.

Underwriter and initial purchaser representations:

  • Morgan Stanley, Citibank and Merrill Lynch in the follow-on offering and NYSE initial public offering of the largest provider of online education in China;
  • Morgan Stanley in the follow-on offering of a leading plasma-based biopharmaceutical company in China;
  • Credit Suisse and Merrill Lynch in the NASDAQ IPO of a mobile-based out-of-home advertising network in China;
  • Merrill Lynch and UBS in the IPO of a vertically integrated specialty pharmaceutical company;
  • Credit Suisse and Goldman Sachs in the proposed NYSE IPO of a leading vocational IT education provider in China;
  • JP Morgan and UBS in the HKEX IPO of a manufacturer of plastic pipes and pipe fittings in China, and the follow-on offering of high-yield debt securities; and
  • Morgan Stanley and Deutsche Bank in the proposed NASDAQ IPO of a provider of mobile email solutions in China.

M&A and Private Equity

Company representations:

  • Bilibili Inc. in a US$318 million equity investment by Tencent Holdings Limited;
  • Baidu, Inc. in its US$1.9 billion sale of a majority stake in its financial services business to a consortium led by TPG Capital, L.P. and The Carlyle Group L.P.;
  • ZTO Express (Cayman) Inc. in its US$1.4 billion sale of a 10 percent stake to a consortium led by Alibaba Group Holding Limited and Cainiao Network Technology Co., Ltd.;
  • a consortium led by Ocean General Partners and Ctrip.com in the proposed US$2 billion take-private transaction of eHi Car Services Limited (NYSE);
  • Ctrip.com International Ltd. (NASDAQ):
    • in the merger of eLong and Tongcheng Network, two of its invested companies;
    • in its over US$1.7 billion acquisition of Skyscanner, the Scotland-based flight search company, the largest travel tech acquisition in Europe to date;
    • in its acquisition of a strategic stake in Qunar Cayman Islands Limited (NASDAQ) from Baidu, Inc. (NASDAQ) and its business cooperation with Baidu;
    • in its partnership with The Priceline Group Inc. (NASDAQ), the world’s largest online travel service provider, and The Priceline Group’s over US$1.2 billion investment in Ctrip.com through convertible bonds;
    • in its acquisition of a strategic stake in eLong, Inc. (NASDAQ) from Expedia, Inc. (NASDAQ) and other selling shareholders, and its business cooperation with Expedia;
    • in its investment in MakeMyTrip (NASDAQ), India’s leading online travel company, through convertible bonds;
    • in its strategic partnership with Royal Caribbean Cruises Ltd. (NYSE), a global cruise company through Skysea Cruises;
    • in its strategic investment in Travelfusion, a U.K.-based online low-cost carrier travel search aggregator and innovator of Direct Connect global distribution solutions;
    • in its purchase of a business segment from Wing On International Holdings Limited, a HKEX-listed conglomerate; and
    • in its various investments in travel-service related businesses in China, the United States, the United Kingdom and India;
  • 58.com Inc. (NYSE):
    • in its acquisition of a strategic stake in Ganji.com, a major online local services marketplace platform in China;
    • in its strategic partnership with Tencent Holdings Limited (HKEX), a leading provider of comprehensive internet services in China, and Tencent’s investment in 58.com Inc.;
    • in its spin-off of 58Home, which operates 58.com’s home services and subsequent financing from Alibaba and KKR;
    • in its acquisition of Anjuke, a major online real estate listing platform in China, to create China’s largest online secondary real estate platform; and
    • in its spin-off of Guazi.com Inc., which operates 58.com’s consumer-to-consumer used car trading platform;
  • ByteDance Ltd. in its multibillion-dollar fundraising;
  • Yixin Capital Limited, in its multibillion-dollar fundraising from a group of strategic investors including Tencent, Bitauto, China Orient AMC International and SF Express’ founder;
  • Dianping Holdings Limited, China’s leading online-to-offline local services platform, in its multibillion-dollar issuance and sale of preferred shares to investors, including Xiaomi and Tencent;
  • Dianping in its business combination with Meituan and Internet Plus, the combined company in its multibillion-dollar financing from investors;
  • Didi Taxi in its strategic merger with Kuaidi Taxi;
  • Didi Chuxing in its acquisition of UberChina from Uber Technologies Inc. This transaction was named one of China Business Law Journal’s 2016 Deals of the Year;
  • DJI, an aerial technology company, in its corporate partnership with Hasselblad Group, a producer of high-quality professional cameras;
  • Kingsoft (HKEX) and Xiaomi in their investments in 21Vianet (NASDAQ), a carrier-neutral internet data center services provider in China;
  • Bitauto Holdings Limited (NYSE) in its US$1.55 billion investments from and strategic partnership with JD.com (NASDAQ) and Tencent, its strategic transaction with AutoTrader and spin-off of Yixin Capital. The spin-off was named one of China Business Law Journal’s Deals of the Year and one of Asian-MENA Counsel Magazine’s Deals of the Year for 2015;
  • Meilishuo in its acquisition by Mogujie;
  • JD.com, Inc. in the spin-off of its majority stake in its finance business, JD Finance;
  • Youku Tudou Inc. (NYSE: formerly known as Youku Inc.) in its US$5.6 billion change of control all-cash transaction with Alibaba; and its US$1.1 billion acquisition through a merger and taking-private transaction of Tudou Holdings Limited (NASDAQ);
  • E-House (China) Holdings Limited (NYSE) in its acquisition through a merger and taking-private transaction of China Real Estate Information Corporation (NASDAQ) a majority subsidiary of E-house prior to the merger;
  • representing members of buyer consortium in the taking-private transactions of Qunar Cayman Islands Limited, E-Commerce China Dangdang Inc., and E-House (China) Holdings Limited;
  • representing special committee in the US$9.3 billion taking-private transaction of Qihoo 360. This transaction was named Equity Market Deal of the Year at the 2016 Asian Legal Business China Law Awards and one of China Business Law Journal’s 2016 Deals of the Year;
  • representing the company in the taking-private transactions of RDA Microelectronics; and
  • Noah Holdings Limited (NYSE), in its private placement of convertible bonds.

Fund representations:

  • Hillhouse Capital, TPG, New Bridge, Sequoia Capital China, Chengwei Capital, SAIF Partners, GSR Ventures, DT Capital and Merrill Lynch private equity funds in their various investments in private and public companies with businesses in China.

Ms. Li is a native speaker of Mandarin and Shanghainese, and is fluent in English.

Credentials

Education

  • LL.M. in Corporate Law, New York University School of Law, 2004
  • LL.B., Shanghai International Studies University School of Law, 2000

Admissions

  • Hong Kong
  • New York

Languages

  • Mandarin Chinese
  • Shanghainese
  • English