Bai Hemin focuses on resolving major, complex, and cutting-edge disputes in the capital markets, dedicating herself to providing comprehensive dispute resolution legal services to a diverse range of clients, including corporations, investment institutions, financial institutions, entrepreneurs, and corporate executives. Her primary practice areas encompass litigation and arbitration related to securities, financial asset management, trusts, and corporate investment and financing. She has particularly extensive experience in disputes concerning liability for misrepresentation, liability of fund managers, breach of contract/tort in asset management and fund matters, investment exits, and the nature and validity of credit enhancement measures. Ms. Bai excels at precisely identifying the core issues in complex cases, delving into critical details to find effective breakthrough strategies. She has represented numerous listed companies, large state-owned enterprises, and financial institutions such as banks and trust companies, achieving successful outcomes in many difficult and complex cases. Ms. Bai places great emphasis on understanding clients' commercial objectives and the underlying logic of their transactions, adeptly integrating legal techniques with business acumen to provide clients with practical, professional, and targeted solutions. Her professional competence and dedicated approach are widely recognized by her clients.

• Represented a large state-owned bank in a dispute concerning a private placement guarantee agreement with the controlling shareholder of a listed company, with a disputed amount of nearly RMB 800 million. The case proceeded through the Shenzhen Intermediate Court, Guangdong High Court, and the Supreme People's Court. Against the backdrop of increasingly stringent financial regulation and a general judicial tendency to invalidate such agreements, our team conducted an in-depth analysis from multiple perspectives, including regulatory policies, transaction background, and performance history. We successfully persuaded the courts at all instances to adopt our arguments, achieving a breakthrough ruling that the client was not required to repay the guarantee funds already received, thereby avoiding substantial financial loss. This case provides significant reference value for financial institutions handling similar legacy matters and holds demonstrative and typical significance for the industry.
• Represented a Shenzhen-based group company in a series of disputes arising from a cooperative real estate development contract with a real estate company and a hotel company, concerning a prime land parcel in Shenzhen's city center. We designed multiple remedial paths for the client and participated in numerous proceedings, including retrial applications, procuratorial supervision, first and second instance trials after remand, and a third-party revocation action. After four years, we achieved a comprehensive victory, averting potential economic losses exceeding RMB 1 billion. This case was recognized in *China Business Law Journal*'s "Deals of the Year 2023" in the "Domestic Dispute Resolution" category.
• Represented a subsidiary of a Fortune Global 500 company in a series of contract disputes with a major bank, involving a disputed amount of RMB 3.8 billion. The case featured complex transaction structures and issues involving the interplay of civil and criminal liabilities. Initially stalled due to criminal proceedings and jurisdictional challenges raised by the opposing party, we effectively navigated these procedural hurdles, persuading the court to proceed with a substantive civil trial. Through in-depth analysis of the transaction's essence and regulatory trends, we precisely identified the core issues and devised a comprehensive solution integrating commercial and legal perspectives. This ultimately facilitated a settlement between the parties, resulting in the full recovery of the client's losses.
• Represented a subsidiary of a state-owned financial holding group in a contract dispute with a real estate development company and an urban construction investment company. After the client suffered a complete loss at first instance and faced highly unfavorable factual findings in a related Supreme People's Court judgment, we participated in the second instance proceedings before the Supreme Court. We successfully obtained a Supreme Court ruling remanding the case for retrial, a significant victory. The disputed amount was approximately RMB 700 million. The case involved complex legal issues including share transfer by way of guarantee and the determination of malicious collusion, and was intertwined with multiple related proceedings and parties, establishing a benchmark for the handling of similar cases.
• Represented an entrepreneur in a protracted and procedurally complex equity transfer dispute spanning many years. The client had lost at all stages: first instance, second instance, first instance retrial, second instance retrial, and even the retrial application. Faced with the formidable challenge of facts solidified by multiple prior judgments and no new evidence, we reconstructed the transaction facts from multiple dimensions, effectively overturning the unfavorable conviction formed in previous trials. We precisely exposed contradictions in the opposing party's key statements and clarified the legal application regarding "malicious collusion." Ultimately, we succeeded in securing the procuratorate's filing of a protest, leading the Hainan High People's Court to retry and reverse the judgment. The protest letter and the retrial judgment extensively adopted our arguments. This case stands as a classic example of a successful reversal through procuratorial supervision procedures.
• Represented a large asset management company in a fund investment exit dispute with the controlling shareholder of a listed company, involving a disputed amount of nearly RMB 1.2 billion. Facing the disadvantages of an ambiguously worded fund contract, poor performance of underlying assets, and significant legal obstacles to the exit route, our team conducted meticulous legal论证 and evidence preparation pre-litigation. We precisely rectified contractual deficiencies and solidified key facts, laying a solid foundation for litigation. We ultimately achieved a comprehensive victory in both the Shenzhen Intermediate Court and the Guangdong High Court. Subsequently, during the enforcement phase, through efficient communication and coordination, we facilitated the swift disposal of the listed company's shares and participated in the distribution of assets from another case, achieving a substantial recovery for the client.
• Represented the controlling shareholder of a listed company in a dispute arising from a private placement guarantee agreement with a large state-owned enterprise, with a disputed amount of approximately RMB 120 million. Confronted with contract terms highly unfavorable to the client, potentially leading to significant guarantee liability, we conducted in-depth research on regulatory rules and judicial trends, precisely formulating the litigation strategy. The court ultimately not only dismissed all of the opposing party's claims, mitigating losses for the client by RMB 105 million, but also partially granted our counterclaim, recovering RMB 5 million. Cumulatively, we averted losses totaling RMB 110 million for the client, far exceeding their expectations.
• Represented the controlling shareholder of a listed company in an arbitration concerning a performance commitment compensation dispute with an investment company, with a disputed amount of approximately RMB 41 million. The performance commitment clauses were clear and strict, exposing the client to significant compensation risk. We delved into the essence of the performance compensation system, successfully persuading the arbitral tribunal to comprehensively consider shareholder interest balance and the reasonableness of the performance commitment. Consequently, the compensation amount was drastically reduced from RMB 41 million to approximately RMB 6.3 million, significantly alleviating the client's performance burden and safeguarding their legitimate rights and interests to the maximum extent.
• Represented the majority shareholder of a well-known enterprise in internal corporate disputes with minority shareholders. Facing a series of seven lawsuits consecutively initiated by the minority shareholders over three years, our legal team devised an overarching strategy and achieved comprehensive victories at all stages of the proceedings, including first instance, second instance, retrial applications, and enforcement. This ultimately forced the minority shareholders to reach a settlement with the majority shareholder and withdraw all pending claims and appeals. Our legal work in this case successfully defended the client against the minority shareholders' unreasonable demands, allowed the company to resume normal operations, and averted substantial losses.
• Represented a shareholder of a listed company in a securities misrepresentation liability dispute with Luo Mou and eleven others, and a law firm, heard by the Chengdu Intermediate Court. Despite the regulatory authority having issued an administrative penalty decision against the client for concealing a nominee shareholding arrangement, we focused our defense on core arguments such as "the misrepresentation lacked materiality" and "the investors' trading decisions had no causal relationship with it." This strategy ultimately succeeded, with the court dismissing all of the plaintiffs' claims.
• Represented an institutional investor in a securities misrepresentation liability dispute concerning a privately placed corporate bond issuance with an issuance amount of approximately RMB 900 million and a dispute amount of approximately RMB 20 million. The case involved suing various intermediaries for liability for misrepresentation. A first-instance judgment has been rendered in favor of our client, holding the intermediary institutions liable for compensation.