Yunnan Yuntianhua Co., Ltd. (“Yuntianhua”) successfully completed its proposed material asset reorganization by issuing shares to specific investors with a total consideration of RMB13.79 billion, said shares have been listed on SHSE since May 17th, 2013. In terms of deal size, the material asset reorganization transactions was the largest in 2013, and 2nd largest since 2012 in the A-share market. CICC acted as Sole Financial Advisor to Yuntianhua on this transaction.