JiaYuan advised China Coal Energy Company Limited (“China Coal Energy”), as China law counsel, on its US$1.69 billion (HK$13.15 billion before exercise of the over-allotment option) global offering. The H-shares commenced trading on the Hong Kong Stock Exchange under the ticker of 1898 HK. Subsequently, China Coal Energy successfully listed its US$3.5 billion (RMB 25.3 billion) A-shares on the Shanghai Stock Exchange (“SSE”). The Company’s A-shares commenced trading on the SSE under the ticker of 601898.SH on 1 February 2008.

China Coal Energy is the second largest coal enterprise in China based on its 2005 revenue and the fifth largest public coal company in the world in terms of coal reserves. It was established in 2006 through a restructuring by its parent company, China National Coal Group, one of only two Chinese Coal companies reporting directly to the central government. JiaYuan also advised China National Coal Group on the restructuring which involves complicated legal issues under Chinese law, including the structuring of management, ownership and operations, as well as foreign investment and foreign exchange control issues. As part of the restructuring, China National Coal Group transferred to China Coal Energy substantially all its assets and interests related to coal, coke manufacturing, coal mining equipment manufacturing, and coal mine design and other related businesses.