The DHHT service project has been selected as one of the annual typical cases by the Shanghai Bankruptcy Court.

On the morning of June 23, 2026, the Third Intermediate People's Court of Shanghai held a press conference titled "White Paper on the 2024-2025 Annual Bankruptcy Trial Work of the Shanghai Bankruptcy Court and Key Cases". They released and explained 12 key bankruptcy trial cases for the year 2025, covering areas such as the liquidation of large enterprise groups, the reorganization of delisted private enterprises, the rescue of new energy vehicle companies, out-of-court reorganization, cross-border bankruptcy, revitalization of scientific and technological innovation small and micro enterprises, and the connection between enforcement and bankruptcy. The case of Lauchabel Company's bankruptcy liquidation to reorganization, in which the representative of the reorganization investor participated, was successfully selected (Case One).

The Shanghai Third Intermediate People's Court stated that this case is the first instance in China where a company delisted from both A-share and H-share markets has successfully undergone reorganization, achieving an orderly connection between the bankruptcy procedures in the mainland and the securities regulatory rules in Hong Kong. By applying the reorganization procedure, this case saved a private enterprise that was in an operational predicament but still had development prospects and salvage value. It holds certain reference significance for resolving debts and revitalizing assets of companies that have been delisted in the future.

In the analysis of typical cases, the Shanghai Bankruptcy Court highlighted three exemplary values of this case: Firstly, by allowing the debtor to continue operating, it preserved the core assets such as the brand and supply chain for the enterprise's reorganization; Secondly, through the introduction of reorganization investors through market-based methods, it promoted the reconfiguration of resources and elements, facilitating the transformation and upgrading of traditional clothing enterprises; Thirdly, by achieving orderly connection between the bankruptcy process and securities regulatory rules, it ensured the compliance, transparency and openness of the reorganization process, and effectively safeguarded the legitimate rights and interests of small and medium-sized investors.

In this project, Qiu Wenyu and Yang Yiqin from DHHT Law Firm's Shanghai office provided legal services to the reorganization investors. The team provided professional support on key matters such as reorganization investment arrangements, transaction structure design, regulatory rule integration, and procedural advancement, assisting the client in legally and efficiently completing the investment arrangements and promoting the smooth implementation of the project.

This project has been selected as one of the annual typical cases of the Shanghai Bankruptcy Court. This is a full recognition of DHHT Law Firm's professional capabilities in the fields of bankruptcy reorganization, enterprise rescue, special asset disposal, and complex commercial legal services. In recent years, DHHT Law Firm has continuously deepened its expertise in enterprise rescue and reorganization. It has accumulated rich experience in areas such as the reorganization of listed companies, the rescue of distressed enterprises, the investment in non-performing assets, and the resolution of debt risks. It has participated in a number of significant projects with industry influence and exemplary significance. In the future, DHHT Law Firm will continue to uphold the concepts of "diligence, craftsmanship, and excellence", continuously monitor the cutting-edge practices in the field of enterprise rescue and reorganization, and leverage its professional advantages in bankruptcy reorganization, special asset investment, and complex commercial transactions, to provide more professional and efficient legal services for the risk resolution of enterprises, the transformation and upgrading of industries, and the high-quality development of the capital market.