In order to strengthen the supervision and management of securities service institutions engaged in securities service business activities, in July 2020, the China Securities Regulatory Commission issued Announcement No. 52 of 2020, "Regulations on the Administration of Securities Service Institutions Engaged in Securities Service Business Filing", which will be implemented from August 24, 2020. On August 21, 2020, the China Securities Regulatory Commission (CSRC) issued the "Guidance on the Application of Regulatory Rules - Legal Category No. 1" "Guidance on the Filing Work of Law Firms Engaged in Securities legal Business" to guide law firms engaged in the filing work of securities legal business. After the promulgation of the relevant regulations, Guo Hillhouse Law Firm carried out the filing work in accordance with the relevant requirements, and successfully completed the filing of law firms engaged in securities legal business recently.

After the completion of the filing, Hillhouse Law Firm can provide securities services for the following securities activities, and produce and issue legal opinions:

1. Initial public offering of shares, depositary receipts and listing;

2. Issuance and listing of securities by listed companies;

3. Acquisitions of listed and unlisted public companies, major asset restructuring and share repurchases;

4. Merger, division and spin-off of listed companies;

5. Listed companies and non-listed public companies shall implement equity incentive plans or employee stock ownership plans;

6. Public issuance of corporate bonds and listed transactions;

7. A domestic enterprise directly or indirectly issues securities overseas or lists its securities for trading overseas (including subsequent issuance of additional shares);

8. The transfer of shares of the company to a specific object leads to a cumulative number of shareholders exceeding 200, and the company applies for the listing and public transfer of shares in the national SME share transfer system;

9. The issuance of shares by a joint-stock limited company to a specific entity results in the cumulative number of shareholders exceeding 200, and the issuance of shares by an unlisted public company with more than 200 shareholders to a specific entity, and the public issuance of shares to an unspecified qualified investor.