Our Expertise

Our due diligence goes beyond a mere review of the target company's financial data. We conduct a comprehensive analysis of the target’s operational status, identifying risks across all levels of the enterprise and advising on their potential impact on the transaction. Our scope covers the following key areas:

- Reviewing the target’s historical financial information and industry conditions.

- Understanding the target’s business model.

- Analyzing key success factors (KSFs).

- Analyzing adverse factors that may affect investment value.

- Analyzing and quantifying key drivers affecting financial models.

- Assessing tax compliance and potential tax liabilities.

- Highlighting issues that may impact the terms of transaction or financing agreements.

- Validating the reasonableness of key assumptions in financial models based on historical data.

Furthermore, as digitalization accelerates across all industries—whether in emerging sectors or traditional enterprises—the verification of IT-related information (systems and databases) has become an indispensable part of due diligence.

Our IT Due Diligence service analyzes system architectures, database structures, data content, and logs to detect data anomalies or traces of illicit manipulation. Through multi-dimensional statistical analysis and external verification, we reveal the true state of the business operations. Our IT services include:

- Inspection of historical data for operational anomalies.

- Data log analysis.

- Diagnostic of data system settings and architecture.

- Verification of data accuracy and validation of data definitions provided by the target.

- Data aggregation and statistical analysis based on business requirements.

- White-box testing / Order testing.

Our Enterprise AI Management Innovation Consulting services include:

- Scenario Insight & Strategic Planning: Develop deep understanding of business realities and management challenges, identify key scenarios where AI creates differentiated value, and define a clear AI implementation roadmap.

- Methodology Development & Capability Building: Establish AI application frameworks tailored to organizational characteristics, integrate core institutional knowledge with AI capabilities, and build intelligent management systems designed for continuous evolution.

- System Delivery & Value Validation: Deliver AI-native management innovation systems, validate impact through quantifiable business outcomes, and ensure measurable returns on AI investment.

- Long-term Partnership & Continuous Optimization: Serve as a trusted long-term partner in AI transformation, continuously monitor system performance, iterate and enhance capabilities, and empower enterprises to build enduring competitive advantage in the AI era.

Our business valuation services primarily include:

- Transaction Support: Enterprise and equity value analysis for transaction purposes.

- Post-Investment Management: Valuation analysis of projects and asset portfolios for post-investment monitoring and management.

- inancial Reporting: Valuation analysis for financial reporting purposes, covering equity value, individual assets, financial instruments, Property, Plant, and Equipment (PP&E), Purchase Price Allocation (PPA), and asset impairment testing.

- Regulatory Compliance: Equity valuation reports for tax compliance, foreign exchange administration, and other regulatory requirements.

- Strategic Decision Making: Other customized valuation services to assist clients with internal management reviews and strategic decision-making.

Our typical property valuation services include:

- IPO & Regulatory Support: Property valuation for Initial Public Offerings (IPOs) and shareholder circulars.

- Financial Reporting: Fair value measurement of investment properties.

- REITs: Property valuation for Real Estate Investment Trusts (Domestic and International).

- Transactions & Financing: Valuation for M&A transactions and various real estate investment and financing activities.

- Distressed Assets: Valuation for the acquisition and disposal of non-performing assets (NPAs).

Our capital markets services primarily include:

- Providing financial, tax, and compliance diagnostics for companies preparing for IPOs in Mainland China, Hong Kong, and the United States, and resolving major issues before formally launching the IPO

- Preparing accounting technical documentation/memos and advising on accounting treatments for significant transactions

- Advising on readiness across operations, finance, and the management team

- Assisting in selecting underwriters/investment banks, auditors, legal counsel, and other listing advisors, and coordinating with these intermediaries

- Offering retainer advisory services throughout the IPO preparation period, with regular meetings with management to prevent new listing obstacles

- Delivering finance and compliance training for management and employees

Our primary equity incentive plan design services include:

• Design equity incentive plans aligned with the company’s talent strategy and incentive goals. A typical plan includes, but is not limited to, the following elements:

- Determining the total grant pool and the source of shares

- Defining participant scope, eligibility criteria, and allocation principles across participants

- Selecting the incentive instruments

- Setting key terms: grant frequency and duration, vesting/release schedule, exercise or unlock conditions, purchase/exercise price, and exit/liquidity mechanisms

- Assessing financial and tax impacts, including share-based payment expense recognition in the financial statements and participants’ individual income tax

• Communication, engagement, and onboarding for plan participants. For example: conduct one-on-one interviews with designated participants per company requirements to understand their awareness and expectations regarding equity incentives; attend and support participant-facing briefings/town halls; assist in preparing communication materials; and support the company’s overall plan communication and rollout.

• Draft, or assist the company’s legal counsel in drafting and finalizing, the legal documentation for the incentive plan.

Our tax planning services primarily include:

- Providing comprehensive tax planning, helping clients restructure group business structures to maximize the use of tax incentives and government fiscal rebates

- Delivering transfer pricing services for business migrations and related needs

- Assisting with applications for preferential policies such as High and New Technology Enterprise (HNTE) and software enterprise incentives, and leveraging Western Development as well as Xinjiang and Tibet preferential policies for tax planning

- Designing outbound investment equity structures for domestic enterprises and related cross-border financial and tax arrangements

- Designing business models for companies providing cross-border services to achieve tax efficiency

- Structuring engagement models with individual service providers to reduce individual income tax costs and related risks

1. Fund Commercial Due Diligence (Fund CDD)

We provide Fund Commercial Due Diligence services for Limited Partners (LPs). Our goal is to verify the uniqueness, feasibility, and sustainability of a fund's investment strategy. We conduct a prudent and comprehensive assessment of both the fund and its managers to assist LPs in making effective, informed investment decisions.

Our Fund CDD services primarily cover:

- Industry Analysis: Analyzing the fund’s sector allocation, industry evolution, competitive landscape, and development trends.

- Investment Strategy Analysis: Assessing the differentiation and sustainability of the investment strategy to determine the repeatability of historical performance.

- Fundraising History: Reviewing historical fundraising sources, repeat investment rates (re-ups), and feedback from key LPs.

- Management Team: Evaluating educational backgrounds, professional experience, cohesion among core members, and the reasons for and impact of any key personnel departures.

- Incentive Mechanisms: Analyzing compensation structures and incentive schemes to assess their implementation and attractiveness (alignment of interest).

- Pipeline Analysis: Assessing the progress, investment value, and strategic alignment of the project pipeline (reserve projects).

- Track Record: Analyzing performance statistics across multiple dimensions to evaluate the team's investment capability, logic, and preferences.

- Customized Services: Other bespoke Fund CDD services tailored to specific client requirements.

2. Corporate Financial Management Consulting

Our Financial Management Consulting services go beyond merely enhancing corporate performance through improved efficiency and effectiveness of financial processes. We align financial objectives with broader business goals and strengthen internal business governance, thereby optimizing the control and utilization of corporate resources. Our services include, but are not limited to:

- Process Re-engineering: Redesigning processes for financial consolidation and reporting.

- Benchmarking: Benchmarking financial processes and operations to identify performance gaps and operational issues.

- Policy & Control Frameworks: Designing and implementing financial policies and control frameworks, ensuring they are integrated into all relevant business, regulatory, corporate governance, and internal control requirements.

- Budgeting Systems: Establishment and optimization of comprehensive budgeting systems.

- Customized Consulting: Other bespoke financial consulting services tailored to specific client needs.