Rongjing has over 17 years’ experience advising private equity firms, institutional investors and major corporations on complex cross-border transactions, including control deals and leveraged buyouts, mergers and acquisitions, growth capital investments, spin-offs, and distressed M&A transactions. She primarily represents private equity funds in their investments and acquisitions in Asia and strategic clients in their outbound investments and acquisitions outside China. She also has extensive experience advising clients on take privates of U.S.-listed companies and other U.S. public and private company M&A transactions. 

Rongjing has advised a wide range of global and regional financial sponsors, including Ascendant Capital, Advantage Partners, Bain, Blackstone, Carlyle, Centurium Capital, Canada Pension Plan Investment Board (CPPIB), CITIC Capital/Trustar, China International Capital Corporation, Clearlake, Hillhouse, KKR, PAG, L Catterton, Silver Lake and Warburg Pincus. She has also advised major technology companies and multiple listed companies (including those listed on the NYSE, Nasdaq, Hong Kong Stock Exchange and Shenzhen/Shanghai Stock Exchange) on their most strategic acquisitions and investments.

Rongjing was named “Lawyer of the Year (PE Foreign Firm)” by The Legal 500 China Awards in 2024 and a “Top 15 Female Lawyer” by Asian Legal Business China in 2024. She is “Highly Recommended for China Private Equity and China Corporate and M&A” by The Legal 500 Asia Pacific in 2024–2025. Clients praised Rongjing as “a lawyer with strategic insights and pragmatic commercial sense and an impressive ability to manage complex cross-border transactions.”

Prior to joining MoFo, Rongjing was a partner in a leading international law firm’s Hong Kong and Shanghai offices for several years. She is a native Mandarin speaker and fluent in English. 

Representative Matters

Private Equity Investments and Controlling/Buyout Transactions 

• Ascendent Capital Partners in its US$1.66 billion privatization of Hollysys Automation Technologies Ltd. (NASDAQ: HOLI), a leading international automation control system solutions provider. 
• The Carlyle Group 
  • in its leveraged buyout of HCP Packaging, a global designer and manufacturer of packaging containers for the beauty industry, from Baring Private Equity Asia. This transaction was included in “Deals of the Year 2022” by China Business Law Journal;
  • in its US$1.05 billion leveraged buyout of VXI Global Solutions, a U.S.-based multinational service provider with major operations in the United States, Southeast Asia, Europe, and China; 
  • and Anchor Equity Partners in their respective investments in Airoha Technology Corp., a global leading communications solutions fabless integrated circuit design house based in Taiwan, majority-owned and controlled by MediaTek Inc. (TWSE: 2454);  
  • with CITIC Limited and CITIC Capital Holdings in the US$2.08 billion acquisition of the McDonald’s operations in China and Hong Kong and negotiation of a 20-year master franchise agreement―the largest McDonald’s franchise in the world; 
  • in its US$150 million investment in OneSmart Education Group (NASDAQ: ONE); 
  • in its pre-IPO investment in Neiwai Inc., a Shanghai-based lingerie retail group; and
  • in its RMB530 million investment in Beijing Ubox Technology & Trade Co., Ltd, a leading vending machine operator in China. 
• Centurium Capital in its US$150 million pre-IPO investment in NTX Group, a global textile technology company.
• China International Capital Corporation in its pre-IPO convertible bond investment of an auto finance company and the subsequent restructuring and litigation. 
• Clearlake Capital Group and its portfolio company Alkegen, one of the largest specialty materials platforms in the world, on its US$470 million partial tender offer in Luyang Energy-Saving Materials Co. Ltd., a Shenzhen Stock Exchange-listed company (SZSE: 002088). 
• Coatue Management in its investment in Niutron Technologies, AI Rudder Technologies, Rox (Cay) Holdings Ltd; and the US$700 million pre-IPO investment in Dingdong Maicai (NYSE: DDL).  
• KKR in its US$645 million sale of MMI Holdings to a Chinese consortium and the subsequent restructuring to regain control. 

Cross-Border/Public M&A Transactions  

• OcuMension Therapeutics (HKSE: 01477), a Hong Kong Stock Exchange listed ophthalmic pharmaceutical platform in China 
• in its acquisition of substantial assets valued at HK$1.28 billion (approximately US$165 million) from Alcon Inc., a global leader in eye care. The transaction involves asset purchase, global license, transition services and manufacture and supply arrangement and constitutes a very substantial transaction of OcuMension.
• in its PIPE investment in Alimera Sciences, Inc., a U.S. pharmaceutical company (NASDAQ: ALIM). 
• Sea Limited (NYSE: SE) in its acquisition of Phoenix Labs, an acclaimed independent games development company based in Vancouver.
• Vimicro International Corp (NASDAQ: VIMC) in its going-private transaction.
• Webull Corporation in three rounds of equity financings and pre-IPO financing, which raised over US$460 million in total.