On May 20, 2020, Global Logistic Properties (GLP) announced that Hidden Hill Capital, its affiliated private equity investment platform, had completed strategic equity investment in Ningbo COSCO Shipping Logistics, a subsidiary of COSCO Shipping Group, to further the latter's mixed ownership reform.

In August 2018, the State-owned Assets Supervision and Administration Commission of the State Council launched a campaign and selected 100 subsidiaries of central state-owned enterprises (SOEs) and another 100 local SOEs to pilot the SOE reform. Ningbo COSCO Shipping Logistics is one of the two chosen subsidiaries of COSCO Shipping Group. Since then, it has started the mixed ownership reform, and introduced strategic investors and the employee shareholding platform. Hidden Hill Capital has continued to make equity investment in the logistics ecosystem, with a focus on companies employing cutting-edge technologies and business models, to enhance modern integrated logistics capacity, and pioneer an integrated logistics ecosystem. It has taken active participation in the mixed ownership reform of SOEs in traditional logistics fields such as aviation, sea and railway transportation, mapping investment blueprint and taking full advantage of resource integration effect in the logistics ecosystem, to enhance the value. This strategic equity investment will leverage both sides' respective advantages and empower them to set an example and accumulate experience for COSCO Shipping Group to push forward mixed ownership reform in an all-round way.

The DeHeng team, led by partners Li Zengli, Zhu Dan and Chen Yue, with primary support from lawyers and paralegals Zeng Yong, Lin Chengqun, Ouyang Ling, and Zhu Pei, provided professional, comprehensive and high-quality legal services for the strategic investment.