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With the continuous development of Feilo's international business, the importance and complexity of overseas legal affairs management have been highlighted. In order to integrate the resources of international law firms of Feilo headquarter and its overseas affiliates, enhance the quality and management efficiency of external law firms and give play to the advantage of group bargaining, in December of this year, Feilo Legal Department cooperated with Feilo Sylvania Legal Department organized the bidding for international legal business and established an international law firm bank.

On December 1, on the second day after Feilo announced the completion of the acquisition of the remaining 20% stake in Sylvania, Feilo Legal Department issued formal tender letters to several well-known international law firms to choose a global operation law firm to meet the company's external legal service needs in more than 40 countries and provide legal services from corporate restructuring, tax law, labor law, litigation, product recalls, competition law, labor law, data protection legislation to compliance system construction.

From December 11 to December 15, Feilo legal department organized a number of international law firm biddings. A bid evaluation team of company leaders attended the bidding. In the bidding, the various law firms introduced their business scope and performance, distribution of global office locations, value-added services and experience of service lawyers. They also answered in detail our questions about experience in related fields, handling of interest conflicts, unique value contribution to the company, premium rates and discounts.

After careful evaluation and selection by the bid evaluation team, DLA Piper, Baker & McKenzie, Freshfields and R?dl were selected for Feilo 2018 international law firm bank. Through the establishment of an international law firm bank, the Company strengthened the management of the employment of international law firms, further enhanced demand docking with law firms, and achieved the goal of cost saving through group bargaining.