Davis Polk is advising Morgan Stanley Asia Limited as one of the joint financial advisers to China National Building Material Company Limited (“CNBM”) on its proposed merger by absorption of China National Materials Company Limited (“Sinoma”). The proposed merger will be effected through a securities exchange offer under which CNBM will issue new shares in exchange for all of the issued Sinoma shares at an agreed exchange ratio. The proposed merger is conditional on, amongst other things, approval of shareholders of both companies and regulatory consent.

CNBM, a state-owned enterprise, is a joint stock company incorporated in the PRC with limited liability and whose H shares are listed and traded on the Hong Kong Stock Exchange. CNBM Group is mainly engaged in the cement, lightweight building materials, glass fiber, composite materials and engineering services businesses. Sinoma, a state-owned enterprise, is a joint stock company incorporated in the PRC with limited liability and whose H shares are listed and traded on the Hong Kong Stock Exchange. Sinoma Group is mainly engaged in cement equipment and engineering services, glass fiber, cement and high-tech materials business.

The Davis Polk corporate team includes partner Paul Chow and counsel Yang Chu. All members of the Davis Polk team are based in the Hong Kong office.

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