Recently, there has been an online rumor circulating regarding Mei Xiangrong, the founder of Beijing Yingke Law Firm, allegedly misappropriating company legal fees for financing and guarantees, leading to a financial scandal involving 4 billion yuan. On the night of March 11th, the law firm announced that Mei had resigned from all positions, stating that his issues were unrelated to the firm’s business activities. Mei Xiangrong has reportedly surrendered to authorities, but the exact amount of funds involved remains uncertain.
According to mainland Chinese media reports, on the evening of March 10th, a screenshot of an online chat revealed that Mei Xiangrong had “misappropriated legal fees for financing and guaranteed responsibility.” The content indicated that Mei, who held various key positions within Yingke Law Firm, had used legal fees for financing exceeding 4 billion yuan and provided guarantees.
In a late-night statement on March 11th, Yingke Law Firm clarified that Mei Xiangrong had resigned from all positions and that the issue stemmed from his family’s business ventures, not the firm’s operations. The law firm’s various business activities are said to be operating normally despite the situation.
Sources informed The Paper that Mei Xiangrong had voluntarily surrendered to the police, but the exact amount of funds involved is still unknown. Both the Beijing Judicial Bureau and Beijing Bar Association have sent officials to Yingke Law Firm in Beijing.
Another unnamed lawyer corroborated the events, stating, “The situation is real. Yingke has expanded rapidly in recent years, with a significant increase in the number of lawyers, leading to a mix of good and bad elements. There is a substantial amount of money in Yingke’s accounts, such as rent for increased office space due to more lawyers. Some lawyers often wait until the end of the year to withdraw funds, and there are often millions in agency fees left in Yingke’s accounts. Unlike other law firms, Yingke has also issued shares to lawyers in the past, priced at over ten thousand yuan per share, participating in annual dividends. Ultimately, these funds have provided convenience to Mei.”
According to 21st Century Business Herald, individuals related to Yingke Law Firm have confirmed that the main entity involved in the incident is Shanghai Winco Enterprise Management Co., which, from an equity perspective, has no association with Yingke Law Firm.
Yingke Law Firm’s relevant individuals stated that the financing activities were a commercial endeavor at the family level of Mei Xiangrong and were unrelated to the firm’s operations. The Yingke Global Board of Directors has reviewed the financing agreement signed by Mei Xiangrong, with the financing amount confirmed to be 1 billion yuan, not the rumored 4 billion yuan. This 1 billion funds are not secured by Yingke Law Firm’s assets but may involve leveraging the firm’s reputation for trust.
Additionally, Yingke Law Firm’s official account, “Yingke Legal Microscope,” announced personnel changes on March 11th, with post-80s generation Li Jingwu replacing Mei Xiangrong as the Chairman of Yingke’s Global Board of Directors effective March 10th.
Currently, Mei Xiangrong’s personal resume information is no longer available on Yingke Law Firm’s official website.
Established in 2001, Yingke Law Firm is headquartered in Beijing and has 127 law offices and one joint venture law office in the Guangdong-Hong Kong-Macao Greater Bay Area. The firm employs over 25,200 staff nationwide, including more than 19,400 lawyers. Since 2022, Yingke Law Firm has continuously ranked first in Global 200’s global lawyer headcount rankings.
Mei Xiangrong, the founder of Yingke Law Firm, was born in 1972 in Taizhou City, Jiangsu Province. He graduated from Tsinghua University’s Department of Automotive Engineering in 1995, obtaining a Bachelor of Engineering from Tsinghua University and an EMBA from Peking University Guanghua School of Management.