Zhejiang Shenguang Cultural Tourism Development Co., Ltd. completed the acquisition of 41% stake in Shanghai Shenguang Cultural Tourism Co., Ltd. from China Cyts Tours Holding Co., Ltd.

China CYTS Tours Holding Co Ltd is a China-based company principally engaged in the provision of comprehensive tourism services. The Company's main businesses include travel agency business, integrated marketing business, hotel business and strategic investment business. The travel agency business mainly includes sightseeing tours, vacation tours, and high-end tours. The integrated marketing business mainly includes event management, public relations communication, digital marketing, exhibitions, sports marketing and other sectors. The scenic spot business mainly includes Wuzhen Tourism and Gubei Water Town. The hotel business mainly includes the operation of CYTS Shanshui Hotel. The strategic investment business mainly includes information technology (IT) hardware agency and system integration business, welfare lottery technical service business and CYTS building leasing business. The Company mainly operates its businesses in the domestic market and overseas markets.