Hainan Tourism Investment Development Co., Ltd. signed the share transfer agreement to acquire 16.85% sake in Beijing Qianjing Landscape Co.,Ltd (SHSE:603778) from Hui Quanfu and Yang Jing for approximately CNY 590 million on March 11, 2022.. Hainan Tourism Investment will acquire 108,295,827 shares in the Beijing Qianjing at the price of CNY 5.36 from Yang Jing and Hui Quanfu which currently hold 13.2% and 3.7% stake in Beijing Qianjing Landscape. Transaction have been reviewed and approved at the 23rd meeting of the 4th Board of Directors and the 18th meeting of the 4th Board of Supervisors. Transaction is subject to approval of company's general meeting of shareholders along with Anti-Monopoly Bureau of the State Administration for Market Regulation and The state-owned assets supervision and administration department and China Securities Regulatory Commission. Citic Securities Co., Ltd. accepted Hainan Tourism Investment Development Co., Ltd.'s entrustment to act as its financial advisor for the acquisition


Hainan Tourism Investment Development Co., Ltd. cancelled the acquisition of a 16.85% sake in Beijing Qianjing Landscape Co.,Ltd (SHSE:603778) from Hui Quanfu and Yang Jing on June 30, 2022. As of June 30, 2022, Hui Quanfu and Yang Jing have not received Hainan Tourism Investment's approval from the Hainan Provincial State-owned Assets Supervision and Administration Commission. Therefore, the "Share Transfer Agreement" between the two parties does not take effect and the transaction is terminated.