Nanjing Textile Industry Cotton Textile Co., Ltd. signed an agreement to acquire Hong Kong New Tourism Corporation Limited from Nanjing Textiles Import & Export Corp., Ltd. for approximately CNY 180 million.

Nanjing Business & Tourism Corp Ltd is a China-based company mainly engaged in commercial trade business and tourism business. The Company operates its businesses through four segments. The Trading segment is mainly engaged in the export of textiles, clothing and mechanical and electrical products, the import of general chemicals and the domestic trade of cotton, clothing, building materials and other products. The Tour Services segment is mainly engaged in providing water cruise tour services. The Retail Department segment is mainly engaged in single-store department store retail business. In addition, the Company operates through its Manufacturing segment. The Company mainly conducts its businesses in the domestic market and overseas markets.