Zhejiang Sunriver Culture Co.,Ltd. (SHSE:600576) agreed to acquire 60% stake in Ya'an Oriental Bifengxia Tourism Co., Ltd. from Wuxi Youmu Chenghuai Tourism Culture Co., Ltd. for approximately CNY 410 million on July 20, 2023. In a related transaction Zhejiang Sunriver Culture Co.,Ltd. (SHSE:600576) agreed to acquire 20% stake in Ya'an Oriental Bifengxia Tourism Co., Ltd. from Chengdu Wanguan (Group) Real Estate Co., Ltd. for CNY 124 million. The total transaction price was CNY 406.32 million.

The acquirer will pay the transferor 30% of the total purchase price (CNY 121.89 million) within one working day after the "Acquisition Agreement" takes effect, offsetting CNY 13.72 million with the transferor's withdrawn cash dividend and paying the remaining CNY 58.16 million via bank transfer. Ya'an Oriental Bifengxia Tourism Co., Ltd. reported financials for March 31, 2023, total assets of 201.29 million and net assets of CNY 79.01 million. Zhejiang Sunriver Culture Co., Ltd. board of directors approved the transaction.

The transaction is approved by the shareholders of Zhejiang Sunriver on August 7, 2023.