Jinjiang Hotel announced that it intends to transfer all of its shares in Shanghai Jichangkun, Shanghai Huaiyan, Shanghai Ehankun, and Shanghai Liaokun through a non-disclosure agreement. The total transfer price is RMB 207 million. After the equity transfer is completed, Shanghai Jinjiang International Hotel Investment Co., Ltd., a wholly-owned subsidiary of Jinjiang Hotels, will sign separate “Housing Lease Agreements” with Shanghai Ji Changkun, Shanghai Huaibiao, Shanghai Ehankun, and Shanghai Liao Kun to lease properties owned by the above 4 companies for hotel operations.

Jinjiang Hotel announced that it intends to transfer all of its shares in Shanghai Jichangkun, Shanghai Huaiyan, Shanghai Ehankun, and Shanghai Liaokun through a non-disclosure agreement. The total transfer price is RMB 207 million. After the equity transfer is completed, Shanghai Jinjiang International Hotel Investment Co., Ltd., a wholly-owned subsidiary of Jinjiang Hotels, will sign separate “Housing Lease Agreements” with Shanghai Ji Changkun, Shanghai Huaibiao, Shanghai Ehankun, and Shanghai Liao Kun to lease properties owned by the above 4 companies for hotel operations.