Caesar Travel (000796.SZ)'s wholly-owned Sun Company was defrauded by a contract of 26.95 million yuan and has reported the case to the public security authorities

According to the Zhitong Finance App, Caesar Travel (000796.SZ) announced that recently, Caesar Tongsheng Cultural Industry Development (Beijing) Co., Ltd. (hereinafter referred to as “Caesar Cultural Products”), a wholly-owned subsidiary of the company, signed a performing arts service contract with the other party. Caesar Cultural Products paid the other party 26.95 million yuan in accordance with the agreement. During the execution of the business, Caesar Cultural Properties discovered that it was impossible to get in effective contact with the other party, suspected that the other party might be suspected of contract fraud, and immediately reported the case to the public security authorities. It has now received a “Notice of Case Filing” issued by the Nanhai Branch of the Foshan Public Security Bureau: Caesar Cultural Properties's case of contract fraud met the requirements for filing a case, and a case has now been opened for investigation.