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Beijing Tourism: Tourism Hua sale fashion tour hotel management company progress

Date: 2013-06-30


Company onthe twenty-thirdmeeting ofthe fifthBoard of Directorsand the2013First ExtraordinaryGeneral Meeting"on thetourist industryin TianjinHuashengequity investmentpartnership(limited partnership)in consultationwith a third partyto signinto the conditionalfashion tourHotel ManagementCo., Ltd.Letter of Intentmatters suchequity transfermotion. "April 25, 2013,HuashengTourismEquityInvestment Partnership(Limited Partnership)(hereinafter referred to as"TourismHua")andShanghaiJin JiangInternational Hotels DevelopmentCo., Ltd.(hereinafter referred to as"Jin Jiang shares(600,754)")negotiatedsignedinto the conditionalfashion tourHotel ManagementCo., Ltd.(hereinafter referred to as"fashionjourney")equity TransferLetter of Intent(for details, seethe huge influx ofnetworkhttp://www.cninfo.com.cn/, 2013425announcement No.:2013-24).
June 14, 2013,HuaJin Jiangshareswith thesigning ofthe tourist industry, "fashion tourHotel ManagementCo., Ltd.Equity Transfer Agreement."(For details, seethe huge influx ofnetworkhttp://www.cninfo.com.cn/, 2013614announcement,Notice No.:2013-31)
1, the company inJune 30, 2013,receivedthe principalHuashengTourismFundallocated100 million yuan.
2,thebrigade headquartersfashionbusiness change procedureshave been completed.
Third, theimpact on the company
June 30, 2013, the company hasto recover the fullprincipal amount of100 million yuanand11.59 million yuaninvestment incomerecognition.According to the company, signed"TianjinHuashengTourismequity investmentpartnership(limited partnership)of thelimited partnership agreement," therelevant terms and"FashionTourHotel ManagementCo., Ltd.Equity Transfer Agreement", is expected toendthis year,Jinjiang shareswill bepaid in fullamountslater, the companyobtainedthe second half ofthe remaininginvestment incomeof approximately1200-1400million, andinvestment income is recognizedin theend of this year.The companywill be based onthe progress ofthe matterpromptly disclosethe situation.