Beijing Tourism Group Co., Ltd. agreed to acquire an additional 10% stake in Beijing Shouqi (Group) Co., Ltd. from BTG Hotels (Group) Co., Ltd. (SHSE:600258) for approximately CNY 190 million on August 25, 2017. Prior to the transaction, Beijing Tourism Group Co., Ltd. held 77.73% stake and BTG Hotels (Group) Co., Ltd. held 10% stake in Beijing Shouqi (Group) Co., Ltd. After the transaction, BTG Hotels (Group) Co., Ltd. will hold no stake in Beijing Shouqi (Group) Co., Ltd. The transaction need not be submitted to the shareholders' meeting for consideration. The Board of Directors of BTG Hotels (Group) Co., Ltd. approved the transaction. Beijing Tianjian Xingye Assets Appraisal Co., Ltd. acted as the appraiser in the transaction.