BTG Hotels (Group) Co., Ltd. (SHSE:600258) agreed to acquire NUO Hotels Management Co., Ltd. from Beijing BTG Estate Co., Ltd. for approximately CNY 213 million on March 29, 2023. NUO Hotels Management has reported total assets of CNY 38.979 million and net assets of CNY 37.1681 million on October 31, 2022. As per the agreement, Within 5 working days after this agreement takes effect and the transferor obtains the "Enterprise State-owned Assets Transaction Certificate" from Beijing Equity Exchange, BTG Hotels (Group) Co., Ltd will pay [50%] of the target equity transaction consideration, which is CNY 99.6089 million.

Within 5 working days from the equity delivery date stipulated in Clause 4 of agreement, BTG Hotels (Group) Co., Ltd will pay [50%] of the target equity consideration, that is, CNY 99.6089 million. The board of BTG Hotels (Group) has approved the transaction and does not need to be submitted to BTG Hotels (Group)'s general meeting of shareholders for deliberation. As of April 24, 2023, board of directors of Beijing BTG Hotel (Group) Co., Ltd. approved the Adjusting the Acquisition Price.