Zhejiang Shenguang Cultural Tourism Development Co., Ltd. completed the acquisition of 41% stake in Shanghai Shenguang Cultural Tourism Co., Ltd. from China Cyts Tours Holding Co., Ltd.
December 26, 2023
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Zhejiang Shenguang Cultural Tourism Development Co., Ltd. agreed to acquire 41% stake in Shanghai Shenguang Cultural Tourism Co., Ltd. from China Cyts Tours Holding Co., Ltd. (SHSE:600138) for CNU 102 .5 million on April 7, 2023. The deposit that Zhejiang Shenguang has paid to Shanghai United Assets and Equity Exchange is CNY 30 million which will be directly transferred to part of the price of this property right transaction after this contract takes effect. Zhejiang Shenguang shall transfer the rest of the property right transaction price of CNY 72.5 million within 5 working days after the effective date of this contract.
Zhejiang Shenguang Cultural Tourism Development Co., Ltd. completed the acquisition of 41% stake in Shanghai Shenguang Cultural Tourism Co., Ltd. from China Cyts Tours Holding Co., Ltd. (SHSE:600138) on December 27, 2023.
China CYTS Tours Holding Co Ltd is a China-based company principally engaged in the provision of comprehensive tourism services. The Company's main businesses include travel agency business, integrated marketing business, hotel business and strategic investment business. The travel agency business mainly includes sightseeing tours, vacation tours, and high-end tours. The integrated marketing business mainly includes event management, public relations communication, digital marketing, exhibitions, sports marketing and other sectors. The scenic spot business mainly includes Wuzhen Tourism and Gubei Water Town. The hotel business mainly includes the operation of CYTS Shanshui Hotel. The strategic investment business mainly includes information technology (IT) hardware agency and system integration business, welfare lottery technical service business and CYTS building leasing business. The Company mainly operates its businesses in the domestic market and overseas markets.
Zhejiang Shenguang Cultural Tourism Development Co., Ltd. completed the acquisition of 41% stake in Shanghai Shenguang Cultural Tourism Co., Ltd. from China Cyts Tours Holding Co., Ltd.