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 investment, operation and management of cultural tourism destinations and comprehensive cultural and tourism services. The Company operates five segments. Tourism Products and Services segment mainly provides travel services such as group tours and independent travel. Integrated Marketing Services segment mainly provides services such as public relations communication, sports marketing, conference management, and exhibitions. Hotel Business segment is mainly engaged in the investment and operation management of hotel chains. Scenic Spot Management and Real Estate Sales segment mainly provides scenic spot tours, rural vacation tourism services, and engages in real estate sales. Information technology (IT) Product Sales and Technical Services segment mainly sells IT infrastructure products such as media switching servers, routers, and monitoring equipment and provides welfare lottery technical services.
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.