The Board announced that, on 29 September 2017, China Investments Holdings Limited entered into the investment agreement with T-Box Union (China) Financial Holdings Investments Limited (“T-Box Holdings”) and T-Box Union Investments Limited (“T-Box Investments”) for the establishment of the JV Company to engage in the platform operation, investment and management of the homestay accommodation and hotels and other related businesses in the PRC. The initial share capital of the JV Company will be HKD 12,000,000, which will be contributed as to 51% by China Investments, 30% by T-Box Holdings and 19% by T-Box Investments respectively. Within the three years after the JV Company and its project company in the PRC commence business, China Investments will provide credit support for future financing of up to RMB 75,000,000.