Western Investment Group Co., Ltd. entered into an Equity Transfer Agreement to acquire Ginwa International Hotel Co., Ltd. from Ginwa Enterprise (Group) Inc. (SHSE:600080) for CNY 344.5 million on December 15, 2022. As of December 28, 2023, Western Investment Group Co., Ltd. signed supplementary agreement to acquire Ginwa International Hotel Co., Ltd. from Ginwa Enterprise (Group) Inc. (SHSE:600080. The transfer price payment methodology has been changed. Western Investment Group Co., Ltd. paid CNY 125.71 million to the Ginwa Enterprise (Group) Inc. , including the already paid price of CNY 50 million, and the total payment was CNY 175.71 million. The remaining transfer amount of CNY 168.81 million will be paid by Western Investment Group Co., Ltd. to the company before December 31, 2024. Ginwa Enterprise (Group) Inc. board of directors approved the transaction. This transaction still needs to be submitted to the shareholders' meeting for review.

Western Investment Group Co., Ltd. completed the acquisition of Ginwa International Hotel Co., Ltd. from Ginwa Enterprise (Group) Inc. (SHSE:600080) on February 2, 2024.