YiChang Traffic & Tourism Industry Development Group Co.,Ltd and Yichang Urban Development and Investment Group Co.,Ltd agreed to acquire Yichang Jiaoyun Automobile Sales and Service Co., Ltd. and Hubei Tianyuan Supply Chain Co., Ltd. from Hubei Three Gorges Tourism Group Co., Ltd. (SZSE:002627) and Hubei Tianyuan Logistics Development Co., Ltd. for CNY 183.68 million on November 1, 2023. The target assets of this transaction are the 40% equity of the Automobile Sales Company held by Three Gorges Tourism and all its claims against Automobile Sales Company and its subsidiaries, and the 100% equity of Tianyuan Supply Chain held by Tianyuan Logistics. YiChang Traffic & Tourism Industry Development Group Co.,Ltd acquire 20% stake in Yichang Jiaoyun Automobile Sales and Service Co., Ltd. while Yichang Urban Development and Investment Group Co.,Ltd wil acquire 20% stake in Yichang Jiaoyun Automobile Sales and Service Co., Ltd. and 100% stakes in Hubei Tianyuan Supply Chain Co., Ltd. Transaction price and pricing basis After friendly negotiation between the two parties, and subject to meeting the conditions and methods stipulated in this agreement, the consideration for the transfer of the target assets was determined to be CNY 183.68 million. Hubei Three Gorges Tourism Group Co., Ltd. 5th meeting of the 6th board of directors to review and approve proposals related to this transaction. Tianyuan Logistics, the shareholder of Tianyuan Supply Chain, has made a shareholder decision and agreed to transfer 100% of the equity of Tianyuan Supply Chain held to Yichang Urban Development through a non-public agreement. The transaction is still subject to approval of Hubei Three Gorges Tourism Group Co., Ltd. shareholders and regulatory (Shenzhen Stock Exchange) approvals. The transaction was approved by Yichang Municipal Administration for Market Regulation.

YiChang Traffic & Tourism Industry Development Group Co.,Ltd and Yichang Urban Development and Investment Group Co.,Ltd completed the acquisition of Yichang Jiaoyun Automobile Sales and Service Co., Ltd. and Hubei Tianyuan Supply Chain Co., Ltd. from Hubei Three Gorges Tourism Group Co., Ltd. (SZSE:002627) and Hubei Tianyuan Logistics Development Co., Ltd. on December 15, 2023.