Lijiang Xuechuan Tourism Service Co., Ltd. announced a private placement of common shares for gross proceeds of CNY 97 million on March 8, 2022. The transaction included participation from returning investor LiJiang YuLong Tourism Co., LTD. increasing its stake to 89.9%, Lijiang Yulong Snow Mountain Scenic Spot Investment Management Co., Ltd. increasing its stake to 10.10%. The registered capital of the company will increase from CNY 3,000,000 to CNY 111,227,498.

The transaction has been approved at the fifteenth meeting of the seventh board of directors of Lijiang Yulong Tourism Co., Ltd.