Shanghai Jin Jiang International Hotels Development Co., Ltd. (SHSE:900934) entered into the equity transfer agreement to acquire remaining 3.49825% stake in Keystone Lodging Holdings Limited from Fortune News International Limited and Zheng Nanyan for approximately CNY 350 million on June 29, 2021. Post transaction, Shanghai Jin Jiang International Hotels Development Co., Ltd. will have 100% stake in Keystone Lodging Holdings Limited. Keystone Lodging Holdings Limited reported revenue of CNY 2.84 billion, profit before tax of CNY 336.4 million, profit after tax of CNY 241.4 million and net assets of NCY 4.27 billion for the year ended December 31, 2020. The transaction has been unanimously approved by Board of Directors of Shanghai Jin Jiang International Hotels Development Co., Ltd. (SHSE:900934).