Yunnan Expo Tourism Group Holdings.,Ltd agreed to acquire Yunnan World Expo Horticulture Co., Ltd. from Yunnan Tourism Co., Ltd. (SZSE:002059) for approximately CNY 260 million on December 4, 2020. Under the terms of the transaction, 50% of the equity transfer consideration, which is CNY 132.292 million will be paid within 5 days from the effective date of this agreement and remaining 50% will be paid within 5 days from the date of receipt of the Yunnan World Expo Horticulture Co., Ltd.`s new "Business License". On December 4, 2020, Board of Directors of Yunnan Tourism Co., Ltd. approved the transaction in the 14th meeting of the seventh Board of Directors. The independent directors issued pre-approval opinions on the equity transfer and issued independent opinions. Transaction still needs to be approved by the shareholders of Yunnan Tourism Co., Ltd and a formal agreement will be signed post approval. For the year ended December 31, 2019, Yunnan World Expo Horticulture reported Total assets of CNY 1.715157 billion, Net assets of CNY 306 million, EBIT of CNY 16.265 million and Net loss of CNY CNY 8.387770 million. For the period ended June 30, 2020, Yunnan World Expo Horticulture reported Total assets of CNY 1.740723 billion, Net assets of CNY 314.430706 million, EBIT of CNY 595.337744 million and Net loss of 270.020839 million.

Yunnan Expo Tourism Group Holdings.,Ltd completed the acquisition of Yunnan World Expo Horticulture Co., Ltd. from Yunnan Tourism Co., Ltd. (SZSE:002059) on December 4, 2021. Which is an estimated date.