Zhangjiajie Industrial Investment (Holding) Co., Ltd. agreed to acquire Zhangjiajie Rural Tourism Development Co., Ltd. from Zhang Jia Jie Tourism Group Co., Ltd (SZSE:000430) for nil consideration on September 29, 2017. In related transactions, Zhangjiajie Industrial Investment (Holding) Co., Ltd. agreed to acquire Zhangjiajie Tourist Center Co., Ltd., Zhangjiajie Tea Industry Development Co., Ltd., and Zhangjiajie Tourism Zhongchuang Technology Co., Ltd.’s 47.5% stake for CNY 50.4 million, CNY 6.1 million, and CNY 0.5 million respectively from Zhang Jia Jie Tourism Group Co., Ltd. For the year ended December 31, 2016, Zhangjiajie Rural Tourism Development Co., Ltd. had nil total assets, nil net assets, nil revenue, nil operating profit, and nil net profit. The transaction is subject to the approval of the shareholders of Zhang Jia Jie Tourism Group Co., Ltd and was approved by its Board of Directors in the 10th meeting of 9th directorate held on September 29, 2017. Zhangjiajie Industrial Investment (Holding) Co., Ltd. cancelled the acquisition of Zhangjiajie Rural Tourism Development Co., Ltd. from Zhang Jia Jie Tourism Group Co., Ltd (SZSE:000430) on September 29, 2018.