Zhejiang Sunriver Culture Co.,Ltd. (SHSE:600576) agreed to acquire 20% stakes in Ya'an Oriental Bifengxia Tourism Co., Ltd. from Chengdu Wanguan (Group) Real Estate Co., Ltd. for approximately CNY 120 million on July 20, 2023. In a related transaction, Zhejiang Sunriver Culture Co.,Ltd. (SHSE:600576) agreed to acquire 60% stakes in Ya'an Oriental Bifengxia Tourism Co., Ltd. from Wuxi Youmu Chenghuai Tourism Culture Co., Ltd for CNY 406.32 million. First installment (30% of total transfer price - CNY 37.2 million) to be paid within 3 working days of meeting conditions.

Remaining transfer price (CNY 86.8 million) due within 3 working days after conditions are met as per Equity Transfer Agreement. Ya'an Oriental Bifengxia Tourism Co., Ltd. reported financials for March 31, 2023, total assets of 201.290 million and net assets of CNY 79.01 million. Zhejiang Sunriver Culture Co.,Ltd. board of directors approved the transaction.

The transaction is approved by the shareholders of Zhejiang Sunriver on August 7, 2023.