---
title: "LN Holdings: Shanghai Shenshen International Travel failed to fulfill performance commitments, and the holding subsidiary received a performance compensation of 14.2521 million yuan"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/229558094.md"
description: "LN Holdings announced that its controlling subsidiary, Guangzhilv, has not fulfilled the performance commitments for the fiscal years 2022 and 2023 regarding the acquisition of Shanghai Shenshen International Travel Agency Co., Ltd. According to the ruling of the Guangzhou Arbitration Commission, the party responsible for the performance commitments is required to pay Guangzhilv a performance compensation of RMB 2.5682 million for the year 2022, RMB 3.1512 million for the year 2023, and a cumulative net profit assessment compensation amount of RMB 14.2521 million over three years. Additionally, they must pay legal fees of RMB 50,000, preservation fees of RMB 5,000, letter of guarantee fees of RMB 2,079.71, and bear arbitration fees of RMB 154,900. The above ruling is expected to have a positive impact on the company's profits in 2024 or subsequent years"
datetime: "2025-02-25T09:58:58.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/229558094.md)
  - [en](https://longbridge.com/en/news/229558094.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/229558094.md)
generator: "portal-rs"
---

# LN Holdings: Shanghai Shenshen International Travel failed to fulfill performance commitments, and the holding subsidiary received a performance compensation of 14.2521 million yuan

According to Jinshi Data on February 25, LN Holdings announced that its controlling subsidiary, Guangzhilv, has not fulfilled the performance commitments for the fiscal years 2022 and 2023 regarding the acquisition of Shanghai Shenshen International Travel Agency Co., Ltd. According to the ruling of the Guangzhou Arbitration Commission, the party responsible for the performance commitments must pay Guangzhilv a performance compensation of RMB 2.5682 million for the year 2022, RMB 3.1512 million for the year 2023, and a cumulative net profit assessment compensation of RMB 14.2521 million over three years. Additionally, they are required to pay legal fees of RMB 50,000, preservation fees of RMB 5,000, guarantee letter fees of RMB 20,797.1, and bear arbitration fees of RMB 154,900. The above ruling is expected to have a positive impact on the company's profits in 2024 or later

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> **Disclaimer: This article is for reference only and does not constitute any investment advice.**