CINESE INTL plans to sell all shares of BVTEHC Inc. for CAD 3 million

CINESE INTL announced that it will sell its wholly-owned subsidiary BVTEHC Inc. for CAD 3 million. Upon completion of the transaction, BVTEHC Inc. will no longer be a subsidiary of the company, and its financial performance will no longer be consolidated into the group's financial statements. Although the aviation and tourism industries have improved, the operating environment is expected to become more challenging due to passenger traffic not returning to pre-pandemic levels. The board believes that this transaction represents a good opportunity to sell the target company at a reasonable price, and the proceeds will be used to enhance the group's working capital