Sunriver Culture Tourism: Consortium wins bid for the Yuewang Valley Cultural Tourism Area project in Shengzhou
Sunriver Culture Tourism, together with related parties, formed a consortium to win the bid for the Yuewang Valley Cultural Tourism Area project in Shengzhou City, and will acquire a 22% equity stake in the project company through capital increase and share expansion. The wholly-owned subsidiary, YuanKun Tourism, will jointly establish an operating company with Shanshui Cultural Tourism and Xiangfu Rui, responsible for the project's operational management, with a registered capital of 10 million yuan. YuanKun Tourism and Xiangfu Rui will each contribute 3.3 million yuan, holding 33% of the shares; Shanshui Cultural Tourism will contribute 3.4 million yuan, holding 34% of the shares. The establishment of this joint venture operating company constitutes a related party transaction
According to the Zhitong Finance APP, Sunriver Culture Tourism (600576.SH) announced that the company, together with related parties, formed a consortium to win the bid for the Shenzhou Yuewang Valley Cultural Tourism Area project, and will acquire a 22% equity stake in the project company through capital increase and share expansion.
At the same time, the company's wholly-owned subsidiary, YuanKun Tourism, will jointly establish an operating company with Shanshui Cultural Tourism (or its designated entity) and Xiangfu Rui, specifically responsible for the operation and management of the targeted project. The registered capital of the operating company is 10 million yuan, of which YuanKun Tourism intends to invest 3.3 million yuan, holding a 33% equity stake in the operating company; the related party Xiangfu Rui intends to invest 3.3 million yuan, holding a 33% equity stake in the operating company; the controlling shareholder of the purchasing unit, Shanshui Cultural Tourism (or its designated entity), intends to invest 3.4 million yuan, holding a 34% equity stake in the operating company. The establishment of this joint venture operating company constitutes a related party transaction
