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Huatian Hotel: Hunan Sports Industry Group plans to acquire a 32.48% stake in the company through a gratuitous transfer.
Huatian Hotel Announcement: Hunan Sports Industry Group Co., Ltd. intends to acquire a 95% stake in Hunan Tourism Group through a transfer of state-owned equity at no cost, thereby indirectly controlling 32.48% of Huatian Hotel’s shares. This acquisition is still subject to antitrust review for operator concentration and the completion of the business registration procedures for the transfer of 95% equity in Hunan Tourism Group to Hunan Sports Industry Group.