Xi'an Shanhe Tourism Development Co., Ltd. agreed to acquire 51% stake in Xi'an Shanhe Scenic Area Operation Management Service Co., Ltd. from Xi'an Qujiang Cultural Tourism Co., Ltd. for CNY 2.3 million.

XI' AN QUJIANG CULTURAL TOURISM CO., LTD. is a China-based company principally engaged in the operation of cultural tourism business. The Company's principal businesses include the operation of scenic areas, the hotel catering business, the sales of travel products, the travel agency services and the landscaping business. The Company mainly operates its business in Shaanxi Province, China.