According to the Xiangyuan Cultural Tourism announcement, the judicial auction of 106 million unrestricted tradable shares held by Anhui Xiangyuan, the controlling shareholder of Xiangyuan Travel Development, has been completed, and the target of the auction was Zhejiang Travel Investment Group. After completing the share transfer registration, the shareholding ratio of Anhui Xiangyuan will be reduced from 20.56% to 10.56%, the total shareholding ratio of controlling shareholders and co-actors will drop from 58.08% to 48.07%; Zhejiang Travel Investment Group's shareholding ratio will increase from 4.78% to 14.78%. This change in equity does not affect the proposed acquisition, does not change the controlling shareholder and actual controller, and is still subject to transfer registration.

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