October 12，CITS United Co., Ltd. (hereinafter referred to as "CITS United" stock code: 600358) released the "Report on the Implementation of Major Asset Sales"，The subject asset of this major asset sale is 100% equity of Tangshan 188bet mobile login，Sold for 29,900.million yuan，After this transaction is completed，CITS United no longer holds equity in Tangshan 188bet mobile login。

Report display，188bet mobile login’s first listed asset for sale is priced at 39,056.090,000 yuan，The listing price of the underlying asset for sale for the second time is 33,200.million yuan，The listing price of the underlying asset for the third time is 28,600.million yuan。Within the third listing information release period，CITS jointly solicited a qualified intended transferee，And confirm its transfer qualification。The transaction price of the subject asset of this major asset sale is based on the final listing result，and determined to be RMB 29 after negotiation between the two parties,900.million yuan。

As understood，CITS United’s original main business was 188bet mobile login theme parks as its single main business line，Focus on the development, construction, operation and management of leisure and vacation projects with hot springs as core resources。Tangshan 188bet mobile login is the main operating entity of CITS United 188bet mobile login Hotel Business。After this transaction is completed，The company will exit the 188bet mobile login hotel business，And continue to adhere to the development strategy of outdoor sports and entertainment，Accelerate business transformation。

Extended reading:

Public information display，Tangshan 188bet mobile login was established in 2001，Yishang.Nanjing Tangshan 188bet mobile login Resort is the company’s key project，Based on this project，CITS United established its main 188bet mobile login development business in its 2007 annual report。Today，Tangshan 188bet mobile login is the main operating entity of CITS United 188bet mobile login Hotel Business，is the only major holding company of CITS United in 2016。

Tangshan 188bet mobile login was once the performance pillar of CITS United，But it has suffered losses in recent years。According to the major asset sale plan disclosed on July 1, Tangshan 188bet mobile login’s net profit accounted for the total ratio of CITS United has increased from 243 in 2015.99% reduced to 15.97%，The operating profit proportion and total profit proportion of Tangshan 188bet mobile login have also dropped significantly。

CITS United stated in the announcement，Due to the fierce competition in the 188bet mobile login hotel market in the area where Tangshan 188bet mobile login is located、And Tangshan 188bet mobile login’s heavy debt burden and other reasons，Tangshan 188bet mobile login’s main business continues to suffer losses，Therefore，The sale of relevant assets through this transaction will help appropriately reduce the risks of CITS joint operations，Enhance operating profitability。

*Source of this article: Qianlong.com, original title：《CITS jointly sells 100% equity of Tangshan 188bet mobile login，Quiting the 188bet mobile login hotel business》.