February 11，Fengfen Holdings Co., Ltd. disclosed the progress of its investment in Jingyu Culture, the parent company of Lvmama Travel Network。

According to Guandian Real Estate New Media Report，On September 27th，Fufen Holdings has entered into a strategic cooperation agreement with Shanghai Jingyu Culture Communication Co., Ltd.，Will launch strategic cooperation in developing the cultural tourism and vacation market。Jingyu Culture’s businesses and subsidiaries include three major groups，Jijingyu Destination Operation Group、Lvmama Group and Jingyu Tourism Smart Economy Group。

December 26，Fufen Holdings Co., Ltd. issued 188bet online sports betting an announcement，With Shanghai Jingyu Culture Communication Co., Ltd.、Ningbo Zhongbang Industrial and Financial Holdings Co., Ltd. and Ningbo Zhongxin Wanbang Asset Management Co., Ltd.，Enter a memorandum of understanding on strategic cooperation on the proposed investment in Shanghai Scenic Area。

It is reported，Zhongbang Financial and third-party financial institutions enter into a limited partnership agreement，The scale of domestic establishment shall not exceed RMB 26.3.3 billion yuan equity investment fund，To invest in the tourism industry。The Fund intends to acquire interests from existing shareholders of Shanghai Jingyu，Or invest in Shanghai Jingyu by cash injection，Therefore，After the relevant investment is completed，The fund will own nearly 30% of the equity of Shanghai Jingyu。

According to the Memorandum of Understanding，Fufen Holdings agrees to purchase forward in the future，Purchase all interests in the fund from Zhongbang Real Estate and Finance Fund Partners before the expiration date of the fund term。

And in the latest announcement，Announcement by Fengsheng Holdings，The company on February 9、Class A limited partners、Class B limited partners enter into an agreement with the general partners。Accordingly，on the relevant settlement date，The company has conditionally agreed to the acquisition，The Class A limited partners and the Class B limited partners have each conditionally 188bet Online Sports Betting and Casino agreed to sell the Class A interests and Class B interests of the fund to Fullshare Holdings or its nominee。

It is reported，The above fund is Ningbo Fengdong Investment Management Partnership (Limited Partnership)，The objective of the fund is to invest in the target company or such other company or business as the partners may agree。The term of the fund is，Three years from the date of full payment of the capital commitment from the partners，However, all partners can extend the fund term by unanimous consent。

The maximum consideration for the acquisition is RMB 33.4.3 billion yuan，And shall be paid in cash by its internal resources to the Class A limited partners and Class B limited partners respectively on the relevant settlement date。Among them，Class A limited partners refer to China Merchants Securities Asset Management Co., Ltd.，Class B limited partners refer to Ningbo Zhongbang Industry and Finance Holdings Co., Ltd.。

Class A interests refer to the interests that Class A limited partners will hold in the Fund pursuant to the limited partnership agreement，Equivalent to about 56% of the total equity of the fund.9%；Class B interests refer to the interests that Class B limited partners will hold in the fund in accordance with the limited partnership agreement，Equivalent to approximately 43% of the total equity of the fund.0%。

General partner refers to Ningbo Zhongxin Wanbang Asset Management Co., Ltd.，It is mainly engaged in asset management、Private equity investment management and venture capital fund management。As of the date of this announcement，Fufen Holdings indirectly owns 9% interest in the holding company of the general partner。

Announcement display，The total capital commitment of the partners to the fund according to the limited partnership agreement is 26.3.3 billion yuan。188bet app download The general partner has committed to inject RMB 263.30,000 yuan (equivalent to a total commitment of about 0.1%）。Class A limited partners have committed to inject RMB 14.9.7 billion yuan (equivalent to a total commitment of about 56.9%），The Class B limited partners have committed to inject RMB 11.3.3 billion yuan (equivalent to a total commitment of approximately 43%).0%）。

The partners are discussing with relevant parties about investing in Shanghai Jingyu Culture Communication Co., Ltd. (one of the target businesses of the fund) to acquire equity in the target company。

Data display，The target company is engaged in tourism and vacation business，A one-stop O2O service provider for China’s tourism industry。Its "Lvmama Travel Network" is a well-known online travel agency in China。The purpose of the fund is to seek benefits from the target company and/or other businesses within the target business during the fund term。

188bet sports betting app download Title：《Fengfeng 33.4.3 billion acquisition of fund equity to invest in Jingyu, the parent company of "Donkey Mama"》.