November 23，188bet online sports betting Co., Ltd. (referred to as "188bet online sports betting") issued an announcement on the Beijing Financial Assets Exchange，Split the equity assets of 3 participating companies。

Announcement，188bet online sports betting plans to transfer its total holdings to Nanjing Congress Investment Real Estate Co., Ltd. 29.09% equity，Free transfer to Nanjing Anju Construction Group Co., Ltd.；Plans to transfer 8% equity of Nanjing Zijin Financing Guarantee Co., Ltd. and 10% equity of Nanjing State-owned Assets Disposal Co., Ltd.，Free transfer to Nanjing Zijin Investment Group Co., Ltd.。

The above transfer matters were made based on the overall arrangements of the Nanjing State-owned Assets Supervision and Administration Commission，Approved by the interim board of directors of 188bet online sports betting on November 22nd。After the free transfer of equity is completed，188bet online sports betting will no longer hold equity in the above three companies。

The equity transfer will affect the asset impairment of 188bet online sports betting.

according to announcement，As of the end of 2017,Nanjing Congress Investment Real Estate Co., Ltd. 29.09% equity、The book values ​​of 8% equity of Nanjing Zijin Financing Guarantee Co., Ltd. and 10% equity of Nanjing State-owned Assets Disposal Co., Ltd. are 3,828.48 million yuan respectively、3797 million yuan and 100.million yuan，The above asset transfer will reduce the net assets of 188bet online sports betting by a total of 725.48 million yuan，Accounting for 1% of the audited consolidated net assets of 188bet online sports betting at the end of 2017.35%；The total assets of 188bet online sports betting will be reduced by 725.48 million yuan，Accounted for 0% of the audited consolidated total assets of 188bet online sports betting at the end of 2017.7%。

according to official website，Currently，188bet online sports betting registered capital 16.100 million yuan，Total assets 372.100 million yuan，Net worth 130.900 million yuan。

About the impact of divestment of assets on asset impairment，Introduction to 188bet online sports betting，This will not affect its main business income、Net profit。Asset transfer will also not affect the daily management of the company、Production and Operation、Material adverse impact on financial situation and solvency。

188bet online sports betting was established on December 12, 2017，It is a wholly state-owned company directly under the Nanjing Municipal Government，Is the only local state-owned enterprise in Nanjing selected into the "Double Hundred Action" list of the State Council's state-owned enterprise reform，Business involves tourism development、Business Exhibition、Hotel Management、Tourism Operations、Tourism Finance、Six major sectors of culture and entertainment。

According to the news released by 188bet online sports betting on November 13，Since its establishment，188bet online sports betting and its subsidiaries make frequent capital moves。

according to official website，First quarter of 2018，188bet online sports betting and Xiamen Xinxin Information Co., Ltd., a subsidiary of Tempus Group, jointly invested in the establishment of Nanjing Mochou Smart Tourism Co., Ltd. (referred to as "Mochou Tourism")；Third Quarter ，188bet online sports betting invested and established Nanjing Tourism Co., Ltd.，Whole-owned subsidiary Nanjing Jinlv Investment Development Co., Ltd. and Shanghai Debi Group jointly established Nanjing Jinlv Debi Cultural Innovation Development Co., Ltd.，Mochou Travel invested in the establishment of Nanjing Mochou Travel Agency Co., Ltd. and Nanjing Zhiji Travel Agency Co., Ltd.；Also，In 2018，188bet online sports betting invested in the acquisition of Nanjing Zhongbei Friendship International Travel Service 31.43% equity，Invest in Nanjing Ningyi Industrial Co., Ltd. 9.98% equity，Invest and acquire 20% equity of Jinfan Hotel Management Company，Established Nanjing Purple Villa Hotel Management Co., Ltd., etc.。

*Source of this article: Beijing News，Author: Wang Qingbin，Original title: "188bet online sports betting divested 3 joint-stock companies and suffered asset impairment of RMB 725.48 million》.