June 12，OCT (Asia) Holdings Co., Ltd. issued an announcement，On the same day，Shenzhen Huayou, an indirect wholly-owned subsidiary of the company, entered into an equity transfer agreement with Happy Valley Cultural 188bet sports betting app download and Partnership，Accordingly，Shenzhen Huayou has agreed to transfer 1% of the equity in the partnership to Happy Valley Cultural 188bet sports betting app download (equivalent to Shenzhen Huayou’s investment of RMB 3 million according to the limited partnership agreement)，The consideration is approximately RMB 3 million。

After the transfer is completed，Shenzhen Huayou will own 43% of the equity of the partnership，The total amount of capital subscribed is RMB 1.2.9 billion yuan。Happy Valley Cultural 188bet sports betting app download will own 1% of the equity of the partnership，The total amount of capital subscribed is RMB 3 million。

Announcement Disclosure，On April 30, 2020，The book value 188bet sports betting app download partnership is approximately RMB 300 million，Same as the assessed value 188bet sports betting app download partnership on April 30, 2020 as stated in the valuation report issued by an independent and qualified Chinese valuer。Since the consideration is the same as the book value of 1% equity 188bet sports betting app download partnership on April 30, 2020 (i.e. RMB 3 million)，Therefore, the Group does not expect to record any net income or net loss from the transfer after completion 188bet sports betting app download transfer。

OCT Asia Express，The board of directors intends to use the proceeds from the transfer for working capital。Happy Valley Cultural 188bet sports betting app download is China’s leading theme park construction、One of the operations and management companies，Accepting Happy Valley Cultural 188bet sports betting app download as a partner can broaden the source channels of cultural 188bet sports betting app download investment targets for the partnership，And help the partnership make investment decisions in related industries。

*Source of this article: Guandian Real Estate Network, original title: "OCT Asia plans to transfer 1% of the equity of the partnership to Happy Valley Cultural 188bet sports betting app download for RMB 3 million》。