June 15，Huatian Hotel(000428.SZ) convened the sixth extraordinary meeting of the seventh board of directors in 2020，Deliberated and approved the "Proposal on the Establishment of the Subsidiary Hunan 188bet app Huatian Hotel Co., Ltd."，Agree to the company’s investment in establishing a subsidiary, Hunan Huatian Hotel Co., Ltd.，Registered capital 20 million yuan (the company name shall be subject to approval by the industrial and commercial registration authority)。

Name of the proposed subsidiary: Hunan 188bet app Huatian Hotel Co., Ltd.；Business scope: real estate development, operation and accommodation、Catering、Laundry、Property cleaning services and cigarettes、Cigar retail；Retail sales of daily necessities；Foot bath，Fitness service，Amusement Hall (Table Tennis Room、Billiard Room)，Parking service，Conference and exhibition services；Chess and Cards、Swimming pool、KTV box、Sauna、Haircut、Beauty；Operation and management of hotel assets (including acquisition of hotel assets、Investment、Sales、Leasing)；Prepackaged food、Food production、Processing；Food wholesale、Retail；Hotel Management Consulting Services；Information management platform service；(Projects subject to approval according to law，Business activities can only be carried out after approval by relevant departments)

The purpose of establishing a subsidiary is to strengthen company 188bet sports betting app download management，Clear the "responsibilities" of the corresponding management entities、Quan、profit”，The company plans to spin off Huatian Hotel (headquarters) from the parent company to a new subsidiary, Hunan 188bet app Huatian Hotel Co., Ltd., for independent operation，Conducive to the company's optimization of organizational structure，At the same time，Also meets the needs of the company’s business development。

188bet online sports betting ：Gelonghui，Original labelQuestion:《Huatian Hotel(000428.SZ) plans to spend 20 million yuan to establish a subsidiary, Hunan Huatian Hotel》