October 22，China Culture and Tourism Group submitted its prospectus for the fourth time，The listing process is currently progressing as usual。As understood，China Cultural Tourism Group recently officially changed its name to “Greater Bay Area Cultural Tourism Kangju Co., Ltd.”，Full English name“GBA Cultural Residence Holdings Limited ”。

Stated by the Greater Bay Area Cultural Tourism Group，The company is based in the Guangdong-Hong Kong-Macao Greater Bay Area，Comply with the integrated development trend of the Greater Bay Area，Achieve excellent results in cultural tourism business。Future，The company’s business will continue to be based in the Guangdong-Hong Kong-Macao Greater Bay Area，Radiating national and overseas markets，Focus on and strengthen cultural tourism business，Build a first-class cultural tourism operation platform。

Displayed in the prospectus，Greater Bay Area Cultural Tourism Group is a developer of resort properties located 188bet app in cultural tourism experience locations，These properties are mainly located in Jiangmen and other areas in China that the Group believes have development potential。At the same time，Engaged in a series of cultural tourism businesses，If providing services related to cultural tourist attractions，Hotel services included、Attraction consulting services and attraction management services，Hotel consulting and management services and travel agency services。Among them，Cultural tourism projects that have been put into operation include Enping Quanlin Golden Town、Aoyuan Yingde Chocolate Kingdom、Zhongshan Quanlin Happy World and other projects。

It is reported，Vacation property development becomes the core business segment of the group，Most of the resort property development projects located in the golden town of Quanlin, a cultural tourist resort, are proposed for sale，Some projects are used for their own operations or investments。On August 31, 2021，The Group has a portfolio of 18 resort property development projects in Enping，11 of them are completed、3 projects are under development，4 projects are held for future development。

Three years ended December 31, 2020 and five months ended May 31, 2020 and 2021，The income from China’s cultural tourism business is approximately 67.7 million yuan respectively、1.4.2 billion yuan、1.1.9 billion yuan、$31.7 million and $41.1 million。Among them，As of December 31, 2018，Proceeds from sales 188bet app of vacation properties approximately RMB 2.6.7 billion yuan，As of December 31, 2019, the income from vacation properties is approximately RMB 5.9.4 billion yuan，And further increased to approximately RMB 8 for the year ended December 31, 2020.4.8 billion yuan。Overall increase in revenue from sales of vacation properties，Mainly due to the increase in the total gross floor area of ​​vacation properties sold and delivered。

Revenue from cultural tourism business increased from approximately RMB67.7 million for the year ended December 31, 2018 to approximately RMB1 for the year ended December 31, 2019.4.2 billion yuan。For the two years ended December 31, 2019，Increase in revenue from cultural tourism business，Mainly due to the launch of cultural tourism business in May 2018 and the award of more tourist attraction consulting service contracts。Among them，Revenue generated from the cultural tourism business for the year ended December 31, 2019 was approximately RMB 1.4.2 billion yuan reduced to approximately RMB1 for the year ended December 31, 2020.1.9 billion yuan。

Gross profit，Three years ended December 31, 2020 and five months ended May 31, 2020 and 2021，China Cultural Tourism recorded gross profit of approximately 1.500 million yuan、3.1.9 billion yuan、3.6.6 billion yuan、$20.4 million and $86.8 million，The gross profit margin during the same period was approximately 44.8%、43.3%、37.9%、39.0%&27.2%。

Group representation，The Group’s success and ability to seize future growth opportunities are attributable to the following key competitive advantages: 188bet online sports betting As most of its resort properties and land bank are strategically located in Enping, Jiangmen (which is part of the Greater Bay Area)，Already in a favorable position，Benefit from the national strategy of coordinated development in the Greater Bay Area；Integrate various cultural tourism features and elements into resort property development projects，will enable the Group to capture the expected growth in demand for resort properties with cultural tourism features and elements；Successfully purchased at a competitive cost based on recent property prices，Strategically identify and acquire land parcels in the area for development；Has a senior management team to manage resort property development and cultural tourism business；Effective project management and quality monitoring。

To further strengthen our position，The group plans to adopt the following strategy: continue to develop a property portfolio focusing on cultural tourism on its existing land bank；Continue to expand our project portfolio in the Greater Bay Area and other areas of China where we currently have no presence；By expanding the scope of cultural tourism services and promoting the diversified development of cultural tourism business，And apply the successful experience of Quanlin Golden Town to other regions in China，To sustainably develop cultural tourism business；Grow cultural tourism business by seizing appropriate strategic acquisition opportunities。