November 29，According to the announcement issued by Jingshang Travel，According to the group’s development strategy，To expand the company’s business，Enhance the company's profitability，Jingshang Tourism plans to establish a joint-stock subsidiary“Ivy Destination Cultural Tourism Development Co., Ltd.”，Mainly engaged in accommodation services，Catering Services，Commercial performance、Scenic Area Management、188bet app download Business Management、Property Management、Business Consulting Services、Advertising production and distribution、Technical services and other related businesses，Registered address to be determined，Registered capital is 10 million yuan，Among them, Jingshang Tourism invested 4.9 million yuan，Accounting for 49% of registered capital；Hainan Huanzhe Enterprise Management Consulting Partnership invested 5.1 million yuan，Accounting for 51% of registered capital。

Company representation，This foreign investment to establish a company is mainly based on the needs of the company’s business development，Expand company business，Enhance the company's profitability。

According to the announcement，The company’s 2020 audited consolidated financial statements and total assets at the end of the period 13.7.6 billion yuan，Net worth 4.1.1 billion yuan。The amount of this external investment transaction 188bet sports betting app download is RMB 4.9 million，Accounting for 0 of the total assets at the end of the period.36%，1 of the net assets at the end of the period.19%，Failed to meet the criteria for a major asset reorganization，Therefore, this external investment does not constitute a major asset reorganization。