December 14，China Duty Free Announcement，The company plans to acquire 100% equity of 188bet app download Asset Management Co., Ltd. Hong Kong held by 188bet app download Group Investment and Asset Management Co., Ltd., a wholly-owned subsidiary of 188bet app download Group, in a non-public agreement transfer，This transaction price 1.2.6 billion yuan。This transaction is to further promote the development of China Duty Free Business，Improve the company’s competitiveness，Resolve the horizontal competition problem between the company and its controlling shareholder China Tourism Group Co., Ltd.。

Announcement display，188bet app download Asset Management is a wholly-owned subsidiary of the company’s controlling shareholder, China Tourism Group，is a legal person related to the company。The registered capital of CTS Asset reaches 10.3.7 billion yuan，The legal representative is Wang Bin，Business scope includes project investment、Asset Management、Business Management Consulting、Software Development、Retail publications, etc.。As of December 31, 2020，The total assets of CTS Assets (on a consolidated basis) are 51.3.5 billion yuan，Net worth is 39.2.8 billion yuan，Operating income in 2020 is 4.9.2 billion yuan，Net profit is 5559.770,000 yuan。Among them，China Tourism Group is mainly engaged in travel services、Investment and Operation、Travel Retail、Tourism Finance、Hotel Operations、Innovation incubation and other businesses。

The registered capital of 188bet app download Service Hong Kong is 750.110,000 yuan，The legal representative is Zhu Ning，Business scope includes sales of tax-free foreign exchange commodities、Prepackaged food sales、Property Management、Investment and management of assets、Marketing and Planning、Import and export business, etc.。Among them，188bet app download Asset Management holds 100% equity of Hong Kong 188bet app download Asset Management Co., Ltd.。After this transaction is completed，Hong Kong 188bet app download Service Asset Co., Ltd. will become a wholly-owned subsidiary of China Duty Free Company，Included into the scope of the company’s consolidated statements。

It is reported，Hong Kong 188bet app download Service Asset Co., Ltd. has the qualification to operate tax-free foreign exchange commodities，Can operate foreign exchange duty-free shops，A duty-free shop in the city where you can return to your home country to repurchase。The company currently does not have this type of duty-free shop，After this transaction is completed，Helps the company further integrate tax-free resources，Consolidate and improve the company’s tax-free business layout。