December 24，China Travel Service Hong Kong issued an announcement saying，On December 24, 2021，China Travel Logistics Investment, a wholly-owned subsidiary of the Company, entered into a construction contract with the contractor，Accordingly，China Travel Logistics Investment agrees to hire a contractor to carry out the construction project，The estimated contract total is 8.HKD 23。

According to the announcement，The scope of the construction project includes the construction of a 28-storey business boutique hotel and its supporting facilities on the Hung Hom site，The total construction area is about 2.760,000 square meters，The total building 188bet app area is approximately 1,644 square meters。The project scope includes the main construction project、Structural Engineering、Building exterior wall project、Building Assembly Services、Interior decoration project、Landscape Engineering、Earthworks and other related projects, etc.。Estimated completion on November 3, 2023。The total contract amount under the construction contract is estimated to be 8.HK$2.3 billion，Based on the actual construction period with reference to the final accounts prepared by the quantity surveyor under the construction contract、Adjustments will be made to the construction projects undertaken and the current market prices of labor and materials in Hong Kong。

As understood，According to the terms of the construction contract，The contractor must provide a performance guarantee to China Travel Logistics Investment Co., Ltd. using a performance guarantee form issued by a bank or insurance company， To guarantee its proper performance of its obligations under the construction contract。Performance guarantee amount is about 3432.HKD 80,000，Equivalent to 10% of the estimated contract total less all major costs。

188bet app download Due to the easing of the COVID-19 epidemic，The overall performance of the Group’s hotel business has improved。First half of 2021，The group’s hotel business revenue increased by approximately 51% compared with the same period last year，Accounting for 19% of the Group’s total revenue.9%。Considered location for new hotel、Rail transportation system and sea view resources，The Board of Directors believes that the construction project under the construction contract will position the proposed new hotel in the mid-to-high-end market，Ability to earn higher revenues and reach a wider business and leisure customer base。This is in line with the Group’s revitalization and optimization of existing assets、Improve operational efficiency、Business strategies to unlock land value and development potential。

It is reported，The Group’s main business includes operating tourist destinations (including hotels)、Theme Park、Natural and cultural scenic spots and leisure resorts)、Travel documents and related services、Passenger transport business, etc.。Among them，China Travel Logistics is a limited company incorporated in Hong Kong，is a wholly-owned 188bet Online Sports Betting and Casino subsidiary of the company，Mainly engaged in property development、Property leasing and investment holding business。The contractor is a limited company incorporated in Hong Kong，Mainly engaged in building construction and repair and maintenance business。