Message on January 21st，Huangshan Tourism recently issued an announcement，In order to further increase the integration of the 188bet sports betting existing Anhui cuisine catering business，Improve management efficiency，And on this basis, we will further accelerate the development of the 188bet sports betting Anhui cuisine catering business，The company held the seventh meeting of the eighth board of directors on January 18, 2022，Deliberated and approved the "Proposal on the Internal Transfer of Equity in Wholly-Owned Subsidiaries"，Agreed to transfer 100% of the equity of Huizhou Merchants Hometown Cultural Development Group Co., Ltd. held by the company to the company's wholly-owned subsidiary Huangshan Huizhou Merchants Hometown Company for free。After the completion of this equity transfer，Huishang Hometown Culture Company will become a wholly-owned subsidiary of Huangshan Huishang Hometown Company。

As understood，Resolution of the fourth meeting of the 188bet sports betting eighth board of directors on October 8, 2021，The company invested and established Huangshan Huishang Hometown Cultural Development Co., Ltd. with its own funds，Registered capital is 100 million yuan，The company invested 100 million yuan in cash，Accounting for 100% of the registered capital of the newly established company。Huangshan Huishang Hometown Company has completed industrial and commercial establishment registration on October 20, 2021。The 188bet sports betting business scope includes organizing cultural and artistic exchange activities，Conference and exhibition services，Enterprise Management，Technology Development，Retail sales of edible agricultural products，Internet sales, etc.。

Among them，Huizhou Merchant Hometown Cultural Development Group Co., Ltd. was established on August 7, 2002，Registered capital is 50 million yuan，Business scope includes organizing cultural and artistic exchanges，Organizing exhibitions and display activities，Technology Development，Manufacturing and selling Chinese food，Selling wine、Drinks, etc.。The 188bet sports betting holds 100% equity of Huizhou Merchant Hometown Culture 188bet sports betting，After this equity transfer，Huangshan Huizhou Merchants Hometown 188bet sports betting will hold 100% equity of Huizhou Merchants Hometown Culture 188bet sports betting。As of September 30, 2021，Total assets of Huizhou Merchant Hometown Culture 188bet sports betting 1.8.2 billion yuan，Net worth 2575.360,000 yuan；Achieve operating income of 9784 from January to September 2021.590,000 yuan，Net profit 247.40,000 yuan。

According to the announcement，This equity transfer aims to further optimize the 188bet sports betting resource allocation，Integrate the 188bet sports betting existing Anhui cuisine catering business，Strengthen business control，Improve management efficiency，And on this basis, we will further accelerate the development of the 188bet sports betting Anhui cuisine catering business。This equity transfer will help the company make full use of Huangshan’s rich local resources of raw materials and agricultural and sideline products，Further expand the brand and market value of Huizhou merchants’ hometown，Further expand and strengthen the Anhui cuisine catering sector，Enhance the 188bet sports betting comprehensive competitiveness and sustainable development capabilities，In line with the 188bet sports betting long-term planning and development strategy。