May 11，Huada Hotel announced，On May 11, 2022，Shunhao Construction (Group) Co., Ltd., a direct wholly-owned subsidiary of Huada Hotel, entered into a sale and purchase agreement with the sellers Crest Incorporated and Tang Yaosheng。The buyer has agreed to acquire the sales shares (the entire issued share capital of the target company Haili Investment Co., Ltd.) and receive the 188bet sports betting app download sales loan，The price is about 14.HK$2.1 billion。After adjustment，The maximum price the buyer expects to pay will not exceed 14.HKD 4 billion。The target company is the sole legal and beneficial owner of the property。Deng Yaosheng has agreed to provide guarantee for the seller’s obligations under the sale and purchase agreement。

As understood，This property is located at No. 123 Castle Peak Road, Ting Kau, Tsuen Wan, New Territories, Hong Kong，The property operates a restaurant named “Tinglanju”'s hotel。The hotel has a total floor area of ​​approximately 21.630,000 square feet。The property includes a 16-story hotel (including three basement levels)，435 rooms in total，1 restaurant、A swimming pool and gym。The property is held under a government lease from September 8, 1992 to June 30, 2047，The current ground rent payable is 3% of 188bet online sports betting the target company’s total operating income per year。

Company representation，The acquisition is Huada Hotel、Companies such as Shunhao Property and Shunhao Holdings expand their existing hotel management services and hotel management portfolio，Opportunity to increase revenue sources and improve profitability。