Xi'an Qujiang Daming Palace Investment (Group) Co.,Ltd. agreed to acquire Xi'an Qujiang Daming Palace National Heritage Park Management Co., Ltd. from Xi'an Qujiang Cultural Tourism Co., Ltd. (SHSE:600706) for CNY420 billion on June 6, 2024. A cash consideration will be paid by Xi'an Qujiang Daming Palace Investment (Group) Co.,Ltd. As part of consideration, an undisclosed value is paid towards common equity of Xi'an Qujiang Daming Palace National Heritage Park Management Co., LtdAs of March 31, 2024, Xi'an Qujiang Daming Palace National Heritage Park Management Co., Ltd. reported total assets of CNY 416.94 million and total common equity of CNY 40.03 million. The transaction is subject to approval of merger agreement by target board and shareholders.

The deal has been approved by the board.