CHINA TRAVEL HK (00308) invests 102 million yuan to establish a joint venture company to develop the Black Dushan Scenic Area in Qinghai Province and improve the Northwest tourism loop site.

China Travel HK(00308) announced that the group is seizing the opportunity presented by the recovery of the Mainland tourism market and actively expanding into new cultural and tourism projects as new sources of revenue. The group completed the acquisition of Jilin Songhua Lake International Resort Development Co., Ltd., and China Travel (Beijing) Ice and Snow Sports Development Co., Ltd. on October 27, 2025. During the winter peak season of the 2025-26 fiscal year, they received a total of 1 million visitors. With marketing efforts by the group, the number of visitors increased by about 9% compared to the previous year, generating approximately 170 million RMB in revenue and approximately 57 million RMB in operating profit for the group in the first four months of the fiscal year. At the same time, the group signed investment and shareholder agreements with Mangya Tourism Development Co., Ltd. and Mangya Guoqing Tourism and Cultural Development Co., Ltd. on March 26, 2026, to jointly establish China Travel (Mangya) Tourism Development Co., Ltd. (joint venture company) in order to create more tourism experience projects in the Heidushan Scenic Area in Qinghai Province. The registered capital of the joint venture company is 200 million RMB, with the group contributing 102 million RMB, holding a 51% stake. The project is planned to focus on a core product system of unique "geological wonders + deep space exploration," located at a key point on the Qinghai-Gansu Grand Loop, and is an important layout for the group in the Northwest region after the Ningxia Shapotou Scenic Area project, helping to enhance the group's presence in the Northwest tourism circuit, strengthen market share and influence in the Northwest region. The Heidushan Scenic Area is currently in the phase of external opening, having received a total of 20,874 visitors during the May Day Golden Week in 2026 (May 1-5). The group expects that the new investment projects will be completed and operational by 2028, attracting even more visitors by then.