Huatian Hotel: Hunan Sports Industry Group plans to indirectly control 32.48% of the shares.

Huatian Hotel Announcement: Hunan Sports Industry Group Co., Ltd. has acquired 95% equity of Hunan Tourism Group through the free transfer of state-owned shares, thereby indirectly controlling 32.48% of Huatian Hotel's shares. This has resulted in the change of actual controller of Huatian Hotel from the Hunan Provincial State-owned Assets Supervision and Administration Commission to the Hunan Provincial Cultural Assets Supervision and Administration Commission. This acquisition is subject to the completion of the anti-monopoly review process and the completion of business registration process.