Guotu United: Purchase of 100% equity of Rentian Industry and approval of fundraising by the Shanghai Stock Exchange.

The National Travel Joint Announcement on May 20th, the company intends to acquire 100% of the shares of Jiangxi Runtian Industrial Co., Ltd. through the issuance of shares and payment of cash, and raise supporting funds. The M&A and reorganization review committee of the Shanghai Stock Exchange held a review meeting on May 20th to review the application for this transaction. The review result is: this transaction complies with the reorganization conditions and information disclosure requirements. This transaction still needs to be approved by the China Securities Regulatory Commission before it can be implemented, and there is uncertainty as to whether the registration can be completed.