Xiangyuan Culture & Tourism: Zhejiang Tourism Investment Group Stake Rises to 14.78%

On July 31, Xiangyuan Culture & Tourism announced that 105.5 million shares held by Anhui Xiangyuan, a person acting in concert with the controlling shareholder, were auctioned and won by Zhejiang Tourism Investment Group, with the transfer completed. After the transfer, Zhejiang Tourism Investment Group's stake rose from 4.78% to 14.78%; the controlling shareholder Xiangyuan Travel Development and its concert parties' combined stake fell from 58.08% to 48.07%, with the actual controller unchanged.