Yuyuan Tourist Mart sells Ningbo Xingjian for 150 million yuan

Shanghai Yuyuan Tourist Mart Group (Yuyuan Tourist Mart) and its subsidiaries are selling their 100% equity in Ningbo Xingjian Asset Management Co., Ltd. and associated debt to Ningbo Plastics Co., Ltd. The total transaction value is 150 million yuan, comprising an equity transfer price of 91,788,138.18 yuan and a debt transfer price of 58,211,861.82 yuan, effective as of November 20, 2025. This move aligns with Yuyuan Tourist Mart's strategy to focus on its core business, optimize asset utilization, and accelerate capital recovery.

The transaction received approval from Yuyuan Tourist Mart’s Eleventh Board of Directors' Forty-Eighth (Interim) Meeting on December 15, 2025, with all 12 votes in favor. The Audit and Finance Committee had previously approved the proposal on December 10, 2025.

Upon completion, Yuyuan Tourist Mart will no longer hold equity in Ningbo Xingjian, and the company will cease to be consolidated in its financial statements. The sale of Ningbo Xingjian, which operates the Xingjian Lanting Health and Wellness Project, will be accounted for in accordance with accounting standards, with specific details to be confirmed after the annual auditor’s review.