[ET Net News Agency, 9 August 2019] Zhongchang International Holdings Group Limited
(00859) said its subsidiary Foshan Express Property Service Co., Ltd. has agreed to buy
the entire equity interest in Zhoushan Sansheng Hotel Management Co., Ltd. (the target)
from Foshan Sansheng Real Estate Co., Ltd. at the initial consideration of RMB120 million.
The target is principally engaged in hotel investment and hotel operation. The principal
asset of the target is the hotel located at Zhoushan City, Zhejiang Province, the PRC. It
has a total gross floor area of 33,113 sq.m. (RC)