[TechWeb] on December 25, Zhongxin Travel announced that it plans to transfer 100% equity held by Wenchang Baoyu Investment Co., Ltd. and its wholly-owned subsidiary Hong Kong Zhongxin International Travel Service Co., Ltd., including China Enterprise Credit Commercial factoring Co., Ltd., China Enterprise Credit Financial Leasing Co., Ltd., and Guangzhou Youloan Micro loan Co., Ltd., at a transfer price of 180 million yuan.

The announcement said that the reason for the transfer of equity is that the company in order to better focus on the main business sector, concentrate resources to develop core business and increase working capital. The transaction pricing is based on the conclusion of the Asset Evaluation report issued by a third-party evaluation institution with securities and futures qualifications, and the pricing is fair and reasonable after consultation between both parties of the transaction.

The company's use of the cash obtained from this transaction can optimize the asset structure, improve the financial situation, reduce the overall operating risk of the company, help to optimize the business layout and resource allocation, and reduce uncertainty and operational risks. and then improve the profitability of listed companies, in line with the interests of the company and all shareholders, there is no harm to the interests of the company and shareholders, especially minority shareholders.