Gelonghui November 3rd 丨< “遇见喀什” 文旅项目 (喀什古城夜市) 招商引资协议书>*ST West Region (300859.SZ) announced that on November 3, 2023, the 18th meeting of the sixth board of directors of Western Tourism Development Co., Ltd. deliberated and passed the “Proposal on the Company's Plan to Sign with the Kashi Municipal Bureau of Commerce and Industrial Information Technology”, agreeing that the company and the Kashgar Municipal Bureau of Commerce and Industry Information Technology will discuss and reach a preliminary agreement on the “Meet Kashi” cultural tourism project (Kashi Food Court). The company plans to sign the “Meet Kashi” Cultural Tourism Project (Kashi Night Market) Investment Promotion Agreement with the Kashgar Municipal Bureau of Commerce and Industrial Information Technology. The proposed foreign investment does not need to be submitted to the company's shareholders' meeting for review and approval, and does not constitute a related transaction or major asset restructuring.
The company will jointly invest in the establishment of a joint venture with Kashi Ancient City Tourism and Culture Development Co., Ltd. (Kashi Ancient City Company for short) (Kashi Ancient City Company for short). The joint venture will be owned by Western Tourism Holdings (the specific shareholding ratio of the parties is subject to the subsequent “Investment Cooperation Agreement”). The relevant registration information shall be subject to the registration and publication information of the project company after registration and establishment. The investment includes leasing the Kashgar Food Court and investing in the development of the “Meet Kashi” cultural tourism project; the investment amount is estimated at 200 million yuan (the details are based on the joint venture “Investment Cooperation Agreement” signed between the project company and the Kashgar Ancient City Company).
The construction content mainly includes “Meet Kashi” (tentative name) repertoire investment (creative direction and content production), theater transformation (building structure transformation, exterior theme packaging, general equipment, procurement and installation of equipment for immersive performance systems, scene design and production), and parking lot construction.