Glonghui, April 19 | First Travel Hotel (600258.SH) announced that it intends to acquire 9% of the shares of Beijing Huanhui Real Estate Co., Ltd. (“Huanhui Real Estate”) held by Beijing Capital Travel Group Co., Ltd. in cash of RMB 971.04.04 million, and also acquire the corresponding principal amount of claims and interest receivable (including principal amount of RMB 516.78 million and interest of RMB 861,300) of the above equity and debt transactions at the same time as the target company (Huanhui Real Estate) of 517.643 million yuan in cash 527.3517.04 million yuan to invest in and manage high-quality hotel support projects in the Tongzhou Cultural Tourism Commercial Area. New shareholder loans from First Travel Group to Huanhui Real Estate between the evaluation benchmark date and the debt conversion date will be transferred by First Travel Hotel according to the actual loan amount corresponding to the 9% share ratio to be transferred. Shareholders' loans are settled quarterly by Huanhui Real Estate to pay the capital usage fee at an annual interest rate of 6%.

After the above share and debt acquisition was completed, First Travel Hotel held 9% of Huanhui Real Estate's shares. According to the capital requirements of Huanhui Real Estate during the construction period and initial operation of Huanhui Real Estate, each shareholder provided shareholder loans to them in the same proportion as the shares held by Huanhui Real Estate. First Travel Hotel's loans to Huanhui Real Estate are expected to continue to provide shareholder loans of 254.2.4 million yuan, in addition to the total loan amount of 516.78 million yuan transferred from First Travel Group as described above. The total shareholders' loans will not exceed 7710.2 billion yuan. Shareholders' loans are settled quarterly by Huanhui Real Estate to pay the capital usage fee at an annual interest rate of 6%