On June 6th, Gelonghui announced that its subsidiary, Daming Palace Ruins Park Co., Ltd., accepted the entrusted management services of the Daming Palace Ruins Protection and Transformation Office in Xi'an Qujiang. The current annual management fee is RMB 128.10 million. The Daming Palace Ruins Park Co., Ltd. can operate profitable activities within the scenic area and the operating income belongs to the company. In order to protect the interests of the company and investors and reduce the amount of receivables, the company plans to sign a "Equity Transfer Agreement" with Daming Palace Investment Group to transfer 100% of the equity of Daming Palace Ruins Park Co., Ltd. through a non-public agreement. Upon mutual agreement, the equity delivery date is set as December 31, 2023. From the evaluation base date to the delivery date, the profit and loss of Daming Palace Ruins Park Co., Ltd. will be enjoyed and borne by the company; after the delivery date, the profit and loss of Daming Palace Ruins Park Co., Ltd. will be enjoyed and borne by Daming Palace Investment Group. Based on this principle, the tentative transfer price of the equity is RMB 42,013,811.59, subject to the audited data.