Fullshare Holdings (00607.HK) announced that it has entered into a transaction agreement with Jiaxing Fengrui Enterprise Management Partnership Enterprise (Limited Partnership). It is reported that Fullshare Holdings has conditionally agreed to sell all the equity in Fullshare Tours to Jiaxing Fengrui Enterprise Management Partnership Enterprise (Limited Partnership) under the equity transfer agreement for a total consideration of 0.95 billion RMB.

After the completion of the sale, the members of the Fullshare Tours Group (including Fullshare Dazhu Group) will no longer be subsidiaries of Fullshare Holdings, but Fullshare Holdings will continue to indirectly own 26.67% equity in Fullshare Dazhu.

The directors of Fullshare Holdings believe that the sale provides an opportunity for the Group to improve its financial condition and reallocate its financial resources to accommodate future development.