CHINA TRAVEL HK (00308) announced that on September 30, 2025 (after trading hours of the Stock Exchange), China Travel Scenery entered into Equity Transfer Agreement A with Seller A, Changchun Vanke Real Estate Development Co., Ltd., and Target Company A. Under this agreement, China Travel Scenery agrees to acquire and Seller A agrees to sell 100% equity interest in Target Company A for a consideration of RMB 295 million (as of September 29, 2025, Target Company A had bank borrowings of approximately RMB 755 million), with China Travel Scenery required to pay Seller A in cash. Additionally, the Company entered into Equity Transfer Agreement B with Seller B, Vanke Hotel Management Co., Ltd., and Target Company B, whereby the Company agrees to acquire and Seller B agrees to sell 100% equity interest in Target Company B for a consideration of RMB 5 million, with the Company required to pay Seller B in cash.

Upon completion, the target companies will become wholly-owned subsidiaries of the Company, and their financial results will be consolidated into the Group's financial statements.

Target Company A, Jilin Songhua Lake International Resort Development Co., Ltd., is a limited liability company established in China, primarily engaged in the tourism industry. It serves as the operating entity for Vanke Enterprise's ice and snow business, encompassing three major business segments: Songhua Lake Ski Resort, hotels, and commercial streets. As of the date of this announcement, it is 100% owned by Seller A.

Target Company B, Beijing Wan Ice Snow Sports Co., Ltd., is a limited liability company established in China, with principal business activities including ski resort operations management, teaching services, and consulting advisory services. As of the date of this announcement, it is 100% owned by Seller B.

Target Company A operates Jilin Songhua Lake Ski Resort, including Songhua Lake Ski Resort, Seibu Prince Hotel, Zhanyun Salomon Hotel, Qingshan Apartments, and commercial streets. Target Company B focuses on core businesses including ski resort development planning, construction consulting, operations management, marketing promotion, and ski instruction. It has cumulatively managed 9 renowned ski resorts and possesses abundant mountain teaching partnership resources, demonstrating strong integration capabilities in the ski industry.

This project aligns with the Company's development strategy for urban and leisure resort products. It represents an important strategic choice for the Company to seize historic opportunities, cultivate new growth drivers, and actively expand into the ice and snow economy, carrying significant overall strategic importance.