Zhejiang Sunriver Culture Tourism (600576.SH) won the bid for the Yuewang Valley Cultural Tourism Area project in Shengzhou City.

Zhejiang Sunriver Culture Tourism (600576.SH) announced that the company, together with related parties, won the bid for the Yuezhuang Valley Cultural Tourism Area project in Shengzhou City. The company will acquire 22% equity of the project company through capital increase and share expansion. At the same time, the company's wholly-owned subsidiary, Yuankun Tourism, will jointly establish an operation company with Shanshui Wenlv (or its designated entity) and Xiangfurui. The operation company will be specifically responsible for the operation and management of the targeted project. The registered capital of the operation company is 10 million yuan, with Yuankun Tourism planning to invest 3.3 million yuan and hold 33% of the shares; related party Xiangfurui planning to invest 3.3 million yuan and hold 33% of the shares; and the purchasing unit's controlling shareholder Shanshui Wenlv (or its designated entity) planning to invest 3.4 million yuan and hold 34% of the shares. This joint venture to establish the operation company is a common investment with related parties, constituting a related party transaction.