Gelonghui, May 13 | Feiyang Group (01901.HK) announced that its wholly-owned subsidiaries Zhejiang Feiyang International Travel Group Co., Ltd. (“Feiyang International”), Anhui Civil Aviation Airport Group Co., Ltd. (“Anhui Airport Group”) and Huangshan Tourism Development Co., Ltd. (“Huangshan Tourism Company”) have recently established a joint venture, Anhui Feiyang Aviation Operation and Development Co., Ltd., in China.
The registered capital of the joint venture is RMB 10 million. Anhui Airport Group, Feiyang International and Huangshan Travel Company invest 45%, 30% and 25% respectively. The joint venture will mainly provide services related to airport operations. It is expected that the joint venture's cooperation will open up more routes and expand the aviation market, thereby effectively promoting the high-quality development of the civil aviation industry in Huangshan.
Anhui Airport Group is a state-owned enterprise that mainly operates three airports in Anhui Province, including Anhui Xinqiao International Airport, Huangshan Tunxi International Airport, and Chizhou Jiuhuashan Airport. Anhui Airport Group is currently developing tourism-related businesses, including hotel management and catering businesses. Huangshan Travel Company is a company listed on the Shanghai Stock Exchange (stock code: 600054), mainly engaged in travel business. The directors believe that the Group can use the experience, networks and resources of Anhui Airport Group and Huangshan Travel Company to explore the huge potential of the Huangshan City market and diversify the Group's revenue sources.