Gelonghui, April 9, 丨 Junting Hotel (301073.SZ) announced that the company held the 20th meeting of the 3rd board of directors on April 7, 2024 to review and pass the “Proposal on Foreign Investment and Financial Assistance to Participating Companies”. The board of directors of the company agreed to transfer 49% of DajiShang Mei's shares held by Shangcheng Trading. After the registration of the share change was completed, Dajiji Shangmei shareholders changed to hold 51% (pledged investment of 5.1 million yuan) and Chongqing Junting held 49% (pledged investment of 4.9 million yuan). The two parties invested in the upgrading and renovation of the HNA Poly International Center Hotel, No. 235, Minsheng Road, Yuzhong District, Chongqing, in proportion to the equity ratio. It is estimated that the investment in hotel upgrading and renovation will be RMB 30 million, of which RMB 10 million will be paid by the registered capital of both parties; RMB 20 million will be borrowed by shareholders to Dajiji Shang Mei in proportion to their equity. Chongqing Junting plans to provide financial support of 9.8 million yuan to Dajishangmei according to the shareholding ratio. The period is 3 years after the agreement is signed. Interest will be calculated according to the LPR for the same period, and interest will be calculated at 4 times the LPR for the same period if overdue. Shang Cheng Trading and its related company Chongqing Dajie provide repayment guarantees for Dajiji Shang Mei's outstanding loan principal and share repurchase rights.
The investment will upgrade the quality of the original hotel in accordance with Pagoda Junting Design Hotel standards. Dajiji Shangmei will entrust the management and operation of the hotel to Chongqing Junting. Relying on the design and operation capabilities of the Junting Hotel Group, the post-opening management period will be: 10 years for the basic period and 10 years for the extended period.