pennbattle35000weight| Jinling Hotel (601007.SH): Signed the Equity Entrusted Management Agreement

Gronghui May 24 丨 Jinling Hotel (601007)(601007pennbattle35000weight.SH) Announcementpennbattle35000weight, in order to better solve the industry competition problem between Nanjing Jinling Hotel Group Co., Ltd.(referred to as "Jinling Hotel Group") and the companypennbattle35000weight, concentrating the core advantageous resources of the hotel sector, implementing integrated management and intensive operation of 11 hotels involved in industry competition, and accelerating quality improvement, efficiency improvement and asset revitalization. The company plans to agree to sign the Equity Entrusted Management Agreement with Jinling Hotel Group and its subsidiary Jiangsu Jinling Tourism Investment Management Group Co., Ltd.(referred to as "Jinling Tourism Investment Company") and Jiangsu Jinling Wuxing Industrial Co., Ltd.(referred to as "Wuxing Industrial Company"). There will be no transfer of asset ownership in this related party transaction, does not constitute a major asset reorganization as stipulated in the Measures for the Management of Material Asset Reorganizations of Listed Companies, and will not lead to a change in the scope of the listed company's consolidated statements.