Zhejiang Feiyang International Travel Group Co., Ltd., Anhui Civil Aviation Airport Group Co., Ltd. and Huangshan Tourism Development Co., Ltd. Set Up Joint Venture Company Anhui Feiyang Aviation Operations Development Co., Ltd
May 13, 2024 at 07:56 am
Share
The board of directors of Feiyang International Holdings Group Limited announced that Zhejiang Feiyang International Travel Group Co., Ltd., a wholly-owned subsidiary of the Company, Anhui Civil Aviation Airport Group Co., Ltd., (An Hui Min Hang Ji Chang Ji Tuan You Xian Gong Si) and Huangshan Tourism Development Co., Ltd. (Huang Shan Lu You Fa Zhan Gu Fen You Xian Gong Si) (Huang Shan Lu YouFa Zhan Gu Fen you Xian Gong Si) ("Huang Shan Lu You FaZhan Gu Fen You Xianong Si") (Huang Shan Lu you Fa Zhan Xian Gong Si) (the "JV Company") have recently set up a joint venture company, Anhui Feiyang Aviation Operations Development Co., Ltd. (An Hui Feiyang Aviation Operations development Co., Ltd. (Anhui Feiyang aviation Operations Development Co. Ltd. (An Hui Fei Yang Hang Kong Yun Ying Fa Zhan You Xian Gong Si) in the PRC. The registered capital of the JV Company is RMB 10 million, which is contributed as to 45%, 30% and 25% by Anhui Airport Group, Feiyang International and Huangshan Tourism Company, respectively.
The JV Company shall principally be engaged in the provision of airport operation related services. It is expected that the joint venture cooperation would open up more flight routes and expand the aviation market, thereby effectively promoting the high-quality development of civil aviation in Huangshan City.
Huangshan Tourism Development Co.,Ltd. mainly operates through four segments, including Scenic Area Management, Cableway Operation, Hotel Business and Travel Agency. Scenic Area Management segment is engaged in the daily operation and management, infrastructure construction, environment sanitation and cleaning, sewage treatment and other services in Huangshan scenic zone, Anhui province, China and in HuaShan Mysterious Grottoes, Zhejiang province, China. Cableway Operation segment consists of the safety management, equipment maintenance and services of the cableways in Huangshan. Hotel Business segment is involved in the operation and management of the hotels that the Company owns. Travel Agency segment provides domestic tourism, inbound tourism, outbound tourism, air ticketing, exhibition services, advertising planning and other services. The Company also involves in the development and distribution of commercial residential properties.
Zhejiang Feiyang International Travel Group Co., Ltd., Anhui Civil Aviation Airport Group Co., Ltd. and Huangshan Tourism Development Co., Ltd. Set Up Joint Venture Company Anhui Feiyang Aviation Operations Development Co., Ltd