Nanfang Co., Ltd. (600250): To Participate In The Directional Issuance Of Qinhuaifeng, A Holding Subsidiary

Nanfang (600250) announced on the evening of May 23 that Nanjing Qinhuai Scenery Tourism Co., Ltd. ("Qinhuai scenery") was listed on the basic layer of the national small and medium-sized enterprise stock transfer system (Stock Code: 872618) in February 2018, and its main business is to provide tourists with water tour services in Qinhuai River waters. The company holds 51% equity of qinhuaifeng.

In order to further enhance the brand image and seek for a broader development of the capital market platform, qinhuaifeng plans to issue shares in a targeted way. The number of shares to be issued this time is 921700 shares, the issue price is 10.85 yuan / share, and the total amount of funds to be raised is expected to be 10 million yuan. In 2019, the company issued shares to acquire 51% equity of Qinhuai scenery. Tourism business has become one of the company's main businesses. Meanwhile, it has established the medium and long-term strategic development direction of transformation to cultural tourism industry. In order to support the development of Qinhuai scenery, strengthen and optimize the main tourism industry, the company plans to participate in the directional issuance of Qinhuai scenery stock, and plans to subscribe for 470000 shares of Qinhuai scenery, with a total subscription fund of 5.1 million yuan.