Gelonghui May 13, Feiyang Group (01901Baccarat54070ml.HK) announcementBaccarat54070mlZhejiang Feiyang International Travel Group Co., Ltd. ("Feiyang International"), Anhui Civil Aviation Airport Group Co., Ltd. ("Anhui Airport Group") and Huangshan Tourism (600054) Development Co., Ltd. ("Huangshan Tourism Company"), a wholly-owned subsidiary of the company, recently established a joint venture company, ─ Anhui Feiyang Aviation Operation and Development Co., Ltd.
The registered capital of the joint venture company is 10 million yuan, which is contributed by 45%, 30% and 25% respectively by Anhui Airport Group, Feiyang International and Huangshan Tourism Company. The joint venture company will mainly provide services related to airport operation. It is expected that the cooperation of the joint venture company will open up more routes and expand the aviation market, thus effectively promoting the high-quality development of the civil aviation industry in Huangshan City.
Anhui Airport Group is a state-owned enterprise which 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 business, including hotel management and catering business. Huangshan Tourism Company is a company listed on the Shanghai Stock Exchange (stock code: 600054), mainly engaged in tourism business. The directors believe that the Group can capitalize on the experience, network and resources of Anhui Airport Group and Huangshan Tourism Company to explore the great potential of the Huangshan market and diversify the Group's sources of income.