Yunnan Tourism to invest 45.3 million yuan to set up two subsidiaries

Yunnan Tourism (002059) Wednesday late release announced that the company intends to set up a wholly-owned subsidiary of 30 million Yuan Kunming Expo Park Sports Leisure Co., Ltd., which use the first raise capital of 26.6736 million yuan, its own capital of 3.3264 million yuan.　　In addition, the company plans to work with Kunming International Convention and Exhibition Center, Yunnan World Expo Garden Hotel jointly funded 30 million yuan to prepare Kunming Expo International Conference Center, of which the company contributed 15.3 million yuan, accounting for 51% of total registered capital.　　The company said that the establishment of Kunming Expo Park Sports and Leisure Co., Ltd. will promote the transformation and upgrading of the company and Expo Scenic Area, and create high-end recreational, sports, leisure and tourism projects, creating new revenue sources and profit growth points for the company.　　The establishment of the International Conference Center of Kunming Expo Park will not affect the company's operating performance in 2011, but it can effectively integrate and exert the advantages of three-party resources to consolidate and improve the market position of the enterprise. Yunnan tourism Wednesday closed to 12.72 yuan, down 0.55%.