Guangzhou Baiyunshan Pharmaceutical Holdings Company Limited: Intends to jointly establish a joint venture company with China Duty Free Group to operate duty-free shops in Guangzhou city.

Guangbai Group announced on the evening of May 16th that, in order to jointly develop the duty-free business of duty-free shops within Guangzhou City, the company plans to jointly invest with China Duty Free Group, Lingnan Holdings, and Baiyun Airport to establish China Duty Free City Duty Free Shop Co., Ltd. to operate duty-free shops within Guangzhou City. The registered capital of China Duty Free City Duty Free Shop Co., Ltd. is 45 million yuan, of which the company plans to invest 8.775 million yuan with its own funds, accounting for 19.5% of the registered capital.