A brief corporate history of Huangshan Tourism Development Co., Ltd.

On October 30, 1996, the company was approved to issue 80,000,000 domestically listed foreign shares (

B shares) on November 18, 1996.

On April 17, 1997, with approval, 40,000,000 domestically listed RMB ordinary shares (A shares) were issued.

On October 15, 1999, the company's shareholders' meeting

resolved that the company would use capital reserves to increase its share capital at the rate of 3 shares for every 10 shares

0 shares (based on 233 million shares).

On October 13, 2006, the company's shareholders meeting resolved

that the company would increase its capital reserve by 5 shares for every 10 shares to increase its share capital by 151,450,000

shares (base 302.9 million shares).

On July 13, 2007, the China Securities Regulatory Commission "Notice on Approving

the Non-public Issuance of Stocks by Huangshan Tourism Development Co., Ltd." (CSRC Issuing Words

2007178) approved the company's non-public issuance of 17 million shares. At this point, the company's registered capital has changed to 471,350,000.00 yuan, and its share capital has increased to 471,350,000 shares. The company's A shares and B shares are both listed on the Shanghai Stock Exchange. The stock abbreviation is: Huangshan Tourism, and the stock code: A shares 600054, B shares 900942.