What is the relationship between China CYTS Group Corporation and CYTS Holdings Limited?

To put it simply: it is the relationship between parent and subsidiary companies, and it is the relationship between state-owned enterprises and listed companies.

China Youth Travel Group Co., Ltd. is a 100% state-owned enterprise directly under the Central Committee of the Communist Youth League. It is the first travel agency established with the approval of the CPC Central Committee after the reform and opening up in China (1980).

CYTS Holdings Co., Ltd. is a joint stock limited company established by China CYTS Group as the main sponsor to raise funds. Established in 1997 and listed. It is the first A-share listed company in China travel agency industry, the president unit of China Travel Agency Association, the first demonstration unit of national tourism standardization, the national benchmark unit of tourism service quality, and the only China Quality Award nomination award in China travel agency industry. CYTS was also nominated by the state.

According to the annual report CYTS 20 16, China CYTS Group Company is the largest shareholder of CYTS Holdings Limited ... Therefore, China CYTS Group Company and CYTS Holdings Limited are essentially integrated. Of course, according to the principle that listed companies avoid horizontal competition, China CYTS Group Company has handed over all its tourism business to CYTS Holdings Limited. At present, CYTS Holdings Co., Ltd. has strong competitive advantages in scenic spots, incentives, vacations, sightseeing, tourism, hotel operations and other fields, and receives more than150,000 visitors annually. It owns a series of well-known enterprises and product brands such as Aoyou.com CYTS, Variety Freedom, CYTS Exhibition, Wuzhen, Gubei Water Town and Shanshui Fashion Hotel, and has branches in more than 30 domestic and international core cities such as Beijing, Shanghai, Guangzhou, Tianjin, Nanjing, Hangzhou, Shenzhen, Chengdu, Urumqi, Shijiazhuang, Taiyuan, Nanning, Tokyo, Vancouver and Hong Kong.