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Jinling Hotels & Resorts Corporation

Jinling Hotels & Resorts Corporation is a subsidiary of the Jinling Hotel Corporation, the registered capital of which is 9.965 million RMB, and the shareholder ratio of the Jinling Hotel Corporation is 63.87%. It is mainly engaged in the management of high-rated hotels and the operation of budget hotels. The company keeps intensifying the construction of its professional system, constantly improves its management quality and market penetration, actively takes measures to deal with the policy adjustments affecting the hotel industry inChina, and accelerates development and expansion of its hotel chains. The number of Jinling member hotels has increased from 6 in the early days of the Corporation to 135 by the end of June 2013, in Beijing and other 11 provinces of China; these include 107 five-star hotels, 14 four-star hotels and 14 budget hotels. The number of 5-star hotels managed by Jinling ranks the first of hotel management companies in China. The company has been named to the list of “Top 10 China’s Hotel Groups” by Hotel magazine for 3 consecutive years, and “China’s Most Popular Local Hotel Brand” for 5 consecutive years. By the end of June of 2013, the total assets of the company reached 1.4703 billion RMB and has net assets of 0.8971 billion RMB.