JDI completed the merging of 4 branches of Dragon Hotel2014-08-25

On 5th August, 2014, JDI Investment Co., Ltd. completed the restructuring and organization of the 4 branches of Dragon Hotel, and planned to input such assets into US JDI Listed in the 4th quarter of 2014 according to the going-public strategic plan.

The accountant team of JDI has completed the license renewal of the 4 branches in Guangzhou. The restructuring and organization is expected to be completed by the end of August. JDI will cooperate with a well-known lawyer team to reorganize more branches successively into the listed company. JDI will take gradual steps to complete the merging of all branches of Dragon Hotel according to the IPO plan.

Upon all examination and paper work, all agreement documents were completed in August, 2014. Pursuant to the agreement documents, JDI Investment Co., Ltd. is to hold all equity of the 4 branches, which will be submitted to the Professional Going-public IPO Team to assist US JDI Listed for the reorganization and asset merging procedure.

JDI Investment Co., Ltd. has appointed an accounting team for issues related taxes and certificates. It is believed that the restructuring and organization, merging and renaming etc. will be completed in August successfully and JDI will obtain all equity of the 4 branches.

JDI will work with an internationally well-known lawyer firm and complete all cooperation solutions, which will drive forward the time schedule of the going-public of the integral JDI acquiring assets. According to the target time of the work plan, the 1st step of asset reorganizing and merging is expected to be completed by the end of 2014. JDI will continue the asset merging and reorganizing of the other branches of Dragon Hotel. Meanwhile, JDI will develop more chain hotel business actively and continue the development strategy for the integral going public of the group.

Beginning from November, 2013, JDI Investment Co., Ltd. and Dragon Hotel Group conducted the merging & going public of branches plan, convened work plan meetings, and have completed the planning work. Both companies will complete the brand integration of Dragon Hotel Group, hotel asset restructuring and organization, asset acquisition and future hotel chaining developing plan step-by-step, according to the project.