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Guilin Tourism once again raised the investment in the Vivid Lotus project to a total of 1.100 million yuan

Guilin Tourism once again raised the investment in the Vivid Lotus project to a total of 1.100 million yuan
On March 11th, Guilin Tourism Co., Ltd. (hereinafter referred to as “Guilin Tourism”) issued an announcement to disclose that due to the adjustment of the design of “Jing SHOW · Vivid Lotus” (hereinafter referred to as “Vivid Lotus”), the total investment of Vivid Lotus ProjectAdjust to 1.100 million yuan.The Vivid Lotus Project is a cooperation project signed between Guilin Tourism and Xu Fei (Shanghai) Culture and Art Center in July 2018.According to the signed agreement, the two parties discussed the establishment of a project company as the main body of the investment and operation of the Vivid Lotus Project, with a total planned investment of about 50 million yuan.According to the announcement, Guilin Vivid Lotus Performance Development Co., Ltd. (hereinafter referred to as “Vivid Lotus Company”) is responsible for the construction and operation management of Vivid Lotus Project.Vivid Lotus is a wholly-owned subsidiary of Guilin Lipu Yinziyan Tourism Co., Ltd. (hereinafter referred to as “Yinziyan Company”), a registered capital of 50 million yuan.In May 2019, 10 months after the signing of the Vivid Lotus Project Cooperation Agreement, Vivid Lotus Company adjusted the original design plan of the Vivid Lotus Project and recalculated the total investment of the project. The total investment of the project is expected to beAbout 80 million yuan.However, due to many reasons such as low original investment cost estimates, the Vivid Lotus EPC project (general contracting for the entire process of design, procurement, construction, trial operation, etc. of engineering construction projects) was announced after bidding in September 2019.After the bid for Vivid Lotus EPC project, Vivid Lotus Company, Xu Fei (Shanghai) Art Center and Guilin Architectural Design and Research Institute optimized and adjusted the Vivid Lotus project design plan. The total investment of the adjusted project is 1.100 million yuan, of which the engineering cost is 7956.0.88 million yuan, other construction costs 2380.110,000 yuan, the reserve fee is 516.810,000 yuan, with interest of 1.47 million yuan during the construction period.Guilin Tourism believes that the Vivid Lotus Project can change the current single business of the company’s Yinziyan Scenic Spot and its income is too concentrated on the income of rock cave tickets.The market share of Yinziyan Scenic Spot.At the same time, investing in the construction of the Vivid Lotus Project is another measure of the company’s deep integration of tourism and culture, which is conducive to expanding the company’s business scope and space, enhancing the company’s performance, and further enhancing its market competitiveness.According to the announcement, the construction period of Vivid Lotus Project is 14 months, and it is planned to complete the completion acceptance and audition in the first quarter of 2021.According to “Guilin Lipu Yinziyan<境 SHOW?生动莲花>The project feasibility study report is calculated based on the construction period of 1 year, the operating period of 10 years, and an income tax rate of 25%.The total annual profit is 13.7 million yuan, and the financial internal rate of return of the project investment is 13.3 after income tax.14%.Sauna, Yewang Editor Wang Zhenzhen Zheng Yijia Proofreading Li Ming Picture Guilin Travel Announcement