On 11 January 2019, Kaifeng Cultural Tourism Investment Group received approval and registration notification from National Association of Financial Market Institutional Investors for its 1st and 2nd phases of 2018 Private Placement Note (PPN).  The registered amount of the 1st phase PPN is RMB 300 million which is co-underwritten by China Securities and Bank of Communications while that of the 2nd phase is RMB 200 million co-underwritten by China Securities and Bank of Zhengzhou.

The group, as a state-owned company established in 2010, is engaged in the fields of cultural tourism, design, production and advertisement agent.  It operates Songdu Cultural Commercial Zone, Shuanglongxiang Historical Street, Qingming Shanghe Town and other significant cultural tourism projects with great economic and social benefits.

Grandall Zhengzhou Office has been retained as legal advisor for the project with Mr. LI Guowang, and Ms. DING Junli as key lawyers providing professional and high quality service for the case.