Guilin Tourism (000978.SZ): Travel Automobile Company ceased operations

According to the Zhitong Finance App, Guilin Tourism (000978.SZ) issued an announcement. Affected by factors such as increased competition in the industry and changes in market structure, the company's wholly-owned subsidiary Travel Auto has continued to lose money in recent years. Travel Auto has tried to transform through various channels, but none of them have met expectations, and it is still unable to change the loss situation. After careful research, in order to reduce losses, optimize the company's asset structure, and safeguard the long-term interests of all shareholders, after deliberation and approval at the 5th meeting of the 7th board of directors in 2026 held on October 9, 2026, the board of directors of the company agreed to close the business of TAVAC and begin employee placement and other related work.