HONG KONG--(BUSINESS WIRE)--In August 2014, China’s State Council released a tourism guideline stating that China’s domestic tourism spending is expected to nearly double and reach approximately RMB 5.5 trillion by 2020, amongst other initiatives. Total Wonder Enterprises Limited holds a 40-year exclusive right to develop and operate an approximately 593km2 scenic tourism destination, Swallows’ Gully, in Sichuan, China. With this exclusive right, Total Wonder is well-positioned to benefit from this latest tourism guideline and capitalize on China’s thriving tourism market. In order to maximize the potential of this destination, in July 2014, Total Wonder signed a Letter of Intent with Alpha Peak Leisure Inc. (TSX-V: AAP.P), and aims to be the first foreign owned Chinese tourism company to be listed in Canada.
Located at the foot of the Gonga Mountains, the highest mountain peak in Sichuan, Total Wonder holds the right to jointly develop and operate Swallows’ Gully with local government authorities until 2046. Anchored by breath-taking views of the snow-capped peaks, Swallows’ Gully boasts many spectacular geographical attractions, from panoramic mountain views and low-elevation glaciers, to lush virgin forests, rare flora and fauna, natural hot springs, and unique rock structures formed over millions of years. This diverse beauty led Chinese National Geography Magazine to recognize the region as the “#2 Most Beautiful Sight” in China.
Sichuan and Chongqing, the most addressable local markets for Swallows’ Gully with approximately 110 million residents, have been key beneficiaries of favourable government policies targeted at boosting the development of Western China. The region is amongst the fastest growing regions in China in terms of GDP and tourism, with increases in wealth, disposable income and domestic leisure travel driving an expanding domestic tourism industry.
Development plans for Swallows’ Gully include a cable car and hot spring resort, as well as a snow park, food and beverage offerings, and other attractions, with the intention of making Swallows’ Gully a premier scenic tourism destination.
This notice is not an offer of securities for sale in the United States. The securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”), or any state securities laws of the United States, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements under the Securities Act and applicable state securities laws of the United States.
About Total Wonder
Total Wonder Enterprises Limited is a privately-held holding company whose largest shareholder is CN Lifestyle Limited. CN Lifestyle is a member of the privately owned Chungnam Group of companies, led by Managing Director, Mr. Bob Chong. Based in Hong Kong, the Chungnam Group has diverse interests throughout Asia encompassing tourism, leisure, technology, retail, manufacturing and trading. The Chungnam Group was founded in 1935 by a prominent local Hong Kong family, the Chong Family, who is regarded as one of the most well-connected and respected families in Greater China. The Chong Family has a long history of serving the Hong Kong community, including through their continued involvement in the Li Ka Shing Foundation, a charitable organization founded by Mr. Li Ka-shing, the brother-in-law of Mr. Bob Chong and Mr. Charles Chong. Mr. Charles Chong has been a long standing director of the Li Ka Shing Foundation.