HONG KONG SAR - Media OutReach - 19 March 2021 - Zhejiang New Century Hotel Management Co., Ltd. (the "Company", HKEx stock code: 1158) received a voluntary conditional offer made by Kunpeng Asia Limited ("the Offeror") to acquire all the issued H Shares and Domestic Shares of the Company (except for the shares held by the shareholders who have undertaken not to accept the offers). The Composite Document concerning the privatization and delisting proposal has been dispatched by the Company today. Pursuant to the document, the consideration for H Share Offer and Domestic Share Offer are HK$18.15 and RMB15.180660 per share,