Shanghai Ya Tong Co.,Ltd. (China)

Shanghai Ya Tong Co., Ltd. is a state-owned holding company located in Shanghai, China. The company completed its asset restructuring before June 30, 2010. Prior to the restructuring, its main business was in the transportation of passengers and vehicles in the Yangtze River estuary, as well as involvement in various industries. In terms of water transportation, the company had the highest annual passenger volume of over 8 million people and vehicle volume of over 1.2 million. However, with the completion and opening of the Shanghai Yangtze River Tunnel-Bridge on November 1, 2009, the company's traditional advantage in water transportation was lost, leading to a rapid decline in economic benefits. To counter this unfavorable situation and alleviate the resulting pressures, the Chongming County Committee and County Government made a significant decision to carry out asset swaps for Shanghai Ya Tong Co., Ltd. The company exchanged its public welfare assets related to water transportation with excellent assets in the catering and hotel industry, allowing Shanghai Ya Tong Co., Ltd. to transition smoothly and achieve a lighter operational structure. The company's other businesses, including communication engineering, real estate, car rental, and tourism car services, have shown strong development momentum and market prospects, potentially becoming the company's new main industries and sources of economic growth. Other enterprises within the company are also entering a period of mature and stable development.