China Yida Holdings (NASDAQ:CNYD)

On June 24, 2011, China Yida Holding, Co. (the “Company”) incorporated an indirect wholly-owned subsidiary, China-Fujian Yida Travel Service Co., Ltd (the “New Subsidiary”), in Fuzhou City, Fujian Province, China. The New Subsidiary is 100% owned by our subsidiary Yida (Fujian) Tourism Group Limited, an indirect wholly foreign owned entity incorporated in China, which is 100% owned by our Hong Kong subsidiary, Hong Kong Yi Tat International Limited. The New Subsidiary is incorporated in China with a registered capital of RMB 10,000,000 (USD $1,546,670). Ms. Yanling Fan, the Chief Operating Officer and Director of the Company, is the President of the New Subsidiary. The authorized business term of the New Subsidiary is from June 24, 2011 to June 23, 2051.

The New Subsidiary’s business scope will be to conduct domestic and international traveling services in China, including but not limited to, operating the direct sales of travel services for our current tourist destinations at the Great Golden Lake, Yunding Recreational Park, and Hua’An Tulou Cluster, and our three tourist destinations currently under construction, Ming Dynasty Entertainment World, China Yang-sheng (Nourishing Life) Paradise, and the City of Caves. These destinations compose the tourism business segment of the Company.