力盛体育 2023年度向特定对象发行A股股票发行方案的论证分析报告 证券代码：002858 证券简称：力盛体育 力盛云动（上海）体育科技股份有限公司 2023 年度向特定对象发行 A 股股票 发行方案的论证分析报告 （三次修订稿） 二零二五年五月 1 力盛体育 2023年度向特定对象发行A股股票发行方案的论证分析报告 力盛云动（上海）体育科技股份有限公司（以下简称"力盛体育"或"公 司"）是深圳证券交易所主板上市公司。为满足公司经营战略的实施和业务发展 的资金需求，进一步优化资本结构，提升盈利能力和市场竞争力，根据《中华人 民共和国公司法》（以下简称"《公司法》"）、《中华人民共和国证券法》（以下 简称"《证券法》"）和《上市公司证券发行注册管理办法》（以下简称"《注 册管理办法》"）等有关法律、行政法规、部门规章或规范性文件及《力盛云动 （上海）体育科技股份有限公司章程》（以下简称"《公司章程》"）的规定， 公司编制了《力盛云动（上海）体育科技股份有限公司 2023 年度向特定对象发 行股票发行方案的论证分析报告》（以下简称"本论证分析报告"）。 如无特别说明，本论证分析报告相关用语与《力盛云动（上海）体育 ...

力盛体育 2023 年度向特定对象发行 A 股股票募集资金使用可行性分析报告 证券代码：002858 证券简称：力盛体育 力盛云动（上海）体育科技股份有限公司 2023 年度向特定对象发行 A 股股票 募集资金使用可行性分析报告 （四次修订稿） 二零二五年五月 1 力盛体育 2023 年度向特定对象发行 A 股股票募集资金使用可行性分析报告 一、本次发行募集资金使用计划 本次向特定对象发行股票募集资金总额不超过 33,000.00 万元（含本数），扣 除发行费用后的募集资金净额拟用于如下项目： 单位：万元 | 序号 | 项目名称 | 项目总投入 | 拟投入募集资金 | | --- | --- | --- | --- | | | | | 金额 | | 1 | 海南新能源汽车体验中心国际赛车场项目 | 63,580.00 | 33,000.00 | | | 合计 | 63,580.00 | 33,000.00 | 本次募集资金投资项目"海南新能源汽车体验中心国际赛车场项目"的实施 主体为公司控股子公司海南智慧新能源汽车发展中心有限公司。本次募集资金到 账后，"海南新能源汽车体验中心国际赛车场项目"拟采取公司向控股 ...

力盛云动（上海）体育科技股份有限公司 2023 年度向特定对象发行 A 股股票预案 证券代码：002858 证券简称：力盛体育 力盛云动（上海）体育科技股份有限公司 2023 年度向特定对象发行 A 股股票预案 （四次修订稿） 二零二五年五月 1 力盛云动（上海）体育科技股份有限公司 2023 年度向特定对象发行 A 股股票预案 公司声明 1、本公司及董事会全体成员保证本预案内容真实、准确、完整，确认不存 在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 2、本次向特定对象发行股票完成后，公司经营与收益的变化由公司自行负 责；因本次向特定对象发行股票引致的投资风险由投资者自行负责。 3、本预案是公司董事会对本次向特定对象发行股票的说明，任何与之相反 的声明均属不实陈述。 4、投资者如有任何疑问，应咨询自己的股票经纪人、律师、会计师或其他 专业顾问。 5、本预案所述事项并不代表审批机关对于本次向特定对象发行股票相关事 项的实质性判断、确认、批准或核准，本预案所述本次向特定对象发行股票相关 事项的生效和完成尚待取得有关审批机关的批准或核准。 特别提示 本部分所述词语或简称与本预案"释义"所述词语或简 ...

Core Viewpoint - Lisheng Sports announced that its major shareholder, Shanghai Saisai Investment Co., Ltd., pledged 3.1 million shares, accounting for 19.04% of its holdings and 1.89% of the company's total share capital, to meet funding needs [3] Company Overview - Lisheng Sports was established on October 16, 2002, with a registered capital of 1.63919838 billion RMB. The company is primarily engaged in sports event management, venue operations, marketing services, sports club management, sports equipment manufacturing and sales, and digital sports business [3] - The company has 33 subsidiaries, including Shanghai Yundongjia Sports Technology Co., Ltd. and Shanghai Lisheng Racing Co., Ltd. [3] Financial Performance - The company's operating revenues for 2022, 2023, and 2024 are projected to be 258 million RMB, 405 million RMB, and 441 million RMB, reflecting year-on-year changes of -8.04%, 56.86%, and 8.77% respectively [4] - The net profit attributable to the parent company for the same years is expected to be -76.40 million RMB, -193 million RMB, and -38.86 million RMB, with year-on-year changes of -2499.91%, -149.07%, and 79.86% respectively [4] - The asset-liability ratios for the years are 25.52%, 32.60%, and 32.07% [4]

证券代码：002858 证券简称：力盛体育 公告编号：2025-042 力盛云动（上海）体育科技股份有限公司 一、 股东股份质押基本情况 | 是否为 | 是 | 是 | 控股股 | 本次质 | 否 | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 占其所 | 占公司 | 否 | 东或第 | 押股份 | 为 | 股东 | 持股份 | 总股本 | 为 | 质押 | 质押 | 质权 | 质押 | | 一大股 | 数量 | 补 | 名称 | 比例 | 比例 | 限 | 起始日 | 解除日期 | 人 | 用途 | 东及其 | （万 | 充 | | （%） | （%） | 售 | 一致行 | 股） | 质 | 股 | | | | | | | | | 动人 | 押 | 杭州 | | | | | | | | | | | | | 上海 | 银行 | 赛赛 | 办理解除质 | | | | | | | | | | | | 股份 | 自身 | 有限 | 资金 | 投资 | ...

Summary of Lisheng Sports Conference Call Company Overview - **Company**: Lisheng Sports - **Industry**: Sports Event Management and Operations Key Points and Arguments Financial Performance - Lisheng Sports achieved a record high total revenue of over 400 million yuan in 2024, despite facing long-term equity investment losses and goodwill impairment [2][8] - Core racing and event operations remained profitable, while emerging karting and digital sports businesses incurred losses [2][8] - The company expects improved performance in 2025 due to reduced risks and an employee stock ownership plan [2][8] Business Strategy and Expansion - The company is expanding its strategy from racing to a broader sports domain, having secured golf event authorization in 2025 and planning to extend into tennis, cycling, and marathons [2][4] - The golf business will encompass events, practice facilities, and equipment, with expected revenue contributions starting in 2025 and significant growth anticipated post-2026 [2][5] - The Haikou racetrack is projected to be completed by the end of 2026, contributing to revenue from 2026 to 2027, benefiting from Hainan's free trade zone operations and tourism consumption [2][6] Market Outlook - The company is optimistic about the golf market, predicting that a well-structured full industry chain could surpass the scale of its current racing business [2][7] - Long-term revenue target is set to exceed 1 billion yuan through a "5+4+2" model [2][7] Revenue Streams and Profitability - The commercial value of golf events includes sponsorship, registration fees, merchandise, and broadcasting rights, with significant profit potential once initial costs are covered [2][8] - The expected revenue for golf events is around 400 million yuan, with profits projected between 150 million to 200 million yuan [12] Future Developments - The company plans to explore other sports events like marathons and tennis in 2026, contingent on progress in 2025 [14] - Additional racetrack projects are planned outside Hainan, driven by the growing demand for performance cars in China [15] Challenges and Risks - The company faced challenges in the past year due to long-term equity investment losses and goodwill impairment, alongside losses in karting and digital sports due to high initial investments [8] - The focus for 2025 will be on ensuring profitability and avoiding large-scale loss-making investments, particularly in AI and digital sports [18] Market Comparison and Insights - Domestic golf event profitability is expected to improve through marketization, with potential comparisons to successful overseas models like the European Tour [9][10] - The company is analyzing the commercial viability of various sports events, considering market competition and audience characteristics [20] Important Milestones - Key milestones to watch in 2025 and 2026 include developments in the golf business, the construction of the Haikou racetrack, and the progress of the company's capital increase and buyback plans [21]

Core Viewpoint - The company is experiencing a significant increase in cash flow and is focusing on expanding its business through innovative projects and international market opportunities while managing risks associated with goodwill impairment and external economic factors [2][3][5][7]. Financial Performance - The company reported a net profit loss of 38.86 million yuan for 2024, primarily due to impairment provisions for long-term equity investments and goodwill [2][5]. - Operating cash flow surged by 1168.76% year-on-year to 105 million yuan, attributed to improved credit risk management and aggressive collection of receivables [2][5]. - The company plans to repurchase shares worth 20 to 40 million yuan for employee stock ownership plans or equity incentives [10][11]. Business Development - The company is actively pursuing cross-industry collaborations in IP incubation, event promotion, and customer development to enhance its racing sports content ecosystem [2][3]. - The international business revenue accounted for 46.73% in 2024, indicating steady growth and potential for further expansion in global markets [3]. - The Hainan International Circuit project is under construction and is expected to be operational by the end of 2026, aiming to leverage the unique advantages of Hainan Free Trade Port [3][9]. Industry Trends - The company is capitalizing on the growing trend of digital sports and AI technology, focusing on both B2B and B2C opportunities in the digital sports sector [3][8]. - The domestic motorsport events are experiencing stable revenue growth, supported by national policies encouraging automotive consumption and events [4][7]. - The company is exploring innovative integrations of lottery business with sports events to enhance operational visibility and influence [9]. Strategic Initiatives - The company is enhancing its traditional event marketing through technological advancements in VR/MR and AI, aiming to improve event operations and audience engagement [8]. - The company is diversifying its sports event portfolio, including plans to host around 20 golf tournaments nationwide, expanding into other sports like tennis and marathons [7][8].

Core Viewpoint - The company plans to repurchase its A-shares using self-owned funds, self-raised funds, and a special loan for stock repurchase, with a total amount between RMB 20 million and RMB 40 million, and a maximum repurchase price of RMB 17.00 per share [1][4][5] Summary by Sections Repurchase Plan - The repurchase aims to enhance investor confidence, stabilize and increase company value, and improve long-term incentive mechanisms [3][4] - The repurchase will be conducted through centralized bidding on the Shenzhen Stock Exchange [4][5] Financial Details - The estimated number of shares to be repurchased ranges from approximately 117,650 shares (at the lower limit) to 2,352,941 shares (at the upper limit), representing 0.72% to 1.44% of the total issued share capital [1][8] - The company has secured a loan commitment from China Bank for up to RMB 20 million, with a maximum loan ratio of 90% [2][11] Implementation Timeline - The repurchase period is set for 12 months from the board's approval date [5][6] - The company will disclose the progress of the repurchase in accordance with relevant regulations [11] Share Structure Changes - Post-repurchase, if all shares are used for employee stock ownership plans, the structure will change, with restricted shares increasing from 10.33% to 11.77% and unrestricted shares decreasing from 89.67% to 88.23% [8] Management Assurance - The board assures that the repurchase will not harm the company's debt repayment ability or ongoing operations [9][10]

证券代码：002858 证券简称：力盛体育 公告编号：2025-041 人及其一致行动人、持股 5%以上股东在回购期间暂时无明确的增减持计划。若 未来相关主体拟实施股份增减持计划，公司将按照有关规定及时履行信息披露义 务。 5、截至本公告披露日，公司已取得中国银行股份有限公司上海市闵行支行 出具的《贷款承诺函》，中国银行股份有限公司上海市闵行支行承诺为公司提供 不超过人民币 2,000 万元额度的股票回购专项贷款，期限不超过 3 年；贷款比例 不超过 90%，具体贷款事宜将以双方签订的相关合同为准。本次股票回购专项贷 款额度不超过 2,000 万元人民币，不代表公司对回购金额的承诺，具体回购资金 总额以回购期满时实际使用的资金总额为准。 6、相关风险提示： （1）本次回购存在回购股份所需资金未能筹措到位，导致回购方案无法实 施的风险； 力盛云动（上海）体育科技股份有限公司 回购报告书 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚 假记载、误导性陈述或重大遗漏。 重要提示： 1、力盛云动（上海）体育科技股份有限公司（以下简称"公司"）使用自有资 金、自筹资金及股票回购专项贷款通过集中竞价的方 ...

Financial Performance - The company reported a net loss of 38.86 million yuan in 2024, primarily due to impairment provisions for long-term equity investments and goodwill, as well as underperformance in certain business segments [3][4]. - Revenue growth for 2024 is projected at 8.77%, but the core business has achieved profitability when excluding impairment impacts [3][4]. - Operating cash flow increased significantly by 1168.76% to 105 million yuan, attributed to improved credit risk management and collection efforts [3][4]. Business Strategy - The company plans to optimize and divest underperforming business segments to mitigate losses [3][4]. - A new subsidiary, Shanghai Wanyou Engine Cultural Media Co., Ltd., was established to enhance cross-industry collaboration in motorsport content and marketing [3][4]. - The company is focusing on expanding its international market presence, with overseas business revenue accounting for 46.73% in 2024 [6][7]. Investment and Financing - The company is exploring various financing options, including potential bond issuance, to fund key projects like the Hainan New Energy Vehicle initiative [4][5]. - A share repurchase plan has been implemented, with a price cap set at 17 yuan, based on regulatory guidelines and market conditions [4][5]. Risk Management - The company has implemented measures to manage risks associated with credit and operational safety, including comprehensive insurance coverage for events [10][11]. - Strategies are in place to address foreign exchange risks, with a significant decrease in financial expenses due to favorable currency movements [19]. Market Opportunities - The company is leveraging government policies that support the integration of sports events and tourism to expand its business opportunities [8][9]. - There is a focus on developing digital sports products and enhancing the overall spectator experience through technology [15][16]. Collaboration and Partnerships - The company maintains long-term partnerships with international racing organizations and automotive brands, enhancing its competitive position in the motorsport industry [14][19]. - Collaborations with leading electric vehicle manufacturers are ongoing, with a focus on integrating new energy vehicles into racing events [11][12].