证券代码：300144 证券简称：宋城演艺 公告编号：2025-071 宋城演艺发展股份有限公司 关于召开 2025 年第四次临时股东会的通知 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误导性陈述或重 大遗漏。 一、召开会议的基本情况 1、股东会届次：2025 年第四次临时股东会 2、股东会的召集人：董事会 （2）公司董事及高级管理人员； 3、本次会议的召集、召开符合《中华人民共和国公司法》《深圳证券交易所创业板 股票上市规则》《深圳证券交易所上市公司自律监管指引第 2 号—创业板上市公司规范运 作》等法律、行政法规、部门规章、规范性文件及《公司章程》的有关规定。 4、会议时间： （1）现场会议时间：2025 年 12 月 25 日 15:00 （2）网络投票时间：通过深圳证券交易所系统进行网络投票的具体时间为 2025 年 12 月 25 日 9:15-9:25，9:30-11:30，13:00-15:00；通过深圳证券交易所互联网投票系统投票的 具体时间为 2025 年 12 月 25 日 9:15 至 15:00 的任意时间。 5、会议的召开方式：现场表决与网络投票相结合。 ...

证券代码：300144 证券简称：宋城演艺 公告编号：2025-069 宋城演艺发展股份有限公司 第九届董事会第七次会议决议公告 本公司及董事会全体成员保证公告内容真实、准确和完整，没有虚假记载、 误导性陈述或重大遗漏。 一、董事会会议召开情况 2、公司最近一年无重大违法行为； 3、回购股份后，公司具备债务履行能力和持续经营能力； 4、回购股份后，公司的股权分布原则上应当符合上市条件； 宋城演艺发展股份有限公司（以下简称"公司"）第九届董事会第七次会议 于 2025 年 12 月 9 日以通讯的方式召开。本次会议由董事长张娴女士主持，会议 应到董事 9 人，实到董事 9 人，公司高级管理人员列席了会议。本次董事会会议 通知已以专人送达或电话方式发出。本次会议召开符合《中华人民共和国公司法》 和《公司章程》的相关规定，合法有效。 二、董事会会议审议情况 （一）逐项审议通过《关于以集中竞价交易方式回购公司股份方案的议案》 1.01 回购股份的目的和用途 基于对公司未来发展的信心和对公司价值的认可，为增强投资者对公司的投 资信心，维护广大股东利益，公司拟使用自有资金以集中竞价交易方式回购部分 公司股份，用于注销并减 ...

每经AI快讯，12月9日，宋城演艺（300144）(300144.SZ)公告称，公司计划使用自有资金以集中竞价交 易方式回购部分公司股份，用于注销并减少注册资本。回购价格上限为12.00元/股，资金总额不低于人 民币1亿元(含本数)且不超过人民币2亿元(含本数)。回购期限为自股东会审议通过回购方案之日起6个月 内。此次回购不会对公司经营、财务、研发、债务履行能力、未来发展产生重大影响，且不会导致公司 控制权发生变化。 ...

Group 1 - The core point of the article is that Songcheng Performing Arts plans to acquire 100% equity of Songcheng Industrial from its controlling shareholder, Songcheng Group, for a total price of 963 million yuan, which will make Songcheng Industrial a wholly-owned subsidiary and included in the consolidated financial statements [2][4]. Group 2 - Songcheng Industrial's main assets include approximately 92,400 square meters of land use rights and about 94,500 square meters of buildings, primarily generating income from leasing to Songcheng Scenic Area for parking and operational purposes [4]. - Upon successful completion of the transaction, the area of Songcheng Scenic Area will expand from 67 acres to approximately 200 acres [4]. - As of October 31, 2025, the assessed value of Songcheng Industrial is approximately 963 million yuan, reflecting an estimated increase of 779 million yuan over the book value, resulting in a valuation increase rate of 422.74% [4]. - The company stated that the assessment reflects the market value of Songcheng Industrial as of the benchmark date, and the transaction price does not exceed the assessed value, ensuring fairness and reasonableness [4]. Group 3 - Following the acquisition, Songcheng Performing Arts plans to develop various types of immersive performances, several small theaters, and enhance facilities such as parking spaces and extreme experience areas [4]. - As of the end of Q3 this year, the company has approximately 4.6 billion yuan in cash and trading financial assets, which will support ongoing cash inflows from scenic area operations [5]. - After the acquisition, the company plans to invest around 500 million yuan in renovations and upgrades, with an estimated construction period of about two years, which is seen as a key move to create a "second growth curve" and deepen its competitive advantage [5].

（文章来源：证券日报） 证券日报网讯 12月4日晚间，宋城演艺发布公告称，公司已于近日完成注册资本变更的工商登记及《公 司章程》备案手续，并取得由浙江省市场监督管理局换发的《营业执照》，注册资本变更为贰拾陆亿贰 仟贰佰伍拾叁万柒仟玖佰肆拾元。 ...

证券代码：300144 证券简称：宋城演艺 公告编号：2025-068 宋城演艺发展股份有限公司 关于完成工商变更登记并换发营业执照的公告 宋城演艺发展股份有限公司（以下简称"公司"）于2025年8月26日召开第 九届董事会第二次会议，于2025年9月16日召开2025年第二次临时股东会，分别 审议通过了《关于变更注册资本及修改<公司章程>的议案》。具体内容详见公 司分别于2025年8月27日、2025年9月16日在巨潮资讯网（www.cninfo.com.cn） 披露的《关于变更注册资本及修改<公司章程>的公告》（公告编号：2025-045） 和《2025年第二次临时股东会决议公告》（公告编号：2025-048）。 公司已于近日完成了上述工商变更登记及《公司章程》备案手续，并取得由 浙江省市场监督管理局换发的《营业执照》，现将相关事项公告如下： 6、类型：其他股份有限公司（上市） 本公司及董事会全体成员保证公告内容真实、准确和完整，没有虚假记 载、误导性陈述或重大遗漏。 一、新营业执照基本信息 1、名称：宋城演艺发展股份有限公司 2、成立日期：1994年09月21日 3、法定代表人：商玲霞 4、住所：浙江省 ...

中国经济网北京12月4日讯宋城演艺（300144）(300144.SZ)近日发布关于收购杭州宋城实业有限公司 100%股权暨关联交易的公告。 宋城演艺拟支付现金购买控股股东杭州宋城集团控股有限公司(以下简称"宋城集团")持有的杭州宋城实 业有限公司(简称"宋城实业"或"标的公司")100%股权(简称"本次交易")。本次交易以符合《证券法》规 定的评估机构出具的权益评估价值为定价参考，最终确定整体转让价格为人民币96,300万元。本次交易 完成后，宋城实业成为公司的全资子公司并纳入公司合并报表范围。 本次交易的对手方宋城集团为公司控股股东，根据《深圳证券交易所创业板股票上市规则》等有关规 定，宋城集团为公司的关联人，本次交易构成关联交易。 本次评估反映了交易标的资产在基准日的市场价值，但确认了较大幅度的评估增值，郑重提请投资者关 注投资风险。 2024年、2025年1-10月，宋城实业营业收入分别为3,928.91万元、3,496.14万元，净利润203.59万元、 550.13万元，经营活动产生的现金流量净额1,155.21万元、1,127.17万元。 | 项目 | 2024 年 12月 31 日/ 2024 ...

Group 1 - The core transaction involved 470,000 shares of Songcheng Performance, with a total transaction value of 3.431 million yuan, accounting for 1.61% of the total trading volume on that day [1][2] - The transaction price was set at 7.30 yuan per share, which represents a discount of 9.54% compared to the market closing price of 8.07 yuan [1][2] - The buyer was Minsheng Securities Co., Ltd., while the seller was Zhongtai Securities Co., Ltd. [2]

Core Viewpoint - The article raises concerns about the governance level of Songcheng Performance (300144.SZ) following its acquisition of 100% equity in Hangzhou Songcheng Industrial Co., Ltd. for 9.63 billion, suggesting potential conflicts of interest and financial mismanagement [3][4][6]. Summary by Sections Acquisition Details - Songcheng Performance announced the acquisition of Hangzhou Songcheng Industrial, which includes land and buildings adjacent to its theme park, previously leased for operations [5][9]. - The acquisition price of 9.63 billion is considered excessively high, given that Hangzhou Songcheng Industrial's net profit for 2024 is projected at only 2.03 million, implying a payback period of nearly 474 years [6][7]. Financial Concerns - The acquisition raises suspicions about the financial health of the controlling shareholder, Songcheng Group, especially during a downturn in the real estate market [5][6]. - There is a notable 31% pledge ratio of shares held by Songcheng Group, indicating potential liquidity issues [6]. Revenue Performance - Songcheng Performance's revenue from its theme park has declined from 769 million in 2018 to 530 million in 2024, highlighting operational challenges rather than a need for expansion [10][11]. - The article argues that the decision to acquire land and property should be based on increased revenue and visitor numbers, which are currently lacking [12]. Historical Context - The article references past financial mismanagement, including a significant impairment loss of 1.8 billion in 2021 related to the acquisition of the "Liujianfang" platform, raising further doubts about governance practices [16][18]. - Previous regulatory issues, including incomplete disclosures and accounting adjustments, have led to warnings from regulatory bodies, further questioning the company's governance [20][21]. Conclusion - The article concludes that the recent acquisition, combined with historical financial practices, necessitates a reevaluation of Songcheng Performance's governance and operational strategies [13][14].

Core Insights - The report highlights three core trends in the consumer services industry: "New Recovery, New Ecology, and New Supply" [6] - Structural factors are aiding certain sectors in stabilizing and improving operations, indicating a gradual recovery from the bottom [7] - The integration of online platforms with offline operations is reshaping the industry ecosystem, enhancing competition and operational efficiency [8] Industry Overview - The consumer services sector has seen a slight revenue increase of 2.57% year-on-year, totaling 183.23 billion yuan in the first three quarters of 2025, despite a 12.7% decline in net profit [20][22] - The sector's performance has been mixed, with tourism and education sectors showing significant growth, while the hotel and restaurant sectors faced slight declines [16][19] New Recovery - The hotel industry is experiencing a rebound due to increased tourism demand and a stabilization in average daily rates (ADR), with occupancy rates showing signs of improvement [31][57] - The Macau gaming market has shown strong recovery, with gross gaming revenue (GGR) reaching 24.086 billion MOP in October 2025, driven by non-gaming attractions [32][44] - The duty-free market is benefiting from policy optimizations, with sales in Hainan reaching 2.425 billion yuan in October 2025, reflecting a 34.86% year-on-year increase [32][38] New Ecology - Major players like Alibaba, Meituan, and JD.com are competing in the instant retail space, each leveraging their strengths to enhance online and offline integration [42] - The restaurant industry is witnessing a shift towards standardized and professional supply chains, with the chain restaurant rate increasing from 15% in 2020 to 23% in 2024 [46][48] New Supply - The tourism sector is transitioning from a "sightseeing + ticket" model to one focused on content innovation and immersive experiences, with companies like Sanxia Tourism and Haichang Ocean Park leading this change [50][53] - The sports industry is evolving to combine spectator and participatory sports, creating new social engagement opportunities through digital platforms [54] Investment Recommendations - Key recommendations include focusing on leading hotel chains like Jinjiang Hotels and ShouLai Hotels, and monitoring companies with strong supply chain advantages in the restaurant sector [6][8] - The report suggests that innovative companies in tourism, sports, and education sectors, particularly those utilizing AI and content innovation, are worth attention for potential growth [8][50]