Core Viewpoint - Song Cheng Performing Arts plans to acquire 100% equity of Hangzhou Song Cheng Industrial Co., Ltd. from its controlling shareholder for a total price of 963 million yuan, marking a significant expansion of its core scenic area and entering a "powerful central kitchen era" for content production and global replication [1] Group 1: Acquisition Details - The acquisition price for the 100% equity of Hangzhou Song Cheng Industrial is set at 963 million yuan [1] - This acquisition will allow Song Cheng Performing Arts to fully own Song Cheng Industrial, integrating it into the company's consolidated financial statements [1] - The acquisition aims to alleviate land resource constraints that have limited product line upgrades and the introduction of new entertainment formats [1] Group 2: Future Development Plans - Following the acquisition, Song Cheng Performing Arts plans to construct a large theater and several small theaters within the expanded scenic area, creating a diverse immersive performance structure [2] - The new theaters will incorporate contemporary cultural tourism trends and enhance family interaction, transforming the scenic area into a super performing arts park catering to various age groups and cultural backgrounds [2] - The company aims to significantly increase visitor stay duration and spending levels through a variety of performances and immersive experiences [2] Group 3: Strategic Upgrades - The company has recognized the need for a unified approach to content creation and management to effectively replicate the "Song Cheng model" across different locations [3] - The "central kitchen" concept involves centralized content planning, production, and training, allowing for localized adjustments based on regional cultural characteristics [3] - The acquisition will provide the necessary space to develop a central kitchen base, enhancing the company's capabilities in content supply, project replication, and cost management for sustainable growth over the next 10 to 20 years [3]

Core Viewpoint - Songcheng Performing Arts Development Co., Ltd. plans to acquire 100% equity of Hangzhou Songcheng Industrial Co., Ltd., which will significantly expand the Songcheng scenic area from 67 acres to approximately 200 acres, enhancing its cultural tourism footprint in Hangzhou [2][4]. Group 1: Expansion and Strategic Importance - The acquisition will allow the scenic area to extend its tour route from about 1 kilometer to approximately 4 kilometers, creating a more diverse and immersive experience for visitors [3]. - The new area will focus on enhancing underdeveloped segments such as family-friendly attractions, youth engagement, and AI-driven experiences, thereby upgrading the overall entertainment offerings [3][4]. - This strategic move addresses the current land constraints and positions the company for future growth in content and business models, reinforcing its competitive edge in the cultural tourism sector [4][5]. Group 2: Long-term Growth Potential - The acquisition is seen as a proactive measure to overcome land limitations and to prepare for the implementation of new content and business formats, which is expected to drive long-term growth [3][4]. - By securing a prime location in a highly limited development area, the company is ensuring ample space for future expansion and innovation in its offerings [4]. - The expansion is anticipated to enhance the company's capabilities in content production, IP incubation, and hosting cultural events, thereby providing a solid foundation for revenue growth [4][5].

北京商报讯(记者卢扬实习记者华卓玛)11月25日，宋城演艺（300144）发展股份有限公司发布公告，公 司拟支付现金购买控股股东杭州宋城集团控股有限公司持有的杭州宋城实业有限公司(以下简称"宋城实 业")100%股权，最终确定整体转让价格为9.63亿元。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。 ...

Core Viewpoint - The company plans to acquire 100% equity of Hangzhou Songcheng Industrial Co., Ltd. from its controlling shareholder, Hangzhou Songcheng Group, for a total transfer price of 963 million yuan, which will enhance its operational scale and content offerings, potentially reversing recent declines in performance [1] Group 1: Transaction Details - The acquisition price for the 100% stake in Hangzhou Songcheng Industrial is set at 963 million yuan [1] - Following the transaction, Hangzhou Songcheng Industrial will become a wholly-owned subsidiary and will be included in the company's consolidated financial statements [1] Group 2: Strategic Implications - This transaction addresses the company's land use shortfalls in its scenic areas and represents a proactive move towards future content and business model development [1] - The expansion of the scenic area will significantly increase operational space, enhance performance offerings, and improve tourist attraction [1] - The company anticipates that the enlarged scale and enriched content will lead to an increase in visitor numbers and higher per capita spending [1] Group 3: Future Prospects - The scenic area will serve as a testing ground for the company's planning and design initiatives, allowing for market validation of new concepts before broader implementation across its numerous scenic spots nationwide [1] - This strategic move is expected to drive overall business growth for the company [1]

格隆汇11月25日丨宋城演艺(300144.SZ)公布，公司旗下杭州宋城景区与宋城实业紧密相邻，为支持宋 城景区经营和发展，长期以来宋城实业将大部分土地使用权和房屋租赁给宋城景区作为停车场及景区运 营场地。为了发挥规模优势和协同优势，2025年11月25日，公司与宋城集团签署《关于杭州宋城实业有 限公司之股权转让协议》，公司拟以支付现金的方式收购宋城实业100%股权。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，最终确定转让价格为人民币96,300万元。本次交 易完成后，公司持有宋城实业100%股权，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。 ...

Core Viewpoint - The company plans to acquire 100% equity of Hangzhou Songcheng Industrial Co., Ltd. from its controlling shareholder, Hangzhou Songcheng Group, for a total transfer price of 963 million yuan, which will enhance its operational scale and content offerings, potentially reversing recent declines in performance [1] Group 1: Acquisition Details - The acquisition price for the 100% equity stake is set at 963 million yuan [1] - Following the transaction, Hangzhou Songcheng Industrial will become a wholly-owned subsidiary and will be included in the company's consolidated financial statements [1] Group 2: Strategic Implications - This transaction addresses the company's land use shortfall in its scenic areas and is a proactive step towards future content and business model expansion [1] - The expansion of the scenic area will significantly increase operational space, enrich performance and interactive content, and improve tourism facilities, thereby enhancing visitor attraction [1] Group 3: Expected Outcomes - The company anticipates that the expanded operational scale and enriched content will lead to an increase in visitor numbers and higher per capita spending [1] - The scenic area will serve as a testing ground for various planning and design initiatives, allowing the company to refine and replicate successful strategies across its numerous scenic spots nationwide [1]

Core Viewpoint - Songcheng Performance announced the acquisition of 100% equity in Songcheng Industry for 963 million RMB to enhance operational synergy and scale advantages [1] Group 1: Acquisition Details - The acquisition agreement was signed on November 25, 2025, and the final transfer price is based on the equity assessment value provided by a qualified evaluation agency [1] - After the transaction, Songcheng Industry will become a wholly-owned subsidiary of Songcheng Performance and will be included in the consolidated financial statements [1] Group 2: Financial Performance - For the first half of 2025, Songcheng Performance's revenue composition was as follows: 78.58% from the live performance industry, 17.26% from tourism services, and 4.17% from other businesses [1] - The current market capitalization of Songcheng Performance is 20.9 billion RMB [2]

人民财讯11月25日电，宋城演艺（300144）11月25日公告，公司拟支付现金购买控股股东杭州宋城集团 控股有限公司持有的杭州宋城实业有限公司100%股权。最终确定整体转让价格为9.63亿元。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。 ...

Core Viewpoint - Songcheng Performance announced the acquisition of 100% equity in Songcheng Industry for a cash payment of RMB 963 million, enhancing operational synergy and scale advantages [1] Group 1: Acquisition Details - The acquisition involves Songcheng Performance purchasing 100% of Songcheng Industry, which has been leasing land and facilities to support the operations of the adjacent Songcheng Scenic Area [1] - The final transfer price for the acquisition is set at RMB 963 million, based on the equity valuation provided by a qualified appraisal agency [1] - Upon completion of the transaction, Songcheng Industry will become a wholly-owned subsidiary of Songcheng Performance and will be included in the consolidated financial statements of the company [1]

杭州宋城实业有限公司 审计报告 中喜财审 2025S03228 号 中喜会计师事务所（特殊普通合伙） 地址：北京市东城区崇文门外大街11号新成文化大厦A座11层 邮编：100062 电话：010-67085873 传真：010-67084147 邮箱：zhongxi@zhongxicpa.net 杭州宋城实业有限公司 审计报告及财务报表 | | 目 录 | 页 次 | | --- | --- | --- | | 一、 | 审计报告 | 1-3 | | 二、 | 已审财务报表 | | | | 资产负债表 | 1-2 | | | 利润表 | 3 | | | 现金流量表 | 4 | | | 股东权益变动表 | 5-6 | | | 财务报表附注 | 1-43 | 中 中喜 会 计 师 事 务 所 (特 殊 普 通 合 伙 ) ZHONGXICPAs（SPECIALGENERALPARTNERSHIP） 审计报告 中喜财审 2025S03228 号 宋城演艺发展股份有限公司全体股东： 一、审计意见 我们审计了杭州宋城实业有限公司（以下简称"宋城实业"）财务报表，包括 2024年12月31日、2025年10月31日的资产 ...