星辉娱乐剥离足球业务，西班牙人俱乐部正式易主

Core Viewpoint - The Spanish football club Espanyol has officially changed ownership, with the transaction involving a total consideration of €130 million (approximately ¥1.08 billion) [2]. Group 1: Ownership Change - Starry Entertainment's subsidiary, Starry Sports (Hong Kong), has completed the registration change for the sale of Espanyol to VELOCITY SPORTS LTD, receiving €65 million in cash and 38.26 million A-class shares valued at €65 million, representing 16.45% of VELOCITY's total equity [1]. - Following the completion of the equity transfer, Espanyol will no longer be included in Starry Entertainment's consolidated financial statements [1]. Group 2: Financial Impact - The transaction is expected to increase Starry Entertainment's net profit attributable to shareholders by approximately ¥47.07 million, based on the exchange rate as of September 30 [1]. - Starry Entertainment previously estimated that the transaction would increase net profit by about ¥150 million, with the difference attributed to operational profits generated from player sales and other activities during the period from the audit report cutoff date to the equity transfer date [1]. Group 3: Historical Context - Starry Entertainment acquired a 50.1% stake in Espanyol in 2015 for approximately €65 million, becoming the first A-share listed company to control a top European football club [2]. - The company increased its stake to 99.35% in 2016 by investing an additional €40 million [2]. Group 4: Recent Performance - Starry Entertainment's revenue in 2024 was ¥1.36 billion, a decrease of 21.49% year-on-year, with a net loss of ¥458 million, largely due to a 52.36% decline in football-related revenue [3]. - In the first half of 2025, the company reported revenue of ¥1.135 billion, a year-on-year increase of 84.58%, with net profit turning positive at ¥155 million, attributed to player transfer income and increased broadcasting and ticketing revenues [3].