宋城演艺：拟收购杭州宋城实业有限公司100%股权

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]