天目湖出售动物王国公司4.5944%股权，千亩重点文旅项目终止实施

Core Viewpoint - Jiangsu Tianmuhu Tourism Co., Ltd. has signed a transfer agreement to sell a 4.5944% stake in Jiangsu Tianmuhu Animal Kingdom Tourism Co., Ltd. to Liyang State Investment Holding Group Co., Ltd. for 18.275 million yuan, marking an 8.53% discount from the book cost of 19.98 million yuan, as part of a strategy to optimize asset structure and focus on core business development [1][2][3] Group 1: Transaction Details - The transaction is classified as a related party transaction since Liyang State Investment is an indirect controlling shareholder of the company, and a company director also serves on Liyang's board [1] - The assessment method used for the transaction was the asset-based approach, and the pricing was determined through mutual agreement, ensuring fairness and compliance with legal regulations [2] - The payment for the transaction will be made in two installments: 9.14 million yuan within five working days of signing the agreement, and the remaining amount after the completion of business registration procedures [2] Group 2: Project Background and Termination - The Animal Kingdom project was initiated in April 2022 with a registered capital of 100 million yuan, where Tianmuhu contributed 19.98% [2] - The project aimed to create a comprehensive cultural tourism complex with an investment of 3.55 billion yuan, covering approximately 1,800 acres, and was expected to attract 4 million visitors annually [2] - Due to changes in market expectations and economic conditions, the project was deemed unfeasible, leading to its termination in September 2025 [1][2] Group 3: Financial Impact and Strategic Focus - The company views this transfer as a timely loss mitigation, as the project had already faced delays and potential losses [3] - In Q3 2025, the company reported a revenue of 140 million yuan, a year-on-year decrease of 1.23%, and a net profit of 28.5268 million yuan, down 13.19% [3] - Strategically, the company is focusing on expanding its core business, having recently strengthened its control over segments like performing arts and technology through the acquisition of stakes in three subsidiaries [3]