芒果超媒：参与张家界旅游集团重整投资，股份过户登记完成

Core Viewpoint - Mango Excellent Media announced that it and its wholly-owned subsidiary, Happy Sunshine, subscribed to 120 million shares of Zhanglv Group, with a total investment of approximately 475 million yuan [1] Group 1 - The company directly subscribed to 30 million shares, with a lock-up period of 18 months [1] - Happy Sunshine subscribed to 90 million shares, also with a lock-up period of 18 months [1] - The total investment from Dianguang Media and its subsidiaries amounted to approximately 317 million yuan for 80 million shares [1] Group 2 - As of December 30, 2025, the share transfer procedures have been completed [1] - The company directly holds 30 million shares of Zhanglv Group, while Happy Sunshine holds 90 million shares, totaling 120 million shares, all of which are subject to a lock-up period of 18 months [1]